Semiconductor laser treatment: Key market research findings
- Rising number of diagnostic centers and hospitals drives market growth
- The Americas dominate the market geographically
- Key vendors – Cutera, Cynosure, Lumenis, and Topcon
Technavio’s market research analysts predict the global semiconductor laser treatment market to grow at a CAGR of over 11% between 2016 and 2020. The demand for semiconductor laser treatment stems from the rise in the number of diagnostic centers and state-of-the-art hospitals. Medical laser devices, integral parts of medical technologies, have proved to be highly efficient for their ability to provide high precision and are a minimally invasive form of treatment procedures at a moderate cost. Furthermore, laser-based medical procedures offer advantages over surgical resection procedures, such as reduced morbidity rates and hospital stays. The Americas held a market share of around 49% to dominate the global semiconductor laser treatment market in 2015. The rising adoption of advanced cosmetic procedures in non-surgical techniques, such as laser hair removal, laser tattoo removal, laser wrinkle reduction, skin tightening, and photo facials in the region is expected to further fuel growth in the semiconductor laser treatment market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the semiconductor laser treatment segments based on the application.
“Consumers are developing an increasing preference for non-invasive and pain-free procedures. Non-invasive procedures like scar removal, skin resurfacing, laser hair removal, facelifts, and liposuction are performed to achieve a youthful appearance with minimal complications. Some of the most commonly sought after non-invasive procedure includes anti-aging treatments, crow’s feet treatment, and skin rejuvenation procedures,” says Asif Ghani, Lead Analyst, Semiconductor, Technavio Research.
During 2015, the aesthetic/cosmetic segment accounted for almost 31% of the market’s revenue to become the key revenue generator in the global semiconductor laser treatment market. Laser-based aesthetic devices are becoming increasingly popular among patients and physicians, as they are used for a range of indications such as pigmentary treatments, acne and rejuvenation applications, and skin tightening. Growing aesthetic consciousness among patients and increasing demand for energy-based aesthetic products are expected to contribute to the growth of this segment in the coming years.
The key vendors in the market include Cutera, Cynosure, Lumenis, and Topcon. The laser therapy device market is characterized by the presence of several international, regional, and local vendors who offer a broad range of products. Vendors normally differentiate their products based on price, quality, and efficacy and are dependent on intense marketing campaigns to spread awareness about their products. The market will witness aggressive innovation and M&As in the next four years, which will subsequently lead to numerous product launches and extensions, especially in the eye care category.
A more detailed analysis is available in the Technavio report, Global Semiconductor Laser Treatment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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