Market Challenges: High costs associated with procedures

The high costs associated with various dermatology laser procedures can hamper the global dermatology lasers market growth. Laser procedures are expensive, thus, making these unaffordable for many people. Dermatology lasers are highly technical and sophisticated equipment that require substantial investments, and this increases its cost. Training physicians to operate these lasers and maintain certifications increases the overall costs. Many patients are unwilling or unable to bear such high medical expenses out of their own pockets, especially for aesthetic procedures. This has limited the scope of market expansion into lower-income regions and demographic groups. The costs of procedures vary significantly depending on the type of laser used as well as the area of the body being treated. For instance, in 2021, according to the International Society of Dermatology, laser hair removal treatments using advanced laser-based technologies can cost over US$ 1,000 for full body treatments, making it inaccessible to a large portion of the population. (Laser skin resurfacing procedures utilized to reduce signs of aging can cost thousands of dollars per session. This has prevented laser systems from achieving more widespread adoption, and thus, hampering the market growth.

Market Opportunities: New product innovations and launches

Global dermatology lasers market can witness growth due to new product innovations and launches. Dermatology practices have witnessed huge demand for non-invasive laser treatments to reduce acne scarring, remove tattoos, treat hair loss and skin revitalization. As consumers focus more on aesthetic procedures, there is a need for advanced laser technologies that can deliver effective results with minimal downtime. Manufacturers have a great opportunity to develop next-generation lasers with improved features like faster treatment speeds, customizable wavelengths, built-in skin analytics and more. For example, lasers that can target multiple skin concerns in one session would be well received. This could help practices improve efficiency and see more patients. Lasers entering new therapeutic areas as well like wound healing, pain management or antiviral therapies. One area ripe for innovation is laser technology for mild to moderate psoriasis treatment.

According to the National Psoriasis Foundation, over 8 million Americans have psoriasis but only a fraction seek treatment due to limited options. A safe, convenient laser that can effectively improve psoriatic plaques could allow more people to better manage their symptoms. Dermatologists would welcome such a solution to help meet the needs of this large underserved population.