Picosecond Lasers Market Size To Reach $392.9 Million By 2030

July 2023 | Report Format: Electronic (PDF)

Picosecond Lasers Market Growth & Trends

The global picosecond lasers market size is estimated to reach USD 392.9 million by 2030, growing at a CAGR of 7.4% from 2023 to 2030, based on a new report by Grand View Research, Inc. The growth of the market for picosecond lasers is attributed to the expansion of the manufacturing industry and the growing need for high-speed equipment on a global scale. The market has been witnessing significant growth in recent years.

The picosecond laser technology offers several advantages over traditional lasers, particularly in terms of precision, efficiency, and minimal damage to surrounding tissues or materials, hence it is widely adopted for the aesthetic industry. Factors driving this growth include advancements in laser technology, increasing demand for minimally invasive medical procedures, growing adoption of laser-based manufacturing processes, and expanding applications in emerging industries such as 3D printing and microelectronics.

The market was significantly impacted by the COVID-19 pandemic. During the peak period of the pandemic, many aesthetic clinics and practices were temporarily shut down or their operations were limited due to lockdowns, social distancing measures, and restrictions on elective procedures. This led to a decline in the number of in-person consultations and treatments. As non-essential medical procedures were deferred, many individuals postponed their elective aesthetic procedures, such as cosmetic surgeries and non-surgical treatments. This resulted in a temporary decline in the demand for picosecond laser treatment.

In addition, patients have become increasingly aware of the benefits and advancements in laser technology. They are seeking out aesthetic treatments that provide effective results with minimal invasiveness and downtime. The positive word-of-mouth experiences and successful outcomes of picosecond laser treatments have contributed to the increased demand in the esthetic market.

key Request a free sample copy or view report summary: Picosecond Lasers Market Report

Picosecond Lasers Market Report Highlights

In 2022, North America dominated the market with a revenue share of 47.16%. This growth can be attributed to the emphasis on advanced technology and the rising adoption of non-invasive esthetic treatments
The ND:YAG technology dominated the revenue share in 2022 and accounted for 63.1% of the picosecond lasers industry. However, the alexandrite segment is estimated to register the fastest CAGR of 7.8% during the forecast period
Based on application, tattoo removal dominated the market with a revenue share of 41.1% in 2022 and is estimated to grow at the fastest CAGR of 8.3% during the forecast period. Picosecond lasers are distinguished as a “gold-standard” laser for removing tattoos of different colors and skin types
Med spas & esthetic centers dominated the market, in terms of end-use, with a revenue share of 56.6% in 2022 and is estimated to grow at the fastest CAGR of 8.0% during the forecast period