Dublin, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The "Global Medical Laser Systems Market Size, Share & Trends Analysis with Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global medical laser systems market is set to experience remarkable growth, with expectations to reach USD 14 billion by 2030, representing a robust Compound Annual Growth Rate (CAGR) of 15.2% from 2023 to 2030. This remarkable expansion can be attributed to several key drivers, with the rising demand for minimal and non-invasive medical procedures by patients being a significant contributor.
The utilization of medical laser systems for diagnostic purposes, the increasing aging population, the surging demand for cosmetic surgeries, and ongoing technological advancements in existing laser systems play pivotal roles in fueling the market's growth.
These medical laser systems find extensive applications across various branches of biology, including urology, cardiology, ophthalmology, and more, for purposes of diagnosis, disease management, and prevention. The growing incidence of disorders in these areas is expected to have a positive impact on market growth over the forecast period.
Within this dynamic market, solid state lasers are projected to witness the fastest growth, with a CAGR exceeding 15.9% during the forecast period. This growth can be attributed to their higher reliability, compact designs, cost-effectiveness, and extended system lifespans. Diode lasers are also expected to hold a significant market share, primarily due to the introduction of next-generation Optically Pumped Semiconductor Lasers (OPSLs) that offer unparalleled electrical efficiency.
Medical Laser Systems Market Highlights
- Solid State Lasers Leading the Charge: Solid state lasers are anticipated to experience rapid growth, with a CAGR exceeding 15.9% during the forecast period. Technological advancements and their increasing applications in diagnostics, including Neodymium Yttrium Aluminum Garnet (Nd:YAG) and Potassium Titanyl Phosphate (KTP), are expected to drive this growth.
- Key Application Segments: Within the medical laser systems market, the top contributors in terms of application segments are urology, cardiology, and gynecology. It's worth noting that the World Health Organization (WHO) estimates over 17.5 million people annually are reported to have chronic cases of cardiovascular disorders, necessitating surgical follow-up.
- Regional Insights: North America held a significant market share of over 45.9% in 2022. This can be attributed to rising disposable income, an aging population base, and an increasing prevalence of age-related disorders and conditions.
- Asia Pacific's Rapid Growth: The Asia Pacific region is poised to witness the fastest Compound Annual Growth Rate (CAGR) of 16.7% during the forecast period. Factors contributing to this growth include rising disposable income, increased awareness, a surge in cosmetic surgeries, and an increasing incidence of health issues like diabetic retinopathy, rheumatoid arthritis, and dental caries.
- Eminent Market Players: Notable players in the medical laser systems market include IRIDEX Corp., Lumenis Ltd., Syneron-Candela, Photomedex Inc., Spectranetics Corp., Biolase Inc., Bioform Medica Inc., biolitec, and Cutera.
The market for medical laser systems is on an upward trajectory, driven by the need for less invasive medical procedures and the continuous advancement of laser technology, promising to shape the future of healthcare and diagnostics.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 85 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $4.52 Billion |
| Forecasted Market Value (USD) by 2030 | $14 Billion |
| Compound Annual Growth Rate | 15.2% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Medical Laser Systems Market Variables, Trends & Scope
Chapter 4. Medical Laser Systems: Product Estimates & Trend Analysis
Chapter 5. Medical Laser Systems: Application Estimates & Trend Analysis
Chapter 6. Medical Laser Systems Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
- Lumenix
- Photomedex
- Philips Healthcare
- BIOLASE, Inc.
- IRIDEX Corporation
- BioForm Medical, Inc.
- biolitec AG
- Cutera
- Candela Corporation
- Cynosure
For more information about this report visit https://www.researchandmarkets.com/r/wy85rq
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