New York, United States , June 21, 2024 (GLOBE NEWSWIRE) -- The Global Medical Laser Systems Market Size is to Grow from USD 4.6 Billion in 2023 to USD 15.89 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 13.20% during the projected period.
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A medical laser is a strong, non-invasive light that can be utilized to treat tissue efficiently and quickly without leaving any marks or imperfections. While there are many different types of medical laser systems, gas, dye, solid-state, and diode laser systems are the most widely used types. Medical laser systems are widely used in many biological domains, such as urology, cardiology, and ophthalmology, for illness treatment, prevention, and diagnosis. Furthermore, Novel laser treatments and the adoption of cutting-edge technologies are driving market expansion. Furthermore, several medical and cosmetic operations, including age-related vascular dysfunction, dermal contraction, fat reduction, hair removal, and pigmentation mark reduction, are performed with laser systems. This component aids in the market's expansion. Furthermore, Additional factors driving the market's expansion include the approval and introduction of new products, the aging population, the need for minimally invasive and outpatient treatments, the rate of urbanization, the rise in the prevalence of eye diseases, and the expense of cosmetic procedures, and the rise in healthcare spending. The application of innovative laser methods and creativity. However, Individuals from medium to lower socioeconomic backgrounds cannot afford these kinds of therapies due to the high expense of the procedures.
Browse key industry insights spread across 247 pages with 110 Market data tables and figures & charts from the report on the "Global Medical Laser Systems Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Solid-State Laser Systems, Gas Laser Systems, Dye Laser Systems, and Diode Laser Systems), By Application (Ophthalmology Lasers, Surgical Lasers, Aesthetic and Dermatology Lasers, and Others), By End User (Hospitals, Dermatology, Cosmetic Clinics, Ophthalmic Clinics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The solid-state laser systems segment is anticipated to hold the greatest share of the global medical laser systems market during the projected timeframe.
Based on the product type, the global medical laser systems market is divided into solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems. Among these, the solid-state laser systems segment is anticipated to hold the greatest share of the global market during the projected timeframe. Their ability to generate precise and regulated output wavelengths which are required for focusing on certain tissues or chromophores during medical treatments has provided light on this. The growth in the segment is anticipated to be fuelled by the rising number of surgical procedures brought on by the continuous technical advancements in devices and processes.
The surgical laser segment is estimated for the largest revenue share in the global medical laser systems market during the projected timeframe.
Based on the application, the global medical laser systems market is divided into ophthalmology lasers, surgical lasers, aesthetic and dermatology lasers, and others. Among these, the surgical laser segment is estimated for the largest revenue share in the global medical laser systems market during the projected timeframe. The increasing number of ocular and chronic disorders, rising usage of less invasive therapies, more awareness of accessible surgeries, and advancements in technology are all contributing factors to the market's expansion.
The hospital segment is predicted to grow at the highest revenue share in the medical laser systems market during the estimated period.
Based on the end-user, the global medical laser systems market is classified into ophthalmology lasers, surgical lasers, aesthetic and dermatology lasers, and others. Among these, the hospital segment is predicted to grow at the highest revenue share in the medical laser systems market during the estimated period. Due to the use of medical lasers in major procedures like inpatient tumor removal is becoming popular. However, it is anticipated that medical and aesthetic clinics would see the most revenue share growth as more people undergo cosmetic procedures to enhance their appearance.
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North America is expected to hold the largest share of the global medical laser systems market over the forecast period.
North America is expected to hold the largest share of the global medical laser systems market over the forecast period. This region is characterized by a strong concentration of prominent enterprises such as Stryker, IRIDEX Corporation, Boston Scientific Corporation, Philips Healthcare, Bausch & Lomb Incorporated, and BIOLASE, Inc., as well as a specialized healthcare infrastructure and significant spending on healthcare. In the area, chronic conditions including diabetes, heart issues, and cancer are very common. Medical lasers offer a range of effective therapeutic options, including minimally invasive treatments, faster recovery times, and targeted therapy.
Asia Pacific is predicted to grow at the fastest pace in the global medical laser systems market during the projected timeframe. Growing awareness of cosmetic operations, the incidence of chronic conditions, increasing disposable incomes, and the advancement of healthcare infrastructure in nations like China, Japan, South Korea, India, and Australia are several of the factors driving this expansion. This has aided in the development of novel and cutting-edge products and technology in the area.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global medical laser systems Market include Lumenix, Photomedex, Philips Healthcare, BIOLASE, Inc., IRIDEX Corporation, BioForm Medical, Inc., biolitec AG, Cutera, Candela Corporation, Cynosure, Quantana Systems, Boston Scientific Corporation, ZEISS Corporation, and Others.
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Recent Developments
- In June 2023, BIOLASE, Inc., partnered with Pet Dental Services (PDS), to expand its services among the veterinary segment in the country.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Medical Laser Systems Market based on the below-mentioned segments:
Global Medical Laser Systems Market, By Product Type
- Solid-State Laser Systems
- Gas Laser Systems
- Dye Laser Systems
- Diode Laser Systems
Global Medical Laser Systems Market, By Application
- Ophthalmology Lasers
- Surgical Lasers
- Aesthetic and Dermatology Lasers
- Others
Global Medical Laser Systems Market, By End User
- Hospitals
- Dermatology
- Cosmetic Clinics
- Ophthalmic Clinics
- Others
Global Medical Laser Systems Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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