- In comparison with other medical lasers, solid-state lasers are likely to gather more popularity due to shorter wavelengths, higher power, and faster & better beam quality
ALBANY, N.Y., March 29, 2022 (GLOBE NEWSWIRE) -- The global medical laser systems market was valued at US$ 2 Bn in 2019. The global market is likely to develop at a CAGR of 12% during the forecast period, from 2020 to 2030. The market is estimated to reach value of around US$ 8.5 Bn by 2030. In medical treatments, diagnostics as well as other medical procedures, a medical laser system is often used. Light sources are utilized in medical laser systems to treat a variety of conditions. The laser uses specific wavelengths to produce coherent light, which aids in the performance of minimally invasive surgical operations. The Nd:YAG laser is a solid-state laser that is commonly used in cosmetic, cataract, and tumor removal procedures. The excimer laser is a gas laser that has been found to be effective in treating alopecia areata, atopic dermatitis, and scientific research.
Increase in the incidence of chronic diseases and significant unmet requirements, in terms of disease epidemiology, are likely to drive the global medical laser systems market. The demand is also predicted to be driven by increase in cosmetic procedure, rise in demand for novel medical lasers, and expansion of the geriatric populace. Rapid adoption of medical laser equipment in developing countries as well as a change in government priorities toward improved healthcare facilities is likely to aid market growth.
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Due to quicker adoption of different medical laser technologies, including crossbeam laser and diode laser, North America led the global medical laser systems market in 2019. Additionally, increase in the incidence of dental, orthopedic, ophthalmological, cancer, and cardiological illnesses is generating the demand for medical laser systems in the region for conducting related procedures. In addition, the regional medical laser systems market is expected to benefit from rise in cosmetic operations.
Key Findings of Market Report
- In 2019, the cosmetic/dermatology category held major market share, owing to the effectiveness of the medical laser technology in these minimally invasive operations. Furthermore, higher spending on cosmetic procedure treatments is yet another reason that is expected to drive the global market forward during the forecast period.
- For the past few years, research institutions and the healthcare industry have been centering their efforts on determining the potential advantages of the novel laser technology in medical applications. Photonics has made significant progress in recent years, which has aided in the creation of new lasers. Fiber lasers, a form of solid-state laser, have risen to prominence among the many types of lasers. Due to the optimal physical features of the fiber's waveguide structure, use of fiber laser has been steadily increasing over the past few decades.
- In 2019, hospitals led the global medical laser systems market, as they are the preferred location for performing different medical laser procedures. Medical laser systems are easily accessible in hospital-based healthcare systems, as they have very well-developed infrastructure. This factor is likely to work in favor of the market.
- During the forecast period, Asia Pacific is anticipated to be one of the fastest expanding markets for medical laser systems. A large number of aesthetic procedures are conducted in Southeast Asia, which is expected to drive the regional medical laser systems market in the years to come. With approximately 1 million operations conducted each year, South Korea is regarded as the region's largest market for cosmetic laser surgery. Another factor that is projected to drive the market in Asia Pacific is the increase in incidence of chronic disorders.
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Global Medical Laser Systems Market: Growth Drivers
- The global medical laser systems market is expected to benefit from increase in the incidence of different chronic disorders such as dermatological, ophthalmological, neurological, and orthopedics, which is projected to result in associated surgeries
- Another reason that is anticipated to drive the demand for medical laser systems in the future is the rising need for non-invasive and painless medical procedures. Another key factor predicted to boost the expansion of the global market is recent advancements in cancer diagnostics utilizing sophisticated laser technologies.
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Global Medical Laser Systems Market: Key Players
Some of the key market players are
- Bausch & Lomb
- LASOS Lasertechnik GmbH
- IRIDEX Corporation
- Modu-Laser LLC
- Candela Corporation
- Lumenis Be Ltd
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Global Medical Laser Systems Market: Segmentation
Product Type
- Gas Lasers
- Solid-state Lasers
- Fiber Lasers
- Diode Lasers
- Femtosecond Lasers
- Others
Application
- Ophthalmology
- Cosmetic/Dermatology
- Dentistry
- Cancer Therapy
- Cardiovascular
- Others
End User
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
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