Medical Laser Systems Market Size & Growth | Report 2021, 28

report image

Medical Lasers Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type {Diode Lasers, Solid-State Lasers [Holmium Yttrium Aluminum Garnet (Ho: YAG) Lasers, Erbium Yttrium Aluminum Garnet (Er: YAG) Lasers, Neodynium Yttrium Aluminum Garnet (Nd: YAG) Lasers, Potassium Titanyl Phosphate (KTP), Alexandrite Lasers, Ruby Lasers, and Thulium Yttrium Aluminum Garnet (Tm:YAG) Lasers], Gas Laser [CO2 Lasers, Argon Lasers, Krypton Lasers, Metal Vapor (Au and Cu) Lasers, Helium-Neon Lasers, and Excimer Lasers], Dye Lasers, and Fiber Laser (Thulium Fiber Lasers, Erbium Fiber Lasers, and Ytterbium Fiber Lasers)}, Application (Dermatology, Ophthalmology, Gynecology, Dentistry, Cardiology, Urology, and Other), and End User (Hospitals, Specialty Clinics, Ambulatory Surgery Centers, and Others)

Publication Month: Apr 2022 | Report Code: TIPRE00005676 | No. of Pages: 297 | Category: Medical Device | Status: Published

The medical lasers systems market size is projected to reach US$ 5,834.02 million by 2028 from US$ 2,398.60 million in 2021. It is expected to grow at a CAGR of 13.5% from 2021 to 2028.

The increasing incidence of eye disorders is substantially driving the medical lasers systems market. North America is likely to continue its dominance in the medical lasers systems market during the forecast period. The US holds the largest market share in North America and is expected to continue this trend during the forecast period. According to the statistics released by the Centers for Disease Control and Prevention (CDC), around 610,000 deaths are recorded due to heart diseases in the US, which is 1 in every 4 deaths.

Additionally, the rising interest of people in personal aesthetics and grooming, such as hair laser removal treatment and laser skin treatment, is likely to influence the medical lasers systems market growth during the forecast period. According to the Skin Cancer Foundation report, approx. 10,130 deaths are recorded due to melanoma every year in the US. Also, the American Academy of Dermatology (AAD) report states that 1 in 3 Americans visit dermatologists, and 1 in 4 is affected by skin disease every year. Medical lasers systems help in the rapid diagnosis and treatment of skin disorders. All these factors are supporting the medical lasers systems market.

Strategic Insights

Report Coverage - Medical Lasers Systems Market
Report CoverageDetails
Market Size Value inUS$ 2,398.60 Million in 2021
Market Size Value byUS$ 5,834.02 Million by 2028
Growth rateCAGR of 13.5% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
No. of Pages297
No. of Tables207
No. of Charts & Figures98
Historical data availableYes
Segments coveredProduct Type, Application, and End User
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Lucrative Regions for Medical Lasers Systems Market

Lucrative Regions for Medical Lasers Systems Market

Get more information on this report :

   

Market Insights
Significant Rise in Elderly Population Drives Medical Lasers Systems Market Growth

A report by the US Census Bureau states that the number of people in the US aged 65 and above is anticipated to grow from 46 million in 2016 to more than 98 million by 2060. Their population share is anticipated to surge from ~15% to ~24% during this period. Another report, published by the United Nation's World Population Ageing, states that Europe had the world's highest percentage (i.e., 25%) of people aged more than 60 years in 2017. Further, by 2050, all regions, except Africa, would have ~25% or more of their populations aged 60 and above.

Moreover, underdeveloped and developing countries would account for ~80% of this growth. Ophthalmic diseases constitute a significant share of health problems among older people. Age-related macular degeneration resulting in loss of central vision, glaucoma, retinal detachment, cataracts, and diabetic retinopathy are among the most common ophthalmic diseases among the geriatric population. Diabetic retinopathy is also common among older people during the early stages of diabetes or at the time of the diagnosis. A mydriatic examination is recommended when a patient is diagnosed with diabetes and once a year after that. According to the American Institute of Ophthalmology, almost 24.4 million people under the age of 40 undergo cataract surgery, and nearly half of all Americans undergo cataract surgery by the age of 75.

Product Type-Based Insights

Based on product type, the medical lasers systems market is segmented into diode lasers, solid-state lasers [holmium yttrium aluminum garnet (Ho: YAG) lasers, erbium yttrium aluminum garnet (Er:YAG) lasers, neodynium yttrium aluminum garnet (Nd: YAG) lasers, potassium titanyl phosphate (KTP), alexandrite lasers, ruby lasers, and thulium yttrium aluminum garnet (Tm:YAG) lasers], gas laser [CO2 laser, argon laser, krypton laser, metal vapor (Au and Cu) laser, helium-neon laser, and excimer laser], dye lasers, and fiber laser (thulium fiber laser, erbium fiber laser, and ytterbium fiber laser).

The solid-state lasers segment would account for the largest market share during the forecast period. Solid-state lasers have gained attention in the global market owing to their significant improvement in the performance of such specialized lasers. This is evaluated as output power levels, wall-plug efficiency, reliability, and range of available wavelengths from the pump diodes and diode arrays. Also, modular and multiwavelength solid-state lasers provide therapeutic radiation proving effective for laser-lithotripsy, laser-angioplasty, neurosurgery, general surgery, and dentistry. Furthermore, solid-state lasers have had successful medical applications for many years due to their quick use and low absorption power in the water, which penetrates deeply into the skin and is mostly used in dermatology for hair removal and tissue rejuvenation.

Medical Lasers Systems Market, by Product Type – 2020 and 2028

Medical Lasers Systems Market, by Product Type – 2020 and 2028

Get more information on this report :


Application-Based Insights

Based on application, the medical lasers systems market is segmented into dermatology, ophthalmology, gynecology, dentistry, cardiology, urology, and others. The dermatology segment holds a considerable market share and is projected to continue its dominance during the forecast period. Advances in medical laser systems have enabled successful surgeries for multiple eye diseases, such as diabetic retinopathy, retinal tears, detachment, and macular degeneration. These medical lasers systems help prevent vision loss by improving sight. Additionally, the manufacturers are bringing innovative products to the market. For example, Nidek, in May 2019, announced the launching of a new product by introducing the “YC-200 S plus ophthalmic YAG and SLT laser system/YC-200 ophthalmic YAG laser system”, ensuring efficacious treatments for the patients.

End User-Based Insights

By end user, the medical lasers systems market is segmented into hospitals, specialty clinics, ambulatory surgery centers, and others. The specialty clinics segment held a considerable share of the market in 2021, and it is likely to continue its dominance during the forecast period. Specialty clinics are centers of excellence assuring to deliver high standards of clinical outcomes. Specialty clinics focus on any one organ, a body system, or a particular disease. Therefore, these clinics are staffed with para-medical and nursing personnel with specialized skills that have been perfected over time. The role of specialty clinics in detecting, diagnosing, and managing eye disease, cardiac diseases, and others have gained huge attention. These factors have raised the demand for medical lasers systems.

Product launches and approvals are among the most commonly adopted strategies by companies to expand their global footprints and product portfolios. Market players also focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name across the world. They aim to flourish their market shares with the development of innovative products. Lumenis Be Ltd.; Ellex; Koninklijke Philips N.V.; BIOLASE, Inc.; Boston Scientific Corporation; Bausch Health Companies Inc.; Alcon Inc.; Iridex Corporation; Candela Medical; and Artivion, Inc. are the leading companies operating in the medical lasers systems market.

Frequently Asked Questions

Global medical laser systems market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for medical laser systems market. The US is estimated to hold the largest share in the medical laser systems market during the forecast period. The presence of top players and favorable regulations related to product approvals coupled with commercializing new products are the contributing factors for the regional growth. Additionally, the increasing number of R&D activities is the key factor responsible for the Asia-Pacific regional growth for medical laser systems accounting fastest growth of the region during the coming years.
The dermatology segment dominated the global medical laser systems market and accounted for the largest revenue of 652.99 Mn in 2021.
Lumenis Be Ltd., Ellex Medical Laser (Noval Eye Medical), Koninklijke Philips N.V., BIOLASE, Inc., Boston Scientific Corporation, Bausch Health Companies Inc., Alcon Inc., Iridex Corporation, Candela Medical, Atrivion Inc.. are among the leading companies operating in the global medical laser systems market
Food and Drug Administration (FDA) defines medical laser systems as devices that are utilized and focused on light sources for treating or removing tissues, with proper utilization, medical laser systems allow the surgeons to accomplish more complex tasks, reduce blood loss, decrease postoperative discomfort, reduce the chances of wound infections, and better wound healing. Furthermore, medical laser systems use non-ionizing radiation, and so it does not have the same long-term risks as x-rays or other types of ionizing radiation.
Significant rise in the elderly population is one of the most significant factors responsible for the overall market growth.

The List of Companies - Medical Lasers Systems Market

  1. Lumenis Be Ltd.
  2. Ellex
  3. Koninklijke Philips N.V.
  4. BIOLASE, Inc.
  5. Boston Scientific Corporation
  6. Bausch Health Companies Inc.
  7. Alcon Inc.
  8. Iridex Corporation
  9. Candela Medical
  10. Artivion, Inc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the medical laser systems market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global medical laser systems market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TIPRE00005676
Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Get the Latest COVID-19 Analysis on this market




christmas_festive_offer

Have a Question?

Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Speak to Analyst
Pricing
  • $3000 $2700
  • $4550 $4095
  • $6550 $5568
  • $8550 $6840

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.

    Inquire for Discount