The global medical laser system market was worth USD 4.9 billion in 2014. The market is expected to grow due to increasing demand for non-invasive cosmetic surgery, increased awareness about safety, and technological advances in the process.
In addition, the industry is expected to grow due to rising incidences and demand for aesthetic appeal. This will be accompanied by a growing application in gynecology. The risks of these procedures, such as scarring, bleeding and changes in skin color, are expected to limit the growth rate.
North America's market for medical laser systems, by product, 2012-2022 (USD Million).
According to the American Society for Aesthetic and Plastic Surgery (ASAPS), Americans spend more than USD 13 Billion on aesthetic treatments like body contouring, skin resurfacing, and acne prevention. These procedures will continue to be in high demand over the forecast period.
The market for medical laser systems includes the following key product segments: diode, solid-state, gas, dye, and lasers. Due to its wide range of applications in aesthetic procedures as well as photodynamic treatment, the diode segment accounted for the largest market share in 2014.
Due to the high use in dermatology, the solid state segment will grow at a faster rate than 12.0% CAGR over the forecast period. This segment can be further divided into CO 2 Argon and Krypton. It is used extensively in periodontology and skin treatment.
Based on their application, the market for medical laser systems can be divided into ophthalmology (gynecology), dermatology, dentistry, cardiology, and other. Due to the growing demand for aesthetics, dermatology dominates this application segment.
The rising awareness and adoption rates for minimally invasive and noninvasive treatments, as well as growing demand for aesthetic procedures like skin tightening, skin renewal, and contouring, are expected to have a significant impact on the market. The market for medical lasers is poised to grow in the future because of rising skin cancer rates and other skin conditions such as dermatitis, acne, psoriasis, and psoriasis, especially in emerging countries.
These products are expected to see a significant increase in use in the gynecology, especially in the treatment of cervical erosions. They also have unique properties that will help infertility. The system is also widely applicable in intra-abdominal Gynecological Surgery, which will further drive demand.
The rapid replacement of non-laser surgical instruments, such as the blades used in refractive and cataract surgery, will lead to a significant growth in the ophthalmology sector.
North America was the most important regional market for medical laser systems in 2014, with a revenue share of over 35%. The growth is due to rising adoption of cosmetic lift-ups, increasing demand for aesthetic surgery, and high disposal income and increased healthcare spending by patients. The forecast period will also see growth due to technological advancements and increased R&D investment in the region.
Future growth will likely be driven by the possibility of untapped growth potential in the Asia-Pacific region. The Asia Pacific medical laser market is expected to experience the fastest growth in the next seven years due to the rapid technological advancements and lower labor costs.
Photomedex Inc., Lumenis Ltd., Biolase Inc., Spectranetics Corporation and IRIDEX Corporation are the key players in the medical laser system market. These players actively participate in strategic collaborations, such as mergers or acquisitions, to ensure long-term sustainability and growth. The demand will be driven by technological advancements like the adoption of a pulsed laser to enhance aesthetic appeal and the launch of new products with broad applicability.
Palomar Medical Technologies was approved by the U.S. FDA in 2010 for launching a diode-semiconductor-based device for wrinkle removal. BIOLASE introduced EPIC X diode-laser in December 2014 for use in dentistry. This laser allows for faster treatment and does not compromise on quality or efficiency.
Up Market Research published a new report titled “Medical Laser Systems Market research report which is segmented by Product (Solid State, Diode, Gas, Dye Laser), by Application (Cardiology, Gastroenterology, Urology, Ophthalmology, Dermatology, Dentistry, Gynecology), By Players/Companies Biolase Inc, Photomedex Inc, Spectranetics Corporation, Lumenis Ltd, IRIDEX Corporation The players are actively involved in various strategic collaborations such as mergers and acquisitions in order to ensure long-term growth and sustainability Technological advancements such as adoption of pulsed laser for aesthetic appeal and new product launch with wide applicability are further expected to drive the demand”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Medical Laser Systems Market Research Report |
By Product | Solid State, Diode, Gas, Dye Laser |
By Application | Cardiology, Gastroenterology, Urology, Ophthalmology, Dermatology, Dentistry, Gynecology |
By Companies | Biolase Inc, Photomedex Inc, Spectranetics Corporation, Lumenis Ltd, IRIDEX Corporation The players are actively involved in various strategic collaborations such as mergers and acquisitions in order to ensure long-term growth and sustainability Technological advancements such as adoption of pulsed laser for aesthetic appeal and new product launch with wide applicability are further expected to drive the demand |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 210 |
Number of Tables & Figures | 147 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product (Solid State, Diode, Gas, Dye Laser), by Application (Cardiology, Gastroenterology, Urology, Ophthalmology, Dermatology, Dentistry, Gynecology).
Medical Laser Systems Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Medical Laser Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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