Global Medical Laser Systems Market, By Product (Diode Lasers, Solid State (Crystal) Lasers, Gas Lasers, Dye Lasers), Application (Dermatology, Ophthalmology, Gynecology, Urology, Dentistry, Cardiology, Others) – Industry Trends and Forecast to 2029.
Medical Laser Systems Market Analysis and Size
The market for medical laser systems is expected to grow in the forecast period of 2022 to 2029. Medical lasers are primarily used to treat and diagnose medical conditions, and they can undergo photochemical, photoablative, and photothermal reactions. Growing need for non-invasive procedures, an increase in the prevalence of chronic diseases, expanding acceptance of cutting-edge laser-based treatments, and rising demand for laser goods in diagnosis are some of the reasons driving the medical laser systems market growth.
Data Bridge Market Research analyses that the medical laser systems market which was USD 4.15 billion in 2021, would rocket up to USD 6.25 billion by 2029, and is expected to undergo a CAGR of 5.25% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Laser Systems Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Diode Lasers, Solid State (Crystal) Lasers, Gas Lasers, Dye Lasers), Application (Dermatology, Ophthalmology, Gynecology, Urology, Dentistry, Cardiology, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Boston Scientific Corporation (U.S.), AngioDynamics (U.S.), CANDELA CORPORATION (U.S.), Philips Healthcare (U.S.), Stryker (U.S.), IRIDEX Corporation (U.S.),Lumenis Be Ltd. (Israel), CryoLife, Inc. (U.S.), Bausch & Lomb Incorporated (U.S.), BIOLASE, Inc. (U.S.), Alcon Laboratories, Inc. (Switzerland), American Medical Systems (U.S.), Photomedex (U.S.), Novadaq Technologies, Inc. (Canada), Fujikura Ltd. (Japan), LASOS Lasertechnik GmbH (Germany), Modu-Laser (U.S.)
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Market Opportunities
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Market Definition
Medical laser systems are widely used in various biological specialties, including ophthalmology, urology, cardiology, and others, to prevent, diagnose, and manage disease. These applications are predicted to propel the market for medical laser systems during the forecast period of 2022–2029. However, the rise in the prevalence of chronic conditions like obesity and diabetes is increasing the need for and sales of medical lasers, which may present prospects for the market for medical laser systems.
Global Medical Laser Systems Market Dynamics
Drivers
- Technical advancements
Improvements in flap production technologies, like the use of the femtosecond laser, have led to better vision and a lower incidence of postoperative dry eye illness and flap problems (DED). In addition, improvements in laser ablation profiles have led to greater eyesight, including improved night vision. Medical lasers are therefore urgently needed as eye illnesses become more prevalent globally.
- Rising incidence of eye problems
The market for medical laser systems is expanding primarily due to the rising incidence of eye problems. By February 2020, the World Health Organization (WHO) predicted that at least 2.2 billion individuals worldwide would have near or farsightedness. A minimum of 1 billion instances, or roughly half, involved vision impairment that either could have been avoided or was not treated.
- Rise in chronic diseases
The rise in chronic disease prevalence, high unmet needs in terms of disease epidemiology and demand for cosmetic surgeries, surge in demand for innovative medical lasers, and increase in geriatric population.
Opportunities
- The growing number of cosmetic procedures
The industry is expected to benefit from the rising demand for non-invasive, painless medical procedures. Additionally, the various initiatives conducted by healthcare organisations to promote medical tourism are an opportunity element for market expansion. The demand for laser therapy in developing nations and rising disposable incomes both support market expansion in the upcoming year. Additionally, the emergence of multi-specialty hospitals that offer a broad range of treatments and reimbursement options creates room for expansion.
Restraints/Challenges
- Strict safety procedures
On the other hand, the strict safety procedures and high rate of failure will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the medical laser systems market.
- High cost
A decrease in customers choosing these facilities is due to the high cost of medical laser services. Due to the high cost of the approaches, people from moderate to lower socioeconomic backgrounds cannot afford these kinds of services. The market's growth is also constrained by strict safety standards and the high failure rate of surgeries using lasers.
This medical laser systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical laser systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Medical Laser Systems Market
The regional COVID-19 pandemic has a marginally unfavourable impact on the medical laser systems market. Many businesses have stopped producing, making it impossible for them to keep up with the increased demand. The COVID-19 epidemic has had a serious detrimental effect on the world economies. The European region's health services give patients impacted by COVID-19 top priority. The regular medical services are still stopped. These laser technologies stopped medical treatment in the area, along with its reliable cash generation.
Global Medical Laser Systems Market Scope
The medical laser systems market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Diode Lasers
- Solid State (Crystal) Lasers
- Gas Lasers
- Dye Lasers
Application
- Dermatology
- Ophthalmology
- Gynecology
- Urology
- Dentistry
- Cardiology
- Others
Medical Laser Systems Market Regional Analysis/Insights
The medical laser systems market is analysed and market size insights and trends are provided by country, product and application as referenced above.
The countries covered in the medical laser systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical laser systems market due to high disposable income, a growing geriatric population base, and increasing cases of age-related disorders and conditions.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to increasing incidences of diabetic retinopathy, increasing awareness and volume of cosmetic surgeries, rheumatoid arthritis and dental caries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The medical laser systems market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical laser systems market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical laser systems market. The data is available for historic period 2010-2020.
Competitive Landscape and Medical Laser Systems Market Share Analysis
The medical laser systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical laser systems market.
Some of the major players operating in the medical laser systems market are:
- Boston Scientific Corporation (U.S.)
- AngioDynamics (U.S.)
- CANDELA CORPORATION (U.S.)
- Philips Healthcare (U.S.)
- Stryker (U.S.)
- IRIDEX Corporation (U.S.)
- Lumenis Be Ltd. (Israel)
- CryoLife, Inc. (U.S.)
- Bausch & Lomb Incorporated (U.S.)
- BIOLASE, Inc. (U.S.)
- Alcon Laboratories, Inc. (Switzerland)
- American Medical Systems (U.S.)
- Photomedex (U.S.)
- Novadaq Technologies, Inc. (Canada)
- Fujikura Ltd. (Japan)
- LASOS Lasertechnik GmbH (Germany)
- Modu-Laser (U.S.)
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