The use of medical lasers is expected to increase in the near future, owing to the rise in prevalence of eye diseases, cardiovascular, urological, and medical conditions. North America dominates the global medical lasers market, and is expected to maintain its lead throughout the forecast period, owing to the high adoption rate of medical lasers
The global Medical Lasers Market is driven by rise in incidences of eye disorders related to the surge in elderly population, growth in number of patients using advanced laser-based treatments globally, and increase in importance of aesthetics. Stringent safety regulations and high rate of failure limit the market growth. Increased disposable incomes and demand for laser treatment in the emerging economies are expected to offer opportunities to the growth of medical laser system market during the forecast period.
It is projected to reach at $12,586 million by 2023, registering a CAGR of 13.6% from 2016 to 2022. The cosmetic end use segment dominated the global market and accounted for a share of nearly half of the total market in 2016.
The increase in incidence in various diseases, such as cardiovascular, urological, skin problems, and eye-related diseases, has resulted in the rise in adoption of medical lasers as they provide non-invasive treatment. Furthermore, increased importance to aesthetics has led to adoption of various medical lasers in cosmetic surgeries. The report analyzes the medical lasers market based on product, application, end use, and region.
The cosmetic segment is expected to account for the major share in the market, owing to increased importance to aesthetics. It is an emerging trend in the medical industry, which is expected to further propel the use of medical lasers for treatment and quality appearance.
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Snapshot of LAMEA Medical Lasers Market
There has been an increased focus of the key vendors in the medical lasers market on emerging markets, namely, Asia-Pacific and LAMEA. This is expected to boost the growth of the medical lasers market. Brazil is experiencing high adoption of medical lasers for oral care due to various dental complications in the Brazilian population. As per the data obtained from, the Brazilian Oral Health Survey (SBBrasil 2010) Project, there was a prevalence of around 48.2% non-treated dental caries. Such high prevalence of dental complications is expected to boost the adoption of medical lasers for treatment purposes, since dentistry is fastest growing application of medical lasers.
Key Findings of the Medical Lasers Market
- The dentistry segment is anticipated to grow at the highest rate during the forecast period.
- North America accounted for nearly half of the share of the total market and acquired a dominant position in 2016.
- In 2016, the ophthalmology segment accounted for a share of nearly one-fourth of the global medical lasers market.
- The solid-state laser systems segment accounted for a share of nearly one-third of the global market in 2016.