According to a latest market research report “Medical Laser Systems Market (Product Type – Solid State Lasers, Gas Lasers, Dye Lasers Systems, and Diode Lasers Systems; Application – Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiovascular, and Others): Global Industry Analysis, Trends, Market Size and Forecasts to 2024.” The market size of medical lasers was nearly worth USD 30 Million in 2017 and, will grow significantly with a CAGR of more than 10% over the forecast period from 2018 to 2024. The market size is projected to reach a value of USD 64 Million by 2024.
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Lasers can be used for several medical application including skin surgery, eye surgeries, remove kidney stones, remove tumors and others. Numerous advantages offered by the medical lasers drive their demand in the healthcare sector. The medical laser system has lesser recovery time as compared to the open surgeries. The medical laser system has a small and precise laser beam that ensures better wound healing without any chances of wound infection. They also offer reduced blood loss and minimal postoperative discomfort during surgical procedures.
Medical Laser Systems Market: Driver and Restraint
The growing adoption of minimally invasive procedures is the key factor that driving the growth of the medical laser system market worldwide. The growing prevalence of eye disorders and the growing popularity of laser vision surgeries are promoting the growth of the medical laser system market. Additionally, the benefits offered by the lasers systems over the other traditional medical treatments are likely to escalate the growth of medical laser system market. On the other hand, inflexible regulations on the use of medical lasers systems are expected to restrain the market growth. Moreover, technological advancements in the field of lasers are projected to create several growth opportunities in the medical laser system market in the near future.
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The Solid-State Lasers and Diode Lasers Accounted for the Considerable Market Share in the Medical Laser Treatment
The global medical laser system the market is segmented into type and application. In terms of product types, the medical laser system market is bifurcated as solid-state lasers, gas lasers, dye lasers systems, and diode lasers systems. The solid-state lasers and diode lasers accounted for the considerable market share in the medical laser treatment. These laser systems held the largest share in the global market, with over 35% contribution in 2017. These lasers are used in a variety of significant medical procedures such as diagnostics, photodynamic therapy, and surgical treatments. They are very effective in cancer treatment. Thus, this anticipated to fuel the growth of the laser market. Furthermore, by, ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular and others. Among them, the medical lasers used for cosmetic application are anticipated to grow at a significant pace over the forecast period.
Region Wise Performance of “Medical Laser Systems Industry”
Geographically, North America holds the maximum market share in the medical laser system market followed by Europe. It is anticipated to be the dominating region in this market during the forecast period. The key factors that are responsible for the growth of North America medical laser system market are rising aesthetic surgeries, high consumption lasers in the cancer treatment and developed healthcare infrastructures. In addition, ongoing research and development in the medical laser system are likely to contribute to the growth of this market in the North America region. Moreover, Asia Pacific is the fastest growing region in the medical laser system market owing to the growing disposable income, rising healthcare spending and increasing adoption of laser systems.
Medical Laser Systems Market: Competitive Landscape
The medical laser system market is highly fragmented. The key players in the global medical laser system market include Biolase Inc, Bausch & Lomb Holdings, Cardiogenesis Corporation, Inc, Lumenis Ltd., IRIDEX Corp., Novadaq Technologies, Inc., Photomedex, Inc., Spectranetics Corporation, Syneron-Candela, and Alcon Laboratories, Inc.,
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