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Medical Laser System 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, Size, Share and Forecasts to 2026

  • Published : December, 2020

  • Rep Id : HC0397

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on medical laser system market provides in-depth analysis of segments and sub-segments in the global as well as regional medical laser system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional medical laser system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of global medical laser system market. According to the report, the global medical laser system market is projected to grow at a CAGR of 6.18% over the forecast period of 2020-2026.

 

Market Insight

The laser has become an important technology in the field of medicine. The use of lasers in the medical field is continuously rising. Medical lasers are being used for various clinical procedures including dermatology and plastic surgery, dentistry, wound healings, nerve stimulation, cancer therapy, and ophthalmic surgeries. The common types of medical lasers are gas lasers, fiber lasers, dye lasers, solid-state lasers, excimer lasers. Nonetheless, diode lasers have been extensively used in numerous surgical procedures including soft tissue cutting, cancer thermal therapy, and coagulation. The global medical laser system market generated a revenue of USD 6253.58 million in 2019 and is likely to reach USD 9282.09 million by 2026.


The laser systems for the healthcare market have also been affected by the COVID-19 pandemic. The decreased demand from the end-users is the major challenge faced by the medical laser system vendors. As the cosmetic procedures, ophthalmology surgeries were suspended, the demand for medical lasers from these clinics also reduced significantly. Thus, for 2020, sales of medical laser systems will remain low. Moreover, as the pandemic situation becomes critical, healthcare institutions are less willing to spend on non-essential products such as medical laser solutions. Furthermore, the shortage of labor and disruption of supply chain of the hardware industry during the pandemic are likely to cause manufacturing issues


Increasing occurrences of eye disorders mainly among the growing aging population is one of the major factors driving the growth of the medical laser system market across the globe. Furthermore, an increase in the growth of minimally invasive surgeries is the other key factor in the growth of the medical laser system market. According to the ASPS annual plastic surgery statistics report, there were more than 17.7 million surgical and minimally-invasive cosmetic procedures performed in the United States in 2018, a number that has risen steadily over the past five years. Minimally invasive techniques are increasingly used to manage diseases such as ophthalmic diseases, cardiac arrhythmias, dermatological conditions, cancer tumors that include tumors in the kidneys, lungs, liver, and the musculoskeletal system, and spinal disorders. However, the high cost of laser therapies and the shortage of well-trained laser specialists are some of the major factors that may hamper the growth of the medical laser system market. Moreover, technological advancements in the Excimer laser is expected to provide new opportunities for the growth of the market.

 

In terms of region, North America is likely to dominate the medical laser system market. This is primarily due to the increasing prevalence of diseases related to eyes and teeth in the geriatric population. Furthermore, an increase in investment in the healthcare sector to provide a better quality of treatment, growing adoption of advanced technologies, and presence of major players in this region also increase the market growth in the North American region. In addition, the rising inclination of females towards the removal of stretch marks in the US and Canada is contributing to the growth of the market. On the other hand, Europe holds the second position in the global medical laser system market. The increase in the use of medical laser systems in a wide range of therapeutic applications such as cancer therapy, cardiovascular treatment, and dermatology is the major factor driving the growth of the global medical laser market in this region. Moreover, Asia Pacific is the fastest-growing region and is expected to grow with the highest CAGR during the forecast period. Rising preferences of the people in the removal of a tattoo is boosting the growth of the global medical laser market in this region.


Medical Laser System Market

 

Segment Covered

The report on the global medical laser system market covers segments such as product type, and application. On the basis of product type, the sub-markets include solid state lasers, gas lasers, dye lasers systems, and diode lasers systems. On the basis of application, the sub-markets include ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as 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.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the medical laser system market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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