Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.