Fact.MR – A Market Research and Competitive Intelligence Provider: The global medical laser systems market is projected to grow at a steady pace, expanding at a CAGR of 8.5% during the forecast period 2021 to 2031, as per a study by Fact.MR.
At US$ 7.5 Bn in 2021 Medical Laser Systems Sales to Increase by US$ 3.5 Bn Since 2020
The study of the medical laser systems market discloses key growth drivers boosting the market growth. The market research report also provides insights into medical laser systems demand outlook in terms of product type and application. As per Fact.MR, surging adoption of laser-based treatments for chronic diseases to remain the chief growth driver
Fact.MR – A Market Research and Competitive Intelligence Provider: The global medical laser systems market is projected to grow at a steady pace, expanding at a CAGR of 8.5% during the forecast period 2021 to 2031, as per a study by Fact.MR. Owing to the rising consumer preference for minimally invasive surgeries across the globe, the market for medical laser systems is estimated to reach a valuation of US$ 7.5 billion by 2031 in comparison to US$ 4 billion registered in 2020.
Medical laser systems are increasingly being adopted by hospitals and specialized clinics globally, for a wide range of medical applications such as cancer therapy, cardiovascular treatment, dermatology, ophthalmology, urology treatment, and dentistry among others. As per a report by the National Institute of Health (NIH), laser lithotripsy is a widely used technique for the treatment of urinary-related ailments, such as biliary stones.
Thus, the rising incidence of diseases such as cancer, arthritis, heart attacks, diabetic retinopathy, and others coupled with increasing demand for minimally invasive treatments is anticipated to present lucrative growth opportunities for the market.
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Fact.MR has estimated that solid-state lasers will remain the dominant application segment in the coming years. On account of benefits offered such as high reliability, lower cost of purchase, small compact design, and prolonged life span, the demand for solid-state lasers is projected to grow at a CAGR of 6% during the forecast period.
“Leading players and research institutes are focusing on adopting advanced technologies such as photonics to explore potential benefits of novel laser technologies in medical applications such as ophthalmic, dental, diagnostic, and others. This will result into skyrocketing demand for medical laser systems in the coming years,” says the Fact.MR analyst.
Key Takeaways from Medical Laser Systems Market Study
- Favored by the increasing use of medical laser systems in cosmetic procedures, the market in the U.S. is expected to surpass a valuation of US$ 1.1 billion in 2021.
- The market in China is anticipated to reach US$ 1.7 billion by 2031, on the back of increasing incidences of chronic and cardiovascular diseases in the country.
- The Japan medical laser systems market is projected to grow at a CAGR of 4% over the forecast period, owing to increasing technological advancement in the medical landscape.
- Due to the increasing prevalence of eye-related disorders such as retinitis pigmentosa and diabetic retinopathy, the demand for ophthalmic lasers is estimated to grow at a CAGR of 5% through 2031.
- Based on application, the surgical lasers are expected to dominate the segment accounting for over 40% of the market share in 2021.
Key Drivers
- Increasing consumer preference towards minimally invasive surgical treatment is fueling the demand for medical laser systems.
- Rising prevalence of ophthalmic, urologic, and chronic diseases across the globe is driving the market.
- Increasing investment in healthcare and rise in number of hospitals are the factors spurring the sales of medical laser systems.
Key Restraints
- High rate of failure in laser-based treatment is a factor hampering the sales of medical laser systems.
- High maintenance cost associated with medical laser systems is negatively affecting the market growth.
- Long validation process for medical laser systems is restraining the growth of the market.
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Competitive Landscape
Some prominent players operating in the medical laser systems landscape are aiming at establishing collaboration, agreement, merger & acquisition to expand their customer base share. For instance,
- In 2020, DEKA M.E.L.A. srl, a company based in Italy, announced entering into an exclusive distribution agreement with, an American laser equipment supplier, Cartessa Aesthetics to market its novel aesthetic platform device named, Luxea. The products is a multi-modality laser platform and intense pulsed light system.
- In 2019, ELT Sight, Inc. announced acquiring the IP and assets of Medical technology manufacturer in Germering, Germany, MLase AG to utilize its Excimer ophthalmic laser system for glaucoma surgery.
Leading players in the medical laser systems market profiled by Fact.MR are:
- Biolase Inc.
- Bausch & Lomb Holdings
- Cardiogenesis Corporation, Inc.
- Lumenis Ltd.
- IRIDEX Corp.
- Novadaq Technologies, Inc.
- Photomedex, Inc.
- Spectranetics Corporation
- Syneron-Candela
- Alcon Laboratories, Inc.
- AngioDynamics Corp.
- Fotona
- American Medical Systems, Inc.
- Elforlight Ltd.
More Valuable Insights on Medical Laser Systems Market
Fact.MR, in its new report, offers an unbiased analysis of the global medical laser systems market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in the medical laser systems market with detailed segmentation:
- Product
- Diode Medical Laser Systems
- Dye Medical Laser Systems
- Gas Medical Laser Systems
- Solid State Medical Laser Systems
- Application
- Aesthetic Medical Lasers
- Ophthalmic Medical Lasers
- Surgical Medical Lasers
- Dental Medical Lasers
- Diagnostic Medical Lasers
Key Questions Covered in the Medical Laser Systems Market Report
- The report offers insight into medical laser systems demand outlook for 2021-2031
- The market survey also highlights projected sales growth for the medical laser systems market between 2021 and 2031
- Medical laser systems market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Medical laser systems market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
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Dental Lasers Market- Periodontal diseases, such as gum bleeding and untreated tooth decay, are on the rise, which could boost the market for dental lasers. The need for dental lasers is expected to rise as the demand for enhanced dental care services for periodontal issues, tooth caries, and gum diseases rise. Dental lasers are commonly regarded as effective instruments due to their increased efficiency, reduced bleeding, more comfortable treatment, and superior soft tissue management. Because of its potential to overcome the shortcomings of traditional dental procedures, non-invasive painless laser technology has grown in popularity.
Laser Cancer Therapy Market- The leading players in the laser cancer therapy market are concentrating their efforts on introducing innovative goods to the market. Manufacturers are concentrating their efforts on introducing innovative and technologically sophisticated items into the laser cancer therapy market that can match the various treatment demands that cancer treatment necessitates. Various cancers are on the rise at an alarming rate. The increased prevalence and incidence of cancer necessitates novel treatment alternatives, which has resulted in an increase in demand for laser cancer therapy. Increased government R&D spending to ensure improved treatment alternatives and lucrative prospects.
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Source: Fact.MR