Medical Laser Market Size to Reach USD 3112.9 Million by 2026 at a CAGR 6.8% | Valuates Reports
BANGALORE, India, April 22, 2021 /PRNewswire/ -- The Medical Laser Market is segmented by Type Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, Diode Laser Systems, by Application Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiovascular. The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published in Valuates Reports in the Pharmaceuticals & Biotech Category.
The global Medical Laser market size is projected to reach USD 3112.9 Million by 2026, from USD 1953.5 Million in 2019, at a CAGR of 6.8% during 2021-2026.
Lasers are commonly used in medical procedures such as diagnostic, clinical, surgical procedures, and ophthalmic, dental, and cosmetic procedures.
Major factors driving the growth of medical laser market size are:
- Increasing demand for non-invasive surgeries, rising incidences of eye-related disorders, growing demand for laser treatment in dermatology.
- Growing awareness about the safety of these procedures and technological advancements in the process are expected to drive growth over the forecast period.
TRENDS INFLUENCING THE MEDICAL LASER MARKET SIZE
An increase in the prevalence of eye disorders in the geriatric population and a rise in the number of patients using advanced laser-based treatments is expected to drive the growth of the medical laser market size. The vision-related problem is on the increase in recent time due to lifestyle changes and increased screen time. Medica laser treat is used to correct the eye power and restore the 6/6 vision.
Growing demand for aesthetic appeal is expected to increase the growth of the medical laser market size. Medical lasers are used to treat body contouring, acne prevention, and dermal resurfacing. As a result, the demand for less invasive and less time-consuming laser aesthetic procedures is increasing.
Furthermore, the advent of technologically advanced procedure-specific cosmetic laser systems is primarily attracting women to undergo skin treatments in order to achieve quicker results in less time. Key market players are introducing novel energy-based aesthetic laser systems in response to the increasing demand for procedure-specific laser treatments. This, in turn, is expected to create lucrative growth opportunities.
Increases in disposable incomes and demand for laser treatment in developing countries are expected to provide substantial opportunities for medical laser market players, boosting the global medical laser market's development.
MEDICAL LASER MARKET SHARE
Solid-state laser systems are expected to be one of the most lucrative segments. The dominant position in 2018 and would continue to maintain the lead over the forecast period. This is attributed to its wider applications in several photodynamic therapies and aesthetic treatments, as well as it provides quality output.
Based on end-users, the Dermatology segment is expected to be one of the most lucrative segments. This is due to an increase in medical laser adoption in cosmetic procedures, including hair removal and skin resurfacing. Furthermore, the industry is being propelled forward by rising demand for non-invasive treatments and an increase in the number of cosmetic procedures.
Due to an increase in the geriatric population, rapid acceptance of technologically advanced laser treatment options, high disposable incomes, and increased knowledge of medical lasers as a substitute for invasive surgery, Asia-Pacific is projected to be the most lucrative region during the forecast period.
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MEDICAL LASER MARKET SEGMENTS
Following are the segments covered by the report are:
- Solid State Laser Systems
- Gas Laser Systems
- Dye Laser Systems
- Diode Laser Systems.
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Top Companies Covered in this report are:
- Alcon Laboratories
- AngioDynamics Corp.
- American Medical Systems
- Biolase Inc
- Bausch & Lomb Holdings
- Cardiogenesis Corporation
- Lumenis Ltd.
- IRIDEX Corp.
- Novadaq Technologies
- Spectranetics Corporation
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- The global Aesthetic/Cosmetic Lasers market size is projected to reach USD 1160 Million by 2026, from USD 668 Million in 2019, at a CAGR of 8.1% during 2021-2026.
- Ophthalmic Lasers Market was valued at USD 1,111 Million in 2016, and is projected to reach USD 1,516 Million by 2023, registering a CAGR of 4.5% from 2017 to 2023.
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