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Medical Laser System Market

Global Medical Laser System Market Size, Share, Development, Growth and Demand Forecast to 2023

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Report Code: LS10172
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The medical laser system market is growing at a considerable rate, due to increased awareness of medical aesthetics, growing number of patients using advanced laser based treatments, and rapid rise in age related ophthalmic disorders. Rise in disposable incomes in developing economies and increased demand for laser treatment in emerging economies have provided ample opportunities to the growth of medical laser system market to grow in the coming years.

North America leads the medical laser system market, due to the rising incidences of chronic diseases such as diabetes and obesity. Asia-Pacific is growing with the highest rate, due to unaddressed need for medical treatment in developing countries such as, India and China in the region.

Medical Laser Systems are used to produce a monochromatic beam of light containing a specific wavelength and it is strongly concentrated. The demand for lasers in the field of medicine is rising rapidly, due to the flexibility of its light. Power, pulsed or continuous wave operation, and wavelength of laser, define the characteristics of laser light.

On the basis of products, the medical laser system market can be categorized into solid state laser systems, diode laser systems, dye laser systems and gas laser systems. The diode laser system leads the medical laser system market and is expected to grow in the coming years, due to its varied medical applications such as, numerous aesthetic treatments and photodynamic therapy. Solid state laser system is expected to grow with the highest rate, due to its numerous modifications having specific applications in medical related treatments such as, periodontology, tattoo removal, skin treatment and vein removal.

Gas laser systems include metal vapor lasers, excimer lasers, argon lasers, helium-neon lasers, krypton lasers and CO2 lasers. Solid state laser systems include, erbium yttrium aluminum garnet lasers, alexandrite lasers, holmium yttrium aluminum garnet lasers, ruby lasers, potassium titanyl phosphate and neodymium yttrium aluminum garnet lasers.

Among the solid state laser systems, neodymium yttrium aluminum garnet lasers leads the solid state laser systems market, due to its applicability in treatment of ailments in various medical fields such as, gastroenterology, dermatology, ophthalmology, urology and gynecology. The holmium yttrium aluminum garnet laser is expected to grow with the higher rate in the coming years, due to its increasing applications in the field of urology, dermatology and cardiology. Rising requirement of cosmetic events including birthmark and tattoo removal, pigment lesion, wrinkle treatment and hair removal is also supporting the high growth rate of holmium yttrium aluminum garnet lasers.

On the basis of applications, the medical laser system market can be categorized into cardiovascular, ophthalmology, rheumatology, urology, dermatology, traumatology, dentistry, gastroenterology and gynecology. Dermatology leads the medical laser systems market followed by ophthalmology segment. Increasing application of lasers in other fields such as, cardiovascular is making a slight decrease in the dermatology and ophthalmology applications. Rapid technological advancements, incidence of cost effective laser based techniques for medical treatment and occurrence of heart related diseases has supported in the growth of the cardiovascular application.

Technology advancement, prevalence of chronic diseases and growing importance of aesthetics are some of the major factors driving the growth of medical laser system market. Some of the factors restraining the growth of the medical laser system market are high failure rates, compliance with stringent safety regulations and implementation of affordable care act in the U.S.

Meeting the need for laser treatment globally in several applications such as, cardiovascular diseases, dermatology diseases, and technological advancements are the key strategies for the competitors in the medical laser system market. Some of the major competitors in the medical laser system market are Cardiogenesis Corporation, Bausch & Lomb Holdings, Inc., Photomedex, Inc., IRIDEX Corp., American Medical Systems, Inc., Syneron Medical Ltd., Lumenis Ltd., Alcon Laboratories, Spectranetics Corporation, Inc., and Biolase Inc. 

 

Report Coverage

  • Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
  • Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
  • Uncovers potential demands in the market
  • Porter analysis identifies competitive forces within the market
  • Provides information on the historical and current market size and the future potential of the market
  • Provides sizes of key regional markets using yardsticks of segments, applications, and segments of applications
  • Highlights the competitive scenario of the market, major competitors, and benchmarking
  • Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market.

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