Indian Solid and Diode Medical Lasers Market To Generate Revenue Worth $46.5 Million by 2030
- Published: September 2020
The solid and diode medical lasers market of India is expected to grow at a CAGR of 13.7% during the forecast period (2020–2030), to generate $46.5 million revenue by 2030. The major driving factors for the industry are the increasing number of aesthetic treatments, supportive government initiatives for healthcare infrastructure improvement, rising geriatric population, and surging number of seminars, exhibitions, and conferences that are being conducted to increase the awareness about the applications of medical laser systems.
The solid and diode medical lasers market in India has witnessed the negative impact of the COVID-19 pandemic. Medical device manufacturers, including those that develop solid and diode medical lasers in India, are heavily dependent on China, Germany, Italy, and the U.S. for importing components. Due to the COVID-19 pandemic, these manufacturers are now exposed to supply shortages. The associated risks are primarily due to the limited operational capacity in India.
Diode Laser Systems Are Expected To Dominate Industry during Forecast Period
Based on product, the Indian solid and diode medical lasers market is bifurcated into diode laser systems and solid-state laser systems. Between these, during the forecast period, diode lasers would dominate the industry. This is mainly attributed to the high usage of diode laser systems in the dermatological and dentistry fields.
Regionally, South India held the largest share in the Indian solid and diode medical lasers market in 2019. This is mainly attributed to the rising demand for aesthetics enhancement procedures among both men and women in the region. Moreover, the larger number of hospitals, increasing adoption of technologically advanced aesthetic treatments, and growing geriatric population are playing a pivotal role in the growth of the market in this region.
Product Launch Most Effective Strategic Measure Taken by Players in Industry
Players are involved in product launches to gain a significant edge in the Indian solid and diode medical lasers market. For instance, in April 2019, Lumenis Ltd. launched the Legend Pro+ platform, a multi-application platform integrated with advanced technologies. Legend Pro+ offers a comfortable solution, with fast results, for the face and body. Moreover, it provides long-term efficacy and leads to minimal pain and downtime, with no need for anesthesia. Therefore, the innovations in laser treatment products boost the growth potential for the companies in the industry.
Furthermore, in November 2018, Sciton Inc. released ALLURA, a micro-invasive laser module, for rapid fat reduction and skin contraction in the submental, neck, and chin areas.
Some of the key players in the Indian solid and diode medical lasers market are BIOLASE Inc., Sisram Medical Ltd., Lumenis Ltd., Cutera Inc., Fotona D.o.o., Candela Corporation, Hologic Inc., PhotoMedex Inc., EUFOTON S.R.L., BISON Medical, IPG Photonics Corporation, Coherent Inc., JENOPTIK AG, Jeisys Medical Inc., Sciton Inc., and EL.EN. S.p.A.