Latest published market study on Medical Laser Market provides an overview of the current market dynamics in the Medical Laser space, as well as what our survey respondents—all outsourcing decision-makers—predict the market will look like in 2027. The study breaks market by revenue and volume (wherever applicable) and price history to estimates size and trend analysis and identifying gaps and opportunities. Some of the players that are in coverage of the study are Bausch Health Companies Inc., Biolase Inc., Boston Scientific Corporation, Cryolife Inc., Ellex Medical Lasers Limited, Iridex Corporation, Koninklijke Philips N.V., Lumenis Ltd., Novartis Ag, and Syneron Medical Ltd.
Get ready to identify the pros and cons of regulatory framework, local reforms and its impact on the Industry. Know how Leaders in Medical Laser are keeping themselves one step forward with our latest survey analysis
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Medical Laser Market is expected to grow at a significant CAGR of ~15% during the forecast period (2021-2027). Medical Lasers are medical devices which focus light precisely on the required area to treat or remove tissues. The term ‘laser’ stands for light amplification by Stimulated Emission of Radiation. Ordinary light like that from a light bulb has many wavelengths and spreads in all directions. Laser lights on the other hand have a specific wavelength. It is focused in a narrow beam and creates a very high-intensity light. Since lasers can focus very accurately on tiny areas, they can be used for very precise surgical work or for cutting through tiny tissue sections (in place of scalpel). Lasers are used in all kinds of surgical procedures, from cosmetic surgery (to remove tattoos, scars, stretch marks, wrinkles, sunspots, spider veins, hair etc.), refractive eye surgery, dental procedures, and general surgery (for treatments of cataract, breast, tumor, plastic surgery, and other such procedures).
Key reasons for the growth of the medical laser market is driven by the increase in prevalence of eye disorders of geriatric population and rise in number of patients which use advanced laser based treatments. In addition to this, the surge in number of cosmetic and non-invasive surgeries and increase in importance of aesthetics laser procedures are some of the major factors which boost the global medical laser market. However, stringent safety regulations and high rate of failure of laser based surgical procedure have restrained the market growth. On the contrary, increase in disposable incomes and growth in laser treatment demand in emerging countries are expected to offer significant profitable opportunities for the market players, which leads to increase growth in the global medical laser market. Treatments can also be expensive and are therefore not accessible to everyone. Laser eye surgery can cost anywhere from US$600 to US$8,000 or more based on your healthcare plan and the provider or facility you use for your surgery. The costs of laser skin therapies can range from US$200 to over US$3,400, according to the University of Michigan Cosmetic Dermatology & Laser Center.
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“Amongst Product, Diode Laser Systems segment holds the major share”
Based on Product, the Medical Laser Market is segmented into Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, and Diode Laser Systems. According to the American Society of Plastic Surgeons (ASPS), 18 million people underwent aesthetic surgeries in 2018 in the United States which is almost a quarter of a million more than 2017. In addition to this, favorable reimbursement policies and government initiatives are aiming to broaden treatment accessibility and will stimulate the expansion of industry.
“Amongst Application, Dermatology Segment holds the major share”
Based on Type, the Medical Laser Market is segmented into Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiology, Gastroenterology, and Others. The number of dermatologists have increased significantly in the years. In the 1970s, there were 4,004 dermatologists in the United States and the number has increased to 19,957 till 2019. Much of the 50-year increase comes from the larger proportion of women entering the specialty.
“Amongst End-User, Power Utilities segment holds the major share”
Based on End-User, the Medical Laser market is segmented into Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Others. Especially during the covid-19 pandemic, hospitals beds and hospital constructions increased significantly all over the world. For example, in NYC, March 2020, they tripled their number of beds in the intensive care unit (ICU) originally present in 11 hospitals.
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