Selbyville, Delaware , Feb. 17, 2021 (GLOBE NEWSWIRE) -- As per reliable predictions, global medical laser system market had reached a valuation of USD 15300 billion in the year 2019 and is predicted to expand with a CAGR of 16% between 2020 and 2027. Factors such as growing occurrence of ophthalmic disorders and improving cognizance regarding personal aesthetics are boosting the demand for medical laser systems across the globe.
The study also mentions the several market segmentations such as product type, application spectrum, end-user scope, and the regional outlook. It emphasizes on the competitive terrain by elaborating on the business-centric strategies adopted by the industry participants in order to gain a competitive lead in this business vertical.
For those unfamiliar, medical lasers are primarily used in surgical procedures including dental or cosmetic surgery. These devices are widely adopted in gynecology, dermatology, ophthalmology, and dentistry applications as they are proven useful to vaporize tissues.
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Thus, increased pervasiveness of ophthalmic disorders is adding traction to global medical laser system industry size. According to a research published in Journal of Global Health in June 2018, the frequency of cataract in the age group of 45-49 is around 6.71% while among 85-89 years is 73.01%.
Increasing awareness pertaining to maintaining personal looks is also contributing towards global medical laser systems industry outlook. As per the American Society of Plastic Surgeon, around 594,266 laser skin resurfacing surgeries were conducted in the United States in the year 2018.
Rising concerns regarding high degree of system failure and strict regulatory outlook for the use of the product could, however, potentially act as a bottleneck to the growth of global medical laser system market. Regardless, technological breakthroughs in this business space could act as a lucrative growth opportunity for the industry participants in the upcoming years.
Highlighting the geographical landscape
The regional scope of global medical laser system market consists of Europe, North America, Latin America, Asia-Pacific, and the rest of the world. Among these, North America currently accounts for the largest market share and is predicted to display its dominance in the upcoming years. Growing population and rising number of cosmetic surgeries are facilitating the business outlook in North America.
Meanwhile, Asia-Pacific medical laser system industry is slated to record a robust compound annual growth rate during the study period, primarily due to rising per capita income and improving cognizance regarding laser surgeries.
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Global Medical Laser System Market Product Spectrum (Revenue, USD Billion, 2017-2027)
- Diode Laser Systems
- Dye Laser Systems
- Gas Laser Systems
- Solid-State Laser Systems
Global Medical Laser System Market Application Terrain (Revenue, USD Billion, 2017-2027)
- Urology
- Dentistry
- Gynecology
- Dermatology
- Ophthalmology
- Others
Global Medical Laser System Market by End-user Reach (Revenue, USD Billion, 2017-2027)
- Dental
- Cosmetic
- Surgical
Global Medical Laser System Market Regional Outlook (Revenue, USD Billion, 2017-2027)
North America
- Canada
- United States
Latin America
- Mexico
- Brazil
Asia-Pacific
- China
- South Korea
- India
- Australia
- Japan
- Rest of Asia-Pacific
Europe
- United Kingdom
- Germany
- Italy
- France
- Spain
- Germany
- Rest of Europe
Rest of the World
Global Medical Laser System Market Competitive Dynamics (Revenue, USD Billion, 2017-2027)
- Syneron Medical Ltd.
- Bausch & Lomb Holdings Inc.
- Boston Scientific Corporation
- BIOLASE Inc.
- Koninklijke Philips N.V.
- Novartis AG
- CryoLife Inc.
- Ellex Medical Lasers Ltd.,
- Lumenis Ltd.
- IRIDEX Corporation
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Medical Laser System Market, by Region, 2018-2027 (USD Billion)
1.2.2. Medical Laser System Market, by Solution, 2018-2027 (USD Billion)
1.2.3. Medical Laser System Market, by Application, 2018-2027 (USD Billion)
1.2.4. Medical Laser System Market, by Industry, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Medical Laser System Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Medical Laser System Market Dynamics
3.1. Medical Laser System Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Medical Laser System Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Medical Laser System Market, by product type
5.1. Market Snapshot
5.2. Global Medical Laser System Market by product type, Performance - Potential Analysis
5.3. Global Medical Laser System Market Estimates & Forecasts by product type 2017-2027 (USD Billion)
5.4. Medical Laser System Market, Sub Segment Analysis
5.4.1. Solid-State Laser Systems
5.4.2. Gas Laser Systems
5.4.3. Dye Lasers Systems
5.4.4. Diode Laser Systems
Chapter 6. Global Medical Laser System Market, by Application
6.1. Market Snapshot
6.2. Global Medical Laser System Market by Application, Performance - Potential Analysis
6.3. Global Medical Laser System Market Estimates & Forecasts by Application 2017-2027 (USD Billion)
6.4. Medical Laser System Market, Sub Segment Analysis
6.4.1. Ophthalmology
6.4.2. Dermatology
6.4.3. Gynecology
6.4.4. Urology
Chapter 7. Global Medical Laser System Market, end user
7.1. Market Snapshot
7.2. Global Medical Laser System Market by Industry, Performance - Potential Analysis
7.3. Global Medical Laser System Market Estimates & Forecasts by Industry 2017-2027 (USD Billion)
7.4. Medical Laser System Market, Sub Segment Analysis
7.4.1. Surgical
7.4.2. Cosmetic
7.4.3. Dental
Chapter 8. Global Medical Laser System Market, Regional Analysis
Related Report:
Medical Laser Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025
Medical Laser Market is expected to exceed USD 10 billion by 2025, as per new research report. Growing awareness among people regarding aesthetics will surge the adoption of cosmetic surgeries. Availability of minimally invasive surgical techniques will thus, increase the demand for procedures performed using medical laser technology, thereby accelerating industry growth. Rising awareness among people regarding aesthetics will serve to be another positive impact rendering factor in the business growth. Growing adoption of cosmetic surgeries worldwide will surge the demand for advanced medical laser systems. Improvements in healthcare facilities and growing medical tourism in developing economies will benefit the market development. Moreover, favorable reimbursement policies for certain laser procedures will create several growth opportunities for industry players, thereby accelerating business growth over the forecast period.
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