Product ID: SQMIG35A2866
Medical Laser Systems Market Size, Share, Growth Analysis, By Product type(Solid State Laser Systems, Gas Laser Systems), By Application(Ophthalmology lasers, Surgical Lasers), By End User(Hospital, Dermatology & Cosmetic Clinics) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2866 |
Region:
Global |
Published Date: April, 2024
Pages:
214
|
Tables:
93 |
Figures:
70
Medical Laser Systems Market Insights
Global Medical Laser Systems Market size was valued at USD 3.9 billion in 2022 and poised to grow from USD 4.8 billion in 2023 to USD 10.2 billion by 2031, at a CAGR of 11.5% in the forecast period (2024-2031).
Over the projected period from 2022 to 2029, the medical laser systems market is expected to grow. Medical lasers can perform photochemical, photo ablative, and photothermal processes; their main applications are in the treatment and diagnosis of medical disorders. Some of the factors propelling the growth of the medical laser systems market include the rising requirement for non-invasive procedures, the rise in chronic illness prevalence, the growing adoption of cutting-edge laser-based treatments, and the rising demand for laser goods in diagnosis. Laser surgery can be used to remove redness, dilated blood vessels, hairs, improve skin texture and cellulite, and repair loose skin from ageing, according to a 2022 report by the U.S. Department of Health and Human Services.
Medical lasers are strong instruments that produce intense focused light beams for various medical diagnostic and therapeutic purposes. In various medical specialties, including dentistry, ophthalmology, dermatology, and surgery, medical lasers have become indispensable instruments. Medical lasers are extremely useful for operations like laser eye surgery, skin resurfacing, and tumor or lesion elimination due to their tremendous versatility and ability to precisely target tissues or cells. Throughout the projected period, dermatological and cosmetic clinics, aesthetic and dermatology lasers, are expected to develop at the fastest rates.
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Medical Laser Systems Market Segmental Analysis
The global medical laser system market is segmented based on product type, application type, end user type and regional type. In terms of product type, the market is segmented into solid state laser systems, gas laser systems, dye laser systems and diode laser systems. Based on application type, the market is bifurcated into ophthalmology lasers, surgical lasers, aesthetic & dermatology lasers and others. Based on end user type, the market is bifurcated into hospitals, dermatology & cosmetic clinics, ophthalmic clinics and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. Throughout the projected period, product types is anticipated to develop at the fastest rates.
Analysis by Product
As per categorization by product type, the market is classified into solid state laser systems, gas laser system, dye laser systems and diode laser systems. Among these, solid state laser systems earned the largest share and continue to dominate the market. Research centers and the medical community have devoted a great deal of attention to the past few years to investigating the possible advantages of novel laser technology in medical applications. The development of new lasers has been greatly aided by the recent advances in photonics. Fiber lasers, which are a kind of solid-state laser, are becoming increasingly common among other kinds of lasers. The fiber's waveguide structure possesses ideal physical properties, the use of fiber lasers has increased steadily over the last few decades.
Due to their many uses, dependability, and technological improvements, gas laser systems, dye laser systems, and diode laser systems are anticipated to grow at the quickest rates in the global medical laser systems market. Whereas dye lasers are more adaptable and adjustable for a wider range of medical applications, gas lasers provide high power outputs and accurate tissue ablation. Diode lasers are becoming increasingly popular in various medical specializations due to their portability, affordability, and ability to perform minimally invasive operations.
Analysis by End User
Medical laser system innovations are transforming hospital procedures globally by improving accuracy, productivity, and security. Hospitals are using laser systems more often for a variety of disciplines, including oncology, ophthalmology, dermatology, and urology, for procedures like tumor ablation and skin resurfacing. The adoption of these systems is being driven by the need for minimally invasive techniques and the ability to customize treatments to meet the specific needs of each patient, making them essential instruments in contemporary medical institutions.
Due to rising demand for precise and non-invasive treatments, dermatology and cosmetic clinics as well as ophthalmic clinics are expected to rise at a quick rate in the global medical laser systems market. Medical lasers are quite popular among patients looking for cosmetic enhancements as they provide effective treatment for a variety of skin issues, including wrinkles, acne scars, and pigmentation disorders. These treatments are provided in dermatology and cosmetic clinics. Similarly, laser systems are essential instruments in ophthalmology clinics for vision correction operations like cataract surgery and LASIK, which drives their rapid market expansion and use.
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Medical Laser Systems Market Regional Insights
The market for medical laser systems is dominated by North America due to the region's high level of disposable income, ageing population, and rising incidence of age-related illnesses. due to the quicker uptake of other medical laser technologies including crossbeam and diode lasers. Further pushing the need for medical laser systems in the area for related surgeries is the rising incidence of ophthalmology, cardiology, cancer, orthopedic, and dental illnesses. In 2019 the second-biggest market for medical laser systems was found in Europe. The European Medical Laser Association (EMLA) and the European Society for Lasers and Energy Based Devices (ESLD) offer forums for members to interact and advance laser technologies. This is probably going to increase medical laser systems' visibility throughout Europe.
Over the course of the forecast period, the medical laser systems market in Asia Pacific is anticipated to develop at the quickest rate, Parellel to Latin America and Middle East & Africa. Southeast Asian countries execute a high volume of cosmetic surgery, which is projected to support the region's medical laser systems market expansion. With around a million procedures annually, South Korea is said to be the region's biggest market for cosmetic laser surgery. Additionally, an additional factor driving the medical laser systems market in Asia Pacific during the forecast period is the growth in the prevalence of chronic disorders.
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Medical Laser Systems Market Dynamics
Drivers
Technological Innovations
- Advances in flap production technology, such as the femtosecond laser, have improved vision and decreased the rate of flap complications and postoperative dry eye disease (DED). Furthermore, enhancements in laser ablation profiles have resulted in better vision, particularly in low-light conditions. Therefore, as eye diseases become more commonplace worldwide, there is an urgent demand for medical lasers.
Laser Procedures Growing
- It is anticipated that the growing desire for minimally invasive, painless medical procedures will be advantageous to the industry. The numerous campaigns that healthcare organisations use to encourage medical travel also present a chance for market growth. Growing disposable incomes and the need for laser therapy in emerging countries will both contribute to market growth in the coming year.
Restraints
Complex procedures Challenges
- The market's growth pace will be hindered by the stringent safety protocols and high failure rate. The market for medical laser systems will be challenged by emerging nations' lack of healthcare infrastructure and a shortage of qualified personnel. This led to a decline in the general population's decision to receive this treatment with complete confidence.
High Expenses
- The high expense of medical laser services is the reason why fewer clients are selecting these facilities. People from moderate to lower socioeconomic levels cannot afford these kinds of services due to the high cost of the approaches. Strict safety regulations and the high failure rate of laser procedures limit the market's potential growth.
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Medical Laser Systems Market Competitive Landscape
Many significant multinational competitors fighting for market share define the competitive landscape of the global medical laser systems market. Companies with broad product portfolios and global reach, such Lumenis Ltd., Alma Lasers Ltd., and Cutera Inc., dominate the market. El.En. S.p.A., Biolase Inc., and Cynosure Inc. are a few other notable participants. The market is becoming more competitive because of these businesses' constant innovation in introducing cutting-edge laser technology to meet the needs of various medical specialties.
Top Player’s Company Profiles
- Bausch Health Companies Inc. (Canada)
- Fujikura Ltd. (Japan)
- Alcon Laboratories, Inc. (Switzerland)
- Lumenis Be Ltd. (Israel)
- Photomedex (U.S.)
- LASOS Lasertechnik GmbH (Germany)
- Bausch & Lomb Incorporated (U.S.)
- Novadaq Technologies, Inc. (Canada)
- Stryker (U.S.)
- IRIDEX Corporation (U.S.)
- CryoLife, Inc. (U.S.)
- BIOLASE, Inc. (U.S.)
- American Medical Systems (U.S.)
- Cynosure (US) Modu-Laser (U.S.)
Recent Developments
- In March 2022, the only FDA-approved 755 nm picosecond laser system that uses quick pressure pulses rather than heat is Cynosure's PicoSure Pro system. All skin types can benefit from the safe and efficient elimination of pigmentation and skin renewal provided by this cutting-edge technology. The AMWC Congress in Monaco is where the unveiling is expected to happen.
- In March 2021, the United States has seen the introduction of the Clear Brilliant Touch laser by Bausch Health Companies Inc. and its Solta Medical division. By combining two wavelengths, this next-generation solution provides patients with different skin types and ages with a personalized and all-encompassing therapy regimen.
- In April 2021, FDA approved Lumenis Ltd.'s most recent IPL device, which was designed specifically to reduce the symptoms of dry eye illness caused by malfunctioning meibomian glands (MGD). This is a significant development in the management of dry eye syndromes.
Medical Laser Systems Key Market Trends
- Future in Laser Vision Correction and Advance Dermatological Technologies: The Refractive Surgery Council reports a rise in laser vision repair treatments in the United States. Additionally, there was an upward trend in the number of laser vision correction procedures performed in the third quarter of 2021, rising by 48.0% from 2020. in procedures including PRK, SMILE, LASIK, and others. The emphasis in the fields of dermatology and skincare has now moved from traditional therapeutic approaches to cutting-edge technologies. Over the projection period, this market is expected to see high growth potential.
- Minimal Invasive Treatment: Treatment options for skin lightening, pigmentation removal, and minimally invasive anti-aging are expected to become more widely used during the projected period, which will accelerate market expansion. The increasing number of non-invasive surgeries employing laser systems is being carried out due to the introduction of technologically sophisticated goods and the growing number of cases of eye disorders, which is anticipated to spur industry expansion. For example, the Iridex 532 and Iridex 577 Lasers were introduced in the United States by IRIDEX Corporation in January 2024. The unique MicroPulse Technology of the business powersbothe lasers, which may be tailored to treat glaucoma and other retinal conditions.
Medical Laser Systems Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the increasing need for efficient eye therapies has been met by technological developments in flap manufacture and laser ablation profiles, which have improved eyesight outcomes and decreased problems. The medical laser market is predicted to increase significantly due to rising disposable incomes in emerging economies, healthcare organizations' attempts to promote medical tourism, and patients' growing demand for minimally invasive operations. Tight safety regulations and a high failure rate impede the medical laser systems market's expansion. In developing countries, there is also a deficiency of medical experts and infrastructure, which undermines public trust in these therapies. Furthermore, the high costs of medical laser treatments discourage customers, especially those from middle-class and lower-class backgrounds, which limits the potential for market expansion.
Major multinational players like Lumenis Ltd., Alma Lasers Ltd., and Cutera Inc., along with other noteworthy players like Cynosure Inc., define the competitive landscape of the global medical laser systems market. These players continuously innovate to introduce advanced laser technology across diverse medical specialties, intensifying market competition. With a noteworthy growth in laser vision repair treatments in the US and a 48.0% increase in laser vision correction procedures in the third quarter of 2021, the future of laser vision correction and advanced dermatological technologies is bright. In addition, the trend towards less invasive procedures for skin lightening, pigmentation removal, and anti-aging, combined with the advent of highly advanced laser systems, is expected to propel substantial market growth throughout the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.9 billion |
| Market size value in 2031 | USD 10.2 billion |
| Growth Rate | 11.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Laser Systems Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Laser Systems Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Laser Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Laser Systems Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Laser Systems Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Laser Systems Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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