Global Medical Laser Systems Market

Medical Laser Systems Market Size, Share, Growth Analysis, By Product type(Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, and Diode Laser Systems), By Application(Ophthalmology lasers, Surgical Lasers, Aesthetic & Dermatology Lasers, and Other), By End User(Hospital, Dermatology & Cosmetic Clinics, Opthalmic Clinics, and Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2866 | Region: Global | Published Date: April, 2024
Pages: 214 | Tables: 93 | Figures: 70

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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FAQs

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).

Many significant multinational competitors fighting for market share define the competitive landscape of the medical laser systems market. Companies with broad product portfolios and 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. '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.)'

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.

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.

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.

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Global Medical Laser Systems Market

Report ID: SQMIG35A2866

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