The Global Medical Lasers Market is expected to be around $13 billion by 2025, due to rising incidence of eye related disorders coupled with rapidly aging population and growing preference for advanced laser based treatment procedures. Emerging economies are rapidly adopting laser based treatments owing to the increased disposable income of the population. About 500,000 to 700,000 healthcare professionals in the U.S. are using medical lasers for their procedures. Laser hair removal is one of the top five cosmetic procedures performed in a non-surgical manner. Also, rising gynecological applications and increased awareness about aesthetic appeal is set to drive the market growth over the forecast period. According to a survey conducted by the American Society for Aesthetic Plastic Surgery (ASAPS), Americans spent more than $15 billion on surgical and non-surgical aesthetic procedures in 2016.
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Medical Lasers Market – Competitive Analysis:
Some of the key players in this market are Bausch & Lomb Holdings, Spectranetics Corporation, IRIDEX Corporation, Cardiogenesis Corporation, Biolase Inc., Syneron-Candela, Lumenis Ltd, Alcon Laboratories, Cutera, American Medical Systems, PhotoMedex Inc., Biolitec AG, AngioDynamics Corp, Novadaq Technologies, CryoLife, Coherent and Bioform Medical Inc.
Medical Lasers Market – Product Outlook and Trend Analysis:
The diode laser market held the largest share in 2016. This can be attributed to its applications in various aesthetic procedures and photodynamic therapies. Moreover, this growth will be consistent over the forecast period due to rising adoption of diode lasers worldwide. The solid state laser market is expected to grow at a fastest rate due to its varied applications in periodontology and skin treatment. These lasers have wide applications in procedures such as tattoo removal, vein removal, and dermatological procedures. According to American Society for Aesthetic Plastic Surgery (ASAPS), the laser tattoo removal procedures in the U.S. saw an increase of 13% in 2016.
Medical Lasers Market Segmentation –
Medical Lasers Market – By Product:
Solid State Lasers: Erbium Yttrium Aluminum Garnet (Er:Yag) Lasers, Holmium Yttrium Aluminum Garnet (Ho:Yag) Lasers, Potassium Titanyl Phosphate (KTP), Neodymium Yttrium Aluminum Garnet (Nd:Yag) Lasers, Alexandrite Lasers, Ruby Lasers
Gas Lasers: Co2 Lasers, Krypton Lasers, Ruby Lasers, Metal Vapor (Au & Cu) Lasers, Argon Lasers, Excimer Lasers, Helium-Neon Lasers
Medical Lasers Market – Market Opportunities:
The major opportunities in the medical lasers market lie in the scope for technological advancements to enhance the applications of lasers in different medical procedures. Rising demand for aesthetic appeal will steadily increase the adoption of medical lasers in cosmetic procedures globally. Additionally, applications in ophthalmology will keep evolving with technological innovations facilitating steady market growth over the forecast period.
Medical Lasers Market – By Application:
Medical Lasers Market – Application Outlook and Trend Analysis:
The dermatology segment dominated the global market due to an increasing demand for aesthetic procedures such as skin tightening, contouring, and skin rejuvenation. The gynecology segment is anticipated to show lucrative growth over the forecast period due to broadening of medical lasers applications in cervical erosion and infertility along with intra-abdominal gynecological surgeries. Applications of laser systems in cardiovascular diseases are on the rise due to the growing prevalence of heart related ailments and cost effective laser based treatments facilitated by technological advancements.The ophthalmology segment is expected to exhibit consistent growth in coming years because of the rapid substitution of non-laser instruments in refractive and related surgical procedures.
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Medical Lasers Market – By Region:
North America – U.S, Canada, Mexico
Europe – Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific – Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World – Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
Medical Lasers Market – Regional Outlook and Trend Analysis:
North America held the major share of the global medical lasers market in 2016, due to rising number of cases of obesity and diabetes. High disposable income and rising demand for aesthetic procedures has fuelled the growth of North American market. Untapped opportunities in the Asia-Pacific segment will register fastest growth in the forecast period. Therefore, it offers lucrative opportunities for key players to expand in emerging markets.
Medical Lasers Market – List of Tables:
Table 1.Global Medical Lasers Market, By Product ($Million), 2016-2025
Table 2.Diode Lasers Market, By Region ($Million), 2016-2025
Table 3.Solid State Lasers Market, By Region ($Million), 2016-2025
Table 4.Holmium Yttrium Aluminum Garnet (Ho:Yag) Lasers Market, By Region ($Million), 2016-2025
Table 5.Erbium Yttrium Aluminum Garnet (Er:Yag) LasersMarket, By Region ($Million), 2016-2025
Table 6.Neodynium Yttrium Aluminum Garnet (Nd:Yag) LasersMarket, By Region ($Million), 2016-2025
Table 7.Potassium Titanyl Phosphate (KTP)Market, By Region ($Million), 2016-2025
Table 8.Alexandrite LasersMarket, By Region ($Million), 2016-2025
Table 9.Ruby Lasers Market, By Region ($Million), 2016-2025
Medical Lasers Market – List of Figures:
Figure 1.Global Medical Lasers Market Share, By Product, 2016 & 2025
Figure 2.Medical Lasers Market, By Region, 2016 ($Million)
Figure 3.Lumenix Ltd.: Net Revenues, 2014-2016 ($Million)
Figure 4.Lumenix Ltd.: Net Revenue Share, By Segment, 2016
Figure 5.Lumenix Ltd.: Net Revenue Share, By Geography, 2016
Figure 6.Photomedex Inc.: Net Revenues, 2014-2016 ($Million)
Figure 7.Photomedex Inc.: Net Revenue Share, By Segment, 2016
Figure 8.Photomedex Inc.: Net Revenue Share, By Geography, 2016
Key Findings of the Research Study:
- Diode lasers segment held a major share of the overall market in 2016, due to their wide adoption in cosmetic procedures.
- Solid state lasers market is poised to grow at the highest CAGR during the forecast period due to their wide applications in skin treatment procedures.
- Cardiovascular disease market will grow with a highest CAGR because of the rising cases of cardiovascular diseases and rapidly rising geriatric population worldwide.
- North America held a major share of the global medical lasers market as prevalence of cardiovascular diseases and geriatric population is on the rise.
- Asia-Pacific is the most promising market with immense growth opportunities as a result of highly unmet medical needs and increasing disposable income of people.
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