The medical lasers are the devices used for treatment and removing of tissue by precisely focusing over the laser beam. They are also used over different applications, that include the ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others. The rise in demand for non-invasive procedure over such surgical procedure driving the growth of medical laser market. In addition, the medical lasers can further be used for the precise and the surgical procedures owing to specific wavelength, that are focused over a narrow beam and creating a very high-intensity light.
According to study, “Medical Laser Market by Product Type (Solid-State Laser Systems, Gas Laser Systems, Dye Lasers Systems, and Diode Laser Systems), Application (Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiovascular, and Others), and End User (Surgical, Cosmetic, and Dental): Global Opportunity Analysis and Industry Forecast, 2019-2026”.Some the key players operating in the global medical laser market are IRIDEX Corporation, Ellex Medical Lasers Ltd., Lumenis Ltd., CryoLife, Inc., Bausch & Lomb Holdings, Inc., Koninklijke Philips N.V., Biolase Inc., Novartis AG, Boston Scientific Corporation, and Syneron Medical Ltd.
Based on product type, medical laser market is segmented into gas laser systems, solid-state laser systems, diode laser systems and dye lasers systems. Gas laser system includes Co2 laser systems, metal vapor (copper and gold) laser systems, krypton laser systems, Helium – Neon (He-Ne) laser systems, argon laser systems and excimer laser systems. Solid state laser system includes erbium yttrium aluminum garnet laser systems, holmium yttrium aluminum garnet laser systems, potassium titanyl phosphate laser systems, neodymium yttrium aluminum garnet laser systems, ruby laser systems and alexandrite laser systems. Based on application, market is segmented into ophthalmology, gynecology, dentistry, dermatology, urology, cardiology, and others. The ophthalmology segment is further sub-segmented into refractive error surgery, glaucoma surgery, cataract surgery, and others. The dermatology segment is further sub-segmented into skin resurfacing, tattoo removal, hair removal, pigment treatment, and others. The urology segment is further sub-segmented into lithotripsy and tissue ablation. Additionally, the cardiology segment is further sub-segmented into coronary artery disease, hypertrophic cardio my apathy, ventricular & supra ventricular arrhythmias, congenital heart disease, and cardiovascular. The cardiology is expected to be the fastest growing segment during the forecast period, due to increase in occurrence of heart diseases and rise in development of advanced medical laser treatment techniques. In addition, based on end-user, market is segmented into cosmetic, surgical and others.
The medical laser market is driven by increase in incidence of various chronic diseases globally, followed by high adoption of medical lasers for cosmetic surgeries, increase in importance of aesthetics laser procedures, surge in number of cosmetic & non-invasive surgeries and growth in technological advancements. However, lack of acceptance of new technology and high cost of the medical lasers may impact the market. Moreover, increase in applications of lasers across clinical areas is a key opportunity for market.
Based on geography, the North-American is a leading region in global medical laser market owing to upsurge in number of cosmetic surgeries, rise in the risk of developing ophthalmic disorders and increase in geriatric population in the region. Whereas, the Asian-Pacific and European regions are anticipated to witness higher growth rate due to rise in patient awareness toward the adoption of medical lasers as a replacement of invasive surgery and high disposable incomes of population over the forecast period.
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Ankur Gupta, Head Marketing & Communications