December 13, 2019
According to the research report titled ‘Medical Laser Market Size By Product (Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, Diode Laser Systems) By Application (Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiology, Gastroenterology), By End-use (Hospitals, Specialty Clinics, Ambulatory Surgery Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global medical laser market is estimated to reach USD 10 billion by the year 2025.
Availability of minimally invasive surgical procedures coupled with advancements in medical laser technology are major factors driving the growth of medical laser market. Rising aesthetics awareness among consumers, favorable federal reforms, and reimbursement policies for various laser procedures are also aiding to the expansion of the market.
Moreover, rising adoption of laser devices for medical purposes in tandem with growing inclination towards cosmetic surgeries are augmenting the demand for medical laser systems and procedures across the globe. The market is expected to see further growth due to rising medical tourism and advancements in healthcare segments.
In terms of product type, gas laser systems segment was worth USD 900 million in 2018 and is expected to grow substantially during the forecast period. The segmental growth is attributed to its rising adoption in eye, skin, and other surgeries since these devices are less intrusive and highly precise for surgeons and for patients.
Speaking of application spectrum, the research report stated that medical laser market from urology segment is expected to grow with a CAGR of 16% during the period of 2019-2025. This is due to advancements in technology for BPH (benign prostatic hyperplasia) and lithotripsy treatments. Moreover, growing occurrences of kidney stones, bladder tumors, and BPH symptoms are propelling the market growth.
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Based on end-use scope, ambulatory surgical centers (ASC) segment accounted for 15% revenue share of medical laser market in 2018, as these setting offer minimally surgeries with lesser recovery time and shorter hospital stay.
Considering geographical landscape, medical laser market in Asia Pacific is expected to accrue USD 2 billion by the year 2025. Rising medical tourism, coupled with development of high quality and cost effective treatments, especially in countries such as Malaysia, South Korea and India are enticing international patients for various surgical treatments.
The prominent companies operating in the medical laser market are Koninklijke Philips, Bausch & Lomb, Alcon Laboratories, Biolase, Dentsply Sirona, Fotona, American Medical Systems, Cynosure, Sisram, and Lumenis.
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