Global Medical Laser Market Outlook and Forecast to 2027 - Featuring Candela Medical, Koninklijke Philips, Boston Scientific and Hologic Among Others
Dublin, July 07, 2022 (GLOBE NEWSWIRE) -- The "Medical Laser Market - Global Outlook and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
As a technology that offers a high degree of flexibility, productivity, sustainability, and precision, laser technology has widespread acceptance and success across several industries, including manufacturing, automotive, and, most importantly, medical & healthcare industries.
From laser eye surgery to the non-invasive treatment of many ailments, laser technology has enabled healthcare facilities, physicians, surgeons, and nurses to provide better care more swiftly and efficiently.
A rise in demand for minimally invasive and non-invasive procedures in cosmetics and dermatology boosts demand for medical lasers across the globe. Commercial entry of innovative diode lasers and solid-state lasers have enabled surgeons to perform scar-less and bloodless surgeries, fueling the demand for medical laser surgeries.
Increasing acceptance of LASIK surgery for severe visual impairment contributes to the growth of the medical laser market. Around 720,000 Americans in the U.S. underwent LASIK surgeries in 2020. Approximately 760,000 LASIK surgeries were performed in Europe.
The following factors are likely to contribute to the growth of the global medical lasers market:
Laser Advancements for Pain-Free Aesthetic Treatments
Growing Trend of Laser-Based Medical Imaging
Increase in Target Population and Number of Eye Procedures
Growing Demand for Medical Tourism in Developing Countries
Growing Demand for Pain-Free Laser Treatments
Patients opt out of surgical procedures in favor of newer laser-based technologies with lower risk and better results. These treatments are more precise and take a shorter time than surgical treatments. The healing time is faster, and the patient experiences less pain, scarring, and swelling post-surgery. In plastic surgery and cosmetic treatment, medical lasers play a significant role in procedures that are non-invasive and void of post-treatment recovery time and can be applied to wrinkle removal, fat reduction, and muscle toning.
Advancements of Lasers in the Medical Industry
The introduction of the latest medical technology and the rising popularity of minimally invasive surgeries are now pushing medical science to an upper level. With the growing and aging population worldwide, machine learning and artificial intelligence are offering new and better approaches. A.I. incorporation into cosmetic laser treatment can help eliminate the potential of human error, enhance precision for better results, reduce potential risks and side effects, simplify treatment for doctors, and creating more cost-effective approach for patients and doctors.
Other potential uses for A.I. also include laser removal of tattoos and skin cancer treatment. Lasers are also showing promising results in medical imaging. Medical lasers are being used in several applications, including advanced technologies that meet current challenges in clinical diagnosis and can address a wide range of health care issues. Photoacoustic imaging is one method that includes examining living materials by using laser light and ultrasonic sound waves.
Furthermore, in recent years, novel biomedical laser applications based on new laser types or novel energy delivery systems are also gaining significance.
Factors Affecting the Growth of the Medical Laser Market
Hazards associated with lasers are major factors hindering their adoption in the medical field. Visible light lasers can damage the retina by causing blind spots, and on the optic nerve can lead to vision impairment. Diode Laser, Neodymium yttrium aluminum garnet (Nd: YAG) laser, and holmium yttrium aluminum garnet (Ho: YAG) laser-focused on the retina can cause damage to the tissues in the eyes.
Furthermore, the high cost of laser-based treatments such as cosmetic/aesthetic procedures and eye treatments are shifting people towards alternate procedures. In addition to this, stringent guidelines by the regulatory authorities are posing significant challenges to medical laser manufacturers.
Impact of COVID-19 on Medical Laser Market
With the advent of COVID-19, most surgical procedures were postponed while only emergency cases were addressed. Due to this, there was a significant decline in the aesthetic procedures performed using medical lasers. As lockdown restrictions eased for non-essential services, many surgeons began seeing an influx of patients seeking aesthetic plastic surgery. According to annual Aesthetic Plastic Surgery Statistics for 2020 published by the Aesthetic Society, Americans spent over $9 billion on aesthetic plastic surgeries, even amidst the COVID-19 pandemic.
The global medical laser market is highly competitive and dynamic, characterized by many international, regional, and local vendors providing various lasers. Bausch & Lomb, Candela Medical, Koninklijke Philips, Boston Scientific, Cutera, Fotona, Hologic, El.En. S.P.A, IRIDEX, and Shanghai Fosun Pharmaceutical are the major vendors with significant shares in the market.
Significant acquisitions have made these companies stronger by expanding their consumer base, minimizing marketplace competition, and creating higher value than each company offers individually.
For instance, Boston Scientific acquired Lumenis to integrate its medical lasers portfolio and expand its global footprint to advance growth across Europe and Asia. Furthermore, vendors are also active by-product launches, such as Candela Medical, which announced the launch of the Frax Pro system in 2021. Several market players invest in developing medical laser fibers for better productivity, like OmniGuide Holdings, which recently launched a new OTO-U CO2 laser system fiber.
Key Questions Answered:
1. What is the Estimated Value of The Global Medical Laser Market By 2027?
2. What is the Growth Rate of The Global Medical Laser Market?
3. What are the Latest Global Medical Laser Market Trends?
4. Who are the Key Players in The Global Medical Laser Market?
5. Which Region Will Have the Highest Growth in The Global Medical Laser Market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
8 Market Opportunities & Trends
8.1 Advances in Laser Technology for Pain-Free Aesthetic Treatments
8.2 Increased Product Launches
8.3 Growth in Laser-Based Medical Imaging
8.4 Machine Learning & Ai Augmenting the Growth of Medical Lasers
9 Market Growth Enablers
9.1 High Demand for Non-Invasive Cosmetic Surgeries
9.2 Increased Target Population and Number of Eye Procedures
9.3 Higher Acquisitions and Product Approvals
9.4 Growth in Demand for Medical Tourism in Developing Countries
10 Market Restraints
10.1 Major Risks Associated With Medical Laser Surgeries
10.2 High Cost of Laser-Based Treatments
10.3 Regulatory Hurdles on Medical Laser Systems
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Impact of Covid-19 on Medical Lasers Market
11.4 Five Forces Analysis
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Diode Laser Devices
12.4 Gas Laser Devices
12.5 Solid-State Laser Devices
12.6 Dye Laser Devices
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Diagnosis, Therapy & Surgery
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.4 Aesthetics Clinics
16.5 Physicians' Offices
17.1 Market Snapshot & Growth Engine
17.2 Geographic Overview
18 North America
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Key Countries
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Key Countries
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Key Countries
21. Latin America
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Key Countries
22. Middle East & Africa
22.1 Market Overview
22.2 Market Size & Forecast
22.3 Key Countries
23. Competitive Landscape
23.1 Competition Overview
23.2 Market Share Analysis
24. Key Company Profiles
24.1 Bausch & Lomb
24.2 Candela Medical
24.3 Koninklijke Philips N.V
24.4 Boston Scientific
24.8 El.En. S.P.A
24.10 Shanghai Fosun Pharmaceutical
25. Other Prominent Vendors
25.1 Beijing Adss Development
25.2 Advanced Medtech
25.7 Aspen Laser
25.8 Astanza Laser
25.9 Beijing Sanhe Beauty S & T Co.
25.12 Biotec Italia
25.13 Bison Medical
25.14 Bluecore Company
25.17 Dentsply Sirona
25.18 Dominion Aesthetic Technologies
25.22 Ipg Photonics
25.24 Leaflife Technology
25.25 Linline Medical Systems
25.27 Lynton Lasers
25.28 Medart Aps
25.31 Ra Medical Systems
25.32 Reimers & Janssen
25.34 Venus Concept
25.36 Wuhan Dimed Laser Technology
25.37 Wuhan Zjzk Technology
25.38 Zeiss International
25.39 Zimmer Medizinsysteme
26. Report Summary
27. Quantitative Summary
For more information about this report visit https://www.researchandmarkets.com/r/fnvp3q
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