Medical Laser Systems Market worth over $10bn by 2025
Published Date: November 4, 2019 Authors: Sumant Ugalmugle, Rupali Swain
Medical Laser Systems Market size is set to exceed USD 10 billion by 2025, according to a new research report by Global Market Insights, Inc.
Increasing government support for adoption of medical laser in numerous applications worldwide will boost the demand for medical lasers. Photodynamic therapy (PDT) that involves a photosensitive drug in combination with a laser system, has been approved by regulatory agencies of various governments for the treatment of basal cell carcinoma and keratosis. Furthermore, government schemes to support the development of innovative devices used in medical laser applications will impact positively to the market revenue.
Growing medical tourism in developing economies will boost the medical laser systems industry expansion
Rising patient preferences towards medical tourism will serve to be a primary factor driving the market growth. Countries such as Thailand and India among others offer affordable medical treatments with guaranteed insurance plans for secured patient management. Numerous such advantages thus encourage international patients to prefer treatments in developing economies and save on medical costs. Moreover, expanding opportunities for ophthalmology and dental tourism in Asia Pacific will further stimulate the market progression.
Availability of solid state, gas, dye and diode laser systems for use in various medical applications
Solid state laser systems segment accounted for more than USD 1 billion in 2018. Solid state laser uses a gain medium rather than gas or liquid dye media to ensure effective patient outcome. These lasers have high peak power pulses and are effectively used for harmonic generation, especially at low output powers. The solid-state lasers are extensively used in medical applications including eye surgery and optical transmission systems.
Browse key industry insights spread across 145 pages with 198 market data tables & 8 figures & charts from the report, “Medical Laser Systems 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, Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
World Health organization (WHO) estimates periodontal disease to be the 11th most prevalent disease globally
Dentistry segment held around 9% market share in 2018 due to rising incidence of oral health problems because of unhealthy eating habits. Laser treatment is considered as the leading-edge treatment in treatment of various diseases including periodontal disease. According to WHO, periodontal disease is estimated to be the 11th most prevalent disease affecting larger population worldwide in 2018. Therefore, rising prevalence of periodontal disease and wide applications of medical laser systems in dentistry will prove beneficial for the segment expansion.
Surge in number of specialty clinics in developed economies
Specialty clinics segment is estimated to witness growth of over 14.5% during the forecast period. Presence of technologically advanced systems to cater larger population along with focus on patient comfort will enhance the demand for laser treatments in specialty clinics. These clinics offer well-developed medical facilities and effective treatment in the presence of a professional healthcare team for improved patient outcomes.
U.S. offers substantial growth opportunities for industry players
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The U.S. medical laser systems market size is expected to surpass USD 3.5 billion by 2025 owing to rising adoption of medical lasers in the country. Increasing health concerns along with awareness regarding laser treatments among the population will upsurge the market growth. Moreover, growing demand for cosmetic dentistry in the U.S. and presence of well-developed healthcare infrastructure will foster the industry revenue in the region.
Innovative product portfolio offered by industry players
Few of the notable industry players include Syneron-Candela, Lumenis, Koninklijke Philips, Alcon Laboratories, Ra Medical Systems, Cynosure, Dentsply Sirona, Biolase and Bausch & Lomb. These business players undertake various organic and inorganic growth strategies to enhance their financial stability and sustain market competition.
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