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LI_172549
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Pages: 155
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Jun 2017 | 4013 Views
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Author(s) :
Nikita Chavan
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Tables: 60
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Global Medical Lasers Market was valued at $5,116 million in 2016, and is projected to reach $12,586 million by 2023, registering at a CAGR of 13.6% from 2017 to 2023. Medical lasers are medical devices used for the treatment of various diseases and tissue removal. The increase in incidence in various diseases, such as cardiovascular, urological, skin problems, and eye-related diseases, has resulted in the rise in adoption of medical lasers as they provide non-invasive treatment. Furthermore, increased importance to aesthetics has led to adoption of various medical lasers in cosmetic surgeries. The report analyzes the medical lasers market based on product, application, end use, and region.
Global Medical Lasers Market: Segmentation
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Segment Review
The cosmetic segment is expected to account for the major share in the market, owing to increased importance to aesthetics. It is an emerging trend in the medical industry, which is expected to further propel the use of medical lasers for treatment and quality appearance.
Snapshot of LAMEA Medical Lasers Market
There has been an increased focus of the key vendors in the medical lasers market on emerging markets, namely, Asia-Pacific and LAMEA. This is expected to boost the growth of the medical lasers market. Brazil is experiencing high adoption of medical lasers for oral care due to various dental complications in the Brazilian population. As per the data obtained from, the Brazilian Oral Health Survey (SBBrasil 2010) Project, there was a prevalence of around 48.2% non-treated dental caries. Such high prevalence of dental complications is expected to boost the adoption of medical lasers for treatment purposes, since dentistry is fastest growing application of medical lasers.
Saudi Arabia Medical Lasers Market, 2016-2023 ($Million)
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High Adoption of Medical Lasers for Cosmetic Surgeries
Globally, there is an increased demand for cosmetic surgery procedures, which include surgical and non-surgical procedures that improve the appearance by reshaping and enhancing the body structure. For instance, as per a report published by American Society of Plastic Surgeons in 2016, around 1.8 million cosmetic surgical procedures and 15.5 million cosmetic minimally invasive procedures were performed. Similarly, in 2015, around 1.1 million laser hair removal procedures were performed globally. This high adoption of medical lasers in the area of cosmetic surgery is expected to propel the growth of medical lasers market.
The key players profiled in the report include Photomedex, Inc., Lumenis Ltd., Ellex, Medical Lasers Ltd., Spectranetics Corporation, Novartis AG, Cardiogenesis Corporation, Biolase Inc., Boston Scientific Corporation, Bausch & Lomb Holdings, Inc., and Syneron-Candela. The other players operating in the industry include Quantel laser, Nidek CO., LTD., Topcon Corporation, Deka M.E.L.A. S.r.l., SharpLight Technologies, Sciton, Inc., and Alma Lasers.
Key Benefits
The global medical lasers market is segmented based on product type, application, end use, and geography.
The global medical lasers market is expected to witness significant growth in the near future, owing to the high prevalence of various diseases across all geographies. North America is expected to account for the major share of the market throughout the forecast period, owing to the high prevalence of cardiology, urology, eye-related, and other diseases. Asia-Pacific and LAMEA are expected to offer lucrative opportunities to market players in the near future. India and China are expected to be the market of interest for the major medical lasers manufacturers, owing to high prevalence of eye-related diseases, such as cataract, glaucoma, other diseases, and increase in geriatric population. In addition, the market experiences a positive paradigm shift in the recent years as major players have distributed their products in the emerging markets, including China, India, and Brazil.
The growth of the global medical lasers market is attributed to increase in incidence of various eye disorders due to the growth in elderly population. Moreover, rise in number of patients using advanced laser-based treatments globally and increase in importance of aesthetics are other factors that contribute to the growth of global medical laser systems market. However, stringent safety regulations and high rate of failure hamper the market growth.
In the present scenario, the cosmetic segment dominates the global medical lasers market, owing to growth in prevalence of cosmetic procedures globally. For instance, as per a report published by American Society of Plastic Surgeons in 2016, around 1.8 million cosmetic surgical procedures and 15.5 million cosmetic minimally invasive procedures were performed.
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