Numerous Technologies in Ophthalmic and Medical Laser Systems See Extensive Application in Cosmetic Surgeries; Solid-state Lasers Gathering Traction in Range of Medical Therapies on back of Advancements in Photonics
Medical Laser Systems to Advance Hospital-based Healthcare Systems; Advancements in Diode Lasers And Solid-State Lasers to Pave Way for New Avenues in Medical Laser Systems Market
ALBANY, New York, June 3, 2020 /PRNewswire/ -- In healthcare systems, a bevy of applications of laser technology drive evolution of medical laser systems market. The applications notably include cancer therapy, cardiovascular treatment, dermatology, dentistry, and ophthalmology.
Expanding science behind photonics is fueling strides in the adoption of solid state lasers, and will enable numerous collaborations between medical and research institutes, concede analysts.
The medical laser systems market stood at ~US$ 2 bn in 2019. The medical sector is seeking to utilize the potential of new laser technologies in the diagnosis of COVID-19. Extensive research and development activities will help the market to garner CAGR of CAGR of ~12%, and reach valuation of ~US$ 8.5 Bn by 2030-end.
Key Findings of Medical Laser Systems Market Report
Of the various product types, solid-state lasers held the top share in 2020
Diode laser product segment to witness rapid growth rate, fueled by use in wide range of therapy and surgery applications
Of the various applications, cosmetic/dermatology held the major share in 2019; the demand for minimally invasive surgeries account for the segmental revenues
Among the various end users, hospitals held the top share in 2019; application in surgeries in hospital settings drive uptake
Explore 230 pages of top-notch research, incisive insights, and detailed country-level projections of Medical Laser Systems Market (Product Type: Gas Lasers, Solid-state Lasers, Fiber Lasers, Diode Lasers, Femtosecond Lasers, and Others; Application: Ophthalmology, Cosmetic/Dermatology, Dentistry, Cancer Therapy, Cardiovascular, and Others; and End User: Hospitals, Ambulatory Surgical Centers, and Specialized Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/report-toc/324
Medical Laser Systems Market: Key Driving Factors and Promising Avenues
Over the past few years, continuous strides have been made by laser technology, and the medical sector has been one of the applications that have remained untouched. Following trends and patients preferences underpin the generation of new revenue streams in the medical laser systems market:
The demand for minimally invasive surgeries has resulted in the commercialization of laser systems in medical sector. Some notable areas are ophthalmology, cosmetic/dermatology, and dentistry.
Dramatic rise in the incidence of cancer in rapidly aging populations has spurred the use of medical laser systems. Apart from this, medical laser system are used in general surgeries
Standard guidelines pertaining to production of medical laser systems are benefitting end-use applications
In various regional markets, medical laser systems at the hands of experienced dermatologists have been proven to be safe and effective cosmetic process. This aspect has motivated numerous key regional regulatory agencies to be more receptive to new approvals.
Rise in demand for dental surgeries is also a huge source of revenue streams for manufacturers in the medical laser systems market.
Of all, North America has been promising region in global medical laser systems market. The medical industry has been early adopters of technological advances in lasers, and this is evident from the substantial pace of adoption for cardiovascular diseases, cosmetic, cancer therapy, and orthopedic surgeries. The U.S. has witnessed a rapid rise in cosmetic surgeries, where medical laser systems have been key to better clinical outcomes. Such factors ensure that in coming years, the growth of the North America market will be promising.
Meanwhile, proliferating demand for laser-based cosmetic surgeries in parts of Asia Pacific, particularly Southeast Asia, has been key to promising revenues in the medical laser systems market.
The recent COVID-19 pandemic lockdowns has critically dampened the demand for medical laser systems. Both in hospital setting and other clinical settings, patients undergoing laser surgeries has dipped rapidly in recent months. On the other hand, the same novel coronavirus is proving to be a promising avenue for large revenue generation. The demand for COVID-19 diagnostics is attracting research and development initiatives in this direction, thus expanding the horizon of the medical laser systems market.
Global Medical Laser Systems Market: Segmentation
Medical Laser Systems Market, by Product Type
Medical Laser Systems Market, by Application
Medical Laser Systems Market, by End User
Ambulatory Surgical Centers
Medical Laser Systems Market, by Region
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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