Dublin, June 17, 2022 (GLOBE NEWSWIRE) -- The "Global Medical Laser Systems Market: Analysis By Product Type, By Application, By End User, By Region, Size and Trends with Impact of COVID-19 and Forecast up to 2026" report has been added to ResearchAndMarkets.com's offering.
The global medical laser systems market was valued at US$2.95 billion in 2021, and is projected to be worth US$5.79 billion in 2026. Laser therapy is a medical procedure that involves cutting, burning, or dissolving tissue with a strong laser beam. A medical laser is a non-invasive, high-intensity light source that can be used to treat tissue and promote rapid healing without scarring or discoloration.
The medical laser systems market is expected to rise due to rising demand for aesthetic laser operations in developing countries. The American Society for Aesthetic Plastic Surgery (ASAPS) estimates that the American population spends more than US$13 billion on aesthetic treatments such as acne prevention, body contouring, dermal resurfacing, and other procedures. The medical laser systems market is determined to grow at a CAGR of 14.49% over the analyzed period of 2022-2026.
Growth Drivers: The market has been growing over the past few years, due to factors such as rising prevalence of cardiovascular diseases, rapid urbanization, increasing old age population, increase in healthcare expenditure, growing prevalence of eye diseases and escalating cosmetic treatments. Consumer awareness of personal aesthetics, as well as desire to alter or retain them, has risen considerably in recent years. Laser systems are used for a variety of medical and cosmetic procedures, including hair removal, fat reduction, dermal contraction and pigmentation mark reduction, dermal resurfacing, and age-related vascular dysfunction. In dermatology, lasers are becoming more commonly employed, leading in improved results and faster retrieval times.
Challenges: However, some challenges are impeding the growth of the market such as stringent safety regulations and high costs involved. Medical laser systems are subject to government regulations such as the FDA in the US, CE marking in Europe, and other requirements in various regions and nations throughout the world. Commercialization of these products using various technologies is a difficult process because some products fall under FDA class IV restrictions (testing are subject to the most stringent examination). Manufacturers must adhere to all safety requirements impacting the approval and production procedures of medical laser systems.
Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as use of AI in healthcare, new product launches, growing demand for minimally invasive and outpatient treatments, and technological advancements in laser systems. There are numerous small and large companies operating in the medical laser systems market. To enhance their market share, industry players are employing methods such as new product releases and regional expansion. Medical laser treatments are now safer and more effective, owing to continual innovation and new product launches, which is leading to growing acceptance of medical laser systems. Leading companies are spending in research and development to develop innovative products and increase their revenue share.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic has emerged as the world's most pressing concern. Because the pandemic has put a strain on healthcare systems all across the world, prioritizing scarce resources was critical to reducing hospital admissions. As a result, most hospitals and surgical centers considered cancelling or delaying elective surgeries, throughout the healthcare field, including the dermatology, ophthalmology, gynecology, dentistry, cardiology and urology. According to the Society of Thoracic Surgeons Adult Cardiac Surgery Database and Johns Hopkins COVID-19 database, there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases in the US.
Healthcare systems restored to normal after the vaccination schedule was established and the rate of transmission was reduced, and laser treatments began at a better pace. As a result, COVID-19 had a short-term detrimental impact on the medical laser systems market.
The global medical laser systems market is fragmented. Market players have implemented sustainable growth techniques in the market. Companies like Iridex Corporation, Lumenis Be Ltd., Candela Medical, BIOLASE, Inc., Alcon Inc., and Iridex Corporation have implemented numerous strategies that have aided the company's growth and, as a result, have brought about significant market changes.
The key players of the global medical laser systems market are:
Boston Scientific Corporation
Nova Eye Medical Ltd. (AlphaRET)
Bausch + Lomb Corporation
Mergers, new product launches, acquisitions, and collaborations are among the strategic activities that the corporations are pursuing in order to increase their market positions. For example, Candela Medical announced the launsh of the Frax Pro system in July 2021, BIOLASE, Inc. in May 2021, launched Waterlase Pediatric Dental Academy (WPDA) for Waterlase paediatric dentists and Boston Scientific Corporation announced the acquisition of Lumenis Ltd. in March 2021.
Key Topics Covered:
1. Executive Summary
2.1 Medical Laser Systems: An Overview
2.1.1 Procedures Requiring Medical Laser Systems
2.1.2 Types of Medical Lasers
2.2 Medical Laser Systems Segmentation: An Overview
2.2.1 Medical Laser Systems Segmentation
2.2.2 Medical Laser Systems Segmentation by Application
3. Global Market Analysis
3.1 Global Medical Laser Systems Market: An Analysis
3.1.1 Global Medical Laser Systems Market by Value
3.1.2 Global Medical Laser Systems Market by Product Type (Solid State Lasers, Diode Lasers, Gas Lasers and Dye Lasers)
3.1.3 Global Medical Laser Systems Market by Application (Dermatology, Ophthalmology, Dentistry, Urology, Gynecology, Cardiology, and Others)
3.1.4 Global Medical Laser Systems Market by End User (Specialty Clinics, Hospitals, Ambulatory Surgery Centers and Others)
3.1.5 Global Medical Laser Systems Market by Region (North America, Europe, Asia Pacific and ROW)
3.2 Global Medical Laser Systems Market: Product Type Analysis
3.2.1 Global Solid State Medical Laser Systems Market by Value
3.2.2 Global Solid State Medical Laser Systems Market Value by Product Type
3.2.3 Global Diode Medical Laser Systems Market by Value
3.2.4 Global Gas Medical Laser Systems Market by Value
3.2.5 Global Gas Medical Laser Systems Market Value by Product Type
3.2.6 Global Dye Medical Laser Systems Market by Value
3.3 Global Medical Laser Systems Market: Application Analysis
3.3.1 Global Dermatology Medical Laser Systems Market by Value
3.3.2 Global Ophthalmology Medical Laser Systems Market by Value
3.3.3 Global Dentistry Medical Laser Systems Market by Value
3.3.4 Global Urology Medical Laser Systems Market by Value
3.3.5 Global Gynecology Medical Laser Systems Market by Value
3.3.6 Global Cardiology Medical Laser Systems Market by Value
3.3.7 Global Other Applications Medical Laser Systems Market by Value
3.4 Global Medical Laser Systems Market: End User Analysis
3.4.1 Global Specialty Clinics Medical Laser Systems Market by Value
3.4.2 Global Hospitals Medical Laser Systems Market by Value
3.4.3 Global Ambulatory Surgery Centers Medical Laser Systems Market by Value
3.4.4 Global Other End Users Medical Laser Systems Market by Value
4. Regional Market Analysis
5. Impact of COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on Healthcare
5.1.2 Impact of COVID-19 on Medical Laser Systems Market
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rising Prevalence of Cardiovascular Diseases
6.1.2 Rapid Urbanization
6.1.3 Increasing Old Age Population
6.1.4 Increase in Healthcare Expenditure
6.1.5 Increasing Cosmetic Treatments
6.1.6 Increased Prevalence of Eye Diseases
6.2.1 Stringent Safety Regulations
6.2.2 High Costs Involved
6.3 Market Trends
6.3.1 Use of AI in Healthcare
6.3.2 New Product Launches
6.3.3 Growing Demand for Minimally Invasive and Outpatient Treatments
6.3.4 Technological Advancements in Laser Systems
7. Competitive Landscape
7.1 Global Medical Laser Systems Market Players: Products & Services Offered
7.2 Global Medical Laser Systems Market Players: New Product Launches
8. Company Profiles
8.1 Biolase, Inc.
8.1.1 Business Overview
8.1.2 Operating Products
8.1.3 Business Strategy
8.2 Boston Scientific Corporation
8.2.1 Business Overview
8.2.2 Operating Segment
8.2.3 Business Strategy
8.3 Alcon, Inc.
8.3.1 Business Overview
8.3.2 Operating Segment
8.3.3 Business Strategy
8.4 Stryker Corporation
8.4.1 Business Overview
8.4.2 Operating Segment
8.4.3 Business Strategy
8.5 Iridex Corporation
8.5.1 Business Overview
8.5.2 Operating Region
8.5.3 Business Strategy
8.6 Artivion, Inc.
8.6.1 Business Overview
8.6.2 Operating Segment
8.6.3 Business Strategy
8.7 Nova Eye Medical Ltd. (AlphaRET)
8.7.1 Business Overview
8.7.2 Business Strategy
8.8 Cynosure Inc.
8.8.1 Business Overview
8.8.2 Business Strategy
8.9 Bausch + Lomb Corporation
8.9.1 Business Overview
8.9.2 Business Strategy
8.10 Candela Medical
8.10.1 Business Overview
8.10.2 Business Strategy
For more information about this report visit https://www.researchandmarkets.com/r/orl5pk
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