Global Market for Medical Laser Systems is Forecast to Reach US$10 Billion by 2020

Increasing Adoption of Laser-Based Treatments Drives the Market for Medical Laser Systems, According to New Report by Global Industry Analysts, Inc.

           

GIA announces the release of a comprehensive global report on Medical Laser Systems markets. Global market for Medical Laser Systems is forecast to reach US$10 billion by 2020, driven by aging population, shift towards minimally invasive procedures, and growing awareness over the safety of laser-based procedures. 

Medical laser systems refer to devices that emit monochromatic light beam in a highly concentrated form for excision of tissues. Lasers are being extensively used for diagnosis and treatment of a number of diseases that hitherto were difficult to treat or were known to lead to significant complications using traditional procedures. Most common applications of medical laser systems include ophthalmology, oncology, cosmetic surgery, cardiology, dentistry, gynecology, dermatology, gastroenterology, diagnostics and urology. Major factors driving growth in the market include aging population, increasing focus on aesthetics, and growing awareness over the benefits of laser procedures. Rising disposable incomes particularly in developing markets and growing adoption of laser-based treatments are also factors driving growth in the market.

Surgical lasers represents the largest product market, supported by developments in diode lasers and fiber lasers, and well-established applications in cardiology. Growing prevalence of cardiovascular diseases is therefore expected to provide sturdy opportunities for growth in the coming years. Growing focus on aesthetics, rise in obesity, and preference for non-surgical cosmetic procedures are fuelling demand for aesthetic lasers. Advancements in laser technology are resulting in lesser pain and higher surgical accuracy thereby encouraging volume growth in laser procedures. Dedicated lasers with varying active media have been developed to meet specific needs of each procedure. These advancements enable physicians to provide more favorable and noticeable results to patients, with the added benefit of quicker post surgery recovery. Non-invasive methods of body contouring and fat reduction are also gaining popularity, supported by advancements such as Transdermal Focused Ultrasound, Monopolar RF, Low level laser, High Intensity Focused Ultrasound (HIFU) and Cryolipolysis.

As stated by the new market research report on Medical Laser Systems, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 11.2% over the analysis period. Growing prevalence of chronic diseases, unmet medical needs, improving healthcare infrastructure, access to affordable care, and growing awareness over the availability of safe, effective, alternate treatment options represent key growth drivers in the region.

Major players covered in the report include AngioDynamics Inc., Bausch & Lomb Incorporated, BIOLASE Inc., Biolitec AG, Carl Zeiss Meditec AG, Cutera Inc., Cynosure Inc., Dornier MedTech GmbH, Lumenis Ltd., Nidek Co. Ltd., Spectranetics Corporation, Syneron Medical Ltd., and Topcon Corporation, among others.

The research report titled “Medical Laser Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in terms of value for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America) and Rest of World. Product segments analyzed include Surgical Lasers, Aesthetic Lasers, Ophthalmic Lasers, Diagnostic Lasers, Therapeutic Lasers and Accessories & Services.

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