Global Medical Laser Market - 2022-2029

Global Medical Laser Market - 2022-2029
Market Overview

The Medical Laser Market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

A powerful light beam is used in laser therapy to burn, cut, or kill the tissue. The acronym LASER stands for light amplification by stimulated emission of radiation. There are numerous medicinal uses for lasers. The laser beam's small size and pinpoint accuracy enable medical professionals to treat tissue without causing damage to the surrounding area safely. Varicose veins, corneal eye surgery, tumor removal, and other conditions are frequently treated with laser technology.

Market Dynamics

The evolution and advancement of lasers in dentistry are expected to drive market growth.

Since the use of Light Amplification by Stimulated Emission of Radiation (LASER) has grown in popularity and information accessibility, patient expectations for painless and non-invasive procedures have increased. Currently, lasers have opened up a potentially lucrative market in the fields of dentistry and medicine to treat patients and their wellbeing. Lasers were introduced into dentistry to enable professionals to get around traditional techniques' limitations. Lasers have recently gained a foothold in contemporary dentistry, bringing comfort, ease, efficiency, and specificity to patients and practitioners. For instance, the most popular lasers in dentistry include erbium (Er: YAG, Er, Cr: YSGG), Nd: YAG, diode, and CO2. Practitioners state that erbium lasers are safe, more efficient, and convenient than conventional dental procedures.

Moreover, Researchers in the Netherlands are developing laser technology to provide practically painless injections without needles, which they believe would reduce fear and decrease the barrier to vaccinations. A laser is used by the Bubble Gun to drive small droplets through the skin's outer layer. Because nerve endings in the skin are not touched, the procedure is faster than a mosquito bite and shall not produce pain. Thus, from the above statements, the market is expected to drive in the forecast period.

Restraint:

The high equipment cost, side effects associated with laser surgeries, and government regulatory policies are some factors the market is expected to hamper in the forecast period.

Industry Analysis

The medical laser market provides in-depth analysis of the market based on various industry factors such as supply chain analysis, reimbursement scenario, pricing analysis etc.

COVID-19 Impact Analysis

The COVID-19 pandemic has moderately impacted healthcare systems and the market. Routine medical services have remained suspended as COVID-19 patients have received top priority for medical resources. To treat patients with numerous covid-19 nations have improved their healthcare resources, including hospital beds, nurses, key employees, and medical equipment. Lasers are now included in the list of elective procedures rather than being included in the necessary procedure list as a result. Specialty clinics and hospitals with specialized laser treatment are among the healthcare establishments that have been shut down. Particularly in the U.S. and Europe, this has significantly impacted the number of patient visits to surgical, dental, and aesthetic surgeries.

Additionally, the pandemic interrupts the supply chain and process. Many companies will vary to other geographic regions to ensure that products remain available and protect their supply chain. Thus, from the above statements, the market got affected, and it is expected to gain traction quickly with the resumption of economic activities.

Segment Analysis

Solid State Laser Systems segment is expected to hold the largest market share in medical laser market

The solid-state laser systems segment is expected to dominate in 2021. Solid-state lasers are extremely effective, have a simpler construction, and are more reasonably priced. These lasers are widely used in a variety of medical applications, including dentistry, ophthalmology, dermatology, and cardiology, to conduct laser radiation investigations. These lasers are useful for treating melasma, removing scars, and making skin grow back. These reasons have encouraged healthcare companies to use these lasers for various procedures.

Moreover, these lasers can even be used to remove hairs permanently. Several organizations are working with local and private groups to promote using Nd: Yag solid-state lasers for various medical purposes. For instance, Lumenis Ltd. and Harrods Wellness Clinic announced their collaboration to beautify the facility's aesthetic medical center. Thus, from the above statements, the market segment is expected to hold the largest market share in the forecast period.

Geographical Analysis

North America region holds the largest market share in the global medical laser market

In 2021, North America accounted for the highest revenue share. The increasing number of cosmetic surgeries, rise in geriatric population and rise in the risk of developing ophthalmic disorders, mainly cataracts, and rising awareness among people regarding aesthetic procedures are some of the continuous developments in laser-assisted devices to offer advanced treatments in healthcare facilities with reduced risk of post-procedural complications are some of the factors the market is expected to boost in the forecast period. For instance, Cosmetic surgery is very common. Every year, providers do more than 15 million cosmetic surgery procedures in the United States. More than 13 million of those are minimally invasive procedures. Moreover, Doctors in Canadian hospitals will employ the DEKA surgical CO2 laser system and accessories from Clarion Medical Technologies to complement the system for gynecological and ENT procedures. El.EnS.p.A. and the distribution of this system were partners. In addition, In January 2022, EdgePro, a piece of laser-assisted irrigation equipment, was released on the market for use in cleaning and sanitizing root canal treatments. Therefore, it has increased the adoption of the medical laser system in the region. Thus, from the above statements, the North American region is expected to hold the largest market share in the forecast period.

Competitive Landscape

Major key players in the medical laser market are Lumenis Be Ltd, Alcon Laboratories Inc., Syneron-Candela, Boston Scientific Corporation, Koninklijke Philips N.V., Bausch & Lomb, Dentsply Sirona, Fotona, Mehra Eyetech Pvt. Ltd., Cutera, Inc.

Koninklijke Philips N.V.:

Overview:

Koninklijke Philips N.V. is a Dutch multinational conglomerate corporation. Philips was formerly one of the largest electronics companies globally, currently focused on health technology, with other divisions being divested. Philips is organized into three main divisions: Personal Health (formerly Philips Consumer Electronics and Philips Domestic Appliances and Personal Care), Connected Care, and Diagnosis Treatment (formerly Philips Medical Systems). It currently employs around 80,000 people across 100 countries.

Product Portfolio:

Nexcimer: Philips Laser System —Nexcimer— photoablates a wide spectrum of morphologies. Philips laser catheters are indicated in many vessel types and are the only laser system available for lead removal. Powered by a common 100-240V electrical outlet, the system warms up in less than 30 seconds for an easy and fast set-up.

The global medical laser market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.