“Rise in number of cosmetic procedures and increase in incidences of eye disorders play a major role in the growth of the medical laser market“.
According to a new report published by Allied Market Research, titled, ” Medical Laser Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026 ” The global medical laser market size was $6,947 million in 2018, and is projected to reach $16,230 million by 2026, growing at a CAGR of 10.8% from 2019 to 2026. The dermatology segment accounted around one-third of the total market share in 2018.
Medical laser is a device that uses a strong beam of light to cut, burn, or destroy tissue. The medical laser treatments are non-invasive procedures that provide faster healing. These procedures are used to treat tissues without scarring and discoloration of the skin or tissues.
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The medical laser market is expected to exhibit significant growth during the forecast period due to increase in number of cosmetic procedures and rise in number of patients using advanced laser-based treatments globally. In addition, various benefits offered by medical laser systems, such as decreased pain intensity and faster recovery and surge in the importance of aesthetics laser procedures are the major factors that boost the global medical laser market.
Based on product type, the solid-state laser systems segment is accounted for the largest share in 2018, and is anticipated to continue this trend during the forecast period. This is attributed to its wider applications in several photodynamic therapy and aesthetic treatments as well as it provides the quality output.
Based on end user, the cosmetic segment is accounted for the largest share in 2018. This is attributed to increase in adoption of lasers in the cosmetic procedures such as hair removal and skin resurfacing. In addition, growth in demand for non-invasive treatments and rise in number of aesthetic procedures being performed further propels the market growth.
Region wise, Asia-Pacific is expected to be the fasted growing market during the forecast period, owing to increase in geriatric population, rapid adoption of technologically advanced laser treatment options, high disposable incomes, and rise in awareness toward the adoption of medical lasers as a replacement of invasive surgery.
Comprehensive competitive analysis and profiles of major market players, such as, IRIDEX Corporation, Lumenis Ltd., Ellex Medical Lasers Ltd., CryoLife, Inc., Novartis AG, Koninklijke Philips N.V., Biolase Inc., Boston Scientific Corporation, Bausch & Lomb Holdings, Inc., and Syneron Medical Ltd
Key Findings of the Medical Laser Market:
Based on product type, the diode laser systems segment is expected to be the fasted growing segment during the forecast period.
- Based on application, dermatology segment contains the largest share in 2018, and is anticipated to continue this trend during the forecast period.
- Depending on end user, the surgical segment is expected to exhibit the highest CAGR with 11.6% during the forecast period.
- U.S. generated the highest revenue in the global medical laser market in 2018, accounting for more than two-fifth of the global market.
- Asia-Pacific is estimated to grow at a highest CAGR of 12.3% during the forecast period.
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Q1. What is the market value of Medical Laser Market report in forecast period?
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Q3. What is the market value of Medical Laser Market in 2020?
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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