According to a report,“Medical Laser Systems Market Analysis, By Product (Diode, Solid State, Gas and Dye Laser), By Application (Ophthalmology, Dermatology, Gynecology, Urology, Dentistry, Cardiology, Gastroenterology) And Segment Forecasts To 2022” published by Grand View Research, Inc. The global medical laser systems market is expected to reach USD 12.5 billion by 2022.Rising demand for minimal and non-invasive procedures by patients is anticipated to be the most impact rendering driver of the market.
Increasing application of these systems for diagnostic purposes, rising geriatric population base, propelling demand for cosmetic surgeries and technological advances in pre-existing laser systems are vital factors driving the demand of this market.
Key Takeaways from the report:
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Solid state lasers are expected to grow at the fastest rate of over 10% during the forecast period due to technological advances and increasing application in diagnostic field. Neodynium Yttrium Aluminum Garnet (Nd:Yag) and Potassium titanyl phosphate (KTP) are expected to drive growth over the forecast period.
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On the basis of application segments, urology, cardiology and gynecology are expected to be the top contributors of the medical laser systems market. Statistics provided by the WHO estimate that over 17.5 million people annually are reported with chronic cases of cardiovascular disorder that require surgical follow-up.
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North America held over 35.0% of the market in 2014 due to rising disposable income, rising geriatric population base coupled with increasing cases of age-related disorders and conditions.
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Asia Pacific is anticipated to witness lucrative growth and capture over 25.0% share of the global market by 2022. Rising disposal income, increasing awareness and volume of cosmetic surgeries, increasing incidences of diabetic retinopathy, rheumatoid arthritis and dental caries are key drivers for the medical laser systems market growth within the region.
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Eminent players of this market include IRIDEX Corp., Lumenis Ltd., Syneron-Candela, Photomedex Inc., Spectranetics Corp., Biolase Inc., Bioform Medica Inc., biolitec, and Cutera.
North America medical laser systems market, by product, 2012-2022, (USD Million)
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Medical laser systems are being prominently applied in various branches of biology such as urology, cardiology, ophthalmology etc for the purpose of diagnosis, disease management and prevention. Augmenting cases of these disorders is expected to positively impact market growth over the forecast period.
Solid state lasers are anticipated to grow at the fastest rate during the forecast period due to higher reliability, smaller compact designs, lowered cost of purchase and prolonged life span of the systems. Diode lasers are expected to hold a significant market share owing to the introduction of next generation Optically Pumped Semiconductor Lasers (OPSLs) that provide unmatched electrical efficiency.
Grand View Research has segmented the global medical laser systems market on the basis of products and region:
Medical Laser Systems Product Outlook (Revenue in USD Million, 2012 – 2022)
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Diode Lasers
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Solid State (Crystal) Lasers
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Holmium Yttrium Aluminum Garnet (Ho:Yag) lasers
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Erbium Yttrium Aluminum Garnet (Er:Yag) lasers
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Neodynium Yttrium Aluminum Garnet (Nd:Yag) lasers
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Potassium Titanyl Phosphate (KTP)
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Alexandrite lasers
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Ruby lasers
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Gas Lasers
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CO2
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Argon
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Krypton
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Metal Vapor (Cu and Au)
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Helium-Neon
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Excimer
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Dye Lasers
Medical Laser Systems Application Outlook (Revenue in USD Million, 2012 – 2022)
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Dermatology
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Ophthalmology
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Gynecology
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Urology
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Dentistry
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Cardiology
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Others
Medical Laser Systems Regional Outlook (Revenue in USD Million, 2012 – 2022)
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North America
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Europe
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Asia Pacific
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RoW
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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