Medical Laser Market Size to Reach US$ 16.4 Billion by 2026

LOS ANGELES, Jan. 21, 2020 /PRNewswire/ -- The global medical laser market size is poised to reach around US$ 16.4 billion by 2026.

Worldwide Medical Laser Market is growing at a CAGR of around 10.5% during the forecast period 2019 to 2026.

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North America captured the highest market share in the global medical laser market in 2018 and likely to show the same trend over the forecast period of 2019-2026. The introduction of new medical lasers, with procedure-specific applications, and innovative technology integration in these medical laser systems, are some of the major factors projected to drive the market growth during the forecast period. According to the American Society of Plastic Surgeons (ASPS), approximately 17.5 million surgical and minimally invasive cosmetic procedures performed in the United States in 2017, with a 2.1 percent increase over 2016. The increasing number of cosmetic procedures, combined with market players offering innovative systems are factors propelling the medical laser market sales in 2019. Such factors are expected to enhance the demand and sales of the medical lasers in the market during the forecast period. The Asia Pacific is also the fastest-growing market is the some of the leading competitors among the market industry. However, the high cost of medical laser systems is expected to influence the purchase of the overhauled system, especially in developing countries. This expected to hinder the market growth of the medical laser in the market during the forecast period.

The medical laser market is an amalgamated market with the top players accounting for a significant share in the market. A well-known type of product presence in the medical lasers market segment joint a strong product collection of medical lasers has been momentous in the governance of these players in the medical laser market report. One of the conspicuous players in the global medical laser industry is Lumenis, which involves in offering a wide range of products in the application segments such as laser system, consumables.

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The aesthetic laser systems by Lumen are used for hair removal, tattoo removal, scar removal and others. This industry witnessed a lunched of new skin rejuvenating technology, legend pro+, at the 17th Aesthetic & Anti-Aging Medicine World Congress conference in Monte-Carlo, Monaco from 4th – 6th April, 2019 and before that in January 2015, they launched ResurFXmedical laser system for in significant invasive than ablative skin reappearing treatments.

The inventions of new product by the industry will help to the strong market player in the medical laser systems market globally. Though the other market players were also expanding their collection of medical lasers importantly in the cosmetic field, besides focus on the expansion of geographic existence and strengthening the dispersal network and expected to gain the market shares in the forecast period.

On the basis of type, the market has been segmented into surgical laser, dental lasers, aesthetic lasers, and others. The surgical lasers are primarily accounted for the highest market share in the market in 2018 and further expected to continue its dominance over the forecast period. The increase in investment from the manufacturers in order to meet the demand from the newly aware consumer is further enhanced the revenue of the market in the global market in the coming years.

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Some of the key observations regarding medical laser market industry include:

• Lumenishas introduced its aesthetic laser systems in April, 2019. The new product is designed for enhancing the aesthetic appearance of the patients. The advance laser machines has novel body design with a skin treatment chamber, as a result, provide a competitive advantage in the medical laser market.
• Lumenis introduced ResurFX medical laser system for insignificant invasive than ablative skin reappearing treatments in January, 2018. The launch was intended to transform the anti-ageing workflow by updating laser treatment planning, purchasing, and delivery.
• North America Country is holding the highest share stake in medical laser system market due to the rising incidences of chronic diseases to cure the diseases by the laser treatment.
• A multicenter group of 41 hospitals led by researchers at Children's Hospital of Philadelphia (CHOP) has confirmed that an improved method for predicting retinopathy of prematurity (ROP), a leading cause of blindness in children, was able to reduce the number of babies having invasive diagnostic examinations by nearly a third, while raising disease detection up to 100 percent.
• Cancer patients in Southern Italy have higher concentration of toxic metals in their blood. Causing by illegal dumping and burning of waste in this region has caused immense environmental damage which seems to have severely affected the local population's health said by a team of researchers coordinated by Professor Antonio Giordano, M.D., Ph.D., and the Italian director of the Sbarro Health Research Organization (SHRO) at Temple University in Philadelphia.

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