Medical Lasers Systems Market Size Worth $5,834.02 Million, Globally, by 2028 at 13.5% CAGR - Exclusive Report by The Insight Partners

The Medical Lasers Systems Market Size is driven by increasing prevalence of eye diseases and the rising elderly population. The solid-state lasers segment would account for the largest market share during 2021-2028. The Co2 laser segment dominated the global market and accounted for the largest revenue of 150.15 Mn in 2021.

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The Insight Partners

Jan 11, 2022, 08:00 ET

NEW YORK, Jan. 11, 2022 /PRNewswire/ -- According to the new market research report "Medical Lasers Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type {Diode Lasers, Solid-State Lasers [Holmium Yttrium Aluminum Garnet (Ho: YAG) Lasers, Erbium Yttrium Aluminum Garnet (Er: YAG) Lasers, Neodynium Yttrium Aluminum Garnet (Nd: YAG) Lasers, Potassium Titanyl Phosphate (KTP), Alexandrite Lasers, and Ruby Lasers], Gas Lasers [Co2 Laser, Argon Laser, Krypton Laser, Metal Vapor (Au and Cu) Laser, Helium-Neon Laser, and Excimer Laser], and Dye Lasers}, Application (Dermatology, Ophthalmology, Gynecology, Dentistry, Cardiology, Urology, and Others), and End-User (Hospitals, Specialty Clinics, Ambulatory Surgery Centers, and Others), and Geography", published by The Insight Partners, the global medical lasers systems market is projected to reach US$ 5,834.02 million by 2028 from US$ 2,398.60 million in 2021; it is expected to grow at a CAGR of 13.5% from 2021 to 2028.

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Report Coverage	Details
Market Size Value in	US$ 2,398.60 million in 2021
Market Size Value by	US$ 5,834.02 million by 2028
Growth rate	CAGR of 13.5% from 2021 to 2028
Forecast Period	2021-2028
Base Year	2021
No. of Pages	231
No. Tables	138
No. of Charts & Figures	90
Historical data available	Yes
Segments covered	Product Type, Application, End-User, and Geography
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Medical Laser Systems Market: Competition Landscape and Key Developments

Lumenis Be Ltd.; Ellex Medical Laser (Noval Eye Medical); Koninklijke Philips N.V., BIOLASE, Inc.; Boston Scientific Corporation; Bausch Health Companies Inc.; Alcon Inc.; Iridex Corporation; Candela Medical; and CryoLife, Inc. are among the key companies operating in the medical lasers systems market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities.

In January 2021, Candela Medical announced the launch of Frax Pro system. The new product delivers highly targeted 1550 nm and 1940 nm wavelengths for dual-depth skin resurfacing applications.

In September 2018, Iridex Corporation announced the launch of TruFocus LIO. The newly launched product is a light combination and reflection viewing system used with IRIDEX retina laser systems. The device can be used to evaluate and treat patients of all ages, such as infants, in an office, operating room, and ambulatory surgical center setting.

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The increasing prevalence of eye disorders is one of the most key factors driving the growth of the market. Corneal diseases are the second-leading cause of blindness globally, after cataracts. According to the report released by the American Academy of Ophthalmology, cataracts affect more than 24.4 million Americans aged 40 and older. Also, diabetic retinopathy affects nearly 7.7 million Americans aged 40 and older. To avoid this, laser vision correction through medical lasers systems is the most common surgical procedure. Additionally, advances in laser ablation profiles have resulted in a better quality of vision, including better night vision. Thus, the rising prevalence of eye disorders globally raises the demand for medical lasers.

A significant rise in the elderly population is another factor that drives the overall growth of the medical lasers systems market. With age, ophthalmic diseases can lead to significant health problems. Among the geriatric population, age-related macular degeneration results in the most common ophthalmic diseases, such as loss of central vision, glaucoma, retinal detachment, cataracts, and diabetic retinopathy. For instance, as per the American Institute of Ophthalmology report, almost 24.4 million people under the age of 40 undergo cataract surgery, and nearly half of all Americans undergo cataract surgery by the age of 75. This has resulted in the potential adoption of new technology, such as femtosecond lasers, in cataract surgery involving a large upfront investment and promises to improve patient outcomes.

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Dermatology Lasers Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (High-Flux Dialyzer and Low-Flux Dialyzer), End User (In-Center Dialysis, Home Dialysis and Others), and Geography

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