The Future of Medical Laser Systems….. COVID-19 & Its Impact….


The global medical laser systems market is expected to reach USD 12.5 billion by 2022, according to a new report by Grand View Research, Inc. Rising demand for minimal and non-invasive procedures by patients is anticipated to be the most impact rendering driver of the market.
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
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.
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.
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https://www.grandviewresearch.com/industry-analysis/medical-laser-system-market/request/rs1
Further key findings from the report suggest:
·         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.
·         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.
·         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.
·         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.
·         Eminent players of this market include IRIDEX Corp., Lumenis Ltd., Syneron-Candela, Photomedex Inc., Spectranetics Corp., Biolase Inc., Bioform Medica Inc., biolitec, and Cutera.
Global medical laser systems market size was valued at USD 4.9 billion in 2014. Increasing demand for noninvasive cosmetic surgeries, growing awareness about the safety of these procedures, and technological advancements in the process are expected to drive growth over the forecast period.
Furthermore, rising incidences of eye related disorders, growing demand for aesthetic appeal, along with rising application in gynecology, is anticipated to propel the growth of this industry over the next seven years. However, the risks associated with these procedures such as infection, scarring, bleeding and change in skin color are expected to act as constraints, impeding the growth rate.
As per American Society for Aesthetic Plastic Surgery (ASAPS), the American population spends more than USD 13 billion on aesthetic treatments such as body contouring, acne prevention, dermal resurfacing and others. This is anticipated to further drive the demand for these procedures over the forecast period.
Key product segments of the medical laser systems market are a diode, solid state, gas and dye lasers. The diode segment held the largest share in 2014 and is expected to grow at a lucrative growth rate, owing to its varied application in aesthetic procedures and photodynamic treatment.
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Grand View Research has segmented the global medical laser systems market on the basis of products:
Medical Laser Systems Product Outlook (Revenue in USD Million, 2012 - 2022)
·         Diode Lasers
·         Solid State (Crystal) Lasers
o    Holmium Yttrium Aluminum Garnet (Ho:Yag) lasers
o    Erbium Yttrium Aluminum Garnet (Er:Yag) lasers
o    Neodynium Yttrium Aluminum Garnet (Nd:Yag) lasers
o    Potassium Titanyl Phosphate (KTP)
o    Alexandrite lasers
o    Ruby lasers
·         Gas Lasers
o    CO2
o    Argon
o    Krypton
o    Metal Vapor (Cu and Au)
o    Helium-Neon
o    Excimer
·         Dye Lasers
Medical Laser Systems Application Outlook (Revenue in USD Million, 2012 - 2022)
·         Dermatology
·         Ophthalmology
·         Gynecology
·         Urology
·         Dentistry
·         Cardiology
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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