A research study titled, “Medical Lasers Market by Product and Application – Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the medical lasers market is projected to be around $13 billion by 2025.
Medical Lasers Market – Report Overview:
Medical lasers have significant applications in eye surgeries and cosmetic procedures worldwide. As per the UK-based Laser Eye Surgery Hub, more than 30 million eye related surgeries have been carried out across the world so far using lasers.
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During such surgeries, lasers are used to vaporize targeted parts of the cornea to reshape it in order to treat visual impairments. More than 120,000 people opt for laser eye surgery in UK every year.
The use of lasers in eye surgeries helps in quick vision correction with less painful procedures, which is contributing to the market growth. As per American Society for Aesthetic Plastic surgery (ASAPS) Survey, Americans spent more than $15 billion on aesthetic procedures in 2016, amounting to a rise of 11% from the previous year.
Medical Lasers Market – Industry Trends Analysis:
Increasing demand for non-invasive procedures by the patients will further drive the demand for medical lasers. Lasers assist surgeons in performing complex tasks with reduced blood loss further minimizing the chances of wound infection.
Solid state lasers are expected to grow at the highest CAGR during the forecast period. This high growth rate can be attributed to the compact designs and the low device cost along with their applications in skin treatments such as tattoo removal will further boost the market growth.
Medical Lasers Market – Key Growth Analysis:
Cardiovascular diseases market is expected to grow at the high growth rate over the forecast period due to the presence of technologically advanced laser-based cardiovascular treatments such as laser angioplasty and laser thrombolytic.
Rise in prevalence of cardiovascular diseases coupled with aging population is contributing to the market growth. Ophthalmology market will also register a promising growth owing to the rising applications of medical lasers in refractive surgeries.
Medical Lasers Market – Regional Outlook:
Rise in geriatric population leading to cardiovascular disorders is a key factor driving the market growth. Asia-Pacific holds huge growth opportunity, due to presence of a large patient pool of cardiovascular disorders, rapidly aging population, and prevalence of unmet medical needs coupled with increase in disposable income of the people.
Medical Lasers Market – Top Major Market Players:
Bausch & Lomb Holdings, Spectranetics Corporation, IRIDEX Corporation, Cardiogenesis Corporation, Inc., Biolase Inc., Syneron-Candela, Lumenis Ltd, Alcon Laboratories, Inc., Cutera, American Medical Systems, and PhotoMedex Inc.
Key Findings of the Research Study of Medical Lasers Market :
Diode lasers segment held a major share of the overall market in 2016, due to their wide adoption in cosmetic procedures.
Solid state lasers market is poised to grow at the highest CAGR during the forecast period due to their wide applications in skin treatment procedures.
Cardiovascular disease market will grow with a highest CAGR because of the rising cases of cardiovascular diseases and rapidly rising geriatric population worldwide.
North America held a major share of the global medical lasers market as prevalence of cardiovascular diseases and geriatric population is on the rise.
Asia-Pacific is the most promising market with immense growth opportunities as a result of highly unmet medical needs and increasing disposable income of people.
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Table of Contents:
4.Medical Lasers Market, By Product
4.2.Medical Lasers Market Assessment and Forecast, By Product, 2016-2025
4.4.Solid State Lasers
4.5.Holmium Yttrium Aluminum Garnet (Ho:Yag) Lasers
4.6.Erbium Yttrium Aluminum Garnet (Er:Yag) Lasers
4.7.Neodynium Yttrium Aluminum Garnet (Nd:Yag) Lasers
4.8.Potassium Titanyl Phosphate (KTP)
4.15.Metal Vapor (Au & Cu) Lasers
5.Medical Lasers Market, By Application
5.2.Medical Lasers Market Assessment and Forecast, By Application, 2016-2025
To be continued…
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