Global Medical Lasers Market Growing at A CAGR of 13.7% From 2019-2026

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The global medical lasers market was valued at USD 1,934.4 million in 2018 and is expected to reach USD 5,288.7 million in 2026, growing at a CAGR of 13.7% during the forecast period.

Medical lasers are medical devices that use light sources to treat or remove unwanted tissues. It is small and precise. The term “laser” stands for light amplification by stimulated emission of radiation. Moreover, it is used in medical diagnosis, treatments, or therapies, such as laser photodynamic therapy, photorejuvenation, and laser surgery. The growth of the medical lasers market is primarily driven by the increase in the incidence of eye disorder and an increase in demand for aesthetics surgeries.

Moreover, technological advancements are expected to create opportunities for manufacturers in the global market over the forecast period. However, the stringent safety regulations and the high rate of failure are expected to hamper the growth of the global medical lasers market in the coming years. The solid state laser systems segment expected to dominate the market throughout the forecast period Based on product, the global medical lasers market has been segmented into solid state laser systems, gas laser systems, dye laser systems, and diode laser systems.

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The solid state laser systems segment accounted for approximately 42% of the share in the global medical lasers market in 2018. While diode laser systems accounted highest CAGR of around 15% in the global medical lasers market during the forecast period.

Based on the end-use, the cosmetic segment is expected to dominate during the forecast period Based on end-use industry, the market has been segmented into surgical, cosmetic, and dental. The cosmetic segment accounts of the largest share in the market and held for more than 50% of the total market in 2018 owing to increase in demand for aesthetics. While dental segment accounted for the highest CAGR of around 16% in the global medical lasers market.

Based on the application, the ophthalmology segment is expected to dominant the market during the forecast period Based on application, the market has been segmented into ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others. The ophthalmology application segment accounts of the largest share in the global medical lasers market in 2018.

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While increase in cardiovascular diseases and increase demand for prevalence of heart related diseases and the rapid technological advancement of cost effective laser-based techniques are expected to increase the demand for medical lasers for cardiovascular applications. North America to dominate the medical lasers market throughout the forecast period North America accounted for nearly 47% share of the global medical lasers market in 2018 and is expected to dominate the market throughout the forecast period owing to high rate of chronic diseases incidents such as obesity and diabetes among local millennial.
Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period. The increase in advancement across developing countries such as China and India and highly populous areas are further create the demand for medical lasers in the market during the forecast.

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Company Profiles and Competitive Intelligence:

The major players operating in the global medical lasers market are
·        Alcon Laboratories, Inc.,
·        AngioDynamics Corp.,
·        American Medical Systems, Inc.,
·        Biolase Inc,
·        Bausch & Lomb Holdings,
·        Cardiogenesis Corporation Inc,
·        Lumenis Ltd.,
·        Spectranetics Corporation,
·        IRIDEX Corp.,
·        Novadaq Technologies, Inc.,
·        Photomedex, Inc.,
·        Syneron-Candela
·        Among others.

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