Sharp Surge Expected in Asia-Pacific Medical Lasers Market in Near Future

The global medical lasers market generated a revenue of $5.1 billion in 2016, and it is predicted to advance at a CAGR of 13.4% between 2017 and 2023. Furthermore, the market will reach a value of $12.1 billion by 2023, as per the estimates of the market research firm, P&S Intelligence. The factors driving the market expansion are the burgeoning requirement for medical lasers for treating various diseases, mushrooming demand for non-invasive treatments, and increasing number of aesthetic procedures.

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In addition, the advent of small hand-held diode lasers has made laser devices very advanced. Besides these factors, the growing incidence of skin and chronic diseases and the surging population of geriatric people in several countries are also driving the growth of the medical lasers market. As old age causes the loss of fibrous tissue and reduced glandular and vascular network in skin layers, geriatric people are highly vulnerable to pigmentary alteration, skin sagging, wrinkles, and dryness.

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Developing nations such as China and India are predicted to have a larger population of ageing people than the developed ones such as the U.S. in the coming years. As per the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged above 60 years in India, China, Brazil, and the U.S. will be 324 million, 437 million, 58 million, and 107 million, respectively, by 2050.

Depending on product, the medical lasers market is divided into dye laser systems, diode laser systems, gas laser systems, and solid-state laser systems categories. Amongst these, the diode laser systems category will exhibit the fastest growth in the market in the coming years. The solid-state laser systems category is further divided into neodymium: yttrium-aluminum-garnet laser (Nd:YAG) systems, erbium: yttrium-aluminum-garnet laser (Er:YAG) systems, holmium: yttrium- aluminum-garnet laser (Ho:YAG) systems, potassium titanyl phosphate laser systems, ruby laser systems, and alexandrite lase systems.

Hence, it can be said without any hesitation that the market will exhibit huge expansion in the upcoming years, primarily because of the rising requirement for cosmetic and skin treatment procedures, the growing incidence of skin diseases, and the surging geriatric population all over the world.

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This release was published on openPR.