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Medical Lasers Systems Market Hits $ 5,834.02 million by 2028 | Top Companies like BIOLASE, Candela Medical, Artivion, Ellex, Lumenis Be Ltd.

07-14-2022 04:28 PM CET | Health & Medicine

Press release from: The Insight Partners

According to The Insight Partners latest study, titled "Medical Lasers Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type, Application, and End User," the market size is expected to grow from US$ 2,398.60 million in 2021 to US$ 5,834.02 million by 2028. It is estimated to grow at a CAGR of 13.5% from 2021 to 2028.

The increasing incidence of eye disorders is substantially driving the medical lasers systems market. North America is likely to continue its dominance in the medical lasers systems market during the forecast period. The US holds the largest market share in North America and is expected to continue this trend during the forecast period. According to the statistics released by the Centers for Disease Control and Prevention (CDC), around 610,000 deaths are recorded due to heart diseases in the US, which is 1 in every 4 deaths.

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The solid-state lasers segment is anticipated to account for the largest market share from 2021 to 2028. Solid-state lasers have gained attention in the global medical lasers systems market due to their significant improvement in the performance of such specialized lasers. This is evaluated as output power levels, wall-plug efficiency, reliability, and range of available wavelengths from the pump diodes and diode arrays. Also, modular and multiwavelength solid-state lasers provide therapeutic radiation proving effective for laser-lithotripsy, laser-angioplasty, neurosurgery, general surgery, and dentistry.

By end user, the medical lasers systems market is segmented into hospitals, specialty clinics, ambulatory surgery centers, and others. The specialty clinics segment held a considerable market share in 2021 and is likely to continue its dominance during the forecast period. Specialty clinics are centers of excellence assuring to deliver high standards of clinical outcomes. Specialty clinics focus on any one organ, a body system, or a particular disease. Therefore, these clinics are staffed with para-medical and nursing personnel with specialized skills that have been perfected over time. The role of specialty clinics in detecting, diagnosing, and managing eye disease, cardiac diseases, and others have gained huge attention. These factors have raised the demand for medical lasers systems.

Lumenis Be Ltd.; Ellex; Koninklijke Philips N.V.; BIOLASE, Inc.; Boston Scientific Corporation; Bausch Health Companies Inc.; Alcon Inc.; Iridex Corporation; Candela Medical; and Artivion, Inc. are the leading companies operating in the global medical lasers systems market.

According to research conducted by the Commonwealth Fund report, the hardest-hit medical specialties, including dental, Ophthalmology, ENT, and dermatology, experienced a strong decline beyond 50% during the first week of both April and May. With COVID-19 lockdowns, all dermatology practices and med-spas stopped such medical lasers system treatments, which led to them experiencing a strong decline in terms of procedures performed in hospitals. For instance, in March 2020, the UK introduced a country-wide lockdown that came into effect on March 23. Since then, clinics offering laser and intense pulsed light services have remained closed for the business.

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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