The medical laser systems market is estimated to experience growth opportunities in the upcoming years. This market growth has been on the back of increasing rate of investment in R & D activities. During the past 60 years, there has been a noticeable development in laser technologies. This technological advancement along with an increasing emphasis to discover innovative laser concepts have predicted an imperative role to revolutionize the modern-day healthcare industry. Thus, based on these factors, the market is likely to enjoy noticeable growth opportunities in the years to come.
Medical laser systems have been used at an increasing rate across different specialized clinics and hospitals around the world. These systems are commonly applied in different medical fields such as dentistry, ophthalmology, cardiovascular treatment, cancer therapy, and dermatology. Based on this wide application range, the medical laser systems market has been predicted to experience noticeable growth opportunities.
There has been a significant increase in the innovation and technologies of laser concepts. This factor has led to the onset of various types of lasers in the market frame. Flying microlaser, full silicon laser, holmium-doped laser, and others are some of these types of lasers. Technological advancements in photonics along with increasing R & D activities have played a significant role in the adoption of medical laser systems during the past few years.
As per the research report by Transparency Market Research, the medical laser systems market is estimated to expand at a CAGR of ~12% and reach the valuation of US$ 8.5 Bn. during the forecast period from 2019 to 2030.
Progress in Photonic Leads to Increasing Demand for Solid-State Lasers
During the past few years, the healthcare sector and research institutes are increasingly concentrating to explore the potential benefits of novel laser technologies in medical applications. The progress achieved by photonics in these years has been playing a key role to develop novel lasers. Among various types of lasers, fiber lasers are gaining considerable popularity in the market. It is a variant of solid-state laser. This laser type has been adopted at an increased rate during the past decade because of the optimum physical characteristics of the waveguide structure of the fiber.
Fiber lasers have been used around the broad spectrum of industrial and research applications. In addition to this, the medical industry is adopting fiber lasers at a rapid speed. This leads to the increasing adoption of these lasers as promising tools to modernize the medical industry. The rising demand for non-invasive and painless medical treatments has been predicted to fuel demand opportunities in the medical laser systems market during the forecast period.
The recent advancements in the cancer diagnosis system with the use of advanced laser technologies serve as another significant factor to propel growth impetus in the market in the upcoming years.
Some of the key players operating in the medical laser systems market include Bausch & Lomb, Lumenis, Cynosure, Candela Corporation, ARIDEX Corporation, Alcon, BIOLASE, Inc., Zeiss, and Fujikura Ltd.
Growing Adoption of Medical Laser Systems Estimated to Fasten COVID-19 Diagnostics
The sudden outbreak of COVID-19 is predicted to serve as the new window to propel growth opportunities for the key players serving in the medical laser systems market. Although, there has been a slight decline for a few types of non-essential laser treatments medical laser systems for the coronavirus diagnosis are likely to create growth opportunities.
At present time, the COVID-19 diagnostics require a swab test that needs several hours in order to provide results. However, there are innumerable researchers that are exploring potential applications of the lasers for the rapid diagnosis of the COVID-19. Furthermore, there is a group of scientists from various U.S. universities that are collaborating with one other for the development of the diagnostic tools in order to identify the viruses with the use of laser beams. Owing to these factors, the medical laser systems market has been projected to experience noticeable growth opportunities in the upcoming years.
The global medical laser systems market is divided into:
- Global Medical Laser Systems Market, by Product Type
- Gas Lasers
- CO2 Lasers
- Argon Lasers
- Excimer Lasers
- Soild-state Lasers
- Dye Laser
- Fiber Laser
- Diode Laser
- Femtosecond Lasers
- Gas Lasers
- Global Medical Laser Systems Market, by Application
- Cancer Therapy
- Global Medical Laser Systems Market, by End User
- Ambulatory Surgical Centers
- Specialized Clinics
- Global Medical Laser Systems Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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