Medical Laser Systems Market: Introduction
According to the report, the
global medical
laser systems market was valued at ~US$ 2 Bn in 2019 and is projected to
expand at a higher CAGR during the forecast period. A medical laser system uses
laser technology in medical treatments, diagnosis, and other medical therapies.
Medical laser systems use light sources for the treatment of various
indications. The laser utilizes narrow wavelengths, thereby emitting coherent
light, which helps in performing efficient minimal invasive surgical
procedures. Different types of medical laser systems available in the market
are solid-state lasers, gas lasers, fiber lasers, diode lasers, femtosecond
lasers, hydrogen lasers, nitrogen lasers, metal vapor lasers, and others.
Nd:YAG is a solid-state laser widely preferred in cataract, cosmetic, and tumor
removal surgeries. Excimer laser is a gas laser widely acceptable for atopic
dermatitis, alopecia areata, and scientific research.
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The global medical laser systems
market is driven by rise in prevalence of chronic diseases, high unmet needs in
terms of disease epidemiology and rise in demand for cosmetic surgeries, surge
in demand for innovative medical lasers, increase in geriatric population,
rapid adoption of medical laser devices in developing countries, and shift in
government focus toward providing better healthcare facilities.
North America dominated the
global medical laser systems market in 2019 and the trend is anticipated to
continue during the forecast period. The region’s dominance can be ascribed to
the presence of key players, technological advancement, rise in burden of
patient population with chronic surgeries, increase in demand for minimal invasive
procedures, access to advanced surgical procedures, and surge in awareness
about innovative medical laser systems. However, high cost of medical lasers in
surgical procedures such as cosmetics or cancer therapy is likely to restrain
the global medical laser systems market during the forecast period.
Increase in Ophthalmic and Cosmetic Surgeries to Propel Global Market
Increase in cosmetic and
dermatology minimal invasive procedures boosts demand for medical laser systems
across the globe. Efficiency of innovative diode lasers and solid-state lasers
in offering non-scarring, bloodless operation drives demand for medical laser
surgeries. In 2018, 15.9 million cosmetic minimal invasive procedures were
performed in the U.S., along with 5.8 million reconstructive procedures. Around
4.5 million tumor removal medical procedures were performed in 2017 and 313,000
breast augmentation procedures were performed in the U.S. in 2018.
Increase in incidence of
ophthalmic disorders leading to associated surgeries, such as LASIK, is likely
to drive the ophthalmology segment during forecast period. According to
cataract statistics in the U.K., 330,000 cataract operations are performed
every year in the country. Moreover, 30% of people aged 65 years and above are
expected to have cataract in one or both eyes. Increase in incidence of
cataract is anticipated to augment the global medical laser systems market.
LASIK is a widely preferred surgery in the treatment of severe visual
impairments. In the U.S., around 718,000 surgeries are projected to be
performed by 2020. In Europe, around 757,000 laser eye surgeries are likely to
be performed by 2020. The factors mentioned above are expected to augment the
global medical laser systems market.
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Rise in Prevalence of Chronic Diseases to Drive Global Market
Rise in prevalence of chronic
diseases leads to increase in the number of surgical procedures. This, in turn,
is anticipated to propel the demand for medical laser systems across the globe.
In 2016, India had 54.5 million patients with cardiovascular disease. Moreover,
the estimated prevalence of cardiovascular diseases increased to 15% in China
in 2016, affecting 6,037 per 100,000 people. CVD accounts for over 40% deaths
in China. Use of low-level laser therapy in treating inflammation is another
factor propelling the market, especially in developing countries. According to
the NCBI research in 2018, multiple sclerosis is the most common and prevailing
disease in Asia Pacific, affecting around five to 20 people per 100,000 in
South Asia and Japan.
According to the Centers for
Disease Control and Prevention (CDC), by 2020, astigmatism is likely to affect
one in every 10 people in the U.S. Farsightedness affects around 8.4% of the
U.S. population aged over 40, which is around 14.2 million people.
Nearsightedness affects 23.9% of the U.S. population aged above 40, which is
around 34 million people.
According to the CDC, 17.2% of
the population of the U.S. suffers from cataract, which is around 20.5 million
people aged over 40 years. By 2028, cataract is expected to affect 30 million
people in the U.S.
Medical Laser Systems Market: Prominent Regions
In terms of region, the global
medical laser systems market has been segmented into North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa. North America
dominated the global medical laser systems market in 2019. This can be
attributed to increase in ophthalmic, cosmetic, orthopedic, dermatology, and
gynecology surgeries and is also considered to be effective in biosensing and
diagnostics. Rise in prevalence of cataract, vision problem, psoriasis, cancer,
cardiovascular, and other chronic diseases drives the demand for medical laser
technologies for treatment. Moreover, adoption of emerging and innovative
medical laser devices is another major factor propelling the medical laser
systems market in North America.
The medical laser systems market
in Asia Pacific is likely to expand at the fastest CAGR from 2020 to 2030. Asia
Pacific is a hub for cosmetic surgeries, with around 1 million surgeries
performed in South Korea. Moreover, rise in burden of diseases leading to
associated minimal invasive surgeries is projected to augment the medical laser
systems market in the region. Presence of key players offering technically
advanced lasers in the region is anticipated to fuel the growth of the market
in Asia Pacific.
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Mergers & Acquisitions and Launch of Innovative Products by Key
Players to Drive Global Market
The global medical laser systems
market is consolidated in terms of number of players. The market is dominated
by key players with strong geographic presence and broad medical laser
portfolio. Key players operating in the global medical laser systems market
include LASOS Lasertechnik GmbH, Fujikura Ltd., Modu-Laser, Zeiss, BIOLASE,
Inc., Alcon, IRIDEX Corporation, Candela Corporation, Cynosure, Lumenis, and
Bausch & Lomb.
Mergers & acquisitions and
launch of innovative medical lasers are the major strategies adopted by key
players operating in the medical laser systems market. For instance, in
February 2020, Zeiss introduced ZEISS Crossbeam Laser, which provides
cross-section workflow, thereby integrating the gallium ion FIB, femtosecond
laser, and field emission SEM in one device. Moreover, in October 2018, Carl
Zeiss Meditec acquired IanTECH, Inc. to strengthen its cataract surgery product
portfolio. This acquisition enabled the company to utilize IanTECH, Inc.’s
technology with Carl Zeiss consumables and equipment to manage cataract.
In October 2018, Alcon designed
and introduced WaveLight Refractive Suite to offer surgeons and patients with
smooth LASIK surgical procedure.
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