Rising prevalence of eye-related disorders, rising number of patients using advanced laser-based treatments, and the increasing importance of aesthetics
NEW YORK, NY, UNITED STATES, November 15, 2021 /EINPresswire.com/ — According to the current analysis of Reports and Data, the global Medical Laser Systems market was valued at USD 1808.2 Million in 2019 and is expected to reach USD 4925.1 Million by the year 2027, at a CAGR of 12.2%. The primary factor driving the growth of this industry is technological advancements. The latest advancements in technology have led to an increase in the number of its applications in the medical industry. These advancements have benefits such as small incisions, decrease in the intensity of pain and fast recovery after any surgical procedure. These devices are becoming more advanced with the employment of hand-held diodes. Moreover, the increase in the application of technology for various cosmetic treatments, including hair removal, skin rejuvenation, and body contouring also support market growth.
Increasing incidences of chronic and skin diseases and the growing aging population are other major factors contributing to the growth of this industry. Globally, the geriatric population plays a major role in the growth of the market. In old age, loss of fibrous tissue and reduced vascular and glandular network in the layers of skin takes place. The appearance and characteristics of skin alters and leads to wrinkles, dryness, pigmentary alteration, and sagging of the skin. According to the UN-DESA, the population of individuals above 60 years of age in the U.S. will be 107 Million and that in China would be 437 million. The growing geriatric population worldwide is leading to the increasing adoption of these devices; thus, supporting the growth of the overall industry.
For safe operation of a medical laser system, all its essential functions must be monitored exhaustively to ensure that a device will switch off as soon as any malfunction occurs. The essential quantities are the output power and the output energy for pulsed devices. Typically, the power and the energy are monitored at three positions: directly at the head, distal to the shutter and control system, proximal to the beam handling system and inside the optical end unit as close as possible to the exit.
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A comprehensive analysis of the value chain and downstream raw materials and upstream essentials is offered in the report. The market report also covers technical data, manufacturing and production costs, research and development activities, regulatory framework, macro and micro-economic factors, and globalization. The report further segments the Medical Laser Systems market on the basis of key companies, product types, applications, and key regions to impart better understanding of the Medical Laser Systems market.
Leading Companies Profiled in the Report are:
Alcon Laboratories, AngioDynamics, American Medical Systems, Biolase, Bausch & Lomb Holdings, and Cardiogenesis Corporation among others
Further key findings from the report suggest
• On the basis of application, the urology segment dominates the global medical laser systems market
• Solid state devices are projected to witness lucrative development due to technological advancements and increasing application in the diagnostic field
• Dental application segment is anticipated to grow at a CAGR of 11.9%. Medical devices are extensively used in dentistry for the treatment of tooth decay, gum diseases, and biopsy
• For power lasers, the power supply, the cooling system and the head are arranged in a laser console. It also contains the first shutter and the control units, as well as the input coupler for the beam-handling system. The beam-handling systems for the far IR and sometimes also for the UV region could be articulated arms. Light guides are used in the near-UV-region, in the visible and the near-IR regions.
• Based on end-use, cosmetic dominates the global market with a 50% contribution in 2019. The increasing number of aesthetic procedures and growing demand for non-invasive treatments are some of the major factors fostering the growth of the cosmetics segment
• In solid- and liquid-state lasers, the medium is excited by optical pumping. Flash lamps and arc lamps are utilized or other suitable light sources like diodes. In gaseous devices an electric discharge directly through the medium excites the atoms and the molecules via electron impact. To keep the optical losses low and to achieve optimum feedback and decoupling, the resonator mirror must be well coated and uncoated, respectively.
• Optical feedback is possible only if the resonator mirrors are aligned in such a way that the electromagnetic wave is reflected into itself. This condition calls for a precise, highly stabilized mechano-optical design of the laser head; highly stable under all temperature and pressure conditions.
• North America dominates the global medical laser systems with a 44% regional share.
• Asia Pacific is expected to account for 19.7% of the global Medical Laser Systems industry. Developing nations such as China and India are likely to witness high growth
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For the purpose of this report, Reports and Data has segmented the Medical Laser Systems market on the basis of type, disease type, treatment type, end use, and region:
Type (Revenue, USD Million; 2017–2027)
• Solid state laser systems
o Holmium Yttrium Aluminum Garnet Laser Systems
o Erbium Yttrium Aluminum Garnet Laser Systems
o Neodymium Yttrium Aluminum Garnet Laser Systems
o Potassium Titanyl Phosphate Laser Systems
o Alexandrite Laser Systems
o Ruby Laser Systems
• Gaseous state laser systems
o Co2 Laser Systems
o Argon Laser Systems
o Krypton Laser Systems
o Metal Vapor Laser Systems
o Helium – Neon Laser Systems
o Excimer Laser Systems
• Dye Laser Systems
• Diode Laser Systems
Application (Revenue, USD Million; 2017–2027)
End Use (Revenue, USD Million; 2017–2027)
Key Regions Covered in the Report:
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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The pharma and healthcare industry, over the recent past, has undergone a paradigm shift with regards to the adoption of advanced technologies. Integration of AI, ML, 3D printing, and AR/VR have accelerated the R&D process, develop innovative and personalized medicines and therapies, and have improved efficiency and effectiveness of overall healthcare processing thereby improving patient outcomes. In addition, growing popularity and acceptance of wearable tech that enables patients to manage their health and make fruitful decisions and increasing integration of patient monitoring systems have further contributed to the revenue growth of the market. Progress in genomics and proteomics, focus on personalized medicine, and increasing number of clinical trials for pipeline therapeutics are further expected to create lucrative opportunities for key players in the market.
Key Benefits of the Global Medical Laser Systems Market Report:
• In-depth analysis of the market potential, threats, limitations, growth prospects and opportunities, drivers, restraints, challenges, and risks
• Analysis of the market opportunities and key trends to help stakeholders capitalize on the emerging prospects
• Analysis and accurate forecast estimation of the Global Medical Laser Systems Market
• Study of the key players including SWOT analysis and Porter’s Five Forces
• Analysis of each segment and sub-segment of the market to determine the growth trends and their market contribution
• Study of the developments in the competitive landscape such as agreements, partnerships, expansions, new product launches and brand promotions, and other market features
Highlights of the TOC of the report:
• Chapter 1: Market overview
• Chapter 2: Global Medical Laser Systems market analysis
• Chapter 3: Regional analysis of the Medical Laser Systems industry
• Chapter 4: Market segmentation based on types and applications
• Chapter 5: Revenue analysis based on types and applications
• Chapter 6: Market share
• Chapter 7: Competitive Landscape
• Chapter 8: Drivers, Restraints, Challenges, and Opportunities
• Chapter 9: Gross Margin and Price Analysis
• So on
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