The global medical laser systems market is expected
to reach USD 12.5 billion by 2022, according to a new report by Grand View
Research, Inc. Rising demand for minimal and non-invasive procedures by
patients is anticipated to be the most impact rendering driver of the market.
Increasing
application of these systems for diagnostic purposes, rising geriatric
population base, propelling demand for cosmetic surgeries and technological
advances in pre-existing laser systems are vital factors driving the demand of
this market.
Medical laser
systems are being prominently applied in various branches of biology such as
urology, cardiology, ophthalmology etc for the purpose of diagnosis, disease
management and prevention. Augmenting cases of these disorders is expected to
positively impact market growth over the forecast period.
Solid state
lasers are anticipated to grow at the fastest rate during the forecast period
due to higher reliability, smaller compact designs, lowered cost of purchase
and prolonged life span of the systems. Diode lasers are expected to hold a
significant market share owing to the introduction of next generation Optically
Pumped Semiconductor Lasers (OPSLs) that provide unmatched electrical
efficiency.
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Further key findings from the study suggest:
- Solid state lasers are expected to grow at the fastest rate of over 10% during the forecast period due to technological advances and increasing application in diagnostic field. Neodynium Yttrium Aluminum Garnet (Nd:Yag) and Potassium titanyl phosphate (KTP) are expected to drive growth over the forecast period.
- On the basis of application segments, urology, cardiology and gynecology are expected to be the top contributors of the medical laser systems market. Statistics provided by the WHO estimate that over 17.5 million people annually are reported with chronic cases of cardiovascular disorder that require surgical follow-up.
- North America held over 35.0% of the market in 2014 due to rising disposable income, rising geriatric population base coupled with increasing cases of age-related disorders and conditions.
- Asia Pacific is anticipated to witness lucrative growth and capture over 25.0% share of the global market by 2022. Rising disposal income, increasing awareness and volume of cosmetic surgeries, increasing incidences of diabetic retinopathy, rheumatoid arthritis and dental caries are key drivers for the medical laser systems market growth within the region.
- Eminent players of this market include IRIDEX Corp., Lumenis Ltd., Syneron-Candela, Photomedex Inc., Spectranetics Corp., Biolase Inc., Bioform Medica Inc., biolitec, and Cutera.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
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Email:
sales@grandviewresearch.com
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