Medical Lasers Systems Market Size Worth $5,834.02 Million, Globally, by 2028 at 13.5% CAGR - Exclusive Report by The Insight Partners

NEW YORK, Jan. 11, 2022 /PRNewswire/ -- According to the new market research report "Medical Lasers Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type {Diode Lasers, Solid-State Lasers [Holmium Yttrium Aluminum Garnet (Ho: YAG) Lasers, Erbium Yttrium Aluminum Garnet (Er: YAG) Lasers, Neodynium Yttrium Aluminum Garnet (Nd: YAG) Lasers, Potassium Titanyl Phosphate (KTP), Alexandrite Lasers, and Ruby Lasers], Gas Lasers [Co2 Laser, Argon Laser, Krypton Laser, Metal Vapor (Au and Cu) Laser, Helium-Neon Laser, and Excimer Laser], and Dye Lasers}, Application (Dermatology, Ophthalmology, Gynecology, Dentistry, Cardiology, Urology, and Others), and End-User (Hospitals, Specialty Clinics, Ambulatory Surgery Centers, and Others), and Geography", published by The Insight Partners, the global medical lasers systems market is projected to reach US$ 5,834.02 million by 2028 from US$ 2,398.60 million in 2021; it is expected to grow at a CAGR of 13.5% from 2021 to 2028.

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Medical Laser Systems Market: Competition Landscape and Key Developments

Lumenis Be Ltd.; Ellex Medical Laser (Noval Eye Medical); Koninklijke Philips N.V., BIOLASE, Inc.; Boston Scientific Corporation; Bausch Health Companies Inc.; Alcon Inc.; Iridex Corporation; Candela Medical; and CryoLife, Inc. are among the key companies operating in the medical lasers systems market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities.

In January 2021, Candela Medical announced the launch of Frax Pro system. The new product delivers highly targeted 1550 nm and 1940 nm wavelengths for dual-depth skin resurfacing applications.

In September 2018, Iridex Corporation announced the launch of TruFocus LIO. The newly launched product is a light combination and reflection viewing system used with IRIDEX retina laser systems. The device can be used to evaluate and treat patients of all ages, such as infants, in an office, operating room, and ambulatory surgical center setting.       

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The increasing prevalence of eye disorders is one of the most key factors driving the growth of the market. Corneal diseases are the second-leading cause of blindness globally, after cataracts. According to the report released by the American Academy of Ophthalmology, cataracts affect more than 24.4 million Americans aged 40 and older. Also, diabetic retinopathy affects nearly 7.7 million Americans aged 40 and older. To avoid this, laser vision correction through medical lasers systems is the most common surgical procedure. Additionally, advances in laser ablation profiles have resulted in a better quality of vision, including better night vision. Thus, the rising prevalence of eye disorders globally raises the demand for medical lasers.

A significant rise in the elderly population is another factor that drives the overall growth of the medical lasers systems market. With age, ophthalmic diseases can lead to significant health problems. Among the geriatric population, age-related macular degeneration results in the most common ophthalmic diseases, such as loss of central vision, glaucoma, retinal detachment, cataracts, and diabetic retinopathy. For instance, as per the American Institute of Ophthalmology report, almost 24.4 million people under the age of 40 undergo cataract surgery, and nearly half of all Americans undergo cataract surgery by the age of 75. This has resulted in the potential adoption of new technology, such as femtosecond lasers, in cataract surgery involving a large upfront investment and promises to improve patient outcomes.

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Browse Adjoining Reports:

Therapeutic Laser System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Diode Laser Systems, Solid State Laser Systems, Dye Lasers Systems, Gas Lasers Systems); End users (Hospitals, Clinics, Ambulatory Surgical Centers)

Semiconductor Laser Therapeutic Instrument Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Desk Type, Portable Type, Others); End User (Hospitals, Dental Clinics, Others)

Diabetic Eye Disease Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Vitrectomy Packs, Retinal Lasers, Vitrectomy Machines); End User (Hospitals, Clinics, Ambulatory Surgery Centers)

Excimer & Femtosecond Ophthalmic Lasers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Excimer Laser and Femtosecond Laser), Application (Refractive Surgery, Cataract Surgery, Capsulotomy, Trabeculoplasty, and Diagnostics), and End User (Hospitals, Ambulatory Surgical Centers, and Ophthalmology Clinics)

Optical Sorting Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Platform (Belt, Freefall, Lane, Hybrid); Type (Cameras, Lasers, NIR Sorters, Hyperspectral, Cameras and Combined Sorters); End-Users (Food Processing, Mining and Metallurgy, Pharmaceutical Industry, Waste Management, Other) and Geography

ENT Surgery Lasers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (CO2 Laser, Argon Laser, Nd: YAG Laser, Diode Laser); Application (Nasal Polypectomy, Turbinate Hyperplasia, Laser Assisted Uvulopalatoplasty (LAUP), Functional Endoscopic Sinus Surgery (FESS), Others); End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others)

Tunable Lasers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type [Solid State, Gas, Free Electron Laser (FEL), and Others], End-User (Manufacturing, Telecommunication, Medical and Biotechnology, Aerospace, Electronics and Semiconductor, Industrial, and Others), Technology [Cavity Diode Laser (DBR), Distributed Bragg Reflector Laser (DFB), Vertical Cavity Surface Emitting Lasers (VCSELs), Micro Electro Mechanical System (MEMS), and Others], and Wavelength (Less than 1000 nm, 1000 nm–1500 nm, and Above 1500 nm)

Dermatology Lasers Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (High-Flux Dialyzer and Low-Flux Dialyzer), End User (In-Center Dialysis, Home Dialysis and Others), and Geography

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