MEDICAL LASER SYSTEMS MARKET ANALYSIS

Market Challenges And Opportunities

Rising chronic illness prevalence, an aging population, and an increase in product launches are expected to fuel the growth of the global market for medical laser systems during the forecast period. For instance, in September 2021, Zelira Therapeutics, a company involved in the research and development of clinically validated cannabinoid medicines, announced the launch of RAF FIVE acne treatment products through its dermatology subsidiary Ilera Derm LLC, a skincare medical company. RAF FIVE provides a proven acne-fighting regimen developed with Zylorma, a revolutionary complex with cannabidiol (CBD) Isolate, Salicylic Acid, and additional compounds that fight bacteria and clogged pores associated with acne while helping to balance out sebum production and aid in eliminating and preventing breakouts

Figure 2. Global Medical Laser Systems Market Share (%), by Region, 2023

Global Medical Laser Systems Market - Driver

Increasing prevalence of ophthalmic disorders

Increasing prevalence of ophthalmic disorders leads to the increased use of medical lasers for elective surgeries or eye treatment is expected to drive the growth of the global medical laser systems market over the forecast period. For instance, in October 2022, according to National Glaucoma Research, more than 3 million Americans are living with glaucoma, 2.7 million of whom (aged 40 and older) are affected by its most common form, open-angle glaucoma and there are 80 million people worldwide with glaucoma, and this number is expected to increase to over 111 million by 2040.

Rise in chronic diseases such as cardiovascular disease (CVD)

Rise in the incidence of chronic diseases such as cardiovascular diseases leads to the use of medical laser systems which directly increases the need for the medical laser for the treatment and is expected to boost the growth of the global medical laser systems market over the forecast period. For instance, in June 2021, according to the World Health Organization, an estimated 17.9 million people died from CVDs in 2020, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Over three-quarters of CVD deaths take place in low and middle-income countries. Out of the 17 million premature deaths (under the age of 70) due to Non-communicable diseases in 2020, 38% were caused by CVDs.

Global Medical Laser Systems Market: Key Developments

On February 23, 2023, BIOLASE, Inc., a medical device company, announced the U.S. launch of the Waterlase Fractional Handpiece for doctors seeking a faster and more efficient way to perform skin resurfacing. The Waterlase Fractional Handpiece is U.S. FDA 510(k) cleared and built on the patented and proven Waterlase iPlus platform, the leading all-tissue laser in the marketplace. The hand piece can deliver both ablative and non-ablative fractional treatments and provides the doctor with control over the depth of penetration with different parameters and treatment techniques.