Global Medical Laser Systems Market, By Product Type (Diode Lasers, Solid State (Crystal), Gas Lasers, and Dye Lasers), By Application (Dermatology, Ophthalmology, Gynecology, Urology, Dentistry, Cardiovascular, and Others (Gastroenterology, Rheumatology, and Traumatology)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) is estimated to be valued at US$ 3.67 Billion in 2023 and is expected to exhibit a CAGR of 12.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies such as product launches and partnerships, which will drive the global medical laser systems market over the forecast period. For instance, in June 2020, Olympus Corporation, a company that produces precise machinery and instruments for optics and digital technology, announced the commercial launch of the Soltive SuperPulsed Laser System (Soltive Laser System), a new application of thulium fiber laser technology designed for stone lithotripsy and soft tissue applications. The Soltive Laser System is 510(k) cleared by the U.S. FDA and CE (Conformité Européene) Mark approved by the responsible European Notified Body, and it is immediately available in the U.S., Canada, Europe, and select countries in the Middle East and Africa.
Global Medical Laser Systems Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global medical laser systems market. All elective procedures were stopped because of the COVID-19 epidemic. Patients who had appointments for elective surgery for chronic illnesses and opthalmology have had their procedures postponed because to the Covid-19 outbreak. Women have been forced to endure discomfort and inadequate short-term treatments as a result of limits on access to elective therapies, which were put in place either to reduce viral cross-transmission or to get the hospital infrastructure ready to help infected patients. The COVID-19 epidemic abruptly ended traditional care procedures and presented dental professionals with an unanticipated task. Dental workers were at the highest risk of getting and spreading the virus due to its high level of contagiousness and its ability to spread through the air and respiratory droplets. For instance, in June 2020, an article published in the Journal of Lasers in Medical Science by Springer Nature explained the effect of Covid-19 on elective surgeries and the decrease in the number of surgeries. While the use of lasers in the treatment for surgeries is decreased along with the decrease in the surgeries due to the restriction of covid-19.
Global Medical Laser Systems Market: Key Developments
In July 2021, Alma Lasers, a global innovator of laser, light-based, radiofrequency, and ultrasound solutions for the aesthetic and surgical markets announced the U.S. Food and Drug Administration 510(k) clearance of Alma Hybrid, the first laser platform to include an ablative 10,600 nm (CO2) laser and a non-ablative 1570 nm laser for skin resurfacing. Alma Lasers Hybrid offers physicians a comprehensive solution to utilize each best-in-class laser independently or for the very first time, customize the treatment pattern by combining both wavelengths.
In August 2020, LASEROPTEK, a developer and manufacturer of world-class laser devices for aesthetic and medical dermatology, announced the launch of its PALLAS Solid-State 311nm UVB laser in the United States. The efficacious and safe PALLAS laser is FDA-cleared for the treatment of vitiligo, psoriasis, atopic dermatitis, and leukoderma. PALLAS is the fifth LASEROPTEK laser device to receive FDA clearance in the U.S. for dermatological treatments and brings to the U.S. market the world's first solid-state UVB laser delivering efficacious and safer treatment for a variety of skin conditions that collectively affect close to a billion people worldwide
In March 2021, Bausch Health Companies Inc., a multinational specialty pharmaceutical company and its division Solta Medical business, designs, develops, manufactures, and markets energy-based medical device systems for aesthetic applications announced the U.S. launch of the Clear + Brilliant Touch laser, the company's next generation Clear + Brilliant laser. The Clear + Brilliant Touch laser delivers a customized and more comprehensive treatment protocol by providing patients of all ages and skin types with the benefits of two wavelengths. By seamlessly switching between two wavelengths with the Original and Perméa handpieces, physicians can now more easily deliver a more complete treatment during a single appointment
In July 2022, LASEROPTEK, a developer and manufacturer of world-class laser devices for aesthetic and medical dermatology, announced that it has signed a nationwide, multi-year, exclusive distribution agreement with Monarch Laser Services, a Medical Equipment Manufacturing, Consumer Electronics & Computers, and Cosmetic Laser Rentals company. The agreement covers sales, marketing, and clinical education for LASEROPTEK's lineup of U.S. FDA-cleared laser systems designed for medical aesthetic indications in the U.S. market.
Browse 34 Market Data Tables and 26 Figures spread through 220 Pages and in-depth TOC on “Global Medical Laser Systems Market”- Forecast to 2030, Medical Laser Systems Market, By Product Type (Diode Lasers, Solid State (Crystal), Gas Lasers, and Dye Lasers), By Application (Dermatology, Ophthalmology, Gynecology, Urology, Dentistry, Cardiovascular, and Others (Gastroenterology, Rheumatology, and Traumatology)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
http://www.coherentmarketresearch.in/market-insight/medical-laser-systems-market-3922
Key Takeaways of the Global Medical Laser Systems Market:
- The global medical laser systems market is expected to exhibit a CAGR of 12.9% during the forecast period. Collaboration with emerging economies offers lucrative growth opportunities for players in the global medical laser systems market.
- Among Application, the dermatology segment is expected to growth in the global medical laser systems market over the forecast period owing to the advances in technology, lower treatment costs, and rising average expenses associated with delivering healthcare to a population. For instance, in February 2022, STRATA Skin Sciences, Inc., a medical technology company dedicated to developing, commercializing, and marketing innovative products for the treatment of dermatologic conditions, announced its commercial launch, with the first installation in the U.S. market, of its next-generation excimer laser system, XTRAC Momentum 1.0. The XTRAC excimer laser technology allows for the precise delivery of targeted UVB light therapy to specific treatment areas of the skin, for both adult and pediatric patients suffering from inflammatory skin conditions such as psoriasis, atopic dermatitis, and vitiligo. STRATA’s new XTRAC Momentum 1.0 represents the latest in excimer laser technology, delivering higher power and a faster repetition rate than the current models. The Momentum also offers a new user interface and slim design, both intended to improve the treatment experience.
- Among Product Type, the gas lasers segment is expected to hold a dominant position in the global medical laser systems market during the forecast period and this is attributed due to the high incidence of sun damage, wrinkles, scars, warts, birthmarks, and other skin conditions as well as for the treatment in eye surgeries. For instance, in October 2020, Alma, a global innovator of laser, light-based, radiofrequency, and ultrasound solutions for the aesthetic and surgical markets, announced the FDA 510(k) clearance of its Alma Hybrid laser. This laser platform is the first to include an ablative 10,600 nm (CO2) laser and a nonablative 1570 nm laser for skin resurfacing, according to a press release announcing the approval. This allows physicians to select customized treatment patterns by combining both wavelengths.
- Major players operating in the global medical laser systems market include Johnson & Johnson Services, Inc., Alcon Inc., Bausch & Lomb Incorporated or its affiliates, LENSAR, Inc., NIDEK CO., LTD., iVIS Technologies, ZEISS International, Ziemer Ophthalmic Systems AG, Ra Medical Systems, SCHWIND eye-tech-solutions, CryLaS Crystal Laser Systems GmbH, Excel Technologies Inc., Elforlight Ltd, LTB Lasertechnik Berlin GmbH, Quanta System, Inc., LUMIBIRD, DEKA M.E.L.A. srl, Fotona, Syneron Medical Ltd (Acquired by Candela Corporation), and Radiant Dyes Laser & Accessories GmbH.
