Global
Medical Lasers Market is estimated close to $3.5 Bn in Next five years.
Market segments are growing at a CAGR from 8-12% by 2025. The market growth is
driven by the growing use of lasers in medical/aesthetic procedures,
technological advancements, and an aging population.
Medical lasers are medical devices that use precisely
focused light sources to treat or remove tissues. Since these lasers can focus
accurately on tiny areas, they are used for precise surgical work or for
cutting through tissue (instead of a scalpel). These are used during cosmetic
surgeries, refractive eye surgeries, dental procedures, and general surgeries.
Laser surgery uses non-ionizing radiation, thus it does not have the long-term
risks as x-rays or other types of ionizing radiation. Further, medical lasers
are also used in radiotherapy for patient alignment/positioning (for instance,
laser systems offered by companies such as Lap Lasers and Cypra).
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The medical lasers market is driven by the growing
prevalence of ophthalmic, dermatology, and dental disorders.
The use of lasers in various ophthalmic, dermatology, and
dental procedures is growing. Their demand is expected to grow as the
prevalence of these disorders increases. Ophthalmic is one of the major
segments of the medical laser market and its growth is driven by the rising
incidence of cataracts/glaucoma/age-related macular degeneration (AMD).
According to the CDC statistics, ~17% of the people over 40 years of age in the
U.S. suffer from cataract conditions (~21 million population). The incidence of
cataracts is projected to reach 30 million by 2028 in the U.S. Further, as per
the International Agency for the Prevention of Blindness, the number of people
suffering from age-related macular degeneration (AMD) will grow from 196
million in 2020 to 288 million by 2040.
Technological advancements are driving the demand for
medical lasers
In recent years, the medical lasers market has witnessed
many technological advancements. The companies are launching innovative
products with new features and applications. For instance, Biolase Inc. and a
few other medical laser companies have designed erbium-based lasers capable of
treating both hard and soft tissues in various dental surgical procedures.
Further, Norlase (HQ: Denmark/US), has developed a medical laser with 1/10th of
the size of competing products, is battery-powered, and has voice control
features. The company received funding of $10.6 million in October 2021 for
further R&D and commercialization efforts. Such technological advancements
with improvements in cost, reliability, footprint, and usability have helped
broaden the adoption of medical lasers.
COVID-19 underscored the importance of Laser-assisted
dentistry
The COVID-19 pandemic created new challenges for dental
practices across the globe as there are growing concerns regarding infection
control. One of the major concerns is aerosol-generating dental procedures. The
American Dental Association (ADA) has recommended reducing aerosol production
as much as possible to help prevent transmission of the virus. Many dental
practices use traditional high-speed handpieces that produce an aerosol.
However, the use of medical lasers instead of handpieces can reduce aerosol
production. For instance, Biolase, one of the key players in the dental lasers
market claims to generate 98% less aerosol than traditional dental handpieces
and has a much lower radius of aerosol spray. This is likely to increase the
demand for dental lasers by the dental practices.
“In this new age, an aerosol reduction is of the highest
importance making dental lasers a vital tool for dentists. Driven by COVID-19
pandemic, the market will witness rapid adoption of dental lasers” –
Global Product Manager, Leading Dental Laser Company
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Regional Adoption: Medical Lasers Market
Comprehensive regional assessment of the global medical
lasers market covering the U.S., Europe (Germany, UK, France, and RoE),
Asia-Pacific, and RoW suggests that the U.S. is currently the largest market
for dental lasers, followed by Europe, APAC, and RoW. The key reasons for the
large share of the U.S. market are the high adoption/demand for medical lasers,
the greater purchasing power of end-users, and the presence of a larger number
of clinics/practices using cutting-edge technologies for various surgical/aesthetic
procedures.
Some of the key players in the global medical lasers market
are Lumenis, Dentsply Sirona, Alcon, Iridex, Biolase, AMD Lasers, Boston
Scientific, Bausch & Lomb, Cutera, Cynosure, Syneron-Candela, Zeltiq (part
of Allergan), Ellex, Ziemer, Nidek, Lap Lasers, and Cypra, among others.
About Medi-Tech
Insights
Medi-Tech Insights is a healthcare-focused business research
& insights firm. Our clients include Fortune 500 companies, blue-chip
investors & hyper-growth start-ups. We have completed 100+ projects in
Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma
Services in the areas of market assessments, due diligence, competitive
intelligence, market sizing and forecasting, pricing analysis &
go-to-market strategy. Our methodology includes rigorous secondary research combined
with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply
side decision-makers.
Contact:
Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
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