Medical Laser Systems Market: Increase in Ophthalmic and Cosmetic Surgeries to Propel Global Market
Soaring Investments in Research & Development Activities to Aid Market Growth
Ever since the first laser was developed nearly 60 years ago, laser technologies have evolved at a rapid pace. Due to technological advancements and emphasis on the discovery of innovative laser concepts, at present, lasers are extensively used across a host of industrial sectors. Developments in laser technologies over the past few decades have played an imperative role in revolutionizing the modern-day healthcare sector. Medical laser systems are increasingly being used across hospitals and specialized clinics around the world in an array of medical applications, including dermatology, cancer therapy, cardiovascular treatment, ophthalmology, and dentistry. This is expected to drive the medical laser systems market.
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While the science behind light remains the same, technologies and innovative laser concepts have matured at a rapid pace due to which, different types of lasers have entered the fray. Some of the most recent advancements within the laser field include the onset of new types of lasers such as holmium-doped laser, full silicon laser, and flying microlaser, among others. Advancements in photonics coupled with the surge in research and development activities have played a key role in increasing the adoption of medical laser systems over the past decade and the trend is likely to continue during the forecast period. At the back of these factors, the global medical laser systems market is on course to reach a market value of ~US$ 8.5 Bn the end of 2030.
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Demand for Solid-state Lasers on Rise Due to Progress in Photonics
Over the past few years, research institutes and the healthcare sector have extensively focused on exploring the potential benefits of new laser technologies in medical applications. The progress made by photonics in recent years has played a key role in the development of new lasers. Among different types of lasers, fiber lasers, a variant of the solid-state laser, have gained a considerable amount of popularity. The adoption of fiber lasers has consistently grown over the past few decades due to optimum physical characteristics of the waveguide structure of the fiber.
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Although fiber lasers are used across a broad spectrum of research and industrial applications, the demand from the medical field is on the rise. The adoption of fiber lasers in the medical field has shifted gears due to which, fiber lasers have emerged as one of the most promising tools that are likely to modernize the medical sector. The growing demand for painless and non-invasive medical treatments is another factor that is expected to propel the demand for medical laser systems in the forthcoming decade. Recent progress in cancer diagnosis using advanced laser technologies is another major factor that is likely to provide an impetus to the growth of the medical laser systems market.
Researchers around the world are increasingly focused on the development of photoacoustic imaging techniques, wherein living materials are thoroughly examined using laser light. At present, medical experts are increasingly exploring potential applications of photoacoustic imaging in the medical field.
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Medical Laser Systems Market: Major Players
- Key players operating in the global medical laser systems market include
- LASOS Lasertechnik GmbH
- Fujikura Ltd.
- BIOLASE, Inc.
- IRIDEX Corporation
- Candela Corporation
- Bausch & Lomb
- These players focus on adopting various growth strategies to expand their product portfolios and strengthen geographic presence across the globe. Key players have incorporated various strategies such as launch of innovative products, participation in events and fairs pertaining to medical laser technologies, mergers & acquisitions, and entering into emerging economies to remain competitive in the global medical laser systems market.
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