Medical Lasers Systems market size is projected to reach USD 5,834.02 million by 2028 with a CAGR of13.5%

The Medical Lasers Systems market research report provides an in depth examination of the key factors stimulating market expansion. It also sheds light on the challenges or restraining factors that are poised to hinder industry growth over the forecast timeframe. Growth rate, market share captured, and valuation estimates for each region, segment, and company are documented as well.

The 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.

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.

List of Companies operating in this report are: 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, CryoLife, Inc

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Furthermore, the market is segmented based on type, application, and region in order to study it exhaustively and provide the data in a systematic manner. Speaking of competitive landscape, the study includes a list of leading companies along with their product and service offerings, strategic decisions, SWOT analysis, latest developments, market share captured, growth rate, and valuation. The challenges faced by these companies are analyzed and solutions for them are given as well.

Product Type-Based Insights

Based on product type, the medical lasers systems market is segmented into diode lasers, solid-state lasers [holmium yttrium aluminum garnet (Ho: YAG) lasers, erbium yttrium aluminum garnet (Er: YAG) lasers, n 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. The solid-state lasers segment would account for the largest market share during 2021-2028. Solid-state lasers have gained attention in the global market owing to their significant improvement in the performance of such specialized lasers. This is evaluated as output power levels, wall-plug efficiency, reliability, and range of available wavelengths from the pump diodes and diode arrays. Also, modular and multiwavelength solid-state lasers provide therapeutic radiation proving effective for laser-lithotripsy, laser-angioplasty, neurosurgery, general surgery, and dentistry. Furthermore, solid-state lasers have had successful medical applications for many years due to their quick use and low absorption power in the water, which penetrated deeply into the skin and is mostly used in dermatology for hair removal and tissue rejuvenation.

Application-Based Insights

Based on application, the medical lasers systems market is segmented into dermatology, ophthalmology, gynecology, dentistry, cardiology, urology, and others). The ophthalmology segment holds a considerable market share and is projected to continue its dominance during the forecast period. Advances in medical laser systems have enabled successful surgeries for multiple eye diseases, such as diabetic retinopathy, retinal tears, detachment, and macular degeneration. These medical lasers systems help prevent vision loss by improving sight. Additionally, the manufacturers are bringing innovative products to the market. For example, Nidek, in May 2019, announced the launching of a new product by introducing the "YC-200 S plus ophthalmic YAG and SLT laser system/YC-200 ophthalmic YAG laser system", ensuring efficacious treatments for the patients.

End-User-Based Insights

By end-user, the medical lasers systems market is segmented into hospitals, specialty clinics, ambulatory surgery centers, and others. The specialty clinics segment held a considerable share of the market in 2021, and it is likely to continue its dominance in the market during the forecast period. Specialty clinics are centers of excellence assuring to deliver high standards of clinical outcomes. Specialty clinics focus on any one organ, a system of the body, or a particular disease. Therefore, these clinics are staffed with para-medical and nursing personnel with specialized skills that have been perfected over time. The role of specialty clinics in detecting, diagnosing, and managing eye disease, cardiac diseases, and others has gained huge attention. Such aforementioned factors have raised the demand for medical lasers systems.

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Several market forces such as drivers and restraints and political, social, economic and technological advancements help shape up the industry in specific manner. All such forces are studied in detail to arrive at a market forecast which can help build the investment strategies in Medical Lasers Systems market.

Essential points covered in Medical Lasers Systems market report are:-

What will the market size and the growth rate be in 2028?
What are the key growth stimulants of Medical Lasers Systems market?
What are the key market trends impacting Medical Lasers Systems market valuation?
What are the challenges to market proliferation?
Who are the key vendors in the Medical Lasers Systems market?
Which are the leading companies contributing to Medical Lasers Systems market valuation?
What was the market share held by each region in 2028?
What is the estimated growth rate and valuation of Medical Lasers Systems market in 2028?

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