Medical Lasers Market Outlook, Share, Emerging Demand and Growth by 2023


Posted July 2, 2018 by psmarketresearch2017

Global medical lasers market is forecasted to attain a size of more than $12 billion by 2023.

 
Some of the key factors driving the growth of the market are increasing demand of medical lasers from cosmetic industry, rise in the aging population, growing technological advancements and increasing prevalence of chronic diseases.

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Based on products offered, the medical lasers market is categorized as solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems. Solid state laser systems are expected to witness fastest growth in demand, at a CAGR of 14% during the forecast period. Among different types of solid-state laser systems, Ho:YAG systems, Er:YAG systems and potassium titanyl phosphate laser systems together held more than 40% share in 2016, which is still less than the contribution of Nd:YAG systems.

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Among the different applications of medical lasers, dentistry is expected to witness fastest growth in demand, with the CAGR ranging between 17% to 20% during the forecast period. Increasing number of tooth loss and dental caries, and high prevalence of periodontal diseases are the key factors driving the medical lasers market for dentistry, globally.

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Some of the other factors driving the APAC medical lasers market are increasing geriatric population and increasing disposable income. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the share of people aged 65 years and above occupies approximately 11.4% of population in 2013 and is estimated to reach approximately 20.0% of the total population by 2050, in Asia-Pacific. According to the National Institutes of Health (NIH), approximately 110 million people in China were aged 65 years and above in 2011, and the number is expected to reach 330 million by 2050.

Some of the major players in the global market include Biolase Inc., Boston Scientific Corporation, Cryolife Inc., Ellex Medical Lasers Limited., Lumenis Ltd., Photomedex, Inc., The Spectranetics Corporation, Syneron Medical Ltd., and Valeant Pharmaceutical International, Inc.

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Issued By pramod
Country Canada
Categories Health , Medical , Research
Tags medical lasers , medical lasers market
Last Updated July 2, 2018