Global Medical Lasers Market which is valued close to $3.5 billion (2020), is growing at a CAGR from 8-12% through 2020-2025
Medical lasers use precisely focused light sources to treat or remove tissues. These are used during cosmetic surgeries, refractive eye surgeries, dental procedures, and general surgeries. Further, medical lasers are also used in radiotherapy for patient positioning.
The
global medical lasers market growth is driven by the increasing prevalence of ophthalmic,
dermatology, and dental disorders.
Demand
for medical lasers is expected to grow as the prevalence of various disorders
increases. Ophthalmic is one of the major segments 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
Medical
laser companies are consistently launching innovative products with new
features and applications. For instance, 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. Such technological
advancements have helped broaden the adoption of medical lasers.
COVID-19
underscored the importance of Laser-assisted dentistry
The
American Dental Association (ADA) has recommended reducing aerosol production
to help prevent transmission of the virus during dental procedures. Many dental
practices use traditional high-speed handpieces that produce an aerosol. The
use of medical lasers can reduce aerosol production. For instance, Biolase, a dental
lasers company - claims to generate 98% less aerosol than dental handpieces.
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
Competitive
Landscape Analysis: Global Medical Lasers Market
The medical
lasers market is competitive and fragmented. The key players operating in the
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.
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