Rising prevalence of eye-related disorders, rising number of patients using advanced laser-based treatments, and the increasing importance of aesthetics are key factors contributing to high CAGR during the forecast period.
According to the current analysis of Reports and Data, the global Medicinal Laser Method market was valued at USD 1808.2 Million in 2019 and is expected to reach USD 4925.1 Million by the year 2027, at a CAGR of 12.2%. The primary factor driving the growth of this industry is technological advancements. The latest advancements in technology have led to an increase in the number of its applications in the medicinal industry. These advancements have benefits such as small incisions, decrease in the intensity of pain and fast recovery after any surgical procedure. These devices are becoming more advanced with the employment of hand-held diodes. Moreover, the increase in the application of technology for various cosmetic treatments, including hair removal, skin rejuvenation, and body contouring also support market growth.
Increasing incidences of chronic and skin diseases and the growing aging population are other major factors contributing to the growth of this industry. Globally, the geriatric population plays a major role in the growth of the market. In old age, loss of fibrous tissue and reduced vascular and glandular network in the layers of skin takes place. The appearance and characteristics of skin alters and leads to wrinkles, dryness, pigmentary alteration, and sagging of the skin. According to the UN-DESA, the population of individuals above 60 years of age in the U.S. will be 107 Million and that in China would be 437 million. The growing geriatric population worldwide is leading to the increasing adoption of these devices; thus, supporting the growth of the overall industry.
Leading companies operating in the market and profiled in the report include:
Alcon Laboratories, AngioDynamics, American Medicinal Method, Biolase, Bausch & Lomb Holdings, and Cardiogenesis Corporation among others
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Further key findings from the report suggest
- On the basis of application, the urology segment dominates the global medicinal laser method market
- Solid state devices are projected to witness lucrative development due to technological advancements and increasing application in the diagnostic field
- Dental application segment is anticipated to grow at a CAGR of 11.9%. Medicinal devices are extensively used in dentistry for the treatment of tooth decay, gum diseases, and biopsy
- For power lasers, the power supply, the cooling system and the head are arranged in a laser console. It also contains the first shutter and the control units, as well as the input coupler for the beam-handling system. The beam-handling method for the far IR and sometimes also for the UV region could be articulated arms. Light guides are used in the near-UV-region, in the visible and the near-IR regions.
- Based on end-use, cosmetic dominates the global market with a 50% contribution in 2019. The increasing number of aesthetic procedures and growing demand for non-invasive treatments are some of the major factors fostering the growth of the cosmetics segment
- In solid- and liquid-state lasers, the medium is excited by optical pumping. Flash lamps and arc lamps are utilized or other suitable light sources like diodes. In gaseous devices an electric discharge directly through the medium excites the atoms and the molecules via electron impact. To keep the optical losses low and to achieve optimum feedback and decoupling, the resonator mirror must be well coated and uncoated, respectively.
- Optical feedback is possible only if the resonator mirrors are aligned in such a way that the electromagnetic wave is reflected into itself. This condition calls for a precise, highly stabilized mechano-optical design of the laser head; highly stable under all temperature and pressure conditions.
- North America dominates the global medicinal laser method with a 44% regional share.
- Asia Pacific is expected to account for 19.7% of the global Medicinal Laser Method industry. Developing nations such as China and India are likely to witness high growth
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Dominant key players in the market are adopting various strategies like mergers and acquisition, partnerships, collaborations, joint ventures and product launches to gain a robust footing in the market. Growing demand for various medicinal products, increasing adoption of home-care settings, point-of-care diagnosis, high demand for vaccines and medication for controlling COVID-19 is expected to benefit the key companies throughout the forecast period.
Global Medicinal Laser Method Market Segmentation:
Type (Revenue, USD Million; 2017–2027)
- Solid state laser method
- Holmium Yttrium Aluminum Garnet Laser Method
- Erbium Yttrium Aluminum Garnet Laser Method
- Neodymium Yttrium Aluminum Garnet Laser Method
- Potassium Titanyl Phosphate Laser Method
- Alexandrite Laser Method
- Ruby Laser Method
- Gaseous state laser method
- Co2 Laser Method
- Argon Laser Method
- Krypton Laser Method
- Metal Vapor Laser Method
- Helium – Neon Laser Method
- Excimer Laser Method
- Dye Laser Method
- Diode Laser Method
Application (Revenue, USD Million; 2017–2027)
End Use (Revenue, USD Million; 2017–2027)
The global Medicinal Laser Method market is broadly divided into 5 major regions, viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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