Medical Laser Systems Market To Reach $12.5 Billion By 2022: Grand View Research, Inc.
The global medical laser systems
market is expected to reach USD 12.5 billion by 2022, according to
a new report by Grand View Research, Inc. Rising demand for minimal and
non-invasive procedures by patients is anticipated to be the most impact
rendering driver of the market.
Increasing application of these
systems for diagnostic purposes, rising geriatric population base, propelling
demand for cosmetic surgeries and technological advances in pre-existing laser
systems are vital factors driving the demand of this market.
Medical laser systems are being
prominently applied in various branches of biology such as urology, cardiology,
ophthalmology etc for the purpose of diagnosis, disease management and
prevention. Augmenting cases of these disorders is expected to positively
impact market growth over the forecast period.
Solid state lasers are
anticipated to grow at the fastest rate during the forecast period due to
higher reliability, smaller compact designs, lowered cost of purchase and
prolonged life span of the systems. Diode lasers are expected to hold a
significant market share owing to the introduction of next generation Optically
Pumped Semiconductor Lasers (OPSLs) that provide unmatched electrical
efficiency.
North America medical laser
systems market, by product, 2012-2022, (USD Million)
Browse full research report on
Medical Laser Systems Market
Further key findings from
the report suggest:
- Solid state
lasers are expected to grow at the fastest rate of over 10% during the
forecast period due to technological advances and increasing application
in diagnostic field. Neodynium Yttrium Aluminum Garnet (Nd:Yag) and
Potassium titanyl phosphate (KTP) are expected to drive growth over the
forecast period.
- On the basis
of application segments, urology, cardiology and gynecology are expected
to be the top contributors of the medical laser systems market. Statistics
provided by the WHO estimate that over 17.5 million people annually are
reported with chronic cases of cardiovascular disorder that require
surgical follow-up.
- North America
held over 35.0% of the market in 2014 due to rising disposable income,
rising geriatric population base coupled with increasing cases of
age-related disorders and conditions.
- Asia Pacific
is anticipated to witness lucrative growth and capture over 25.0% share of
the global market by 2022. Rising disposal income, increasing awareness
and volume of cosmetic surgeries, increasing incidences of diabetic
retinopathy, rheumatoid arthritis and dental caries are key drivers for
the medical laser systems market growth within the region.
- Eminent
players of this market include IRIDEX Corp., Lumenis Ltd., Syneron-Candela,
Photomedex Inc., Spectranetics Corp., Biolase Inc., Bioform Medica Inc.,
biolitec, and Cutera.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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