It is expected to grow at a CAGR of 13.5% from 2021 to 2028. The report highlights the prevailing trends in the market and the factors driving the growth of the market. The growth of the medical laser systems market is attributed to the increasing prevalence of eye diseases and a significant increase in the geriatric population.
NEW YORK, May 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Medical Laser Systems Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Product Type {Diode Lasers, Solid State Lasers) , gas lasers, dye lasers and fiber lasers}, applications and end users”- https://www.reportlinker.com/p06279449/?utm_source=GNW
However, stringent safety regulations are hindering the market.
Medical laser systems are precisely used to treat or remove tissue using focused light. When used properly, medical laser systems can allow surgeons to perform more complex tasks, reduce blood loss, reduce postoperative discomfort, reduce the chance of wound infection, and achieve better wound healing.
Increasing prevalence of eye diseases is a key factor driving the growth of the medical laser systems market. According to the World Health Organization (WHO), by February 2020, at least 2.2 billion people worldwide are expected to suffer from nearsightedness or farsightedness. In at least 1 billion, or nearly half, of the cases, vision impairment could have been prevented or had not been corrected. These 1 billion included people with refractive errors (88.4 million), cataracts (94 million), glaucoma (7.7 million), corneal opacities (4.2 million), diabetic retinopathy (3.9 million), trachoma (2 million), and Resolved near vision weakness due to presbyopia (826 million).
Regarding regional differences, the prevalence of distance vision impairment in low- and middle-income countries is four times higher than in high-income countries. It is estimated that the unresolved near vision deficit rate in West, East and Central Sub-Saharan Africa will exceed 80% by 2021.
In contrast, rates of near vision deficits were comparable in high-income regions such as North America, Australasia, and Western and Western Europe. Population growth and aging further drive more people at risk of developing visual impairment.
Currently, cataracts affect about 65.2 million people and cause moderate to severe vision loss in more than 80% of cases, according to a WHO report. As the age of the global population and average life expectancy continue to increase, the number of cataract patients is expected to continue to grow in the coming years.
Laser vision correction is one of the most common surgical procedures to treat cataracts. The main factors behind the increasing preference of patients for laser vision correction are the continued improvement in visual outcomes and the continued reduction in postoperative complication rates.
Advances in flap formation techniques, such as the use of femtosecond lasers, have improved the quality of vision and reduced the incidence of flap complications and postoperative dry eye disease (DED). In addition to this, advances in laser ablation profiles have also resulted in better quality of vision, including better night vision.
Therefore, the rising prevalence of eye diseases worldwide places high demands on medical lasers.
To analyze the global Medical Laser Systems market on the basis of product type, application and end user.On the basis of product type, the market is segmented into diode lasers, solid-state lasers [holmium yttrium aluminum garnet (Ho: YAG) lasers, erbium yttrium aluminum garnet (Er:YAG) lasers, neodynium yttrium aluminum garnet (Nd: YAG) lasers, potassium titanyl phosphate (KTP), alexandrite lasers, ruby lasers, and thulium yttrium aluminum garnet (Tm:YAG) lasers]gas laser [CO2 laser, argon laser, krypton laser, metal vapor (Au and Cu) laser, helium-neon laser, and excimer laser]dye lasers, fiber lasers (thulium fiber lasers, erbium fiber lasers, ytterbium fiber lasers).
The solid-state laser segment will hold the largest market share in 2021. However, the diode laser segment is expected to register the highest CAGR during the forecast period.
On the basis of application, the market is segmented into dermatology, ophthalmology, gynecology, dentistry, cardiology, urology, and others. Dermatology will hold the largest market share in 2021.
However, the ophthalmology segment is expected to register the highest CAGR during the forecast period. On the basis of end user, the market is segmented into hospitals, specialist clinics, ambulatory surgery centers, and others. The specialist clinics segment will hold the largest market share in 2021. However, the hospital segment is expected to register the highest CAGR during the forecast period.
COVID-19 Impact Analysis: Medical Laser Systems Market
The COVID-19 pandemic in the region has had a mild negative impact on the medical device industry. Various companies have shut down production and therefore cannot produce to meet the growing demand.
The COVID-19 pandemic has had a significant negative impact on the global economy. Health services in the European region have high priority for patients affected by COVID-19.
Regular health care services remain suspended. Due to these laser devices, medical care in the region and its reliable revenue generation has stalled.
Europe has long been in the midst of a dynamic development of laser treatment, adapting to different cultures, traditions, and surgical and medical philosophies. Recently, these changes have been more pronounced and rapid.
On the other hand, the increase in novel coronavirus infections has increased significantly. This raises questions about the safety of lasers and microneedling for cosmetic treatments.
Countries such as the UK, Belgium, Switzerland, Germany, France, Italy and Spain were severely affected. As a result, the lockdown has broadly affected the flow of businesses across and beyond the region. Also, various conferences related to the beauty industry are being conducted through webinars. The rollout of a COVID-19 vaccine eases restrictions in early 2021, and the reopening of services and industries around the world could yield some positive outcomes. Therefore, the COVID-19 pandemic is expected to have a mild negative impact on the medical laser systems market and is expected to recover quickly after the restart.
The World Health Organization (WHO), Canadian Dermatology Association (CDA), American Academy of Dermatology (AAD), and American Academy of Ophthalmology (AAAO) are among the primary and secondary sources referenced when preparing reports on medical laser systems.
Read the full report: https://www.reportlinker.com/p06279449/?utm_source=GNW
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