Laser surgery uses non-ionizing radiation. CO2 lasers, diode lasers, dye lasers, excimer lasers, fiber lasers, gas lasers, free electron lasers, semiconductor diode lasers are some of the types of lasers used in medicine.

Statistics:

The global Medical Laser Systems Market is estimated to account for US$ 5,884.3 Mn in terms of value by the end of 2027.

Global Medical Laser Systems Market: Drivers

Approval and launch of new products is expected to propel growth of the global medical laser systems market over the forecast period. For instance, in May 2019, LENSAR, Inc. received 510(k) clearance from the U.S. Food and Drug Administration for the LENSAR Laser System with Streamline IV for the treatment of additional corneal conditions post cataract surgery.

Global Medical Laser Systems Market: Opportunities

Increasing prevalence of skin disorders is expected to offer lucrative growth opportunities for players in the global medical laser systems market. For instance, according to Global Polaris Atlas Annual Report 2018-2019, the annual incidence rate of psoriasis was 280 per 100,000 person-years during 2017 and the prevalence of the disease witnessed an increasing trend (from 2.5% in 2011 to 3.9% in 2017).

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Global Medical Laser Systems Market: Restraints

High cost of laser surgeries is expected to hinder growth of the market. The average cost of a femtosecond laser system is approximately US$ 500,000 along with service fees of around 10% per year, and a per-use fee of around US$ 350 to US$ 450 per eye.

Key Takeaways:

The global medical laser systems market was valued at US$ 2,284.7 Mn in 2019 and is forecast to reach a value of US$ 5,884.3 Mn by 2027 at a CAGR of 12.6% between 2020 and 2027. Approval and launch of new products is expected to propel growth of the global medical laser systems market over the forecast period.

Dermatology segment held dominant position in the global medical laser systems market in 2019, accounting for 22.7% share in terms of value, followed by Ophthalmology and Dentistry, respectively. Increasing prevalence of skin disorders is expected drive the growth of dermatology segment in the global medical laser systems market during the forecast period

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Market Trends

Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in February 2020, Integer Holdings Corporation acquired Inomec, an Israel-based manufacturer of medical devices, including minimally invasive tools, delivery systems, metal implants, drug-device combination devices, and laser processing services.

Major players in the market are also focused on product approval and launch to expand their product portfolio. For instance, in May 2019, LENSAR, Inc. received 510(k) clearance from the U.S. Food and Drug Administration for the LENSAR Laser System with Streamline IV for the treatment of additional corneal conditions post cataract surgery.

Global Medical Laser Systems Market: Competitive Landscape

Major players operating in the global medical laser systems market include, Abbott Medical Optics, Inc., Alcon Inc. (Novartis AG), Bausch & Lomb Incorporated, LENSAR, Inc., NIDEK CO., LTD, iVIS Technologies, ZEISS International, Ziemer Ophthalmic Systems AG, Ra Medical Systems, Inc., SCHWIND Eye-Tech-Solutions GmbH & Co. KG, Crystal Laser Systems GmbH, Excel Technologies Inc., Elforlight Ltd., LTB Lasertechnik Berlin GmbH, Quanta System Inc., Quantel Laser (Lumibird), DEKA M.E.L.A. srl, Fotona, LLC, Syneron Medical Ltd., and Radiant Dyes Laser & Accessories.

Global Medical Laser Systems Market: Key Developments

June 2018: Johnson & Johnson Vision received the U.S. Food and Drug Administration (FDA) approval for the iDESIGN Refractive Studio, for myopia, hyperopia, and mixed astigmatism

2018: Syneron Medical Ltd received the U.S. FDA clearance for its Vbeam Prima system with an advanced 595nm pulsed dye laser and 1064nm wavelength

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