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(Medical-NewsWire.com, October 16, 2017 ) During such surgeries, lasers are used to vaporize targeted parts of the cornea to reshape it in order to treat visual impairments. Every year, more than 120,000 people opt for laser eye surgery in UK. The use of lasers in eye surgeries helps in quick vision correction with less painful procedures, which is contributing to the market growth. Rising focus on aesthetic appeal is one of the major driving factors for the medical lasers market. According to the American Society for Aesthetic Plastic surgery (ASAPS), Americans spent more than $15 billion on aesthetic procedures in 2016, amounting to a rise of 11% from the previous year. Increasing demand for non-invasive procedures by the patients will further drive the demand for medical lasers. Lasers assist surgeons in performing complex tasks with reduced blood loss further minimizing the chances of wound infection.
Diode lasers segment holds a significant share of the global medical lasers market. These lasers have varied applications in different cosmetic procedures such as treatment of acne, wrinkles, and skin rejuvenation procedures. Solid state lasers are expected to grow at the highest CAGR during the forecast period. This high growth rate can be attributed to the compact designs and the low device cost along with their applications in skin treatments such as tattoo removal will further boost the market growth.
Cardiovascular diseases market is expected to grow at the high growth rate over the forecast period due to the presence of technologically advanced laser-based cardiovascular treatments such as laser angioplasty and laser thrombolysis. Rise in prevalence of cardiovascular diseases coupled with aging population is contributing to the market growth. Ophthalmology market will also register a promising growth owing to the rising applications of medical lasers in refractive surgeries.
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North America held more than one-third share of the global medical lasers market in 2016. Rise in geriatric population leading to cardiovascular disorders is a key factor driving the market growth. Asia-Pacific holds huge growth opportunity, due to presence of a large patient pool of cardiovascular disorders, rapidly aging population, and prevalence of unmet medical needs coupled with increase in disposable income of the people.
Market Classification
Medical Lasers Market, By Product, Estimates and Forecast, 2016-2025 ($Million)
Solid State Lasers
Erbium Yttrium Aluminum Garnet (Er:Yag) Lasers
Holmium Yttrium Aluminum Garnet (Ho:Yag) Lasers
Potassium Titanyl Phosphate (KTP)
Neodymium Yttrium Aluminum Garnet (Nd:Yag) Lasers
Alexandrite Lasers
Ruby Lasers
Gas Lasers
Co2 Lasers
Krypton Lasers
Ruby Lasers
Metal Vapor (Au & Cu) Lasers
Argon Lasers
Excimer Lasers
Helium-Neon Lasers
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Data Mining
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