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Medical Laser Systems Market 2020-2024: Scope
Our medical laser systems market report covers the following areas:
Medical Laser Systems Market 2020-2024: Drivers & Challenges
The key factor driving growth in the medical laser systems market is the rising incidents of chronic diseases. Increasing cases of chronic conditions including cardiovascular diseases, diabetes, obesity, skin disorders, eye-related diseases, urological disorders (kidney stones removal), and gynecological diseases worldwide will be influencing the market growth positively. Also, the increasing older adult population worldwide prefers non-invasive or minimally invasive procedures for the treatment of various diseases. Various government initiatives, awareness programs by NGOs, an inclination toward non-invasive treatment procedures, and collaboration of vendors with a hospital to offer medical laser systems at the optimum price, are expected to attract end-users for better diagnosis and treatment of various chronic diseases, which will have a positive impact on the market.
However, the stringent government regulations will be a major challenge for the medical laser systems market. Medical laser systems offered by vendors are subject to government regulations such as FDA in the US, CE marking in Europe, and other regulations in different regions and countries worldwide. Commercialization of these products with different technologies is a challenging process as some products come under class IV (tests are subject to the greatest level of scrutiny) under the FDA regulations. Medical laser systems classified under the Class IV category in the EU are considered high-risk devices. These devices require premarket approval from notified bodies, including private organizations recognized by the European Free Trade Association. The radiation safety performance standard is mandatory, and products must comply with the requirements of the standard.
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Medical Laser Systems Market 2020-2024: Segmentation
- Product
- Diode Laser Systems
- Dye Laser Systems
- Gas Laser Systems
- Solid Laser Systems
- Type
- Aesthetic Lasers
- Surgical Lasers
- Therapeutic Lasers
- Diagnostics Lasers
- Geography
- North America
- Europe
- APAC
- South America
- MEA
Medical Laser Systems Market 2020-2024: Revenue Generating Segment & Regional Analysis
- 28% of the market's growth will originate from North America during the forecast period. The US is the key market for medical laser systems in North America. Market growth in this region will be faster than the growth of the market in the European, APAC, and MEA regions. The quick growth of this market is because of physicians adopting cutting-edge laser procedures in non-invasive techniques, such as laser tattoo removal, laser hair removal, laser wrinkle reduction, skin tightening, and photo facial. Also, the US has many skilled surgeons trained in state-of-the-art equipment.
- The medical laser systems market share growth in the diode laser systems segment will be significant for revenue generation. The global diode laser systems market will witness steady growth in comparison to other product segments during the forecast period. These systems are used in several aesthetic treatments and photodynamic therapies at optimum prices that could boost the market during the forecast period. The market is expected to benefit from increased demand for low-cost laser systems in emerging economies owing to growing awareness about laser aesthetics medicine and growing incidents of chronic diseases.
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Medical Laser Systems Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist medical laser systems market growth during the next five years
- Estimation of the medical laser systems market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the medical laser systems market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of medical laser systems market vendors
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Medical Laser Systems Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12% |
Market growth 2020-2024 |
USD 3.07 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.70 |
Performing market contribution |
North America at 28% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Alcon Inc., Bausch Health Companies Inc., Candela Corp., Carl Zeiss AG, Cynosure Inc., IRIDEX Corp., Johnson & Johnson, Lumenis Ltd., Olympus Corp., and Stryker Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table Of Contents :
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Diode laser systems - Market size and forecast 2019-2024
- Dye laser systems - Market size and forecast 2019-2024
- Gas laser systems - Market size and forecast 2019-2024
- Solid laser systems - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Procedure
- Market segments
- Comparison by Procedure
- Aesthetic lasers - Market size and forecast 2019-2024
- Surgical lasers - Market size and forecast 2019-2024
- Therapeutic lasers - Market size and forecast 2019-2024
- Diagnostics lasers - Market size and forecast 2019-2024
- Market opportunity by Procedure
Market Segmentation by Application
- Ophthalmology
- Dermatology
- Gynecology
- Dentistry
- Urology
- Cardiology
- Others
Market Segmentation by End-user
- Aesthetic clinics
- Hospitals
- Ambulatory surgical centers
- Others
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Industry risks
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Alcon Inc.
- Bausch Health Companies Inc.
- Candela Corp.
- Carl Zeiss AG
- Cynosure Inc.
- IRIDEX Corp.
- Johnson & Johnson
- Lumenis Ltd.
- Olympus Corp.
- Stryker Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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