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Global Aesthetic Medical Laser Systems Market and provides statistics and information on market size, shares and growth factors.
NEW YORK, UNITED STATES, December 5, 2022 /einpresswire.com / -- The report highlights the trends prevailing in the market and drivers and restraints pertaining to its growth. The growth of the market is mainly attributed to increase in aesthetic/cosmetic procedures and broad medical applications of laser systems. Further, medical tourism offers lucrative opportunities for the players operating in the global market. However, the high cost of aesthetic medical laser systems might hinder the market growth.
According to our latest study on“aesthetic medical laser systems market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type, Application, and End User,” the market was valued at US$ 956.87 million in 2019 and it is projected to reach US$ 1,961.00 million by 2027; it is expected to grow at a CAGR of 9.6% during 2020–2027.
A few of the most notable companies occupying a considerable share of the market Bausch Health Companies Inc; Sisram Medical Ltd (ALMA LASERS); Sciton, Inc; Lumenis; Candela Medical; Cutera Inc; Cynosure; Aerolase Corp; El.En. S.p.A, and STRATA Skin Sciences.
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Market leaders are involved in partnerships, product launches, acquisitions, and other strategies to improve their performance and consolidate the market position. For instance, In November 2020 Sciton Inc. established direct operations in the United Kingdom and Ireland. This expansion is expected to develop the company's marketing, sales, clinical education and service offerings through direct operations in the Europe region.
Prominent players in the aesthetic medical laser systems market are focusing on organic strategies such as product launches, product approvals, and geographic and manufacturing expansions. These strategies help them strengthen their market positions, along with allowing them to broaden their geographic footprints. Additionally, various companies are undertaking acquisitions to garner their significance and remain competitive in the market.
A few of the vital developments in the aesthetic medical laser systems market are mentioned below:
2020: Sisram Medical Company (Alma), launched Alma Hybrid a pioneer device that exclusively combines 3 powerful energy sources to deliver unique outcomes.
2020: Sciton Inc. launched the new products platform mJOULE. It includes a new fractional treatment, MOXI, and BBL HERO, it is one of the biggest improvement in pulsed light-based technology.
2019: Candela medical, is among the leading global medical aesthetic device company acquired the Ellipse a Danish medical device company that manufactures and markets Intense Pulsed Light and laser-based platforms that has application for different skin indications.
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Depending upon the severity and requirement, different types of lasers, including diode, fiber, Raman, and Mid-IR hybrid lasers, are utilized. Developments in technology have enabled medical professionals to offer efficient and effective laser therapies for medical indications, such as cancer, cardiovascular diseases, and pain management. In addition, technological advancements have further extended the use of lasers for painless sealing of nerves after surgery and prevention of blood loss by sealing the injured site. Thus, use of lasers in the medical field allows surgeons to achieve complicated surgical procedures with reduced blood loss and decreased postoperative discomfort. It also reduces the chances of wound infections and offers faster and better wound healing. Thus, owing to the broad medical applications of lasers and their associated benefits, the market is expected to continue its growth during the forecast period.
At present, medical laser systems are prominently used in several medical applications, such as diagnostics, therapeutics, and surgical procedures—including dental, cosmetic, and ophthalmic. According to the United States Food and Drug Administration (FDA), these surgeries are further categorized for different applications.
- Cosmetic surgery: for removal of stretch marks, sunspots, wrinkles, tattoos, scars, birthmarks, spider veins or hair, and other aesthetic procedures such as breast and facial procedures
- Dental procedures: tooth whitening, oral surgery and endodontic/periodontic procedures
- Ophthalmic/refractive eye surgery: to reshape the cornea to improve vision using procedures—such as laser-assisted in situ keratomileusis (LASIK) or photorefractive keratectomy (PRK)—and cataract removal.
- General surgery: It includes medical surgical procedures that are used for removing tumors. The device is also used for minimally invasive surgery, lithotripsy and more.
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