Top 7 Companies in the Medical Laser Systems Market: Key Drivers, Leading Players, and Recent Innovations
RELEASE DATE: Sep 2024 Author: Spherical Insights Request Free Sample
Introduction
Technological advancements, rising chronic disease rates, and the demand for less invasive treatments have led to significant growth in the medical laser systems market in the last ten years. Laser technology has transformed medical procedures across various fields such as dermatology and ophthalmology, providing accuracy, effectiveness, and shortened recuperation periods. In this blog post, we will examine the present condition of the medical laser systems industry, significant trends, and outlook for the future.
Market Overview
Global Medical Laser Systems Market Insights Forecasts to 2033
- The Global Medical Laser Systems Market Size was Valued at USD 4.6 Billion in 2023
- The Market Size is Growing at a CAGR of 13.20% from 2023 to 2033
- The Worldwide Medical Laser Systems Market Size is Expected to Reach USD 15.89 Billion by 2033
The report provides a summary of the global top trends and future prospects for the global medical laser systems market based on historical data sets (current trends, industry statistics, and emerging trends shaping the medical laser systems industry’s future, preliminary estimates from 2020-2021, 2022, and 2023), as well as projections for the global medical laser systems trends and future prospects for global regions in 2024 and 2025. This data-driven research offers users an industry-wide view of emerging technologies and innovative insights to help them make critical business decisions.
Key Trends Shaping the Market
1. Technological Advancements: Modern lasers have seen significant advancements, including new technologies like laser-induced fluorescence and advanced laser imaging methods. These advancements improve the precision of diagnoses and the effectiveness of treatments, broadening the range of uses in the field of medicine.
2. Minimally Invasive Procedures: Minimally invasive treatments are becoming more popular because they offer advantages such as less pain, faster recovery, and fewer complications. Lasers are being more commonly utilized in a variety of medical procedures, from eye operations to cancer therapy.
3. Cosmetic Dermatology: There is a growing demand for cosmetic procedures such as laser hair removal, skin resurfacing, and tattoo removal. This specific market segment is very active, as new laser technologies are constantly being developed to fulfill consumer demands.
4. Ophthalmology and Dentistry: The use of lasers in ophthalmology, especially for treatments such as LASIK and cataract surgery, is becoming increasingly prevalent. In the field of dentistry, lasers are also utilized for procedures like gum surgery and teeth whitening, leading to increased market expansion in these areas.
5. Regenerative Medicine: The adoption of lasers in regenerative medicine, such as tissue repair and wound healing, is increasing in popularity. Laser technologies are currently being advanced to boost tissue regeneration and enhance clinical results.
Driving Factors
1. Increase in the number of non-surgical cosmetic procedures
The area of cosmetic medicine is experiencing an increasing trend towards minimally invasive and non-surgical laser treatments, offering a convenient and less risky option compared to traditional surgery. Techniques like laser therapy and microdermabrasion are gaining more popularity due to their ability to provide natural-looking outcomes and address a range of cosmetic issues. One of the main benefits of these treatments is their short recovery time, enabling a speedy return to daily routines with minimal disruption. This characteristic adds to their popularity among various age demographics, also supported by their ease of use and ability to be personalized.
2. Rising Demand for Minimally Invasive Procedures to Foster Market Growth
The market's growth is being driven by the increasing popularity of minimally invasive procedures, the rise in cosmetic surgery procedures, and the growing incidence of eye disorders. Moreover, the rising occurrences of congenital heart diseases, coronary artery diseases, glaucoma, age-related macular edema, and other illnesses are expected to boost market expansion. In a report from The Aesthetic Society in 2021, it was revealed that there was a 55% increase in the number of skin treatment procedures using combination lasers, with 431,485 procedures performed in 2021 compared to approximately 278,310 in 2020.
3. Introduction of Technologically Advanced Aesthetic Lasers to Boost the Product Demand
Growing awareness about looks plays a role in motivating individuals worldwide to opt for minimally invasive cosmetic treatments. Furthermore, the rising trend of cosmetic procedures among different demographics and the rising interest of young people in skin concerns like wrinkles and pigmentation have led to a higher demand for quicker and gentler laser aesthetic treatments. This element is expected to boost the growth of the medical laser systems market by increasing the demand for aesthetic laser systems and consumables. The integration of innovative procedure-specific aesthetic laser systems is significantly appealing to women, prompting them to seek skin treatments for quicker outcomes in lesser time. The increasing need for laser treatments tailored to specific procedures is driving major market players to launch new energy-based aesthetic laser systems. For example, Quanta System and El.En. S.p.A. has managed to create a cutting-edge laser lithotripsy technology called UHPTDL, which stands for Ultra-High-Power Tunable Dual-Laser, with the broadest frequency range. The new option ensures quick and effective kidney stone dusting treatments.
4. Increasing number of eye disorders
The increasing prevalence of eye issues is predominantly driving the growth of the medical laser systems market. In February 2020, WHO estimated that around 2.2 billion people globally would experience either near-sightedness or farsightedness. At least 1 billion cases, about half of them, were related to vision loss that could have been prevented or left untreated.
5. Increase in long-term illnesses
The increase in rates of chronic diseases, significant gaps in disease epidemiology and cosmetic surgery demand, growing need for advanced medical laser systems, and rise in elderly population.
Opportunity
Growth of medical tourism
The fast expansion of medical tourism has become a notable prospect in the market. As international travel becomes easier and healthcare expenses increase in some areas, patients are more frequently searching for cost-effective and superior medical care in foreign countries. medical laser systems are essential in a variety of cosmetic and therapeutic treatments, from dermatology to ophthalmology. The increase in international patients has led to a high demand for state-of-the-art medical laser systems equipment in sought-after medical tourism spots. Hospitals in these places are investing in state-of-the-art laser technology to appeal to medical travelers looking for affordable care without sacrificing quality. The meeting point of medical tourism and the growing market offers an attractive chance for manufacturers and providers to serve an increasing global customer base.
Regional Insights
North America led the market with a revenue of USD 2.24 billion in 2023 and is expected to maintain its dominance throughout the forecast period. The main reasons for the region's domination are the increasing need for minimally invasive medical procedures, a strong preference for cosmetic treatments, and the rapid adoption of new technologies in the U.S. In 2022, approximately 23.7 million minimally invasive cosmetic procedures and 1.5 million surgical cosmetic procedures were carried out in the U.S., as reported by the American Society of Plastic Surgeons in 2023.
In 2023, Asia Pacific held the second biggest market share, with North America following closely behind. The Asia Pacific region is expected to experience rapid growth in the near future, fueled by the expansion of healthcare facilities and a rise in the number of laser treatment centers. Additionally, an expected increase in demand for aesthetic lasers due to a growing need for anti-aging treatments and more hair removal procedures is projected to boost market growth.
Latin America and the Middle East & Africa regions are projected to experience a substantial Compound Annual Growth Rate (CAGR) throughout the predicted period. Anticipated to boost segmental growth are increased healthcare spending, rising awareness of aesthetic and cosmetic procedures among the population.
1. TOPCON CORPORATION
Headquarters: Tokyo, Japan
Topcon Corporation is one of the leading medical laser systems companies in the field, holding approximately 10.0% of the worldwide market share. The company provides digital solutions worldwide, focusing primarily on infrastructure, healthcare, and agriculture. Topcon Healthcare is a top supplier of Ophthalmic medical devices and software solutions in the industry. The company's ophthalmic devices are used for diagnosing, examining, and treating various medical conditions such as cataracts, glaucoma, and retinal disorders. These devices are utilized to attain precise refraction, showcasing their proficiency in optomechatronics and optics technology.
2. Alma Lasers (Sisram Medical Ltd)
Sisram Medical Ltd.'s subsidiary, Alma Lasers, is a leading provider of lasers, radio-frequency, ultrasound, and light-based solutions for aesthetic and surgical needs. Alma Lasers is the world's second-biggest company currently involved in the global market. The company made USD 359.3 million in revenue in 2023. The company's aesthetic department offers minimally invasive and non-invasive lasers for wrinkle reduction, skin resurfacing, tattoo removal, acne scar treatment, vitiligo, and psoriasis. Furthermore, the company possesses a robust distribution system spanning 90 countries worldwide.
3. El.En. S.p.A.
El.En. is an abbreviation for the company Electrónica En. S.p.A. ranks third among global medical laser systems industry providers, specializing in medical laser systemss. In the global market, the company also made $692.3 million in revenue in 2023. The company El.En. S.p.A. is a top developer and manufacturer of laser systems for industrial, conservation, and medical sectors, making it one of the leading medical laser systems Companies. The company has a broad range of products in the medical laser systems field, with various uses in areas such as cosmetics, dentistry, dermatology, physiotherapy, and gynecology treatments. The lasers made by El.En. S.p.A. provides products to over 80 countries and maintains direct sales operations in countries such as Japan, Germany, the U.S., and France. The company manufactures various products such as Ecolaser EVO, Ecolaser, NanoStar, VascuSatr, among others.
4. LUMIBIRD
Lumibird ranks as the fourth largest manufacturer of medical laser systems worldwide. In 2023, the company also made a revenue of 220.3 million. The company designs and manufactures laser technologies for industrial, scientific, and medical use and is a top leader in the field. The firm primarily functions in two divisions, namely pharmaceuticals and photonics, and boasts a varied range of eye laser products in its portfolio. The company was formed following the merger of its subsidiaries, which were Ellex, Quantel Medical, and Optotek. The company operates in 110 countries and has three manufacturing facilities in Slovenia, Australia, and France.
5. BIOLASE, Inc
BIOLASE, Inc. holds the fifth position in the market. BIOLASE, Inc. has earned approximately $49.2 million in revenue from 2023. The company also offers dental laser systems for restorative, cosmetic, and surgical uses. The company also offers dental laser products in two categories: diode soft-tissue laser systems and waterlase all-tissue laser systems. The company has established a solid presence in more than 80 countries worldwide and has also developed brand recognition in Canada, Europe, and the United States.
Recent Developments
- In March 2024, Soprano Titanium was unveiled by Alma Lasers (Sisram Medical Ltd). Soprano Titanium offers painless laser hair removal treatment along with gentle and effective skincare options, suitable for all skin types.
- In June 2023 - El.En. S.p.A., a company owned by Elesta, presented the clinical study findings for EchoLaser in TPLA at the American Urological Association conference in New Orleans. It has been demonstrated that these latest devices are safe for the treatment of BPH (Benign Prostatic Hyperplasia).
- In June 2023, LUMIBIRD unveiled the Tango Neo and UltraQ Reflex Neo by Ellex, new Nd:YAG/SLT lasers designed for treating glaucoma and anterior-segment YAG.
- In December 2023, BIOLASE, Inc. successfully finished the trial program for the Waterlase iPlus All Tissue laser, involving 6 American dentists. Based on the trial findings, every dentist was extremely pleased with the laser's performance and eager to recommend it to others.
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