Solid State Lasers Segment to Lead North America Medical Laser Systems Market from 2021 to 2028
A recent market research report titled “North America Medical Laser Systems Market to 2028 – COVID-19 Impact and Regional Analysis by Product Type, Application, End User, and Country” forecasts that the market will grow from US 919.72 million in 2021 to US 919.72 million in 2021 to US 2,257.13 million by 2028, achieving a compound annual growth rate (CAGR) of 13.7% during the forecast period. The primary driver of this growth is the significant increase in the elderly population, which is boosting demand for advanced medical laser systems. However, stringent safety regulations may pose challenges to market expansion. The report highlights key trends, drivers, and restraints influencing the North America medical laser systems market.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 – https://www.businessmarketinsights.com/sample/TIPRE00027259
Market Segmentation and Key Insights
The North America medical laser systems market is segmented by product type, application, end user, and country.
By Product Type:
- Diode Lasers
- Solid State Lasers
- Sub-segments:
- Holmium Yttrium Aluminum Garnet (Ho:YAG) Lasers
- Erbium Yttrium Aluminum Garnet (Er:YAG) Lasers
- Neodymium Yttrium Aluminum Garnet (Nd:YAG) Lasers
- Thulium:Yttrium-Aluminum-Garnet Laser (Tm:YAG)
- Potassium Titanyl Phosphate (KTP)
- Alexandrite Lasers
- Ruby Lasers
- In 2020, the Erbium Yttrium Aluminum Garnet (Er:YAG) Lasers segment dominated the market.
- Sub-segments:
- Gas Lasers
- Sub-segments:
- CO2 Lasers
- Argon Lasers
- Krypton Lasers
- Metal Vapor Lasers
- Helium Neon Lasers
- Excimer Lasers
- In 2020, the CO2 Lasers segment held the largest market share.
- Sub-segments:
- Fiber Lasers
- Sub-segments:
- Thulium Fiber Lasers
- Erbium Fiber Lasers
- Ytterbium Fiber Lasers
- In 2020, the Thulium Fiber Lasers segment led the market.
- Sub-segments:
- Dye Lasers
By Application:
- Dermatology
- Ophthalmology
- Gynecology
- Dentistry
- Cardiology
- Urology
- Others
In 2020, the dermatology segment accounted for the largest market share.
By End User:
- Hospitals
- Specialty Clinics
- Ambulatory Surgery Centers
- Others
In 2020, specialty clinics held the largest share of the market.
By Country:
- United States
- Canada
- Mexico
In 2020, the United States contributed the most significant share to the market.
Competitive Landscape
Key players in the North America medical laser systems market include Alcon Inc., Artivion, Inc., Bausch Health Companies Inc., BIOLASE, Inc., Boston Scientific Corporation, Candela Medical, Ellex, Iridex Corporation, Koninklijke Philips N.V., and Lumenis Be Ltd. These companies are focusing on organic growth strategies such as product launches and expansions to strengthen their market position.
For example, in 2022, CryoLife, Inc. rebranded itself as Artivion, Inc., reflecting its strategic shift toward providing innovative technologies for aortic disease treatment. The company also changed its NYSE ticker symbol to “AORT” from “CRY” to align with its new focus.
Market Drivers and Restraints
Drivers:
- Aging Population: The growing elderly population in North America is driving demand for medical laser systems, particularly in applications like dermatology, ophthalmology, and urology.
- Technological Advancements: Continuous innovations in laser technology, such as improved precision and reduced recovery times, are enhancing adoption rates.
Restraints:
- Stringent Safety Regulations: Compliance with rigorous safety standards and regulatory requirements may slow down market growth.
- High Costs: The high cost of medical laser systems and procedures could limit accessibility for some end users.
Future Outlook
The North America Medical Laser Systems Market is poised for robust growth, driven by the increasing prevalence of chronic diseases, rising demand for minimally invasive procedures, and advancements in laser technology. The solid state lasers segment, particularly Er:YAG lasers, is expected to maintain its dominance due to its wide range of medical applications and superior performance characteristics. Additionally, the dermatology and specialty clinics segments are anticipated to remain key contributors to market revenue.
As companies continue to innovate and expand their product portfolios, the market is likely to witness further consolidation and strategic partnerships, ensuring sustained growth over the forecast period.
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications Author’s Bio:
Akshay
Senior Market Research Expert at Business Market Insights
