What are the Factors Driving Growth in Medical Laser Industry?

The factors driving the market expansion are the burgeoning requirement for medical lasers for treating various diseases, mushrooming demand for non-invasive treatments, and increasing number of aesthetic procedures.?

Additionally, the rapid technological advancements being made in laser are also fueling its popularity in the medical industry. These advancements in the laser technology have fueled various benefits such as reduction in pain intensity, quick recovery after cosmetic or surgical procedures, and small incisions. Moreover, due to these innovations and advancements, the application of laser in several cosmetic treatments such as skin rejuvenation, body contouring, and hair removal has increased massively.?

In addition, the advent of small hand-held diode lasers has made laser devices very advanced. Besides these factors, the growing incidence of skin and chronic diseases and the surging population of geriatric people in several countries are also driving the growth of the medical lasers market. As old age causes the loss of fibrous tissue and reduced glandular and vascular network in skin layers, geriatric people are highly vulnerable to pigmentary alteration, skin sagging, wrinkles, and dryness.

Developing nations such as China and India are predicted to have a larger population of ageing people than the developed ones such as the U.S. in the coming years. As per the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged above 60 years in India, China, Brazil, and the U.S. will be 324 million, 437 million, 58 million, and 107 million, respectively, by 2050.

Depending on product, the medical lasers market is divided into dye laser systems, diode laser systems, gas laser systems, and solid-state laser systems categories. Amongst these, the diode laser systems category will exhibit the fastest growth in the market in the coming years. The solid-state laser systems category is further divided into neodymium: yttrium-aluminum-garnet laser (Nd:YAG) systems, erbium: yttrium-aluminum-garnet laser (Er:YAG) systems, holmium: yttrium- aluminum-garnet laser (Ho:YAG) systems, potassium titanyl phosphate laser systems, ruby laser systems, and alexandrite lase systems.

Out of these, the Nd:YAG systems sub-category contributed huge revenue to the market in the past years. Across the globe, the medical lasers market is predicted to demonstrate the highest growth rate in the Asia-Pacific (APAC) region in the forthcoming years. This is credited to the surging healthcare expenditure, flourishing medical tourism industry, soaring popularity of cosmetic treatments, and the growing public awareness about technologically advanced laser treatments in the region.