The global medical lasers market will witness considerable growth due to growing applications of medical lasers in surgical procedures. According to a report published by Fortune Business Insights, titled “Medical Lasers: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 3,778.9 Mn in 2018. Fortune Business Insights has predicted that the market will reach US$ 12,327.8 Mn by 2026, thereby exhibiting a CAGR of 15.9%.
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- En. S.p.A.,
- Ellex Medical Lasers Ltd.,
- BIOLASE, Inc.,
- Sisram Medical Ltd.,
- IRIDEX Corporation,
- CANDELA CORPORATION,
- Topcon Corporation.
The ability of medical lasers to treat damaged or targeted tissues, through a minimally invasive procedure, has led to a huge demand across the world. Medical lasers possess the ability to diagnose and treat several diseases, which in turn will lead to a rising adoption across the world. The use of laser radiation comes with certain challenges; recent scientific advancements will favor the growth of the global medical lasers market in the forthcoming years. Resulting from the high demand, there have been numerous technological advancements in the manufacture of these equipment and this, according to Fortune Business Insights will constitute an increase in the global medical lasers market value in the forthcoming years. Growing applications of medical lasers have led to numerous clinical trials, which in turn has aided the growth of the global medical lasers market in recent years. The report focuses on several factors that have accounted for the growth of the global medical lasers market in the coming years.
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Increasing Product Launches Will Prove Chief Growth Driver
The rising adoption of medical lasers across diverse applications has encouraged companies to come adopt standout business strategies. Due to the presence of several medical lasers market companies, it is becoming difficult to establish a strong presence without product differentiation and this has sparked several product innovations. The report highlights a few of the noteworthy medical lasers market products that have contributed significant growth of the market in recent years. In May 2018, OmniGuide Surgical announced the launch of a new medical laser system, aimed at initiating enhanced surgical procedures. The company announced the commercial release of its C-LAS line of the Sight CO2 laser system. Fortune Business Insights predicts that this product will help OmniGuide generate a substantial medical lasers market revenue. Additionally, Fortune Business Insights states that OmniGuide’s latest product will have a positive impact on the growth of the global medical lasers market in the forthcoming years.
Backed by Exceptional Product Portfolios, El.En. S.p.A., Lumenis, and Ellex Medical Lasers Ltd., Dominated the Market in 2018
The global medical lasers market is semi-consolidated in nature. Three of the leading medical lasers market companies have accounted for maximum share of the global medical lasers market. Accounting to their strong market presence, combined with a renowned market brand, El.En. S.p.A., Lumenis, and Ellex Medical Lasers Ltd., dominated the global medical lasers market in 2018. Having said that, increasing efforts put in by other medical lasers market companies have showcased massive potential and consolidation is likely to be diminished in the coming years.
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