CO2 Medical Laser Systems Global Market Report 2023: Growing Demand for Cosmetic Dentistry and Aesthetic Procedures Bolsters Sector - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "CO2 Medical Laser Systems Market by Type, by Application, by End User, and by Region - Global Forecast to 2022-2033" report has been added to ResearchAndMarkets.com's offering.
The CO2 medical laser systems market size is estimated to be USD 542.1 million in 2022 and is expected to witness a CAGR of 10.24% during the forecast period 2023-2033.
Increasing healthcare spending, growing demand for cosmetic dentistry and improved aesthetic appearance, and adoption of technological advancements are other factors supporting the market growth.
Furthermore, increasing prevalence of CO2 laser in surgeries and rising prevalence of chronic diseases including cardiovascular and respiratory diseases are some of the factors contributing to the market growth. However, high cost is expected to hinder the growth.
Rising healthcare spending is predicted to propel the market growth during the forecast period. Items used in the medical sector must adhere to strict dimensional tolerances and the highest possible quality requirements. As laser cutting produces finished goods that are dross- and residue-free and meets the standards for high-quality, clean surfaces in the medical industry, it is a widely used technique. Stents, heart valves, and other medical equipment are frequently made using CO2 lasers.
For instance, as per the World Health Organization, cardiovascular disease is foremost cause of death globally, and estimated 17.9 million people die annually from cardiovascular diseases (CVD) than from any other cause. The number of CVD-related preventive and therapeutic procedures has increased recently, which has boosted demand for CO2 laser cutting equipment. Moreover, the use of lasers for cutting is found in the fields of plaster cutting and needle profiling, where contact-free laser technology enables easy cutting of on-radial cut geometries.
Increasing prevalence of CO2 laser in surgeries is expected to fuel the market growth during the forecast period. The CO2 laser has been utilised as an incision tool in a number of surgeries, including dermatology, neurology, plastic surgery, gynaecology, and ophthalmology.
The US Food and Drug Administration (FDA) granted CO2 laser approval in1984, paving the way for more widespread use in the healthcare sector. In both medical and cosmetic procedures, the use of CO2 lasers is recommended since it results in less bleeding, less pain, and a considerably lower chance of infection.
CO2 lasers are in-demand for aesthetic procedures such skin lesion removal and anti-aging treatments. For instance, according to American Society of Plastic Surgeons, in 2020, a total of 2,314,720 cosmetic surgical procedure which include mastopexy, liposuction, blepharoplasty, rhytidectomy and many more were performed in United States.
The market is categorised into dental lasers, surgical lasers, and aesthetic lasers.
The surgical laser segment expected to grow at a highest share during the forecast period. Growing adoption of minimally invasive procedures, increased awareness of the availability of surgeries, prevalent chronic diseases, and prevalent ophthalmic diseases are all factors that have contributed to the growth of the medical lasers market. The surgical laser segment will continue to grow as a result of all of these factors. Additionally, the aesthetic laser segment is predicted to grow at fastest CAGR during the forecast period due to its minimally invasiveness and quick recovery, cosmetic laser procedures are becoming more popular. The market for dental laser treatments is also anticipated to expand well over the projected period due to rising public awareness of oral hygiene and the prevalence of dental diseases.
The market is segmented into dermatology, ophthalmology, urology, gynaecology, dentistry.
In the global market, the dermatology segment accounted for the largest revenue share in 2022 owing to increase in skin infections and diseases. For instance, as per an article published by National Library of Medicine, in July 2022, in around 30% to 70% of the population is affected by skin conditions every year. Moreover, 20% of children have skin-related diseases and suffer from atopic eczema. Additionally, the Gynaecology segment is accounted for fastest CAGR during the forecast period due to rise in polycystic ovary syndrome (PCOS) which is one of the most common conditions affecting women worldwide. For instance, in November 2022, according to National Centre for Biotechnology Information (NCBI) article, PCOS affects 4% to 20% of women of reproductive age.
By End User
The market is segmented into specialty clinics, hospital and ambulatory surgical centres.
In 2022, the specialty clinics segment accounted for the largest revenue share owing to greater demand for aesthetics and an increase in per capita income. The number of specialist clinics wholly dedicated to various laser-related surgeries is increasing. Additionally, the hospital segment is anticipated to have the fastest CAGR over the projected period due to advancement in hospital infrastructure and improving the health care conditions.
In 2022, North America region accounted for the highest revenue in the CO2 medical laser market during the forecast period. The increased prevalence of chronic conditions like obesity and diabetes, as well as the US's strong predilection for cosmetic surgery and minimally invasive medical procedures, are all to blame for this. The cost of cosmetic surgery in the US was close to $20 billion. Additionally, Asia-Pacific is expected to grow at fastest CAGR during the forecast period owing to unmet medical treatment needs, expansion of the healthcare system, and rise in the number of laser clinics in developing countries including India and China.
Key Topics Covered:
1. Research Methodology
2. Introduction: Co2 Medical Laser
3. Executive Summary
4. Market Dynamics
5. Market Environment Analysis
6. COVID-19 Impact Analysis: Co2 Medical Laser Market
7. Market Analysis by Type
8. Market Analysis by Application
9. Market Analysis by End User
10 North America Co2 Medical Laser market
11. Europe Co2 Medical Laser market
12. Asia PacificCo2 Medical Laser Market
13. Latin America Co2 Medical Laser market
14. MEACo2 Medical Laser Market
15. Competitor Analysis
16. Company Profiles
17. Conclusion & Recommendations
A selection of companies mentioned in this report includes
- American Medical Systems Inc
- Photomedex Inc
- Alcon Laboratories Inc
- Novadaq Technologies Inc
- Biolase Inc
- Cardiogenesis Corporation Inc
- AngioDynamics Corp.
- Lumenis Ltd.
- IRIDEX Corp.
- Spectranetics Corporation
- Bausch & Lomb Holdings
For more information about this report visit https://www.researchandmarkets.com/r/exn4xc
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