The development of cosmetic plastic surgery has further promoted the development of cosmetic medical devices in medical equipment, and major laser medical aesthetic companies around the world are developing extremely fast and the output value is increasing rapidly. In the next few years, it is believed that laser cosmetic medical devices will develop rapidly in a more brand new manner.

Global laser treatment market overview.

1、Market situation analysis

The main driving factor for the global laser treatment market is the growth in demand for cosmetic surgery. The American Society of Plastic Surgery estimates that 1.8 million cosmetic procedures as well as 15.5 million minimally invasive cosmetic procedures were performed in 2016 alone. Other market driving factors include rising aging population, increasing complications of age-related eye diseases, popularity of laser treatment clinics, and others.

Considering all these factors, the global laser therapy market is expected to reach USD 9.97 billion by the end of 2023, with the market growing at a CAGR of 12.2% during 2017-2023.

2, Global Medical Laser Systems Market Forecast

The global medical laser systems market reached $4.9 billion in 2014. With the increasing demand for non-invasive aesthetic plastic surgery and growing awareness about the safety of these procedures, coupled with technological advancements, among others, will drive the growth of this industry.

In addition, with increasing ophthalmic disorders, rising aesthetic requirements and growing applications in obstetrics and gynecology are expected to drive the industry in the coming years. However, the risks associated with these procedures, such as infection, scarring, bleeding, and skin tone changes, are expected to be restraining factors that will hinder the growth rate of the industry.

According to a survey conducted by the American Society for Aesthetic Plastic Surgery (ASAPS), the U.S. population spends more than $13 billion on aesthetic treatments such as body contouring, acne prevention, and skin surface reconstruction. The demand for these applications is expected to further drive the global medical laser systems market during the forecast period.

3、Medical laser system products and market size

Major products in the laser medical systems market include diode, solid-state, gas, and dye lasers. Diode lasers, which accounted for the largest market share in 2014, are also expected to hold a dominant market position in the coming years due to their different applications in cosmetic procedures as well as in photodynamic therapy.

The solid-state laser market is expected to grow at a CAGR of more than 12.0% over the next five years due to high utilization in the dermatology segment. The segment is further segmented into carbon dioxide, argon, krypton, metal vapor, helium-neon, and excimer lasers, which are widely used in areas such as periodontology, tattoo removal, skin treatment, and varicose vein removal treatment.

4、Application Prospects

Based on application, the medical laser systems market is segmented into ophthalmology, gynecology, dermatology, urology, dentistry, and cardiology. Dermatology dominates the medical laser systems market due to the increase in demand for aesthetics.

Increasing level of patient awareness, popularity of minimally invasive and non-invasive treatments, and growing demand for aesthetic applications (such as skin tightening, skin rejuvenation, and slimming and sculpting) are also expected to be a huge driver for the growth of this market. Moreover, the incidence of skin cancer and other skin diseases such as acne, dermatitis, psoriasis, and skin warts, moles, and skin damage, especially in emerging market countries, is expected to provide significant opportunities for the future growth of the medical laser market.

Medical laser products offer unique applications for the gynecology field; the gynecology field is expected to be a major driver of further growth in the medical laser systems market over the next five years. At the same time, the system is also widely used in gynecological abdominal surgery, thus further driving the demand for this market as well.

The use of laser medical systems in ophthalmology is also expected to continue to grow in the coming years due to the rapid replacement of non-laser instruments such as cataract, refractive surgery and other surgical blades.

The development of aesthetic plastic surgery has further contributed to the development of aesthetic medical devices among medical devices, and major global laser medical aesthetic companies are growing extremely fast and their output value is increasing rapidly. In the coming years, it is believed that laser cosmetic medical devices will develop rapidly in an even newer manner.

5、Global laser medical system market segmentation

The largest region of the global largest laser medical system market in 2014 was the North American market, with a revenue share of more than 35%. Increasing demand for cosmetic procedures and higher disposable income and healthcare expenditure of patients are the major factors contributing to the growth of this market. Further, technological advancements and higher investment in R&D in North America are expected to further drive the growth of this market in the next five years.

However, untapped market opportunities in Asia-Pacific countries are also likely to further drive the global laser medical systems market. More companies in Asia Pacific are taking strategic expansion initiatives in this sector due to lower labor and manufacturing costs, as well as accelerated adaptation of technological advancements, which will also bring strong growth momentum to the region in the next five years.