Laser is a medical treatment involving an intense beam of light to burn, cut, and destroy body tissue. Light amplification by Stimulated Emission (LASER) is common in many medical procedures. The earliest of this technology were in dermatology and ophthalmology. A medical laser is an intensive light and a non-invasive process of treating tissue and providing quick healing without discoloration or scarring. The intensifying need for non-invasive medical treatment has propelled the market growth.
Statistics by the American Society of Aesthetic Surgery ASAPS) shows that Americans spend over 13 Billion Dollars on various aesthetic treatments, including acne prevention, dermal resurfacing, body contouring, and others.
Refractive surgery council reported that laser vision correction procedures increased by 6.2% from 2017 to 2020, with close to 900,000 procedures performed. In dermatology and skincare areas, the focuses shifted from the conventional to advanced methods of treatment. There is now high adoption of non-invasive skin lighting, anti-aging, and other treatment options with an anticipated upsurge. Most people who have eye disorders now prefer more non-invasive methods, and laser becomes the proffered option.
Rising demand for minimally non-invasive procedures
There’s a growing number of minimally invasive procedures and cosmetic surgery. The rising number of eye disorders is the leading promoters of the medical laser market. There are also increased congenital heart conditions, glaucoma, and age-related macular edema, with other diseases expected to fuel the demand. Lumens laser hair removal system, for instance, was introduced in 2018, and it’s a solid -state laser system which is equipped with BLEND X technology for effective skin and hair removal solutions.
Some of the laser market’s major boosters are introducing medical lasers with procedure-specific applications with perfect integration of innovative technology. New market players have also emerged, and these are offering innovative systems. This is what propels the growth of this market.
Aesthetic lasers to boost product demand
People are now adopting minimally invasive medical procedures because of the increased consciousness on physical appearance. This demand is surging the need for this less time consuming laser aesthetic procedure. This demand for laser is likely to continue and thus driving the market. The female population has benefited majorly from this advancement in technology. The growing demand for laser technology is has compelled vital market players to introduce novel energy-based systems.
High cost and side-effects a challenge to laser technology growth.
The growth of laser technology has experienced limited adoption in both the developed and emerging markets. For instance, the average cost of Laser surgery per eye was USD2, 246 in the year 2018 and continues to rise. Some complications come with the surgery, like koebnerization scarring and dyschromia. Such are limiting the growth of the medical lasers market.
Procedure specific laser systems are also costly, especially in the emerging economies. This has limited the uptake in most countries.
There’s a rising demand for minimally invasive procedures with new and procedure-specific products launched by key market players. The procedure requires that you choose the laser trader you can trust and one with great experience in the industry.