June 15, 2017
Wellesley, Mass., Jun 15, 2017 – Surgical procedures and emerging medical uses of lasers are fueling the industry for medical laser devices, that will see this industry post CAGR of 15.3% through 2022, according to BCC Research report, Global Markets and Technologies for Medical Lasers. Despite economic slowdowns that can affect cosmetic or elective procedures, demand in the U.S. and Canada is strong, nearly half of the global market for medical lasers. Overall, sales are targeted to reach $11.5 billion in the next five years.
BCC Research found that diagnostic use is growing more quickly, a predicted CAGR of nearly 18 percent, in this update of a 2014 report. Therapeutic use is forecast to grow by about 14 % and reach $7.4 billion in sales by 2022. Opthalmology is the largest end user segment in medical laser sales, but dental surgery use of the devices is growing quickly, veterinary medicine and cosmetic surgeries also are increasing.
"Another factor in the United States is uncertainty related to healthcare insurance and the rising costs of medical care for an aging population. People may think of this for tattoo removal and cosmetic procedures but there are medical gains such as reducing post-surgical bleeding and targeting specific areas of the body for treatments. Medical laser technology is evolving, adding to the growth story,” says Robert G. Hunter, senior healthcare editor at BCC Research.
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Global Markets and Technologies for Medical Lasers( HLC072D )
Publish Date: Jun 2017
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