Global Medical Lasers Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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The global medical lasers market is expected to decline from $5.22 billion in 2019 to $4.99 billion in 2020 at a compound annual growth rate (CAGR) of -4.33%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $6.92 billion in 2023 at a CAGR of 11.52%. The increased demand for minimally invasive procedures contributed to the medical lasers market’s growth during the period.
The medical lasers market consists of sales of medical lasers and related services by entities (organizations, sole traders, and partnerships) that manufacture medical lasers. Medical lasers are devices that treat or remove tissues using precisely focused light sources. Medical lasers find their applications in several surgical procedures including eye surgery, cosmetic surgery, dental procedures, and other general procedures.
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The Global Medical Lasers Market is further segmented based on product type, application and geography.
By Product Type: Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, Diode Laser Systems.
By Application: Surgical, Cosmetic, Dental.
By Geography: The global medical lasers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American medical lasers market was the largest region in the global medical lasers market 2019.
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Trends In The Medical Lasers Market
Major players operating in the market are focusing on developing new innovative products with advanced techniques in order to serve the healthcare professionals and their patients better. Mergers and Acquisition of companies will help in focusing on strengthening the portfolio for diagnostic devices including ultrasound and laser products.
Medical Lasers Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides medical lasers market overviews, analyzes and forecasts market size and growth for the global medical lasers market, medical lasers market share, medical lasers market players, medical lasers market segments and geographies, medical lasers market’s leading competitors’ revenues, profiles and market shares. The medical lasers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.