The medical laser systems market in North America is expected to grow from US$ 919.72 million in 2021 to US$ 2,257.13 million by 2028; it is estimated to grow at a CAGR of 13.7% from 2021 to 2028.
Economies such as the US and Canada are witnessing considerable modernization of healthcare facilities and improvements in healthcare services. With this, the life expectancy of people in these countries has increased, leading to an expansion in their geriatric population base. Furthermore, a report by the US Census Bureau states that the number of people in the US aged 65 and above is anticipated to grow from 46 million in 2016 to more than 98 million by 2060. Their population share is anticipated to surge from ~15% to ~24% during this period. Ophthalmic diseases constitute a significant share of health problems among older people. Age-related macular degeneration resulting in loss of central vision, glaucoma, retinal detachment, cataracts, and diabetic retinopathy are among the most common ophthalmic diseases among the geriatric population. Diabetic retinopathy is also common among older people during the early stages of diabetes or at the time of the diagnosis. A mydriatic examination is recommended when a patient is diagnosed with diabetes and once a year after that. According to the American Institute of Ophthalmology, almost 24.4 million people under the age of 40 undergo cataract surgery, and nearly half of all Americans undergo cataract surgery by the age of 75. Furthermore, glaucoma cases are on the rise. Over 2.7 million Americans over the age of 40 are affected. New eye diseases, such as age-related macular degeneration, which affects over 2.1 million Americans over 50, can cause serious vision loss. By the age of 80, the number rises to 10 Americans. So, there is a potential for the adoption of new technology, such as femtosecond lasers, in cataract surgery, which involves a large upfront investment but promises to improve patient outcomes. All these factors are driving the medical laser systems market
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North America Medical Laser Systems Strategic Insights
Strategic insights for the North America Medical Laser Systems provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
Alcon Inc
Artivion, Inc.
Bausch Health Companies Inc.
BIOLASE, Inc.
Boston Scientific Corporation
Candela Medical
Ellex
Iridex Corporation
Koninklijke Philips N.V.
Lumenis Be Ltd.
North America Medical Laser Systems Regional Insights
The geographic scope of the North America Medical Laser Systems refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
North America Medical Laser Systems Market Segmentation
The North America medical laser systems market is segmented based on product type, application, end user, and country. Based on product type,the market has been segmented into diode lasers, solid state lasers, gas lasers, fiber lasers and dye lasers. In 2020, the solid state lasers segment held the largest share of the market. The solid state lasers segment is subsegmented into holmium yttrium aluminum garnet (Ho:Yag) lasers, erbium yttrium aluminum garnet (Er:Yag) lasers, neodynium yttrium aluminum garnet (Nd:Yag) lasers, thulium:yttrium-aluminum-garnet laser (Tm:YAG), potassium titanyl phosphate (KTP), alexandrite lasers, and ruby lasers. In 2020, the erbium yttrium aluminum garnet (Er:Yag) lasers segment held the largest share. Based on gas lasers, the market is subsegmented into CO2 laser, argon laser, krypton laser, metal vapor laser, helium neon laser, and excimer laser. In 2020, the CO2 laser segment held the largest share. Based on fiber lasers, the market is subsegmented into thulium fiber lasers, erbium fiber lasers, and ytterbium fiber lasers. In 2020, the thulium fiber lasers segment held the largest share. Based on application, the market has been segmented into dermatology, ophthalmology, gynecology, dentistry, cardiology, urology, and others. In 2020, the dermatology segment held the largest market share. Based on end user, the market is segmented into hospitals, specialty clinics, ambulatory surgery centers, and others. In 2020, the specialty clinics segment held the largest market share. Similarly, based on country, the market is segmented into the US, Canada, and Mexico. The US contributed a substantial share in 2020.
Alcon Inc; Artivion, Inc.; Bausch Health Companies Inc.; BIOLASE, Inc.; Boston Scientific Corporation; Candela Medical; Ellex; Iridex Corporation; Koninklijke Philips N.V.; and Lumenis Be Ltd. are among the leading companies operating in the North America medical laser systems market.
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