North America Medical Laser Systems MarketTrends, Size, Segment and Growth by Forecast to 2030

The Medical Laser Systemsin North America is projected to grow from US$ 919.72 million in 2021 to US$ 2,257.13 million by 2028, at a compound annual growth rate (CAGR) of 13.7% during the forecast period.

The healthcare sectors in countries like the US and Canada are undergoing significant modernization, leading to improved healthcare infrastructure and services. This development has contributed to a rise in life expectancy, consequently expanding the geriatric population base. According to the US Census Bureau, the number of people in the US aged 65 and older is expected to increase from 46 million in 2016 to over 98 million by 2060. Their share of the total population is projected to grow from approximately 15% to nearly 24% during this period.

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Ophthalmic diseases constitute a major portion of health concerns among the elderly. Conditions such as age-related macular degeneration, glaucoma, retinal detachment, cataracts, and diabetic retinopathy are prevalent among older adults. Diabetic retinopathy, for instance, often manifests in the early stages of diabetes or around the time of diagnosis. The American Academy of Ophthalmology recommends a mydriatic eye examination at the time of diabetes diagnosis and annually thereafter.

Cataracts are also widespread, with about 24.4 million Americans under the age of 40 undergoing cataract surgery. By the age of 75, nearly half of all Americans have had cataract surgery. Glaucoma, another common condition, affects over 2.7 million Americans aged 40 and older. Age-related macular degeneration affects more than 2.1 million Americans over the age of 50, and this number rises significantly with age.

These growing cases highlight the need for advanced treatment options, such as femtosecond lasers in cataract surgery. Although these technologies require substantial initial investments, they offer improved precision and patient outcomes.

Altogether, the rising geriatric population, increasing prevalence of ophthalmic conditions, and the demand for advanced surgical technologies are key drivers fueling the growth of the medical laser systems market in North America.

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.

North America Medical Laser Systems Report Scope

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. 

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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights