According to P&S Intelligence, the North American region has emerged as the leader of the medical lasers market in the last few years due to the massive demand for cosmetic surgical procedures on account of the high prevalence of skin and other kinds of disorders, presence of leading medical device manufacturers, and existence of a favorable reimbursement scenario. For example, the Canadian Dermatology Association states that nearly 20% of the people live with acne and 1 million individuals suffer from psoriasis in Canada at any given time.
Australian Family Physician (AFP), a journal, estimates that acne vulgaris affects over 90% of the adolescents aged 16–18 years in Australia. Likewise, the American Academy of Dermatology (AAD) states that 85% of the Americans in the age group of 12–24 years are affected by acne. The association estimates that this condition affects up to 50 million Americans each year. Similarly, the NHS states that approximately 95% of the people aged 11–30 years are affected by acne in the U.K. annually.
The rising incidence of skin disorders is expected to propel the medical lasers market at a vigorous CAGR in the coming years. Cosmeticians are increasingly using them to treat pigmentation, remove hair, and facilitate skin resurfacing. As people become more conscious of their appearance, influenced strongly by social media and TV shows, the usage of lasers at dermatology and cosmetic surgery departments of hospitals and dedicated clinics around the world is rising.
In addition to dermatologists, solid-state, gas, dye, and diode laser systems are used for several applications in the ophthalmology, dentistry, cardiovascular, gynecology, urology, and many other departments, including oncology. Solid-state laser systems include alexandrite, erbium: yttrium–aluminum–garnet (Er:YAG), holmium: yttrium–aluminum–garnet (Ho:YAG), neodymium: yttrium–aluminum–garnet (Nd:YAG), potassium–titanyl phosphate, and ruby laser systems. Similarly, gas laser systems come in the argon, CO2, excimer, helium–neon, krypton, and metal vapor (copper and gold) variants.
Furthermore, the APAC region is expected to observe a large-scale adoption of medical lasers in the forthcoming years, owing to the mounting healthcare spending, surging public awareness about technologically improved laser treatments, soaring disposable income, increasing aging population, and growing medical tourism in regional nations. The Australian Institute of Health and Welfare (AIHW) reveals that $202.5 billion was spent on healthcare in Australia in 2019–2020. Similarly, the World Bank states that the per capita health expenditure of New Zealand surged from $3,940.390 in 2017 to $4,037.463 in 2018.
Thus, the growing burden of skin diseases will augment the use of medical lasers in the foreseeable future.
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