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Increasing Applications of Lasers in Medical Devices and Surgeries Bolsters Growth

Increasing Applications of Lasers in Medical Devices and Surgeries Bolsters Growth

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Global Laser Processing Market

Global Laser Processing Market

Global Laser Processing Market

Dublin, March 24, 2023 (GLOBE NEWSWIRE) — The “Laser Processing Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.

The global laser processing market grew from $16.57 billion in 2022 to $18.46 billion in 2023 at a compound annual growth rate (CAGR) of 11.4{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f}. The laser processing market is expected to grow to $26.69 billion in 2027 at a CAGR of 9.7{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f}.

Asia-Pacific was the largest region in the laser processing market in 2022, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the laser processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing applications of lasers in medical devices and surgeries are significantly contributing to the growth of the laser processing market. Medical lasers are utilized in medical procedures in various specialties, including ophthalmology, dermatology, plastic surgery, and dental surgeries, as well as in intraabdominal, cardiothoracic, neurologic, gynecologic, and urologic procedures. Lasers facilitate a source of focused, coherent light capable of transmitting intense energy to a precise location.

For instance, in 2022, according to a report published by Biospace, a leading online source for biotechnology jobs, cataract statistics in the U.K., 330,000 cataract operations are conducted every year in the country. Moreover, 30{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} of people aged 65 years and above are expected to have a cataract in one or both eyes. In 2020, in the U.S., around 718,000 surgeries are projected to be performed. In Europe, around 757,000 laser eye surgeries are likely to be performed by 2020. Therefore, the increasing usage of laser in medical devices and surgeries is expected to boost the demand for laser processing solutions during the forecast period.

Technological advancements are a key trend gaining popularity in the laser processing market. Many companies operating in laser processing are developing new products or new technologies to meet industry demand and strengthen their market position across the globe. For instance, in September 2021, TRUMPF, a German-based industrial machine manufacturing company launched 2D laser cutting machine, TruLaser 1000 which guaranteed up to 70{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} feed rate and with its effective cooling, it produces with high processing quality. Due to its ease of use and a wide variety of materials, it is ideal for beginners and companies who want to increase their production capacity.

In 2022, TRUMPF, a German-based industrial machinery manufacturing company acquired an 80{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} stake in Active Fiber Systems GmbH (AFS) for an undisclosed amount. With this acquisition, TRUMPF can leverage AFS’s laser systems to generate extremely short-wavelength light with high coherence, as well as for biomedical imaging and materials processing. Active Fiber Systems GmbH German-based manufacturer of ultrashort-pulse laser systems and fiber laser systems for science and research applications.

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  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Scope
Markets Covered:

1) By Type: Gas Laser; Liquid Laser; Solid Laser; Other Types
2) By Application: Cutting; Welding; Drilling; Microprocessing; Marking and Engraving; Other Applications
3) By End-Use Industry: Aerospace and Defense; Automotive; Healthcare; Machine Tools; Architecture; Electronics and Microelectronics; Other End User Industries

Key Attributes:

Report Attribute

Details

No. of Pages

200

Forecast Period

2023 – 2027

Estimated Market Value (USD) in 2023

$18.46 billion

Forecasted Market Value (USD) by 2027

$26.69 billion

Compound Annual Growth Rate

9.7{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f}

Regions Covered

Global

Key Topics Covered:

1. Executive Summary

2. Laser Processing Market Characteristics

3. Laser Processing Market Trends And Strategies

4. Laser Processing Market – Macro Economic Scenario

5. Laser Processing Market Size And Growth

6. Laser Processing Market Segmentation

7. Laser Processing Market Regional And Country Analysis

8. Asia-Pacific Laser Processing Market

9. China Laser Processing Market

10. India Laser Processing Market

11. Japan Laser Processing Market

12. Australia Laser Processing Market

13. Indonesia Laser Processing Market

14. South Korea Laser Processing Market

15. Western Europe Laser Processing Market

16. UK Laser Processing Market

17. Germany Laser Processing Market

18. France Laser Processing Market

19. Eastern Europe Laser Processing Market

20. Russia Laser Processing Market

21. North America Laser Processing Market

22. USA Laser Processing Market

23. South America Laser Processing Market

24. Brazil Laser Processing Market

25. Middle East Laser Processing Market

26. Africa Laser Processing Market

27. Laser Processing Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Laser Processing Market

29. Laser Processing Market Future Outlook and Potential Analysis

30. Appendix

A selection of companies mentioned in this report includes

  • Coherent Inc.

  • TRUMPF Inc.

  • Han’s Laser

  • IPG Photonics

  • Jenoptik Group

For more information about this report visit https://www.researchandmarkets.com/r/wq3ney

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Kingdom of Saudi Arabia (KSA) Medical Devices Market Outlook Report 2022-2026 – Increasing Prevalence of Chronic Diseases, Growing Healthcare Awareness and a Rising Healthcare Budget – ResearchAndMarkets.com

DUBLIN–(Company WIRE)–The “KSA Professional medical Gadgets Sector Outlook to 2026 -Pushed by Escalating Prevalence of Long-term Disorders, Growing Healthcare Recognition and Rising Healthcare Price range in the State” report has been extra to ResearchAndMarkets.com’s supplying.

“KSA Health-related Devices Outlook to 2026 supplies a detailed examination on the status of the professional medical product market place in KSA.

The report addresses numerous areas such as the latest market state of affairs in KSA, procurement and pricing developments, market possible of each health-related unit, significant advancement motorists, tech disruptions and improvements, and competitiveness benchmarking. The report concludes with current market projections for potential of the market together with forecasted marketplace size by revenue and enterprise action.

KSA Healthcare Gadget Sector Overview and Size:

KSA is the biggest medical unit market place in the Middle East area, developing at solitary digit CAGR in 2016-2021. It is a really price tag sensitive and import dependent marketplace with state-of-the-art health care units imported from international locations this kind of as US, Germany, Japan and China.

About fifty percent of locally created gadgets are one-use equipment are produced out of plastic. KSA’s raising funds allocation for the health care sector and ongoing health care progress initiatives has performed a pivotal position in the ongoing development.

KSA Health care Machine Market Segmentation:

By Procurement:

Imports have accounted for greater part of the revenue share in KSA Health-related System Marketplace in 2021. The imports are largely associated to far more subtle clinical and surgical instruments and infrastructure.

By Manner of Sales:

Distributor Mediated Product sales have accounted for the vast majority of the profits in KSA Medical Device Current market in 2021. Bulk of the intercontinental firms employ distributors in KSA for the applications of checking business enterprise opportunities, navigating import and regular tests polices, and identifying community sector profits and contract possibilities.

By Style of Healthcare Product:

Clinical Consumables have accounted for the biggest profits share in KSA Medical Units market in 2021, adopted by Diagnostic Imaging product and Cardiac Merchandise with Community & personal hospitals producing up the important conclusion end users for just about every segment/sub-segment of the business.

By Form of Healthcare Consumables:

Syringes, Needles and Catheters, Surgical Gloves and Masks and Infusion Pumps contributed sizeable share in earnings in the course of 2021. Growing prevalence of Medical center Obtained Infections (HAIs) and Covid-19 pandemic encouraged lots of area manufacturers to enter the current market for healthcare disposables.

By Style of Diagnostic Imaging Goods:

CT Scans contributed the greatest earnings share in 2021 adopted by MRI and X-Ray Based mostly Goods. Escalating prevalence of most cancers and other serious ailments and rising ageing inhabitants are driving the desire for diagnostic imaging gear in KSA.

By Sort of Cardiac Devices:

Implantable Cardioverter- Defibrillator (ICD) and Cardiac Rhythm Administration (CRM) have accounted for the big share in the KSA clinical device current market in 2021. Different specialized clinics targeted at managing cardiovascular ailments are turning out to be prevalent in KSA.

By Variety of Respiratory Products and solutions:

Oxygen Concentrators contributed optimum revenue share in 2021 owing to Covid-19 pandemic. The KSA inhabitants has substantial hazard of exposures to continual obstructive pulmonary sickness (COPD) and asthma.

By Type of Clinic Home furnishings:

Clinic Beds with Mechanical Fittings and Dentists’ Chairs contributed maximum earnings share in 2021. Escalating incidences of chronic disorders, rise in geriatric populace and developing clinic investments are top to an growing need to have for better individual-treatment and increased operational performance in KSA.

By Form of Auxiliary Products:

Listening to Aids have accounted for the major share in the KSA health care gadgets market in 2021. Growing occurrence of listening to loss of geriatric population, growing initiatives by governments and NGOs to increase consciousness about listening to loss treatment plans are elements boosting the demand from customers for listening to support equipment in KSA current market.

By Style of Dental and Orthopedic Goods:

Dental Appliances contributed the optimum earnings in 2021. The escalating prevalence of oral health conditions, an inclination toward the use of minimally invasive treatments and increase in the range of dentists are propelling the progress of the industry.

By Stop Buyers:

Hospitals contributed greatest to the sector earnings in KSA Health-related Devices Market in 2021. At the moment general public sector hospitals symbolize about far more than 75{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} of bed ability in KSA.

By Area:

Riyadh contributed greatest to the industry income in KSA Medical Equipment Marketplace in 2021. It has just one of the finest clinic services in Middle East which are at par with international requirements.

Competitive Landscape in the KSA Health-related Market place:

The opposition situation in KSA health care units sector is moderately fragmented thanks to the existence of significant amount of intercontinental businesses and nearby distributors foremost to dilution of current market share. The global organizations distribute their goods by way of licensed distributors positioned throughout the nation.

GE, Siemens, Philips, Hill-rom, Straumann, Phonak, Stryker are the important providers functioning in the KSA Medical Gadget market. Gulf Professional medical, Mediserv, FMS, Al-Jeel Professional medical and Tamer Group are number of prime distributors in KSA. The major aggressive parameters include merchandise selling price, technological improvements, item portfolio variability, just after assistance services and internet marketing actions.

KSA Healthcare System Sector Outlook & Projections

The KSA health-related unit market is envisioned to a favourable advancement in revenue in 2026, with imports contributing greatest share to the sector revenues.

Alterations in inhabitants composition will drive future healthcare necessities and will generate desire for a range of specialisms pediatrics, life style health conditions, extensive-phrase treatment, rehabilitation, home care, and rejuvenation services.

Governing administration is setting up to devote in personal sector integration to produce successful strategic partnerships in the pursuit of nationwide wellness objectives and advertising of truthful and complete geographical protection throughout all locations of the Kingdom.

Providers Coated

  • Abbott
  • Baxter
  • B. Braun
  • Becton Dickinson (BD)
  • Boston Scientific
  • Canon
  • Cochlear
  • Drager
  • Fresenius Healthcare Care
  • Fujifilm
  • GE Health care
  • Getinge
  • Hill-Rom Holdings Inc.
  • Hitachi
  • Invacare Company
  • Johnson & Johnson
  • Medtronic
  • Nihon Kohden
  • Oticon
  • Paramount Bed Holdings
  • Philips HealthTech
  • Siemens Healthineers
  • Smith & Nephew
  • Stryker
  • Widex
  • Zimmer Biomet

Key Segments Coated

By Type of Company Action

By Manner of Advertising

  • Distributor Mediated
  • Immediate Product sales

By Type of System

  • Health-related Consumables
  • Diagnostic Imaging Products
  • Respiratory Solutions
  • Dental and Orthopedic Items
  • Cardiac Device
  • Hospital Household furniture
  • Auxiliary Units
  • Ophthalmic Units
  • Dialysis Machine
  • Some others

By Style of Health care Consumable

  • Surgical Gloves and Masks
  • Syringes, Needles and Catheters
  • Intravenous Administration Established
  • Sutures and catgut
  • Infusion Pumps
  • Ostomy
  • Bandages, Dressings and Other people

By Variety of Diagnostic Imaging Product or service

  • CT Scan
  • X-ray Centered Products and solutions
  • Ultrasound
  • MRI
  • Electro diagnostic apparatus (Practical Assessment)
  • ECG
  • Other individuals

By Type of Cardiac Unit

  • Angioplasty System
  • Cardiac Rhythm Administration
  • ICD
  • Implants
  • Pacemakers
  • Coronary heart-Lung Machines
  • Other people

By Sort of Respiratory Solutions

  • Oxygen Concentrator
  • Nebulizers
  • Humidifier
  • Ventilators
  • Airway Tension devices
  • Other people

By Kind of Healthcare facility Furnishings

  • Clinic Beds with Mechanical Fittings and Dentists’ Chairs
  • Functioning Tables
  • Examination Tables
  • Health care, surgical, dental or veterinary household furniture
  • Others

By Sort of Auxiliary Solution

  • Hearing Aids
  • Synthetic entire body parts (excluding synthetic teeth and joints)
  • Other individuals

By Form of Dental and Orthopedic Products

  • Orthopedic Appliances
  • Synthetic tooth and dental fittings
  • Dental appliances
  • Surgical Belts
  • Trusses
  • Crutches
  • Other folks

By Form of Conclusion-Users

  • Hospitals
  • Clinics
  • Labs and Other people

By Kind of Region

  • Riyahd
  • Dammam and Al Khobar
  • Jeddah
  • Al-Qassim and Aseer Province
  • Some others

Vital Focus on Viewers

  • Professional medical System Producers
  • Medical Gadget Distributors
  • Health care Device Importers
  • Study companies and consulting organizations
  • Authorities bodies these kinds of as regulating authorities and plan makers
  • Market exploration and Consulting companies

Time Interval Captured in the Report:

  • Historic Period – 2016-2021
  • Forecast Interval -2021-2026F

For more info about this report take a look at https://www.researchandmarkets.com/r/fmpaf6

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international sector analysis studies and industry knowledge. We present you with the most current details on global and regional marketplaces, vital industries, the best providers, new solutions and the latest tendencies.

Global Refurbished Medical Equipment Market Driven by Increasing Demand in Developing Countries – Business

Global Refurbished Medical Equipment Market Driven by Increasing Demand in Developing Countries – Business

Image: The global refurbished medical equipment market revenue is expected to surpass USD 29 billion by 2027 (Photo courtesy of Pexels)

Purchasing a new piece of medical equipment comes with many upfront costs. And in a constantly changing industry, medical equipment can rapidly become outdated. Refurbishment is the systematic process of making used equipment equal to or better than new. Refurbishment is rebuilding or updating used equipment with new materials, components or parts to restore their original (or better) working condition and appearance. Refurbishment typically costs about half as much as buying a new one and can bring a machine back to a new-like condition. Refurbished equipment can help to avoid high upfront costs and being forced to use something that will quickly become obsolete. Refurbished medical equipment provides flexibility and also saves money by extending their lifespan to realize maximum return on investment. As a result, the global refurbished medical equipment market is projected to grow at a CAGR of 11.76{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} from USD 15.23 billion in 2021 to USD 29.68 billion by 2027, driven by increasing demand for medical equipment in the developing countries, high capital and procurement costs of new medical equipment, and growing preference for eco-friendly products. These are the latest findings of Arizton Advisory & Intelligence (Chicago, IL, USA), a market research firm.

Nearly one-third of the medical equipment industry in the developing countries is part of the refurbished medical equipment market. The dearth of access to medical equipment in the developing countries has attracted global interest in the refurbished medical equipment market for disease diagnosis. Healthcare systems in the low-and middle-income countries often have limited access to medical equipment for routine use. Implementing medical equipment refurbishment in a developing country provides employment, increases the knowledge of medical technology among the people, and thus, provides a sustainable supply of skilled personnel for the healthcare industry.

Medical equipment typically consists of complex machines that are expensive to purchase and operate and require significant maintenance. Small & medium-sized hospitals often cannot afford to buy new high-end equipment. Smaller clinics and local medical centers may not be inclined to spend their resources on purchasing limited new equipment that can easily deplete their entire annual budget. These facilities prefer refurbished equipment of reputed brands that will cost less but perform well for a few years without complaints. Purchasing refurbished medical equipment allows healthcare providers to maximize their budget while providing quality treatment options to each patient. By investing in refurbished equipment, hospitals and clinics can free up much-needed funds for other uses, such as staff, disposables, and medicines, further contributing to the growth of the refurbished medical equipment market. Additionally, refurbished medical equipment eliminates the annoying problems faced in using a worn-down machine and avoids the learning curve associated with new equipment.

Medical equipment inventory is an accepted cost of doing business for manufacturers and is often the most significant cost category. Since medical equipment is typically a high-value product, any efficiencies or cost reductions can quickly contribute to the bottom line. Older equipment does not last forever, and this equipment eventually will need to be replaced and refurbished. Many facilities are now eager to replace their older systems with the resolution of global supply chain problems. This will contribute to the rising sales of refurbished medical devices, aided by a large inventory of used medical equipment.

Refurbished medical equipment also offers environmental benefits. By extending the useful life of medical equipment from 5-7 to 10-14 years or even more, refurbishment is a form of reuse and waste prevention, contributing to an environmental economy. Refurbishment saves energy, and the materials are used to produce new equipment. Refurbishing medical equipment and extending its service life maximizes the return on the initial investment of energy and materials. Approximately 90{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} of the material for a system undergoing refurbishment can be reused; only 10{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} of the material must be recycled, which is done using environmentally friendly processes. In addition to important environmental benefits, refurbishing provides sustainable economic benefits by creating business and employment in the refurbished medical equipment market. Even existing equipment owners may consider refurbishing their machines rather than disposing off old ones and buying new ones if their users are comfortable using the specific model. A refurbished asset can be re-capitalized on a depreciation schedule at half the value of new equipment.

Based on product type, the medical imaging segment dominated the refurbished medical equipment market in 2021 with the highest share of 25.58{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f}. The use of medical diagnostic imaging equipment can resolve between 70-80{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} of diagnostic problems, but nearly 2/3 of the world’s population has no access to diagnostic radiology. Refurbished X-ray machines, ultrasound systems, MRI machines, CT scanners, and nuclear medicine systems (PET, SPECT, and PET/CT) allow healthcare facilities to provide patients with life-saving medical diagnostic imaging services. The medical imaging equipment segment is expected to record the highest incremental growth of USD 3.10 billion, while the IVD & laboratories equipment segment is expected to register the highest CAGR of 13.14{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} over the forecast period.

Based on application, the diagnosis & monitoring segment dominated the refurbished medical equipment market in 2021 with a share of 69.46{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f}, followed by the treatment & surgical interventions segment. Medical equipment is extensively utilized for patients’ diagnosis and treatment. Diagnostic and monitoring applications comprise Cardiology, Urology, Neurology, Orthopedics, Physiology, Emergency Medicine, Oncology, Obstetrics/Gynecology (OB/GYN), and others. The diagnosis & monitoring segment is expected to register the highest incremental growth of USD 9.73 billion, while the treatment & surgical interventions segment is expected to register the highest CAGR of 12.40{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} over the forecast period.

Based on end-user, the hospital segment dominated the refurbished medical equipment market in 2021 with the largest share of 37.97{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f}. Hospitals utilize more medical equipment than any other healthcare setting. Diagnostics are the primary screening method in hospitals, which are the first point of contact for any infection and disease. The rising number of people with various infectious diseases compels physicians in hospitals to use diagnostic imaging equipment, thereby increasing their demand. The hospital segment is expected to register the highest incremental growth of USD 5.24 billion, while the clinical & research laboratories segment is expected to record the highest CAGR of 12.18{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} over the forecast period.

Geographically, North America and Europe are the matured markets for refurbished medical equipment. In 2021, North America dominated the global refurbished medical equipment market with a share of 28.24{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} and revenues of USD 4.30 billion, due to its aging population, prevalence of chronic diseases, growing healthcare expenditure, need for advanced imaging techniques, presence of well-established players, and a significant shift towards digital medical equipment in the region. Further, the US accounted for a share of 91.21{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} of the North American refurbished medical equipment market, led by an increasing diseased population, growing access to insurance, and faster adoption of advanced healthcare instruments for treatments in the country. Following North America, the refurbished medical equipment market was dominated by Europe, APAC, Latin America, and the Middle East & Africa. The APAC market for refurbished medical equipment is expected to register the highest CAGR of 14.45{bf0515afdcaddba073662ceb89fbb62b6b1bf123143c0e06b788e1946e8c353f} and the highest incremental growth of USD 4.84 billion over the forecast period, driven by constant public and private funding, advancements in diagnostic imaging models, and growing medical awareness.

Related Links:

Arizton Advisory & Intelligence