Medical Laser Market

Global Medical Laser Market Size (2023 to 2028)

The global medical laser market was worth USD 3850.78 million in 2022 and is estimated to grow at a CAGR of 11.23% from 2023 to 2028 and value USD 7292.56 million by 2028 from USD 4283.22 million in 2023.

Medical lasers are devices that treat or remove tissues using finely focused light sources. Lasers are utilized to perform precision surgical procedures or cut through tissue instead of a scalpel because they can correctly concentrate on small areas. Due to their capacity to give high precision treatments while minimally invasive, lasers are extensively used in numerous medical fields, including dermatology, dentistry, cardiology, neurosurgery, and eye surgery.

Impact of COVID-19 on the global medical laser market:

COVID-19 patients have been given top priority in terms of healthcare resources. On the other hand, routine healthcare services were discontinued to prevent the spread of infection; from March 2020, countries worldwide implemented country-wide lockdowns, allowing only vital services to operate. Clinics that provide laser services were closed at the beginning. Compared to other industries, the medical lasers market has not experienced a significant downturn.

MARKET RESTRAINTS:

Stringent safety requirements and a high failure rate are limiting considerations for the global medical laser market. In addition, the high cost of lasers and the risks involved with lasers are projected to restrict the market's growth.

REPORT COVERAGE:

This research report on the global medical laser market has been segmented and sub-segmented based on product, application & region.

Medical Laser Market – By Product:

• Solid-State Laser Systems
• Gas Laser Systems
• Dye Laser Systems
• Semiconductor Laser Systems

Medical Laser Market – By Application:

• Ophthalmology
• Dermatology/Aesthetics
• Gynecology
• Dentistry
• Urology
• Cardiovascular
• Other Applications

Based on the application, the cardiovascular segment dominates the other segments during the global medical laser market forecast period. The usage of laser systems in applications such as cardiovascular illnesses is on the rise. The growth of this market can be ascribed to the prevalence of heart-related disorders and the quick technical advancement of cost-effective laser-based medical treatment procedures.

Medical Laser Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

During the forecast period, the medical lasers market in Asia-Pacific is expected to develop at the quickest CAGR. Medical tourism is growing in most Asian countries, as is disposable income, awareness, and adoption of minimally invasive aesthetic operations, government backing for improving medical infrastructures, and various medical device manufacturers into the market. Governments in nations like China and Japan have consistently implemented regulations to assist the standardization of the aesthetic medicine business. The medical laser market in China is booming due to the widespread use of laser technology in aesthetic procedures. The expanding Chinese middle-class population and their greater desire and consciousness for improved health and body care drive the demand for cosmetic surgery.

North America dominated the worldwide medical laser market in 2020, which is expected to continue over the forecast period. The prominent market size is due to an increasing appetite for cosmetic operations and a high adoption rate of novel technology. In addition, medical device manufacturers in North America are introducing new medical innovations into the market. These aids medical professionals in improving the health of their patients by increasing treatment efficiency, resulting in improved healthcare facilities in the region.

KEY MARKET PARTICIPANTS:

Companies playing a promising role in the global medical laser market and profiled in this report are Alcon Laboratories, Inc., AngioDynamics Corp., American Medical Systems, Inc., Biolase Inc., Bausch & Lomb Holdings, Cardiogenesis Corporation, Lumenis Ltd., IRIDEX Corp., Novadaq Technologies, Inc., Photomedex, Inc., Spectranetics Corporation and Syneron-Candela.

RECENT HAPPENINGS IN THIS MARKET:

• OmniGuide Holdings, Inc. announced a new OTO-U CO2 laser system fiber in 2021. This fiber is employed in ENT and otology procedures because it allows surgeons to reach restricted locations with greater precision, resulting in better procedure outcomes.
• IRIDEX Corporation, an ophthalmic laser-based medical device maker, announced an updated version of its laser MicroPulse P3 device to treat glaucoma in February 2020. It is predicted to significantly reduce intraocular pressure without incisions, making it acceptable for glaucoma patients.
• Lumenis Ltd. teamed up with Harrods Wellness Clinic in May 2021 to equip its aesthetic clinic with the Stellar M22.