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.
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.
Market Size Available
2022 to 2028
2023 to 2028
By Product, Application & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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:
Medical Laser Market – By Application:
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:
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:
The APAC region in the global medical laser market is expected to grow the fastest during the forecast period.
Based on product, the semiconductor laser segment dominated the medical laser market in 2022.
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 are some of the major companies in the global medical laser market.
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