Medical Laser Market By Product Type (Solid State laser systems, Gas laser systems, Dye laser systems, Diode laser systems), By Application (Ophthalmology lasers, Surgical lasers, Aesthetic and Dermatology Lasers, Others), By End User (Hospital, Dermatology and Cosmetic Clinics, Ophthalmic Clinics, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Medical Laser Market was valued for $5,753.77 million in 2022 and is estimated to reach $17,073.80 million by 2032, exhibiting a CAGR of 11.3% from 2023 to 2032.
Medical laser is a specialized device that generates intense beams of coherent light, harnessed for various medical applications. These lasers are designed to deliver precise and controlled energy to tissues within the human body, making them invaluable tools in modern healthcare. They are commonly used in surgical procedures, such as eye surgeries to correct vision issues (e.g., LASIK), where the laser reshapes the cornea.
The growth of global medical laser market is majorly driven by increase in prevalence of ophthalmic diseases and high adoption of the medical lasers by healthcare professionals. Medical lasers offer precision and reduced trauma, making them a preferred choice for various surgical applications, such as ophthalmology, dermatology, and aesthetic procedures.
The rise in the prevalence of ophthalmic disorders has emerged as a significant driver for the growth of the medical laser market. Ophthalmic disorders, including a wide range of conditions affecting the eyes, have become increasingly common in recent years, primarily due to factors such as an aging population, changing lifestyles, and the surge in incidence of conditions such as myopia, glaucoma, diabetic retinopathy, and age-related macular degeneration. For instance, according to 2023 report by Ministry of Health, Saudi Arabia, it was estimated that total number of suspected cases of glaucoma is over 60 million worldwide. For instance, according to National Library of Medicine, the world’s largest biomedical library and a leader in research in computational health informatics, it was reported that age-related macular degeneration accounts for 8.7% of all types of blindness worldwide. These disorders often necessitate precise and minimally invasive treatment options, which medical lasers are well-suited to provide. Lumibird Medical, a leading medical laser manufacturer for ophthalmic applications, provides Ellex Solo to perform quick and highly accurate glaucoma laser treatments. Thus, the rise in prevalence of ophthalmic disorders is expected to drive the growth of the market.
Furthermore, the rapid and widespread adoption of medical lasers by healthcare professionals has emerged as a significant driving force behind the remarkable growth of the medical laser market. Medical lasers offer healthcare professionals a highly precise and minimally invasive tool for a wide range of medical procedures. This precision is particularly crucial in delicate surgeries and treatments, such as ophthalmology, dermatology, and various cosmetic procedures, where accuracy is paramount. The ability to target specific tissues or cells with minimal damage to surrounding healthy tissue has not only improved patient outcomes but has also shortened recovery times and reduced post-operative complications. Moreover, the versatility of medical lasers has expanded their utility across various medical disciplines, allowing practitioners to address an ever-increasing number of medical conditions. Medical laser is now used in the removal of tumors, the treatment of vascular issues, or the rejuvenation of skin. Lasers have proven their efficacy, contributing to their popularity among healthcare professionals. For instance, according to 2023 report by U.S. Food and Drug Administration, a federal agency of the Department of Health and Human Services, it was reported that with proper use, lasers allow the surgeon to accomplish more complex tasks, reduce blood loss, decrease postoperative discomfort, reduce the chance of wound infection, and achieve better wound healing. In conclusion, the high adoption of medical lasers by healthcare professionals is expected to drive the growth of the market.
However, high cost of medical lasers might restrain the growth of the market. Moreover, expanded applications of lasers across clinical areas is expected to present significant growth opportunities in the market.
The medical laser market is segmented on the basis of product, application, end use, and region. By product, the market is classified into laser system and consumables. By application, the market is categorized into surgical lasers, dental laser, aesthetic lasers, and others. By end user, the market is divided into hospital, ambulatory surgical centers, and other. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global medical laser market are Bausch Health Companies, Inc, Boston Scientific Corporation, Koninklijke Philips N.V, Novartis AG, Biolase Inc, Iridex corporation, Artivion, Inc, Lumibird Medical, Candela Corporation and Cynosure, LLC.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical laser market analysis from 2022 to 2032 to identify the prevailing medical laser market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the medical laser market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global medical laser market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Product TypeSolid State laser systems
Gas laser systems
Dye laser systems
Diode laser systems
By ApplicationOphthalmology lasers
Surgical lasers
Aesthetic and Dermatology Lasers
Others
By End UserHospital
Dermatology and Cosmetic Clinics
Ophthalmic Clinics
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market PlayersBoston Scientific Corporation
Bausch Health Companies, Inc.
Candela Corporation.
Lumibird Medical
Koninklijke Philips N.V.
Artivion, Inc.
Cynosure Inc
Novartis AG
Biolase Inc
Iridex corporation.
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