Medical Lasers Market Size to Surpass USD 22.34 Billion Growth by 2032, Exhibit a CAGR of 15.09% | Growing Adoption in Cosmetic Surgeries
The global medical lasers market size is anticipated to grow from USD 5.48 billion to USD 22.34 billion in 10 years. Several factors, including the escalating demand for non-invasive procedures, a surge in the prevalence of chronic diseases, the growing acceptance of advanced laser-based treatments, and increasing market demand for laser products in diagnostic applications, propel the growth of the medical lasers market. Additionally, rapid technological advancements and continuous R&D investments are expected to bolster the market growth over the forecast years.
Newark, Oct. 02, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 5.48 billion in 2022 global medical lasers market will reach USD 22.34 billion by 2032. The use of femtosecond lasers in ophthalmology is expected to grow. These lasers enable precise and minimally invasive procedures for cataract surgery and corneal surgeries, offering better patient outcomes and reducing the need for manual techniques. There is a rise in miniaturized and portable laser-based diagnostic devices. These devices provide rapid and accurate diagnostic information at the point of care, potentially transforming healthcare delivery in resource-constrained settings. In addition, integrating robotics with medical lasers is a growing area of interest. Robotic systems can enhance surgical precision and expand the applications of medical lasers in various specialities. Also, smart delivery systems that can adjust laser parameters in real time based on tissue conditions are under development. These systems aim to optimize treatment outcomes and reduce the risk of complications.
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Key Insight of the Global Medical Lasers Market
Asia Pacific is expected to witness the highest market growth over the forecast period.
Many countries in the Asia-Pacific region are experiencing rapid economic growth and urbanization. This factor has increased the healthcare expenditure by governments and private individuals, resulting in greater investment in advanced medical technologies, including medical lasers. The region is home to a significant ageing population. As people age, they are more likely to require medical interventions, including laser-based treatments for age-related conditions like cataracts and skin disorders. The region also has a growing prevalence of chronic diseases like cancer, cardiovascular diseases, and diabetes. Medical lasers are essential tools for the diagnosis and treatment of these conditions. Moreover, some countries in the Asia-Pacific region have emerged as medical tourism destinations due to the availability of high-quality healthcare services at lower costs. This trend has boosted the demand for medical laser treatments, including cosmetic and dental procedures.
In 2022, the surgical lasers segment held the largest market share at 55.72% and a market revenue of 3.05 billion.
The type segment is split into surgical lasers, dental lasers, aesthetic lasers and others. In 2022, the surgical lasers segment held the largest market share at 55.72% and a market revenue of 3.05 billion.
In 2022, the solid-state laser systems segment dominated the market with the largest share of 32.71% and revenue of 1.79 billion.
The product type segment includes solid-state laser systems, gas laser systems, dye laser systems and diode laser systems. In 2022, the solid-state laser systems segment dominated the market with the largest share of 32.71% and revenue of 1.79 billion.
In 2022, the dermatology segment dominated the market with the highest share of 22.35% and market revenue of 1.22 billion.
The application segment is classified into ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular and others. In 2022, the dermatology segment dominated the market with the highest share of 22.35% and market revenue of 1.22 billion.
In 2022, the hospitals segment held the largest market share at 42.08% and a market revenue of 2.30 billion.
The end-user segment is divided into specialized clinics, ambulatory surgical centers, and hospitals. In 2022, the hospitals segment held the largest market share at 42.08% and a market revenue of 2.30 billion.
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Advancement in market
In May 2023: Reveal Lasers LLC, a company specializing in energy-based technology for medical and aesthetic procedures, has disclosed its acquisition of Med Rep Meeting, a dynamic startup organizing meetings for medical representatives across various industries, including medical aesthetics. This strategic acquisition positions Med Rep Meeting to serve as the internal sales team for Reveal Lasers, thereby augmenting the effectiveness and output of Reveal Lasers’ field sales representatives.
In October 2022: Sensus Healthcare introduced its sole portable hair removal laser system (‘Silk’) in the U.S. Silk, designed by Sensus, showcases a genuinely portable diode laser system boasting an impressive 2000W power output, a featherweight handpiece, an advanced super-cold cooling tip, and exceptional high repetition rates. This revolutionary technology integrates the capability to seamlessly combine wavelengths while emitting light in a vertical orientation towards the skin. This innovative approach enhances efficiency by sustaining laser density within the targeted area, enabling deeper penetration and a more uniform energy distribution. Notably, Silk’s versatility extends to all skin types, making laser hair removal accessible to individuals of varying skin tones and types.
Driver: Minimally invasive procedures and rise in eye-related disorders.
Rising adoption of minimally invasive techniques over traditional surgeries by patients and healthcare providers due to reduced pain, shorter recovery times, and lower risk of complications. Medical lasers play a crucial role in these procedures. In addition, the prevalence of eye-related disorders, including cataracts and refractive errors, has increased with lifestyle changes and an ageing population. Lasers are widely used for eye surgeries such as LASIK and cataract surgery. Thus further fuelling the market’s growth.
Restraint: Incompatibility with certain skin types and risk of adverse effects.
While medical lasers are generally safe, there is always a risk of adverse effects, scarring, or complications, particularly if the operator lacks experience or uses inappropriate settings. In addition, some laser-based dermatological procedures may not be suitable for people with particular skin types or conditions, restricting the potential patient pool.
Opportunity: Expanding applications with personalized medicine.
Medical lasers can be applied in various medical specialities, including ophthalmology, dermatology, urology, dentistry, and oncology. Continued research and development can lead to discovery of new applications and treatment modalities, creating opportunities for market expansion. Furthermore, laser technologies can be tailored to individual patient needs, allowing personalized treatment plans and better therapeutic outcomes. This trend aligns with the broader shift toward personalized medicine in healthcare.
Challenge: Lack of skilled workforce.
Performing laser procedures requires a skilled and trained workforce. The need for healthcare professionals with expertise in medical laser technology can be a constraint in certain regions. Besides, disposing of medical laser equipment and materials used in treatments can have environmental implications, leading to waste management and sustainability concerns.
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Some of the major players operating in the global Medical Lasers market are:
• Alma Lasers
• BIOLASE, Inc.
• Boston Scientific Corporation
• Bausch & Lomb Holdings, Inc.
• Candela Corporation
• CryoLife, Inc.
• Cutera Inc.
• Ellex Medical Lasers Ltd.
• Fujikura Ltd.
• Iridex Corporation
• Koninklijke Philips N.V.
• LASOS Lasertechnik GmbH
• Lumibird Group
• Novartis AG
• PhotoMedex Inc.
• Reveal Lasers LLC
• STRATA Skin Sciences, Inc.
• Sisram Medical Limited
• Syneron Medical Ltd.
• Top Corn Corporation
• Zeiss Group
Key Segments cover in the market:
• Surgical Lasers
• Dental Lasers
• Aesthetic Lasers
By Product Type
• Solid-state Laser Systems
• Gas Laser Systems
• Dye Laser Systems
• Diode Laser Systems
• Specialized Clinics
• Ambulatory Surgical Centers
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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