Growth Drivers of Medical Laser Market 2021-2027: Strategical Analysis with Top Company Profiles

Various benefits offered by medical laser technology will drive the growth of the medical laser market.

The Global Medical Laser Market size was valued at USD 7,500 million in 2020, and is expected to reach USD 16,880 million by 2027, growing at a CAGR of 12.2% during the forecast period (2021–2027).

Medical laser procedures are non-invasive and remove tissues using precise light sources. They have a faster healing process. There is a global rise in patients who are adopting medical laser treatments. Due to ease in procedures, quick method and fast healing, medical laser procedure is gaining preference. This is one of the reasons for the growth in the medical laser market. International Society of Aesthetic Plastic Surgery conducted a survey on aesthetic and cosmetic procedures and found that 10,607,330 cosmetic and aesthetic surgical procedures which were performed across the globe in 2018. Decreased pain, less scarring, and fast recovery are features that drive the rise in patients and in turn drives the growth of the medical laser market.

The Global Medical Laser Market Segmentation:

The Global Medical Laser Market is segmented on the basis of Product Type, Application, End-Use and by Region.

The Global Medical Laser Segmentation:

  • By Product Type
    • Solid State Laser Systems
    • Gas Laser Systems
    • Dye Laser Systems
    • Semiconductor Laser Systems
  • By Application
    • Ophthalmology
    • Dermatology/Aesthetics
    • Gynaecology
    • Dentistry
    • Urology
    • Cardiovascular
    • Other Applications
  • By End-Use
    • Hospitals
    • Specialty Clinics
    • Ambulatory Surgery Centers
  • By Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Company Profiles and Competitive Intelligence

The key players operating in the Global Medical Laser Market are:

  • Alcon Laboratories Inc.
  • AngioDynamics Corp.
  • American Medical Systems Inc.
  • Biolase Inc
  • Bausch & Lomb Holdings
  • Cardiogenesis Corporation Inc
  • Lumenis Ltd.
  • IRIDEX Corp.
  • Novadaq Technologies Inc.
  • Photomedex Inc.
  • Spectranetics Corporation
  • Syneron-Candela
  • Coherent Inc.
  • IPG Photonics Corporation
  • TRUMPF GmbH + Co. KG
  • Lumentum Holdings Inc.
  • Jenoptik AG
  •  Novanta Inc.
  •  LUMIBIRD Group
  •  LaserStar Technologies Corporation
  •  Epilog Laser
  •  Han's Laser Technology Industry Group Co., Ltd.
  •  MKS Instruments Inc.
  • Gravotech Marking
  •  Corning Incorporated
  • Eurolaser GmbH

The high cost of surgeries and treatments is said to limit the growth of the medical lasers market. According to a report, the cost of LASIK surgery in USA increased from USD 2,199 in 2018 to USD 2,246 in 2019. This hike in the cost is likely to act as a restraint to the growth of the medical lasers market. Stringent safety regulations for patients by government authorities may act as an impediment to the medical laser market growth. However, many countries are investing in medical laser treatment. For instance, Carl Zeiss Meditec acquired IanTECH Inc, in 2018, to increase production of equipment to manage cataract. Governments are building policies which are in support of the growth of medical laser industry.  This is one of the major opportunities seen in the medical laser market.

The Asia-Pacific region is expected rise during the forecast period. The main factors are due to the large population base including the high elderly population, the rising awareness towards laser treatments, and the adoption of advanced technology of laser treatment options. In 2018, The International Journal of Reproduction, Contraception, Obstetrics, and Gynaecology reported a rise in the cases of polycystic ovarian syndrome (PCOS) in India, from 3.9% to 23.1% which will in turn, be a contributing factor to a rise in the global medical lasers market in the future.

Medical Laser Market Report Highlights.

  • Based on application, urology segment accounted for the largest share for the base year 2020. This trend is said to continue during the forecast period.
  • Based on end user, the ambulatory Surgery centers segment is expected to grow at a CAGR of 8% during the forecast period.
  • Based on region, Asia-Pacific is projected to grow at a CAGR of 12.5% during the forecast period.
  • Based on product type, solid-state laser systems are expected to account for the highest market share in the market during the forecast period.

Recent News

  • Lumenis Ltd. is a medical device company which is energy-based. Lumenis Ltd is based in Israel and is introduced Legend Pro+ in 2019 which is a new skin rejuvenating technology and is unique. It has a multi-application platform powered by clinically proven and complementary technologies.

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