Medical Laser Market is segmented by Type (Solid-state Lasers, Gas Lasers, Dye Lasers, Diode Lasers), Application (Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiovascular, Other Applications) and Geography.
The Medical Laser Market is anticipated to grow at a CAGR of 14.2% from 2021 to 2028 reaching a market value size of USD 3 Billion by 2028.
Medical laser are devices utilized to accurately focus light sources in treating or removing tissues. The cutting ability of laser beams make bloodless procedures in cutting tissues possible.
The high-demand for minimally to non-invasive aesthetic and cosmetic procedures can be considered as one of the drivers of growth. Non-invasive procedures offer convenience and can give safer alternatives for patients who prefer painless to reduced scarring outcome. Drivers which lead to the growth of this market are, high demand for cosmetic procedures, patient preference on minimally invasive procedures, and high number of patients with eye disorders. The improving and developing medical tourism plays a significant growth in the market as well. The high demand for private hospitals, medical infrastructure improvements, and affordable treatments are the growth booster of medical tourism in developing economies.
Cosmetic procedures are also in demand nowadays because aside from being minimally invasive, a wide array of procedures using medical laser can be had such as body contouring, skin tightening, hair removal, dermabrasion, acne, wrinkles, and skin rejuvenation procedures. The growing social awareness on the value of aesthetic procedures and adoption of these types of surgeries push forth the growth and demand of this market.
Impact of COVID-19 on the Medical Laser Market
The pandemic has negatively affected market growth since healthcare protocols and global lock downs have been imposed by governments. These new rules limit or restrict manufacturing and distribution of medical display products thereby disrupting the supply chain. Operations have been halted so deliveries and sales to end users of medical laser devices have also been delayed, if not, postponed. This posed a big restraint in the market because end users are unable to adopt the use of these devices and cannot provide efficient healthcare services.
Key Findings in the Global Medical Laser Market Study
In terms of type, it is segmented into solid-state, gas, dye, and diode lasers. During the forecast period, the solid-state laser segment has the largest share in the market accounted for. The advantages of solid-state lasers are, high efficiency unlike gas lasers, has a simple construct as compared to other lasers, and cost effective. Solid-state lasers are utilized in medical applications to examine effects of laser radiation with tissues in ophthalmology, dentistry, cardiology, and dermatology.
This segment is further classified into, holmium yttrium aluminum garnet lasers (Ho:YAG), erbium yttrium aluminum garnet lasers (Er:YAG), neodymium yttrium aluminum garnet lasers (Nd:YAG), potassium titanyl phosphate lasers, Alexandrite lasers, and ruby lasers. The neodymium yttrium aluminum garnet lasers (Nd:YAG) are anticipated to have the largest share accounted for in the global market in 2021.
In terms of application, it is segmented into dermatology, ophthalmology, urology, dentistry, cardiology, gynecology, and other applications. The dermatology segment is projected to account for the largest revenue in the market in 2021. This is due to the rise of demand in cosmetic surgeries and treatments that requires for medical lasers.
Regional Market Analysis
During the forecast period, North America is expected to hold the largest share accounted for in the market by 2028, next on the list would be Europe and Asia Pacific. This significant regional market growth is due to the presence of major key players in the region, advancement in medical technology and its devices, support from government through investments, innovations and initiatives to have a better healthcare infrastructure, high demands in cosmetic/aesthetic surgeries, and preference on minimally invasive surgeries like neurotoxins, dermal fillers, deoxycholic acid, lasers, peels, and micro needling.
Share and Competition of Key Market Players
Lumenis, Ltd. (Israel), Fotona d.o.o. (Slovenia), BIOLASE, Inc. (U.S.), IRIDEX Corporation (U.S.), CUTERA, INC. (U.S.), Alna-Medicalsystem AG & Co. KG (Germany), Bausch & Lomb Incorporated (U.S.), Boston Scientific Corporation (U.S.), Alcon, Inc. (Switzerland), STRYKER CORPORATION (U.S.), Alma Lasers (Israel), biolitec AG (Germany), Bluecore Company (South Korea), Cynosure (U.S.), PhotoMedex (U.S.) and Spectranetics (U.S.) These Key Players are chartered through competitive landscapes on the basis of an extensive assessment of product portfolio offerings, geographic presence and development strategies adopted by them in the industry in 2021.
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2021 - 2028)
• Solid-state Lasers
• Neodymium Yttrium Aluminum Garnet Lasers (Nd:YAG)
• Erbium Yttrium Aluminum Garnet Lasers (Er:YAG)
• Holmium Yttrium Aluminum Garnet Lasers (Ho:YAG)
• Alexandrite Lasers
• Potassium Titanyl Phosphate Lasers
• Ruby Lasers
• Gas Lasers
• CO2 Lasers
• Excimer Lasers
• Argon Lasers
• Helium-Neon (HE-NE) Lasers
• Krypton Lasers
• Metal Vapor (Copper and Gold) Lasers
• Diode Lasers
• Dye Lasers
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Other Applications
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Medical Laser Industry Research Report
• Europe Medical Laser Industry Research Report
• Asia Pacific Medical Laser Industry Research Report
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