Market Size of Medical Laser Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 13.40 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Medical Laser Market Analysis
The medical laser market is poised to grow at a CAGR of 13.4% over the forecast period.
COVID-19 impacted the medical laser market owing to supply chain disruptions due to initial suspensions of elective procedures involving medical lasers. For instance, according to the study published in the British Medical Journal in November 2021, the number of surgical procedures for Rhegmatogenous Retinal Detachment (RRD) decreased during the COVID-19 lockdown period in France without any offsetting post-lockdown activity. As a result, the studied market reported a decline due to a reduction in minimally invasive eye surgeries wherein lasers are used. The market growth was compensated due to the increased demand for medical lasers in the later phase of the pandemic. For instance, as per the Hamadan University of Medical Sciences article in February 2022, there has already been an increased usage of dental lasers to decontaminate surfaces and destroy germs. Dental lasers produce fewer aerosols and droplets than high-speed dental headpieces and ultrasonic devices. Hence, dental lasers were widely used in dentistry as it reduces the COVID-19 contamination risk. Therefore, the COVID-19 pandemic has had a significant impact on market growth.
The growth of the medical laser market is attributed to the rising preference for minimally invasive procedures, increasing incidences of eye disorders, and an increase in the number of cosmetic procedures.
The rising demand for minimally invasive procedures over traditional open surgeries is expected to boost the market growth. For instance, as per the article published by the National Center for Biotechnology Information (NCBI) in December 2022, novel micro-invasive or minimally invasive glaucoma surgery (MIGS) is mainly used in patients with mild-to-moderate glaucoma who are noncompliant or intolerant to topical drugs and are ideal cases for MIGS. The MIGS implant can be implanted during phacoemulsification surgery, reducing dependence on topical medications.
Additionally, as a result of the growing demand for aesthetic procedures, there has been advancing research on hair removal procedures with the help of various devices available in the market. For instance, in September 2021, doctors and researchers at the SL Aesthetic Clinic in Singapore launched an innovative new laser hair removal treatment method using a medical-grade Fotona Laser. Hence, with the innovation in treatment, there is a growing demand for advanced lasers used for hair removal.
Furthermore, according to the Aesthetic Plastic Surgery National Databank 2021 report, about 423.8 thousand non-surgical hair removal procedures were performed in women and 26.4 thousand in men in the United States. Hence, the large number of hair removal procedures is expected to boost the utility of non-surgical aesthetic devices such as lasers, thereby accelerating the market growth during the forecast period.
Therefore, owing to the factors such as rising demand for laser hair removal and other medical laser procedures, as well as technological advancements in laser devices, the medical laser market is expected to register significant growth during the forecast period. However, high installation costs and stringent safety regulation is expected to restrain the market growth over the forecast period.
Medical Laser Industry Segmentation
As per the scope of this report, medical lasers deploys focused light sources for tissue removal in various procedures such as cosmetic surgery, eye surgery, and dental procedures. These devices help in medical diagnosis, treatments, and therapies. The Medical Laser Market is Segmented by Product Type (Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, and Semiconductor Laser Systems), Application (Ophthalmology, Dermatology/Aesthetics, Gynecology, Dentistry, Urology, Cardiovascular, Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Product Type | |
| Solid State Laser Systems | |
| Gas Laser Systems | |
| Dye Laser Systems | |
| Semiconductor Laser Systems |
| By Application | |
| Ophthalmology | |
| Dermatology/Aesthetics | |
| Gynecology | |
| Dentistry | |
| Urology | |
| Cardiovascular | |
| Other Applications |
| Geography | ||||||||
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Medical Laser Market Size Summary
The medical laser market is experiencing robust growth, driven by the increasing preference for minimally invasive procedures and the rising incidence of eye disorders and cosmetic procedures. The market's expansion is further supported by technological advancements and innovations in laser devices, which are enhancing the efficacy and safety of various medical treatments. The COVID-19 pandemic initially disrupted the market due to supply chain issues and the suspension of elective procedures. However, the demand for medical lasers surged as they became essential in reducing contamination risks in dental and other medical settings. This shift underscores the market's resilience and adaptability in response to global health challenges.
North America is anticipated to witness significant growth in the medical laser market, fueled by a high demand for aesthetic procedures and a concentration of key market players in the region. The introduction of advanced laser technologies and products, such as the Clear + Brilliant laser and Alma Hybrid platform, is expected to further propel market expansion. The ophthalmology segment is also poised for growth due to the high prevalence of optical disorders and the increasing adoption of laser-based treatments. Major industry players are actively engaging in strategic initiatives, including mergers and new product launches, to strengthen their market positions and capitalize on emerging opportunities.
Medical Laser Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Preference for Minimally Invasive Procedures
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1.2.2 Increasing Burden of Eye Disorders
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1.2.3 Increase in the Number of Cosmetic Procedures
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1.3 Market Restraints
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1.3.1 High Installation Costs
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1.3.2 Stringent Safety Regulations
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Product Type
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2.1.1 Solid State Laser Systems
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2.1.2 Gas Laser Systems
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2.1.3 Dye Laser Systems
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2.1.4 Semiconductor Laser Systems
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2.2 By Application
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2.2.1 Ophthalmology
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2.2.2 Dermatology/Aesthetics
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2.2.3 Gynecology
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2.2.4 Dentistry
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2.2.5 Urology
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2.2.6 Cardiovascular
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2.2.7 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Medical Laser Market Size FAQs
What is the current Global Medical Laser Market size?
The Global Medical Laser Market is projected to register a CAGR of 13.40% during the forecast period (2024-2029)
Who are the key players in Global Medical Laser Market?
Lumenis Ltd, Alcon Laboratories Inc., Bausch & Lomb Incorporated, Koninklijke Philips NV and Candela Medical are the major companies operating in the Global Medical Laser Market.
