Medical Lasers Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Medical Lasers market size was estimated at USD 4.6 billion in 2023 and is projected to reach USD 10.49 billion in 2030 at a CAGR of 12.5% during the forecast period 2024-2030.

The medical laser market is experiencing robust growth, driven by a confluence of technological advancements and an increasing preference for minimally invasive procedures. Medical lasers have become indispensable tools in a variety of medical fields, including dermatology, ophthalmology, dentistry, and aesthetics. The versatility and precision of laser technology have made it a preferred option for both practitioners and patients, contributing to the market's upward trajectory. One of the primary drivers of this growth is the rising demand for minimally invasive procedures, which offer significant advantages over traditional surgical methods. These procedures typically result in shorter recovery times, reduced pain, and lower risk of complications, making them highly attractive to patients seeking effective and convenient treatment options.

The increasing prevalence of eye disorders is another significant factor propelling the medical laser market. Conditions such as glaucoma, cataracts, and age-related macular degeneration are becoming more common, particularly among the aging population. Laser treatments provide a non-invasive and highly effective means of managing these conditions, enhancing patient outcomes and quality of life. Similarly, the market is seeing a surge in demand for cosmetic procedures, where lasers are widely used for hair removal, skin resurfacing, and tattoo removal. The aesthetic appeal of these treatments, coupled with advancements in laser technology, has spurred a growing acceptance and utilization of medical lasers in cosmetic applications.

Technological advancements have played a pivotal role in expanding the capabilities and applications of medical lasers. Innovations such as micro-invasive glaucoma surgery (MIGS) and novel hair removal techniques have broadened the scope of laser treatments, making them more effective and accessible. These advancements have not only improved patient outcomes but have also increased the efficiency and versatility of medical lasers, driving their adoption across various medical disciplines. Furthermore, the development of portable and user-friendly laser devices has facilitated their use in outpatient settings, enhancing their appeal to both patients and healthcare providers.

However, the growth of the medical laser market is not without challenges. High installation and maintenance costs can be a significant barrier to entry for smaller healthcare facilities, limiting the widespread adoption of advanced laser technologies. Additionally, stringent safety regulations and the need for specialized training to operate laser devices pose hurdles that can impede market growth. Despite these challenges, the benefits of medical lasers in terms of precision, efficiency, and patient satisfaction continue to drive their demand.

the medical laser market is poised for significant growth, fuelled by the increasing demand for minimally invasive procedures, advancements in laser technology, and the rising prevalence of conditions treatable by laser therapy. As the market continues to evolve, ongoing research and development efforts are expected to further enhance the capabilities and applications of medical lasers, solidifying their role as a critical component of modern medical practice.

Delvens Industry Expert's Standpoint

The ophthalmology segment within the medical laser market is set for substantial growth, driven by an increasing global burden of optical disorders and significant advancements in laser technology. The prevalence of conditions such as myopia, hyperopia, astigmatism, and presbyopia is alarmingly high, with the World Health Organization reporting that around 2 billion people suffer from vision impairment. This statistic underscores an urgent need for effective treatment solutions, particularly as nearly half of these cases are preventable or yet to be addressed. In the United States alone, the prevalence of myopia, especially among children, highlights a growing market for corrective laser surgeries.

Technological advancements are pivotal in this domain. Innovations like Lumibird Group's Capsulo Nd: YAG laser and Iridex Corporation's Cyclo G6 platform for glaucoma treatment exemplify the strides being made in ophthalmic laser technology. These advancements are not only enhancing the efficacy and safety of treatments but also broadening the scope of laser applications in ophthalmology. Regulatory approvals, such as those from China's National Medical Products Administration, further validate these technologies and facilitate their adoption in key markets.

Experts believe that the confluence of high disease burden and rapid technological progress will drive sustained growth in the ophthalmology segment. The increasing acceptance of laser treatments for vision correction, coupled with continuous innovation and favorable regulatory landscapes, positions this segment as a critical growth driver within the medical laser market. As companies continue to invest in research and development, the market is expected to witness an influx of advanced products, meeting the rising demand for minimally invasive, effective eye care solutions.

Market Portfolio

Key Findings

• On the basis of Product, the medical laser market is divided into diode lasers, solid-state lasers, gas lasers, and dye lasers. In 2023, diode lasers led the market with a revenue share of 41.9% due to their diverse applications in aesthetic procedures and photodynamic therapy. remain the most energy-efficient and cost-effective options. They are particularly favoured in dermatology and dentistry for their compact size and lower power requirements compared to other lasers. The solid-state lasers segment is projected to experience the fastest growth, with a CAGR of 16.4% during the forecast period, driven by high adoption rates in dermatology. This category includes Ho: YAG, Er: YAG, and Nd: YAG lasers, which are extensively used for procedures such as periodontology, tattoo removal, skin treatment, and vein removal. Solid-state laser systems must adhere to regulatory standards to ensure safety and effectiveness, with each country having its own approval processes and regulatory bodies for medical devices. Several factors contribute to the growth of the solid-state lasers segment, including the increasing demand for minimally invasive procedures, advancements in beam technology, the rising prevalence of chronic diseases, and a growing aging population. Manufacturers must comply with relevant standards and secure necessary approvals before bringing their products to market, ensuring these laser systems meet stringent safety and efficacy criteria.

• On the basis of Application, the application segment of the medical laser market is divided into dermatology, ophthalmology, dentistry, gynaecology, urology, cardiovascular, and others. In 2023, the dermatology segment led the market, holding the largest revenue share of 26.7%. Medical lasers in dermatology and aesthetics are used for various applications including hair removal, tattoo removal, skin resurfacing, scar revision, fat reduction, treatment of age-related skin conditions, dermal contraction, and vascular lesion treatment. Other applications within this field extend to orthopaedics, wound healing, biosensing, and general surgery. The cardiovascular segment is projected to grow at the fastest CAGR of 18.4% during the forecast period from 2023 to 2030. This rapid growth is driven by the increasing prevalence of heart diseases, age-related macular edema, coronary infarction, cardiac arrest, and artery diseases. The rising need for advanced medical treatments and technologies in addressing these cardiovascular conditions is expected to propel the demand for medical lasers in this segment

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America dominates the medical laser market due to high disposable income, a growing geriatric population base, and increasing cases of age-related disorders and conditions.

Regional Analysis

Asia Pacific to Dominate the Market

• North America dominated the medical laser systems market, accounting for the largest revenue share of 44.2% in 2023. This region benefits from advanced healthcare infrastructure, high healthcare expenditure, and the strong presence of key players such as Boston Scientific Corporation, Philips Healthcare, Stryker, IRIDEX Corporation, Bausch & Lomb Incorporated, and BIOLASE, Inc. The significant incidence of chronic diseases like cancer, cardiovascular disorders, and diabetes in North America fuels the demand for medical lasers, which offer minimally invasive, targeted therapy options with faster recovery times.

• As chronic disease prevalence rises, the demand for medical laser systems in North America is expected to grow substantially. The region is a hub for research and development, leading to continuous technological advancements in medical lasers. These innovations enhance efficiency, precision, and versatility, improving treatment outcomes and expanding the scope of laser-based medical procedures. The U.S., in particular, drives market growth with its large population, technological advancements, and high demand for aesthetic procedures. According to the National Library of Medicine, the U.S. spends significantly more on healthcare services per person than other OECD countries.

• Asia-Pacific is projected to witness the fastest CAGR of 15.9% during the forecast period. This growth is driven by the increasing prevalence of chronic diseases, rising disposable incomes, growing awareness of aesthetic procedures, and expanding healthcare infrastructure in countries like China, Japan, South Korea, India, and Australia. These factors contribute to the development of new and innovative products and technologies in the region.

Competitive Landscape

• Boston Scientific Corporation
• AngioDynamics
• CANDELA CORPORATION
• Philips Healthcare
• Stryker
• IRIDEX Corporation
• Lumenis Be Ltd.
• CryoLife, Inc.
• Bausch & Lomb Incorporated
• BIOLASE, Inc.
• Alcon Laboratories, Inc.
• American Medical Systems
• Photomedex
• Novadaq Technologies, Inc.
• Fujikura Ltd.
• LASOS Lasertechnik GmbH
• Modu-Laser

Recent Developments

• In March 2022, Cynosure announced the launch of the PicoSure Pro system, which is the only FDA-cleared 755nm picosecond laser using rapid pressure pulses rather than heat. This cutting-edge technology offers safe and effective solutions for pigmentation removal and skin rejuvenation across all skin types. The official unveiling of this innovative system was set to occur at the AMWC Congress in Monaco.

• In March 2021, Bausch Health Companies Inc. and its Solta Medical division launched the Clear + Brilliant Touch laser in the United States. This new-generation device introduces an advanced treatment protocol featuring dual wavelengths, providing tailored benefits for patients across different age groups and skin types. The introduction of this innovative product aimed to enhance treatment efficacy and versatility in dermatological care.

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Report Scope