Medical Laser Market Worth $4.32 Billion by 2028

Meticulous Research®- a leading global market research company, published a research report titled "Medical Laser Market by Device Type (Solid-state Lasers, Gas Lasers, Dye Lasers); Fiber Type, Application, Fiber Application, and Geography-Global Forecast to 2028."

The global medical laser market is expected to grow at a CAGR of 15.3% during the forecast period, to reach a value of $4.32 billion by 2028. This market is largely driven by factors such as the increasing number of cosmetic procedures, rising preference for minimally invasive procedures, and the growing number of people with eye disorders. The growth of medical tourism is expected to provide significant growth opportunities for players operating in this market. However, factors such as the high cost of lasers, stringent safety regulations, and risks associated with lasers are expected to hinder the growth of this market.

The market is segmented into-the global medical laser devices market by type; the global medical laser fibers market by type, the global medical laser devices market by application; the global medical laser fibers market by application, and geography. This study also evaluates industry competitors and analyzes the market at the country level.

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Based on type, the global medical laser devices market is segmented into solid-state, gas, dye, and diode lasers. The diode lasers segment is expected to grow at the fastest CAGR during the forecast period. The growth of this segment is due to the preference for these lasers in various surgical procedures, such as hair removal, soft tissue cutting, aesthetic procedures, dental surgeries, coagulation, and thermal cancer therapy. Diode lasers deliver wavelengths ranging from 810 to 1064 nm. They are compact and portable solid-state units. These lasers are used precisely for soft tissue procedures and penetrate 2-3 mm or more into soft tissue, depending on the wavelength and tissue biotype. However, the solid-state laser segment is expected to account for the largest market share of the global medical lasers market in 2021.

Based on type, the global medical laser fibers market is segmented into disposable and reusable laser fibers. The disposable laser fibers segment is expected to grow at the fastest CAGR during the forecast period. The growth of this segment is attributed to the increasing use of laser fiber in diagnostic procedures, the effective cost of disposable laser fibers, and the increasing number of urologic and plastic surgery procedures.

Based on application, the medical laser devices market is segmented into dermatology, ophthalmology, urology, dentistry, cardiology, gynecology, and other applications. The medical lasers devices market for urology is expected to grow at the fastest CAGR during the forecast period. The rising number of patients suffering from kidney diseases, chronic kidney disorders, urinary tract infections, and the growing aging population are the factors attributed to the market growth of this segment. In addition, urinary tract infections are also one of the most common types of infections. As a result, companies are initiating several strategic developments for the development of urology medical lasers. For instance, in 2020, Olympus Corporation launched its Soltive SuperPulsed Laser System, a new application of thulium fiber laser technology designed for stone lithotripsy and soft tissue applications.

According to the International Society of Nephrology, in 2020, more than 850 million people had kidney disease globally. Furthermore, in 2020, in the U.S., cases of bladder cancer were around 81,400 (Men: 62,100, Women: 19,300), and approximately 17,980 people succumbed to this cancer (Source: American Cancer Society). In 2021, in the U.S., bladder cancer cases stood at 83,730 (about 64,280 in men and 19,450 in women), and 17,200 deaths were reported from bladder cancer (about 12,260 in men and 4,940 in women).

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Based on application, the medical laser fibers market is segmented into general surgeries, dermatology, urology, dentistry, cardiology, gynecology, and other applications. The cardiology segment is expected to grow at the highest CAGR during the forecast period. Cardiovascular surgeons use various types of laser fibers such as Nd: YAG, holmium, and CO2 to treat patients suffering from heart diseases or heart attacks, stroke or blood clots, and individuals at high risk for developing these problems. The better outcomes and higher efficiency of medical laser fibers have accelerated the demand for medical laser fibers in the medical industry.

Based on geography, the Asia-Pacific medical lasers market is expected to grow at the highest CAGR during the forecast period. This region's high market growth rate is attributed to the growth of medical tourism in most Asian countries, rising disposable income, growing awareness and adoption of minimally invasive aesthetic procedures, governments support to provide better medical infrastructures, and the arrival of several medical procedures devices manufacturers in the market.

In countries such as China and Japan, the respective governments have introduced policies to support the standardization of the aesthetic medicine industry. Furthermore, the digital media marketing of aesthetic procedures has created consumer awareness resulting in an explosive growth of the market. India is also at the forefront of development in the medical lasers market, with the government's continual effort to boost the medical technology market.

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However, North America is expected to account for the largest market share of the global medical lasers market in 2021. The growing aging population in the U.S. creates the need for major surgeries related to geriatric populations, such as ophthalmic surgeries, including cataracts, glaucoma, cardiovascular surgeries, and urological surgeries. These factors drive the demand for medical lasers in this region. Additionally, the presence of major vendors in the region, technological advancements in medical devices, government investments to promote innovation in the healthcare segment, and the exponential growth of aesthetic/cosmetic procedures contribute to the growth of the medical lasers market in this region.

Key players:

The prominent players operating in the medical laser market include 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, Inc. (South Korea), Cynosure LLC (U.S.), PhotoMedex (U.S.) and Spectranetics (U.S.) MED-Fibers, INC.(U.S.), Clarion Medical Technologies (Canada), Olympus Corporation (Japan).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/medical-lasers-market-5196

Scope of the Report

Medical Laser Devices Market, by Type

Solid-State Laser Devices
Neodymium Yttrium Aluminum Garnet Laser Devices (Nd:YAG)
Erbium Yttrium Aluminum Garnet Laser Devices (Er:YAG)
Holmium Yttrium Aluminum Garnet Laser Devices (Ho:YAG)
Alexandrite Laser Devices
Potassium Titanyl Phosphate Laser Devices
Ruby Laser Devices
Gas Laser Devices
Co2 Laser Devices
Excimer Laser Devices
Argon Laser Devices
Helium-Neon (HE-NE) Laser Devices
Krypton Laser Devices
Metal Vapor (Copper and Gold) Laser Devices
Diode Laser Devices
Dye Laser Devices

Medical Laser Fiber Market, by Type

Disposable Laser Fiber
Reusable Laser Fiber

Medical Laser Devices Market, by Application

Dermatology
Ophthalmology
Urology
Dentistry
Cardiology
Gynecology
Other Applications

Medical Laser Fiber Market, by Application

General Surgeries
Urology
Dermatology
Gynecology
Cardiology
Dentistry
Other Applications

Medical Laser Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
Italy
France
Spain
Rest of Europe
Asia-Pacific (APAC)
China
Japan
India
South Korea
Rest of APAC (RoAPAC)
Latin America
Middle East & Africa (MEA)

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