Medical Laser Market Size By Product (Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, Diode Laser Systems), By Application (Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiology, Gastroenterology), By End-use (Hospitals, Specialty Clinics, Ambulatory Surgical Centers), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Industry trends

Medical Laser Market size exceeded USD 3.4 billion in 2020 and is anticipated to grow at a CAGR of over 19.2% between 2021 and 2027. Efficiency in treatment of cutaneous malignancies will augment the market growth during the forecast period.
 

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Increasing preference for minimally and non-invasive procedures to enhance clinical outcomes will offer unprecedented growth opportunities to medical laser market. Growing prevalence of obesity, focus on physical appearance and rising awareness among people regarding aesthetic procedures are some of the notable industry driving factors. Adoption of medical lasers due to less pain, minimal incisions and faster recovery will propel the product demand. Additionally, continuous developments in laser-assisted devices to offer advanced treatments in healthcare facilities with reduced risk of post procedural complications will supporting the industry growth.
 

Significant increase in product demand with rising medical tourism will offer unprecedented growth opportunities

Growing medical tourism will fuel the product demand. Several initiatives taken by healthcare organizations for promotion of medical tourism will impel the tourism in various countries. Furthermore, availability of advanced and high-quality treatment procedures using laser-based devices such as cosmetic surgery, orthopedic and dental surgery is one of the key factors that will accelerate the market expansion.
 

The emergence of COVID-19 outbreak has negatively impacted on medical laser market progression during the pandemic. The preventive lockdown in several economies and restrictions on non-emergency medical procedures has resulted into significant decline in procedural volume during initial period, thereby impacting the product sales. Moreover, shut down of manufacturing units, ban on import & export hampered sales of medical lasers in the initial phase. However, with decline in COVID-19 cases and increasing demand for elective surgical procedures, the market will continue to foresee lucrative growth in the coming years.
 

High acceptance of diode lasers in aesthetic surgeries to reduce post-surgical complications will foster the segment growth

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Diode laser system segment captured 31% of the medical laser market share in 2020 led by the high usage of diode lasers across numerous healthcare applications. Diode laser systems offer precise and accurate outcomes in minimal time period. Furthermore, application of diode lasers in minimally invasive surgeries to reduce post-surgical complications in aesthetic surgeries will fuel the product demand. In addition, favourable reimbursement policies and government initiatives aimed to broaden treatment accessibility will stimulate the industry expansion.
 

Growing awareness and preference for non-invasive cosmetic treatments will drive the demand for the medical lasers

Dermatology segment is expected to witness 18.4% growth rate through 2027 impelled by the numerous applications of medical lasers in the field of aesthetic medicine. Medical lasers have proven to be highly efficient in treatment of cutaneous malignancies as well as primary skin diseases. Moreover, increasing product adoption with preference for non-invasive cosmetic treatments improving facial aesthetics will accelerate the segment expansion.
 

Increased usage of advanced equipment and laser-based devices in hospital settings will boost the market revenue

Hospitals segment in the medical laser market was valued at more than USD 1 billion in 2020 owing to the presence of state-of-the-art facilities and skilled professionals in hospital settings. Growing preference towards facilities due to cost efficiency with reimbursements and better patient care will further augment the segment progression. In addition, continuous infrastructure development as well as expanding number of hospitals adopting laser equipment across the globe will influence the segment value.
 

Technological advancements in medical lasers to cater growing patient population in North America will spur the market demand

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North America medical laser market captured 44% of revenue share in 2020 on account of the increasing number of research studies for novel therapeutic applications of medical laser systems. Additionally, rising preference for non-procedures with high spending ability and awareness among American population will benefit the regional growth. Considerable demand for aesthetic treatments along with prevalence of other malignant conditions has offered business expansion opportunities to the industry participants in the region.
 

Product innovations and collaborations to strengthen product offerings are assisting the industry players in their business expansion

The global market consists of numerous companies including Boston Scientific Corporation, Koninklijke Philips, Alcon AG, Bausch & Lomb, Alma Lasers, BIOLASE, Syneron Candela, Dentsply Sirona, Ra Medical Systems, Fotona, IRIDEX Corporation, Topcon Corporation and Cutera, Inc. These leaders are adopting several growth strategies such as collaborations, acquisitions & mergers, partnerships, and product launches to strengthen their market share.
 

The medical laser market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Product

• Solid State Laser Systems
• Gas Laser Systems
• Dye Laser Systems
• Diode Laser Systems

Market, By Application

• Ophthalmology
• Dermatology
• Gynecology
• Dentistry
• Urology
• Cardiology
• Gastroenterology
• Others

Market, By End-use

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE