Home > Pressrelease > Medical Laser Market size to exceed $18.7 Bn by 2032

Medical Laser Market size to exceed $18.7 Bn by 2032

  • Published Date: January 16, 2023

Medical Laser Market size is anticipated to surpass USD 18.7 billion by 2032, according to a new research report by Global Market Insights Inc.

Robust technological developments in medical laser systems will fuel market growth in the coming years. The introduction of easy-to-use, small-footprint, and self-contained modules has opened new revenue avenues for medical laser manufacturers to improve procedure results in several therapeutic fields. Increasing demand for advanced medical laser systems in dermatology will motivate industry players to develop novel products. For instance, Cutera Inc.'s Excel V+ device is a next-generation laser system intended to treat skin, blood vessels, and pigmentation. With the aid of spots up to 16mm in size, the device can cure superficial and deep vascular lesions, pigment difficulties, and skin rejuvenation issues.

Growing popularity of solid-state medical laser systems

Medical laser market from the solid-state laser systems segment held a revenue of over USD 1.3 billion in 2022. Solid-state medical laser systems are gaining popularity owing to their various benefits like high dependability, compact design, cheaper costs, and long-life duration. These lasers are used in medical applications such as melisma treatment, scar removal, and skin resurfacing. They are also used to identify the interactions of laser radiation with biological tissue in dentistry, cardiology, ophthalmology, and dermatology.

Rising cases of eye disorders to fuel demand for LASIK treatments

Medical laser industry from the ophthalmology application accounted for more than 21.4% share in 2022. An increase in the frequency of ophthalmological illnesses has triggered the value for treatment options like LASIK. Lasers are a crucial tool in ophthalmology owing to their numerous benefits like enhanced safety, accuracy, and relative affordability. Expanding use of medical lasers for eye treatment should offer lucrative progress prospects to medical laser manufacturers in the coming years.

Browse key industry insights spread across 170 pages with 197 market data tables & 17 figures & charts from the report, “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 Surgery Centers), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents:

Use of technologically advanced laser techniques across hospitals

Medical laser market from the hospital end-use segment accounted for over 32% in 2022. The usage of medical lasers in hospitals has accelerated as it lowers post-operative complications and enhances patient outcomes. Hospitals are these days equipped with technologically advanced laser equipment and qualified medical staff to operate these systems. The availability of effective treatment options, well-developed healthcare facilities, and improved after-operation care will encourage patients to opt for laser surgeries across hospitals.

Robust investments by leading players in the APAC

Asia Pacific medical laser market value is expected to reach USD 4.7 billion by the year 2032. Due to lower manufacturing and labor costs, several market players in the region are investing more in the development of advanced medical laser systems. The early adoption of cutting-edge technologies is motivating prominent companies to initiate strategic activities in the region which is projected to support market scenario.

Business expansion activities to augment medical laser industry landscape

Alcon AG, Sisram Medical Ltd (Alma Lasers), Bausch Health Companies, Inc. (Bausch & Lomb), Boston Scientific Corporation, BIOLASE, Syneron Medical (Syneron Candela), Cynosure, Ra Medical Systems, Dentsply Sirona, Fotona, Koninklijke Philips N.V., Topcon Corporation, IRIDEX Corporation, and Cutera Inc. are some of the leading players in global medical laser market. Companies in this sector are initiating new business outlook activities.

Authors: Sumant Ugalmugle, Rupali Swain