Home > Pressrelease > Medical Laser Market worth over $11.5bn by 2027

Medical Laser Market worth over $11.5bn by 2027

  • Published Date: October 27, 2021

Medical Laser Market size is set to surpass USD 11.5 billion by 2027, according to a new research report by Global Market Insights Inc.

Technological advancements in medical laser systems is a major factor accelerating market growth. Continuous developments in medical lasers have positively impacted the overall market expansion over the coming years. The introduction of easy-to-use, compact, and self-contained modules has offered new growth opportunities with enhanced procedural outcomes in several therapeutic areas. Flexibility in these technologies has advanced its usage in minimally invasive procedures and reinvigoration of damaged tissues. Further, firms operating in the industry are developing novel devices to improve precision and safety during operations. Recently, Summus Medical Laser introduced its Horizon Medical Laser System, a pioneer Class IV diode laser intended exclusively with innovative technology to enhance tissue healing and lower pain among other applications.

Increasing inclination towards for minimally invasive surgical procedures will augment growth opportunities

Rising preference for minimally invasive surgeries is creating the demand for laser-based products. Laser treatments offer secured and improved patient care with reduced scaring that increases patient and physician’s preference. In addition, wide range of its applications in ophthalmology, dentistry, aesthetics and urology among other therapeutic areas will benefit the industry growth. Furthermore, several advantages associated with procedures will continue to drive the product demand. Additionally, minimized risk of infection with smaller incision during surgeries with the use of laser technologies will stimulate the industry expansion.

Growing adoption of gas laser system to assist in cosmetic surgeries to boost the segment growth

Gas laser systems segment held more than 23% of the market share in 2020. Increasing usage of gas laser systems in several applications for treatment of skin conditions, hair removal and tattoo removal along with several others will f the product demand. Moreover, CO2 lasers are used for ablation procedures to treat vascular tumors, squamous cell carcinoma, melanoma and various cosmetic surgeries with reduced risk of surgical complications to patients.

Browse key industry insights spread 173 pages with 197 market data tables & 15 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 Surgical Centers), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027 in detail along with the table of contents:

Upsurge in dental procedures will enhance the product acceptance rate

Dentistry segment is projected to expand at 20.1% growth rate through 2027. Advancements and rapid introduction new technology-based devices is majorly fueling the market demand. Moreover, high usage of laser systems for dental treatments with several benefits such as enhanced accuracy, precision and low procedural time will offer growth opportunities to the segment.

Increasing preference and cost-effectiveness offered by the facility will impel the market revenue

Ambulatory surgery centers segment is estimated to attain a CAGR of 19.8% till 2027 led by the high patient accessibility and low-cost treatment in ambulatory facilities. Furthermore, shorter stay and growing number of ambulatory centers in developing regions will influence the segment expansion.

Large patient pool with increasing healthcare reforms in APAC will propel the product demand

Asia Pacific medical laser market is anticipated to witness 21.4% CAGR by 2027. Strategic expansion of key market participants into the region owing to lower manufacturing and labor cost and early adoption of advanced technologies is likely to assist the regional growth. Further, rising emphasis of established industry leaders to cater to large patient pool in oncology, ophthalmology and dermatological disease areas will impact the APAC market value. In addition, government funding for improving of healthcare infrastructure and healthcare reforms will influence market progression in the region.

Product augmentation by several market players will stimulate the industry expansion potential

Major companies operating in the market include Candela Corporation, Cutera, Cynosure, Boston Scientific Corporation (BSC), Biolase and Alcon Laboratories. These industry leaders mainly focus on acceptance of several growth strategies such as collaborations, mergers & acquisitions and product launches to expand their product portfolio and gain competitive advantage over others.

Authors: Sumant Ugalmugle, Rupali Swain