What is the global market size of Medical Laser Systems Market?

Global Medical Laser Systems Market size was valued at USD 3.9 billion in 2022 and poised to grow from USD 4.8 billion in 2023 to USD 10.2 billion by 2031, at a CAGR of 11.5% in the forecast period (2024-2031)..

Medical Laser Systems Market Size

Medical Laser Systems Market Insights

Medical Laser Systems Market size was valued at USD 4.8 Billion in 2023 and is poised to grow from USD 5.35 Billion in 2024 to USD 11.37 Billion by 2032, growing at a CAGR of 11.5% during the forecast period (2025-2032).

Over the projected period from 2022 to 2029, the medical laser systems market is expected to grow. Medical lasers can perform photochemical, photo ablative, and photothermal processes; their main applications are in the treatment and diagnosis of medical disorders. Some of the factors propelling the growth of the medical laser systems market include the rising requirement for non-invasive procedures, the rise in chronic illness prevalence, the growing adoption of cutting-edge laser-based treatments, and the rising demand for laser goods in diagnosis. Laser surgery can be used to remove redness, dilated blood vessels, hairs, improve skin texture and cellulite, and repair loose skin from ageing, according to a 2022 report by the U.S. Department of Health and Human Services.

Medical lasers are strong instruments that produce intense focused light beams for various medical diagnostic and therapeutic purposes. In various medical specialties, including dentistry, ophthalmology, dermatology, and surgery, medical lasers have become indispensable instruments. Medical lasers are extremely useful for operations like laser eye surgery, skin resurfacing, and tumor or lesion elimination due to their tremendous versatility and ability to precisely target tissues or cells. Throughout the projected period, dermatological and cosmetic clinics, aesthetic and dermatology lasers, are expected to develop at the fastest rates.

FAQs

Many significant multinational competitors fighting for market share define the competitive landscape of the global medical laser systems market. Companies with broad product portfolios and global reach, such Lumenis Ltd., Alma Lasers Ltd., and Cutera Inc., dominate the market. El.En. S.p.A., Biolase Inc., and Cynosure Inc. are a few other notable participants. The market is becoming more competitive because of these businesses' constant innovation in introducing cutting-edge laser technology to meet the needs of various medical specialties. 'Coherent, Inc. (USA) ', 'Lumenis (Israel) ', 'Alma Lasers (Israel) ', 'Candela Medical (USA) ', 'Bausch Health Companies Inc. (Canada) ', 'IPG Photonics Corporation (USA) ', 'TRUMPF (Germany) ', 'Novanta Inc. (USA) ', 'Fotona d.d. (Slovenia) ', 'Quanta System S.p.A. (Italy) ', 'Syneron Candela (Israel) ', 'Carl Zeiss AG (Germany) ', 'Biolase, Inc. (USA) ', 'Shandong Weigao Group Medical Polymer (China) ', 'Huadong Medical Laser Equipment Group Co., Ltd. (China) ', 'Shanghai Shenke Laser Technology Co., Ltd. (China) ', 'Hangzhou Shalom Medical Technology Co., Ltd. (China) ', 'Shenzhen Sunny Optical Technology Co., Ltd. (China) ', 'Changchun New Industries Optoelectronics Technology Co., Ltd. (China) ', 'Nanjing Starway Laser Technology Co., Ltd. (China) '

Advances in flap production technology, such as the femtosecond laser, have improved vision and decreased the rate of flap complications and postoperative dry eye disease (DED). Furthermore, enhancements in laser ablation profiles have resulted in better vision, particularly in low-light conditions. Therefore, as eye diseases become more commonplace worldwide, there is an urgent demand for medical lasers.

Future in Laser Vision Correction and Advance Dermatological Technologies: The Refractive Surgery Council reports a rise in laser vision repair treatments in the United States. Additionally, there was an upward trend in the number of laser vision correction procedures performed in the third quarter of 2021, rising by 48.0% from 2020. in procedures including PRK, SMILE, LASIK, and others. The emphasis in the fields of dermatology and skincare has now moved from traditional therapeutic approaches to cutting-edge technologies. Over the projection period, this market is expected to see high growth potential.

The market for medical laser systems is dominated by North America due to the region's high level of disposable income, ageing population, and rising incidence of age-related illnesses. due to the quicker uptake of other medical laser technologies including crossbeam and diode lasers. Further pushing the need for medical laser systems in the area for related surgeries is the rising incidence of ophthalmology, cardiology, cancer, orthopedic, and dental illnesses. In 2019 the second-biggest market for medical laser systems was found in Europe. The European Medical Laser Association (EMLA) and the European Society for Lasers and Energy Based Devices (ESLD) offer forums for members to interact and advance laser technologies. This is probably going to increase medical laser systems' visibility throughout Europe.