According to the latest report by IMARC Group, titled "Medical Lasers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global medical lasers market size reached US$ 4.2 Billion in 2022. Medical lasers are types of devices that are widely used to treat or remove tissues through precisely focused light sources. They function on non-ionizing radiation to decrease blood loss, minimize postoperative discomfort and reduce the chances of wound infection. They utilize concentrated beams of light to target specific areas in the body with extreme precision. This allows them to be used to treat a wide range of ailments without damaging the surrounding tissue. As a result, the utilization of medical lasers has revolutionized the medical field, making treatments more effective and less invasive than ever before as they are highly versatile and can be used for a variety of treatments and in combination with other therapies.
Global Medical Lasers Market Trends:
The global market is primarily driven by the accelerating demand for aesthetic treatments among individuals. This can be attributed to the increasing need to remove tattoos, stretch marks, wrinkles, birthmarks, scars, sunspots, spider veins or hair, and skin resurfacing. Apart from this, the escalating health consciousness among the masses and the rising prevalence of skin conditions, eye diseases, and cancer act major driving factors in the market. Since medical lasers aid in bio-sensing, drug delivery, diagnostics of cancer cells, cancer therapy, and drug delivery, there has been a considerable rise in the overall market. Coupled with this, laser-assisted surgeries are becoming increasingly popular due to their ability to reduce the risks of infection and decrease healing time, which is driving the demand for medical lasers across the globe. In addition, the growing number of patients are opting for minimally invasive treatments, which is propelling the adoption of medical lasers as they are often more cost-effective. Furthermore, key market players are heavily investing in research and development (R&D) to develop low-level green lasers for body fat reduction and breast removal surgeries, thus creating a positive market outlook. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 7.7 Billion by 2028, exhibiting a CAGR of 10.4% during 2023-2028.
- On the basis of the type, the market has been segmented into surgical, cosmetic, dental, and others.
- Based on the product type, the market has been classified into solid-state laser systems (holmium yttrium aluminum garnet laser (Ho:Yag) systems, erbium yttrium aluminum garnet laser (Er:Yag) systems, neodymium yttrium aluminum garnet laser (Nd:Yag) systems, potassium titanyl phosphate laser systems, alexandrite laser systems, and ruby laser systems), gas laser systems (CO2 laser systems, argon laser systems, krypton laser systems, metal vapor (copper and gold) laser systems, helium-neon (He-Ne) laser systems, and excimer laser systems), dye lasers systems and diode laser systems.
- On the basis of the application, the market has been categorized into ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others.
- Based on the end user, the market has been bifurcated into hospitals, specialty clinics, and ambulatory surgical centers.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Artivion Inc., Bausch Health Companies Inc., BIOLASE Inc., Boston Scientific Corporation, Cutera Inc., Ellex Medical Lasers (Lumibird Medical), IRIDEX Corporation, Koninklijke Philips N.V., Lumenis Ltd., Novartis AG, PhotoMedex Inc. and Syneron Medical Ltd.
|Base Year of the Analysis
||Type, Product Type, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Artivion Inc., Bausch Health Companies Inc., BIOLASE Inc., Boston Scientific Corporation, Cutera Inc., Ellex Medical Lasers (Lumibird Medical), IRIDEX Corporation, Koninklijke Philips N.V., Lumenis Ltd., Novartis AG, PhotoMedex Inc. and Syneron Medical Ltd.
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