PUBLISHER: The Business Research Company | PRODUCT CODE: 1387728
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387728
“Medical Lasers Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on medical lasers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for medical lasers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The medical lasers market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Medical lasers are specialized devices used for the precise treatment or removal of tissues through the focused emission of light.
The primary categories of medical lasers include solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems. Solid-state laser systems utilize a solid medium as the gain medium, in contrast to liquid (as seen in dye lasers) or gas (as in gas lasers). These medical lasers find applications in various fields, including surgical, cosmetic, and dental procedures. They are employed by a range of healthcare specialists, such as ophthalmologists, dermatologists, gynecologists, dentists, urologists, cardiovascular specialists, and others.
The medical lasers market research report is one of a series of new reports from The Business Research Company that provides medical lasers market statistics, including medical lasers industry global market size, regional shares, competitors with a medical lasers market share, detailed medical lasers market segments, market trends and opportunities, and any further data you may need to thrive in the medical lasers industry. This medical lasers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The medical lasers market size has grown rapidly in recent years. It will grow from $6.33 billion in 2023 to $7.26 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth observed during the historic period can be attributed to several key factors, including the increasing prevalence of chronic diseases, an aging population, the rising popularity of minimally invasive medical procedures, a growing demand for aesthetic and cosmetic treatments, and the continuous expansion of medical applications for lasers.
The medical lasers market size is expected to see rapid growth in the next few years. It will grow to $12.06 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The expected growth in the forecast period can be attributed to various factors, including the expansion of healthcare infrastructure, the increasing demand for personalized medicine, rising patient awareness and demand for laser-based treatments, and the growing awareness of medical lasers among healthcare providers and patients. Notable trends anticipated during the forecast period encompass advancements in laser technology, including developments in fiber and diode lasers, the utilization of telemedicine and remote surgical applications, the use of nanosecond and picosecond lasers, and the adoption of green and yellow lasers in medical procedures.
The growing demand for minimally invasive procedures has been a significant driver of the medical lasers market's expansion in recent years. The increasing popularity of aesthetic and cosmetic treatments worldwide has led to a surge in demand for minimally invasive surgical techniques. According to an article published by Beautynews in April 2021, the USA witnessed around 56,084 facial plastic surgery procedures in 2020, with the brow lift procedure alone accounting for nearly 31,404 cases. This widespread use of medical lasers for minimally invasive aesthetic and cosmetic surgeries has significantly boosted the demand for medical lasers in the market.
The expansion of dental treatment services is expected to be a key driver of future growth in the medical lasers market. Dental treatment services encompass various procedures and interventions conducted by dental professionals to maintain and enhance oral health. Factors contributing to the growth of dental treatment services include increasing awareness of dental health, an aging population, a growing interest in cosmetic dentistry, and technological advancements in the field. For example, according to an article published by the Centers For Disease Control and Prevention in September 2023, over 80% of individuals will have experienced at least one cavity by the age of 34, with up to 10% of children aged 2 to 5 having untreated cavities, and more than 90% of adults having had cavities. The nation's annual expenditure on dental care-related costs exceeds $124 billion. Consequently, the expansion of dental treatment services is anticipated to be a major driver of growth for the medical lasers market in the coming years.
The high cost of surgeries poses a limitation to the growth of the medical laser market. The elevated costs associated with medical laser treatments have restricted their adoption and demand, particularly for minimally invasive surgeries. As an example, the average cost of LASIK surgery in the USA was $1,500 per eye in 2021. Therefore, the consistently high cost of such procedures is likely to act as a hindrance to the growth of the medical lasers market.
Prominent companies in the medical lasers market are introducing innovative laser equipment like the ULTRApulse Alpha to gain a competitive advantage. The ULTRApulse Alpha combines the benefits of CO2 laser technology with a sophisticated yet user-friendly platform, allowing aesthetic providers to effectively address a wide range of medical indications. For instance, in March 2023, Lumenis, an Israel-based company specializing in energy-based solutions for the aesthetic and vision sectors, launched the ULTRApulse Alpha CO2 laser in the UK market. This advanced laser system features a modern and user-friendly Graphical User Interface (GUI) equipped with presets and intelligent automation capabilities for a variety of treatments, including skin resurfacing, scar revision, and less invasive aesthetic procedures such as Blepharoplasty.
Key players in the market are committed to developing innovative products that incorporate advanced techniques to better serve healthcare professionals and their patients. For example, in March 2021, Solta Medical, a division of Bausch Health, introduced the Clear + Brilliant Touch Laser, a laser system that offers a more comprehensive treatment protocol by utilizing two wavelengths and streamlining the treatment process.
In October 2021, Laser MD Medspa, a US-based provider of medical spa services, acquired Young Medical Spa for an undisclosed amount. This acquisition expanded the company's presence in Pennsylvania by adding four new locations. Young Medical Spa is a US-based provider of a full range of cosmetic and aesthetic treatments, including laser hair removal and botox treatments, among others.
Major companies operating in the medical lasers market include El.En. S.p.A., Ellex Medical Lasers Ltd., Lumenis, Alcon Laboratories Inc., AngioDynamics Corp., American Medical Systems Inc., Biolase Inc., Bausch & Lomb Holdings, Cardiogenesis Corporation Inc., Boston Scientific Corporation, IRIDEX Corp., Novadaq Technologies Inc., Photomedex Inc., Spectranetics Corporation, Syneron Candela, Cryolife Inc., Novartis AG, Topcon Corporation, Fotona d.o.o., Sisram Medical Ltd., Kern Electronics & Lasers, Boss Laser LLC., Automark, Corning Incorporated, Coherent Inc., IPG Photonics Corporation, Jenoptik AG, Lumibird Medical, Iridex Corporation, Mevion Medical Systems, Vision RT, IsoRay Inc., RefleXion Medical, Alpha Tau Medical, Nanobiotix S.A.
North America was the largest region in the medical lasers market in 2023. Asia-Pacific was the second-largest region in the global medical lasers market share. The regions covered in the medical lasers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the medical lasers market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The medical lasers market consists of sales of solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.