Medical Laser Market Introduction

The medical laser market refers to the use of lasers in medical procedures and treatments. Lasers are used in a variety of medical fields, including ophthalmology, dermatology, oncology, cardiology, and dentistry. Medical lasers offer several advantages over traditional surgical techniques, including reduced bleeding, less scarring, and shorter recovery times. The market includes various types of medical lasers, such as diode lasers, carbon dioxide (CO2) lasers, argon lasers, and excimer lasers, among others. These lasers are used for applications such as skin resurfacing, tattoo removal, hair removal, cataract treatment, and tumor removal.

Medical Laser Market Size

The global medical laser market size was valued at USD 4.6 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.5% from 2021 to 2028, reaching a projected value of USD 12.7 billion by the end of the forecast period.The growth of the medical laser market can be attributed to several factors, including increasing prevalence of chronic diseases, technological advancements in medical lasers, rising adoption of non-invasive surgical procedures, and growing demand for aesthetic treatments.Furthermore, the COVID-19 pandemic has also had a positive impact on the medical laser market, as the demand for non-invasive and minimally invasive procedures increased during the pandemic due to the need for social distancing and the reduction of hospital visits.Based on the product type, the solid-state laser segment dominated the medical laser market in 2020, due to its high efficiency, reliability, and cost-effectiveness.Geographically, North America held the largest share of the medical laser market in 2020, due to the increasing adoption of advanced medical technologies, high healthcare expenditure, and favorable reimbursement policies. However, the Asia Pacific region is expected to witness the highest growth during the forecast period, due to the increasing focus on healthcare infrastructure development, rising healthcare spending, and growing medical tourism industry in the region.

Medical Laser Market Share

The global medical laser market was dominated by a few key players, including:

Lumenis Ltd.

Alma Lasers Ltd.

Cynosure (a subsidiary of Hologic, Inc.)

Cutera, Inc.

Hologic, Inc.

Fotona d.o.o.

Syneron Medical Ltd.

Sciton, Inc.

Bausch Health Companies, Inc.

Biolase, Inc.

However, the market is highly competitive, with numerous other companies operating in various segments of the market, such as aesthetic lasers, surgical lasers, and dental lasers. The market share of these companies may fluctuate depending on product innovation, pricing, and marketing strategies. 

Medical Laser Market Trends

Some of the current trends in the medical laser market include:

Increasing demand for non-invasive procedures: Patients prefer non-invasive or minimally invasive procedures that are less painful, require less recovery time and have fewer side effects. Medical lasers offer these benefits and are therefore in high demand for a wide range of procedures.Advancements in technology: Advances in laser technology have led to the development of more efficient, precise and versatile medical lasers. This has expanded the applications of medical lasers in various medical fields and has made them more effective in treating a range of medical conditions.Growing aging population: The aging population is more susceptible to certain medical conditions, such as skin conditions, vision problems, and age-related diseases. Medical lasers offer effective treatment options for these conditions, which is driving the growth of the medical laser market.Increasing adoption of cosmetic treatments: There is a growing demand for cosmetic treatments such as hair removal, skin resurfacing, and tattoo removal. Medical lasers are increasingly being used for these treatments as they offer precise and effective results with minimal discomfort and downtime.Rising prevalence of chronic diseases: The prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases is increasing globally. Medical lasers are used in the diagnosis and treatment of these diseases, which is driving the demand for medical lasers.Favorable reimbursement policies: Many countries have favorable reimbursement policies for medical laser procedures, which is driving the demand for these procedures and fueling the growth of the medical laser market.

Medical Laser Market Driving Factors

There are several driving factors behind the growth of the medical laser market, including:

Increasing prevalence of chronic diseases: The prevalence of chronic diseases, such as cancer, cardiovascular diseases, and ophthalmic disorders, is increasing worldwide. Medical lasers are widely used in the treatment of these diseases, as they offer several benefits, such as non-invasiveness, high precision, and minimal damage to surrounding tissues.Technological advancements in medical lasers: Advancements in laser technology, such as the development of solid-state lasers, fiber lasers, and diode lasers, have led to the development of more efficient, reliable, and cost-effective medical lasers. This has increased the adoption of medical lasers in various applications, such as diagnosis, surgery, and aesthetics.Rising adoption of non-invasive surgical procedures: Non-invasive surgical procedures, such as laser therapy, have gained popularity in recent years, as they offer several benefits over traditional surgical procedures, such as reduced recovery time, minimal pain, and lower risk of complications.Growing demand for aesthetic treatments: The growing demand for aesthetic treatments, such as skin resurfacing, hair removal, and tattoo removal, has led to the increasing adoption of medical lasers in the cosmetic industry.Favorable reimbursement policies: Governments and private insurance companies are increasingly providing reimbursement for medical laser procedures, which has increased the affordability and accessibility of these procedures, especially in developed countries.Impact of COVID-19 pandemic: The COVID-19 pandemic has led to an increased demand for non-invasive and minimally invasive procedures, as patients seek to avoid hospital visits and reduce the risk of infection. This has led to an increased adoption of medical lasers in various applications, such as remote patient monitoring and telemedicine.

Medical Laser Market Regional Analysis

The medical laser market can be analyzed based on different regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

North America is expected to hold a significant share in the medical laser market owing to the increasing prevalence of chronic diseases, rising geriatric population, and increasing demand for non-invasive cosmetic procedures. Moreover, the presence of key market players in this region is also driving the growth of the market.The Asia-Pacific region is expected to witness significant growth in the medical laser market during the forecast period due to the growing demand for advanced medical treatments, increasing healthcare expenditure, and rising awareness about the benefits of laser technology in medical applications.Europe is also expected to hold a significant share in the medical laser market due to the presence of well-established healthcare infrastructure, growing geriatric population, and rising demand for non-invasive procedures.Latin America and the Middle East & Africa are also expected to witness significant growth in the medical laser market during the forecast period due to the increasing adoption of advanced medical technologies and growing healthcare expenditure in these regions.

Medical Laser Market Forecasts 2030 

The global medical laser market is expected to grow at a compound annual growth rate (CAGR) of 14.5% from 2021 to 2028, reaching a projected value of USD 12.7 billion by the end of the forecast period.The growth of the medical laser market is expected to be driven by several factors, including the increasing prevalence of chronic diseases, technological advancements in medical lasers, rising adoption of non-invasive surgical procedures, and growing demand for aesthetic treatments.Based on the product type, the solid-state laser segment is expected to dominate the medical laser market during the forecast period, due to its high efficiency, reliability, and cost-effectiveness.Geographically, North America is expected to continue to hold the largest share of the medical laser market during the forecast period, due to the increasing adoption of advanced medical technologies, high healthcare expenditure, and favorable reimbursement policies. However, the Asia Pacific region is expected to witness the highest growth during the forecast period, due to the increasing focus on healthcare infrastructure development, rising healthcare spending, and growing medical tourism industry in the region.

Medical Laser Market Key Industry Players

Some key industry players in the medical laser market are:

Alma Lasers

Bausch Health Companies Inc.

Cynosure LLC

El.En. S.p.A

Hologic Inc.

Lumenis Ltd.

Merz Pharma GmbH & Co. KGaA

Quanta System S.p.A

Sciton Inc.

Syneron Medical Ltd.