Medical Lasers Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The Global Medical Lasers Market size was valued at USD 4.98 billion in 2023 and is projected to reach USD 9.85 billion by 2030. The market is also estimated to grow at a CAGR of around 9.61% during the forecast period, i.e., 2024-30.
In recent times, high protein diets, unhealthy lifestyle practices, excess body weight, less water intake, medical conditions, previous intestinal surgeries, medications, etc., have resulted in many people suffering from kidney stones. As the condition is associated with a tremendous amount of pain and discomfort and in severe cases resulting in kidney failure, patients tend to go for stone removal procedures which involve the usage of medical lasers. Considering that, the market for Medical Lasers has been witnessing growth globally.
Markntel Advisor’s Medical Lasers Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Medical Lasers Market drivers, barriers, Medical Lasers Market Trends, and Key Players in Medical Lasers Market.
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Medical Lasers Market Dynamics: 2024-2030
Medical Lasers Market Driver:
Increasing Prevalence of Ophthalmological Diseases – Worldwide, there has been a surge in the number of eye-related diseases such as cataracts & glaucoma. As a result, the need for laser eye surgeries or vision surgeries to treat eye diseases, prevent further loss of sight, and restore vision has increased. This has successfully augmented the demand for medical lasers, thereby positively impacting the overall market growth.
The number of old age people is increasing globally as evidenced by the World Bank data which stated 805,167,113 people were aged 65 and above in 2023, up from 737,239,689 in 2020. This rise in aged individuals has further propelled the market growth of medical lasers. This is because with increasing age the risk for some eye diseases like cataracts, AMD, etc. increases, and those aged individuals require laser surgeries to be able to see again clearly. The fact mentioned by the National Eye Institute also highlights that people aged 55 and older are most likely to have AMD. Hence, considering the aforementioned factors, the Global Medical Lasers Market has been witnessing tremendous growth and would continue with positive growth in the coming years as well.
Medical Lasers Market Challenge:
Stringent Regulations for Medical Lasers to Restrict Market Growth – The stringent regulations set by the government authorities of varying nations including the US FDA, European Medicine Agency, CDSCO, etc. have been restricting the growth of the market. These regulations although are intended for the safety of humans, but the complete process starting from registration, involving clinical & non-clinical studies, to commercialization is highly tedious. Companies tend to struggle to introduce their innovative or new products in the market. Also, this not only hampers market growth but also restricts patients from getting better treatment methods. Further, updates in regulatory guidelines of medical lasers periodically by the authorities create complications for companies who find it hard to comply with newly added regulations. All this negatively impacts the growth of the Global Medical Lasers Market.
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Medical Lasers Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
· By Technology
o Solid-State Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ ER: YAG Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ ND: YAG Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ HO: YAG Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ Alexandrite Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ Others- Market Size & Forecast 2019-2030, (USD Million)
o Gas Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ CO2 Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ Argon Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ Krypton Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ Excimer Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
§ Others- Market Size & Forecast 2019-2030, (USD Million)
o Pulsed Dye Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
o Diode Laser Systems- Market Size & Forecast 2019-2030, (USD Million)
o Others- Market Size & Forecast 2019-2030, (USD Million)
· By Application
o Aesthetics/Cosmetics Applications
§ Hair Removal- Market Size & Forecast 2019-2030, (USD Million)
§ Tattoo Removal- Market Size & Forecast 2019-2030, (USD Million)
§ Acne and Scan Removal- Market Size & Forecast 2019-2030, (USD Million)
§ Others- Market Size & Forecast 2019-2030, (USD Million)
o Dermatology Applications- Market Size & Forecast 2019-2030, (USD Million)
o Dental Applications- Market Size & Forecast 2019-2030, (USD Million)
o Urology Applications- Market Size & Forecast 2019-2030, (USD Million)
o Ophthalmology Applications- Market Size & Forecast 2019-2030, (USD Million)
o OB/GYN Applications- Market Size & Forecast 2019-2030, (USD Million)
o Oncology Applications- Market Size & Forecast 2019-2030, (USD Million)
o Cardiovascular Applications- Market Size & Forecast 2019-2030, (USD Million)
o Others- Market Size & Forecast 2019-2030, (USD Million)
According to report, Out of all, the oncology category held a significant market share.
· By End-User
o Hospitals and Surgical Centers- Market Size & Forecast 2019-2030, (USD Million)
o Dermatology and Dental Clinics- Market Size & Forecast 2019-2030, (USD Million)
o Medical & Beauty Spas- Market Size & Forecast 2019-2030, (USD Million)
o Home-use and Self-care- Market Size & Forecast 2019-2030, (USD Million)
o Others- Market Size & Forecast 2019-2030, (USD Million)
According to report, Among all, the hospitals and surgical centers segment held the largest market share.
By Region
· North America
· South America
· Europe
· The Middle East & Africa
· Asia-Pacific
Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Top Companies Operating in the Medical Lasers Market:
· Boston Scientific Corporation
· Johnson & Johnson Vision Care, Inc.
· Alcon Inc.
· Carl Zeiss Meditec Ag
· Candela Corporation
· Lumenis Be Ltd.
· Cutera, Inc
· Bausch Health Companies Inc.
· El.En. S.P.A.
· Alma Lasers
· Fotona
· Ipg Photonics Corporation
· Bison Medical
· AMD Lasers
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