Press Release

Medical Laser Systems Market to Grow with a CAGR of 14.73% through 2028

Heightened patient awareness and favorable reimbursement policies are expected to drive the Global Medical Laser Systems Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Medical Laser Systems Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Medical Laser Systems Market stood at USD 4.48 billion in 2022 and is anticipated to grow with a CAGR of 14.73% in the forecast period, 2024-2028. This can be attributed to cosmetic and aesthetic procedures. The growing desire for cosmetic and aesthetic treatments is another significant driver of the medical laser systems market. Laser technology is widely employed in procedures such as skin rejuvenation, hair removal, and tattoo removal. The desire for youthful and flawless appearances is fostering substantial growth in this segment.

Furthermore, the incorporation of advanced user interfaces and augmented reality into medical laser systems is making procedures more intuitive and accurate. Surgeons can visualize the treatment area in real-time, improving precision and patient outcomes.

                                                                                             

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The medical laser system market experienced adverse effects from the COVID-19 pandemic. Healthcare facilities, including hospitals and specialized clinics, were overwhelmed with COVID-19 cases, causing many institutions to delay surgeries and suspend their plans indefinitely. In certain regions, smaller hospitals and specialty clinics were forced to close, while others were converted into COVID-19 treatment and housing facilities. The pandemic disrupted global supply chains, resulting in challenges in the production and distribution of laser systems. International trade restrictions, lockdown measures, and shortages of raw materials and components had a significant impact on device manufacturing and availability, leading to delays in product launches and the overall supply of medical lasers.

To minimize in-person visits and reduce the risk of transmission during the pandemic, remote consultations and telemedicine gained prominence. In some cases, dermatologists and other healthcare providers turned to telemedicine to instruct patients on performing light amplification treatments at home using available handheld devices. This led to a temporary shift in the market towards more portable and patient-centric laser systems.

Despite the challenges posed by the pandemic, research and development activities in the field persisted. The focus shifted towards innovations such as contactless beam technologies, advancements in light radiation diagnostics, and the integration of light amplification with imaging and robotic concepts. Notably, researchers from the National Institute of Standards and Technology (NIST) and CU Boulder have explored and demonstrated a new AI-powered laser-based breathalyzer capable of real-time COVID-19 detection with remarkable accuracy. These developments aimed to enhance patient safety, improve treatment outcomes, and broaden the scope of medical laser applications.

The rising prevalence of chronic diseases, including cancer, cardiovascular disorders, and ophthalmic conditions, has increased the demand for advanced therapeutic options. Medical lasers have become valuable tools due to their capacity to deliver minimally invasive and precise procedures. Furthermore, ongoing advancements in laser technology have led to the development of more efficient and specialized medical laser systems. These innovations have resulted in improved treatment outcomes, reduced recovery times, and an expanded range of procedures that can be performed using laser-based interventions.

There is a clear trend among patients seeking less invasive treatments to minimize scarring, alleviate pain, and expedite recovery. Medical lasers have proven to be effective in providing precise and targeted interventions that minimize damage to surrounding tissues. Additionally, the aging global population has contributed to a higher incidence of age-related conditions such as cataracts, macular degeneration, and skin disorders. Consequently, the use of medical lasers in treating these conditions has surged, driving the demand for laser systems.

The Global Medical Laser Systems Market is segmented into product, application, regional distribution, and company.

Based on its product, the diode lasers category dominated the market in 2022, primarily due to its versatile applications in aesthetic procedures and photodynamic treatments. Diode lasers, which first appeared in 1962, maintain their position as the most energy-efficient and cost-effective laser technology. These lasers are especially favored in the fields of dermatology and dentistry because of their compact size and lower power requirements compared to other optical lasers in the industry.

The solid-state lasers segment is projected to experience the highest CAGR in the foreseeable future, mainly driven by their extensive adoption in dermatology. The solid-state laser system can be further divided into Ho: YAG, Er: YAG, and Nd: YAG variants, which find widespread use in periodontology, tattoo removal, skin treatments, and vein removal procedures. Regulatory authorities closely oversee solid-state laser systems to ensure safety and effectiveness. Different countries have their own regulatory bodies and approval processes for medical devices, including lasers.

Based on application, the dermatology sector secured the top spot in the market, boasting the highest revenue share. Within the field of medical lasers applied to dermatology and aesthetics, various procedures were prevalent, including laser hair removal, tattoo removal, skin rejuvenation, scar correction, fat reduction, addressing age-related skin issues, dermal tightening, treating vascular lesions, and more. Other segments within this domain encompass orthopedics, wound healing, biosensing, and general surgery.

The cardiovascular sector is poised to experience the most rapid CAGR in the forecast period spanning from 2023 to 2030. This is attributed to the increasing incidence of heart-related conditions such as age-related macular edema, coronary infarction, cardiac arrest, and artery diseases. In 2022, the ophthalmology sector contributed significantly to the overall revenue, with medical laser systems widely employed in vision correction surgeries like LASIK and PRK, as well as the treatment of various eye disorders such as glaucoma and diabetic retinopathy.

Major companies operating in Global Medical Laser Systems Market are:

  • Luminex Corp
  • PhotoMedex Technology Inc
  • Philips Healthcare Ltd
  • Biolase Inc
  • IRIDEX Corporation
  • BioForm Medical, Inc.
  • Biolitec AG
  • Cutera Inc
  • Candela Corp
  • Cynosure LLC

 

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“The global medical laser systems market is witnessing a wave of transformative trends that promise to reshape the healthcare industry. The trends encompass innovative laser technologies, personalized medicine, robotics, telemedicine, eco-friendly systems, and advanced user interfaces. As the industry continues to adapt and grow, patients can look forward to an era of more precise, less invasive, and accessible medical laser treatments, improving healthcare outcomes and patient experiences,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Global Medical Laser Systems Market By Product (Diode Lasers, Solid State Lasers, Gas Lasers, Dye Lasers), By Application (Dermatology, Ophthalmology, Gynecology, Urology, Dentistry, Cardiovascular, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Medical Laser Systems Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Medical Laser Systems Market.

 

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