Access TOC
Get a SampleMay 2024
The global medical laser market size was USD 5.91 billion in 2023, estimated at USD 6.76 billion in 2024 and is anticipated to reach around USD 24.78 billion by 2034, expanding at a CAGR of 13.87% from 2024 to 2034.
The global medical laser market size accounted for USD 6.76 billion in 2024 and is predicted to reach around USD 24.78 billion by 2034, growing at a CAGR of 13.87% from 2024 to 2034.
The U.S. medical laser market size was valued at USD 6.76 billion in 2024 and is expected to be worth around USD 24.78 billion by 2034, at a CAGR of 13.87% from 2024 to 2034.
The North American region accounted largest revenue share of 46% in 2023 and it is expected to grow well during the forecast. As in high preference for cosmetic surgeries and minimally invasive medical procedures there is great demand for these technologies in US and these are the factors that are responsible for the growth of the medical laser in the North American region. For vision correction the laser treatments are extensively used in various regions across North America. There was an expenditure of about 20 billion in US for cosmetic surgeries. Followed by North America Europe is also expected to have a good growth during the forecast period as an increased use of laser treatment for ophthalmic disorders. There is an increased demand for lasers in many countries across Europe especially in Germany.
The Asia Pacific region is also expected to have a great growth during the forecast period as there is development and health care infrastructure and there is increasing number of laser centers in this region. The demand for hair removal procedures and aesthetic lasers are driving the market in the Asia Pacific region.
The use of intense light beam in order to cut burn or destroy a tissue is the medical treatment is called laser therapy it is a non invasive yet an intensive light source in order to treat issues which also heal quickly without scarring the body. There is an increasing demand for laser procedures in developing as well as in the developed countries due to the aesthetic aspect.
The demand for medical laser treatments had dropped down during the pandemic and there was a decline of about 12% due to the pandemic. The demand for these therapies or the use of medical laser dropped down in all the regions across the globe as physical examinations and other surgeries were prohibited due to the pandemic norms.
Growth Factors
In many developing and developed nations there is a demand for minimally invasive cosmetic procedures and this demand is expected to boost the market growth during the forecast period as people are being aware about these surgeries which cause less damage, these surgeries have good recovery rate the demand for the market is growing. Growing technological advancements are expected to drive the market growth.
According to a research firm which is based in the US said that the vision corrective procedures had increased by 48% in the year 2020 there is also an increase in demand for laser procedures in skin care and dermatology. Advanced technological developments have led to the adoption of these minimally invasive procedures for many skin lightening and pigmentation removal procedures does a demand for laser treatments for anti-aging and this is expected to help in the growth of the market during the forecast. As an increased number of disorders across many patients in the world the demand for these non invasive surgeries with the help of laser treatment are likely to help in the growth of the market during the forecast period in both the developing and the developed nations.
Innovative technology and the introduction of new laser treatments for specific areas has driven the market laser treatments are also used for fat reduction the treatment helps in emulsifying the adipose tissue and releases the excess fatty materials. These new technological advancements in this market are propelling the markets growth and the markets shall grow during the forecast period. The woman population is undergoing many skin treatments as the results are faster and they also heal faster. Aesthetic laser treatments are in great demand in the developed nations there are innovations in order to efficiently take out kidney stones with the help of these laser treatments owing to all of these factors the market for laser should grow during the forecast.
Report Scope of the Medical Laser Market
| Report Coverage | Details |
| Market Size by 2034 | USD 24.78 Billion |
| Market Size in 2023 | USD 5.91 Billion |
| Market Size in 2023 | USD 6.76 Billion |
| Market Growth Rate from 2024 to 2034 | CAGR of 13.87% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Product, Type, Application, End User, System, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
The surgical laser market segment accounted revenue share 54% in 2023 and it is also expected to grow at a higher here during the forecast. Increase technological advancements growing implementation of minimally invasive surgeries awareness regarding the availability of surgeries prevailing chronic diseases and the prevailing ophthalmic diseases are all the reasons that have led to a growth in the medical lasers market the surgical laser segment shall grow owing to all of these reasons.
The aesthetic laser market segment is also expected to grow it shall have the second largest share during the forecast. The aesthetic labor market segment accounted 35% market share in 2023. There is an increase in the number of this aesthetic laser treatments or surgeries due to it being minimally invasive with a good recovery rate the dental laser treatment segment is also expected to grow well during the forecast period as an increased awareness amongst the people regarding oral hygiene and increasing dental disorders.
On the basis of the product, the consumable segment is expected to have the largest market share during the forecast period in the recent years the consumables medical laser market had a good growth as an increased demand for consumables used poor laser system it is expected to help in the growth of the consumable segment during the forecast period. Every airport system about 100 to 140 consumables are used and this number shall keep on increasing every year. Due to an increasing demand for various surgeries there's an increase in demand for the consumables which shall help in the growth of the market during the forecast. Many growth opportunities for this medical laser will be provided in many developing nations during the forecast. Different types of lasers are in great demand across the nations these are solid state lasers diode lasers gas lasers dye lasers and other types of lasers.
On the basis of the end user, the hospital and specialty clinics shall have to largest on wages of end users of this medical lasers the specialty clinic shall have the largest market growth during the forecast. Previously in the recent years specialty clinics had accounted for the largest market share in many developing countries as there's an increase in the per capita income and the demand for aesthetic appeal the market for lasers is expected to grow developing nations are also focusing on hospital infrastructure and improving the health care conditions of these regions all of these factors are expected to drive the laser market in developing nations The specialty clinics Future totally devoted to various surgeries that are related to laser are growing well.
Solid State Laser Systems in Limelight
The global medical laser market is classified as solid state laser systems, gas laser systems, dye laser systems, and diode laser systems by system. Among these classified systems, solid state laser systems are anticipated to acquire the highest share of the medical laser market in the years to come. Solid state lasers have various benefits. They are highly efficient in comparison with others, its structure is simpler than others, and these lasers are economically affordable. These benefits are the fueling factors in the growth of this market. The wide usage of these lasers is done in several medical applications to perform studies related to laser radiation in cardiology, ophthalmology, dermatology, and dentistry. These lasers are helpful in the treatment of melisma, removal of scars, and reappearing of skin. These factors have motivated healthcare organizations to make use of these lasers for performing various treatments.
Solid state laser systems are further sub-classified intoholmium yttrium aluminum garnet laser (Ho:Yag) systems,erbium yttrium aluminum garnet laser (Er:Yag) systems, alexandrite laser systems, potassium titanyl phosphate laser systems, ruby laser systems, and Q-switch lasers.Neodymium yttrium aluminum garnet lasers (Nd:YAG),neodymium yttrium aluminum garnet laser (Nd:Yag) systems are able to undergo more levels of tissue in comparison with others, as it contains a wavelength of 1,064 nanometer (nm). These lasers are employed to a big extent of eye and skin diseases. For the treatment of eyes, skin, tattoo and hair removal, etc., healthcare professionals make use of these lasers. These lasers even are a solution for the removal of hairs permanently. Collaborations of numerous organizations with private and regional organizations to glorify the usage of Nd:Yag solid state lasers for diverse medical applications. For example, Harrods Wellness Clinic announced the partnership with Lumenis Ltd. to adorn its aesthetic medical center.
Medical Lasers had a balance of Contrary Forces during the Pandemic
Due to imposed lockdowns across the globe as a precautionary measures for the outburst of the novel coronavirus, there was a monitory downfall for almost all the industries worldwide. Healthcare industry was not an exception to this. Due to lockdowns, supply chains were totally disturbed. Manufacturing plants were temporarily closed, or those which were opened didn’t have enough workforce. Prominent players were concentrating more on R&D operations to supply the certain amount of medications, vaccines, medical equipment. These players were also concentrating on introducing new and inventive products.
Individuals affected by this virus were on priority list in terms of healthcare resources. However, regular services were kept on hold to impede the outbreak of this virus. Various governments across the countries declared lockdowns allowing only necessary services. From the time of lockdowns, hospitals and clinics providing laser services were shut. The global medical laser market did not experience a sharp downturn in comparison with others markets.
On the other hand, populace started rushing towards conducting their laser surgeries. The demand for aesthetic treatment was robust at the time of COVID-19 pandemic. These treatments witnessed an exponential growth. As per the survey done by Aesthetic Society, individuals in America have spent more than $9 Billion over the aesthetic surgeries in the year 2020. In addition, on the basis of the survey dine by the Advanced Cosmetic Surgery & Laser Center located in the U.S., aesthetic procedures like fillers and Botox grew approximately by 90% in the year 2020. The global laser market witnessed a downfall in the revenue growth trajectory, though a few of the segments got a hike in their demand.
Recent Developments
Segments Covered in the report.
By Product
By Type
By End User
By System
By Application
By Geography
For questions or customization requests, please reach out to us at sales@precedenceresearch.com
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
May 2024
March 2024
August 2024
September 2024