Report Overview

The global medical laser market was pegged at US$ 3.9 billion in 2021 and is expected to witness a CAGR of 15.20% during the forecast period. 

Market Fundamentals 

Medical lasers use a high-wavelength light source in a single direction to treat or remove tissues. Lasers minimize the risk of inflammation and bleeding during surgical procedures. As against traditional surgical methods, laser surgery reduces the risk of damage to adjacent tissues and chances of bleeding and provides high accuracy. As a result, healing time is reduced, and post-operative discomfort declines compared to traditional surgical methods. The most common laser surgical procedures are the kidney lithotripsy procedure in urology,  root canal, teeth extraction, gum disease treatment in dentistry, LASIK in ophthalmology, and lesion and tumor removal treatments in oncology.

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Market Dynamics

The global medical laser market is mainly driven by increasing rates of complex surgeries, fewer infection chances, increasing demand for minimally invasive surgical procedures, high precision, and growing cases of cancer and ophthalmic diseases. Additionally, medical lasers required less procedure time due to precise cutting, low risk of complications and infections, and improved recovery rate. Moreover, the high adoption rate, high application in varied therapeutic areas, and introduction of artificial intelligence in laser surgeries fuel the growth of the global medical laser market. However, the high cost of device uptake, maintenance and procedures, and risks associated with laser surgery is holding back the growth of the global medical laser market.

Market Ecosystem

The global medical laser market has been analyzed from five perspectives: product types, application, end user and region. 

Medical Laser Market by Product Type

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Based on product types, the global medical laser market has been segmented into solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems. The solid-state laser system is leading the global medical laser market owing to the same technology, availability of different wavelengths, and use in multiple therapeutic areas. Additionally, significant improvements in the performance of solid-state laser systems, high reliability, and technological advancement contribute to the growth of the global solid-state laser systems segment. The diode laser system is expected to show the highest growth in upcoming years owing to its wide use in cosmetic surgical procedures, compact devices, and lower cost of devices.

Medical Laser Market by Application

Based on application, the global medical laser market is segmented into ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others. Ophthalmology dominated the global medical laser market, owing to its profound outcomes in myopia, hyperopia, astigmatism, and presbyopia. Additionally, increasing demand for LAISK surgery and cataract surgery are contributing to the growth of the global medical laser market.

Medical Laser Market by End User

The global medical laser market has been segmented based on diseases into hospitals, specialty clinics, and ambulatory surgical centers. Hospitals are leading the global medical laser market owing to increasing patient footfall for diagnosis and treatment, high-tech healthcare infrastructure, and multispecialty hospitals. Additionally, improving reimbursement policies and the widening availability of advanced surgical devices are contributing to the growth of the global hospital medical laser market.

Medical Laser Market by Region

Based on region, the global medical laser market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global medical laser market, followed by the Asia Pacific. The significant revenue share of North America can be attributed to increasing healthcare expenditure, developed infrastructure, and technological advancement. Additionally, favorable reimbursement policies, the domicile of key players, and the increasing prevalence of chronic diseases in the region contribute to the North American medical laser market. The Asia Pacific is also expected to show exponential growth in the global medical laser market owing to the increasing adoption of technology, growing burden of chronic diseases and cancer diseases, and favorable reimbursement policies.

Competitive Landscape

Some of the prominent players operating in the global medical laser market are 

• Alcon Laboratories Inc.
• American Medical Systems Inc.
• AngioDynamics Corp.
• Bausch & Lomb Holdings
• Biolase Inc
• CANDELA CORPORATION
• Cardiogenesis Corporation Inc.
• Cynosure Inc.
• El.En. S.p.A. 
• Ellex Medical Lasers Ltd.
• IRIDEX Corporation
• Lumenis Ltd.
• Novadaq Technologies Inc.
• Photomedex Inc.
• Sisram Medical Ltd. 
• Spectranetics Corporation
• Syneron-Candela
• Topcon Corporation

Strategic Developments

• In June 2022, LENSAR received the U.S. FDA 510(K) clearance for the next-generation ALLY adaptive cataract treatment system. ALLY is the first device the FDA clears for the femtosecond-laser-assisted cataract surgery (“FLACS”) procedure. 
• In June 2020, Olympus Corporation Launched Fiber Laser System Soltive SuperPlused for kidney stone lithotripsy and delicate surgical procedures.
• In December 2020, IRIDEX launched MicroPulse Transscleral Laser Therapy to treat retinal, glaucoma, and ophthalmic diseases. MicroPulse TLT is a non-invasive procedure that significantly lowering intraocular pressure (IOP) in various glaucoma types and severity. The system is suitable for treating primary open-angle, closed-angle, and refractory glaucoma

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