Medical Laser Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Medical Laser Market is Segmented by Product Type (Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, and Semiconductor Laser Systems), Application, and Geography.

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 13.4 %

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Market Overview

The growth of the medical laser market is attributed to the rising preference for minimally invasive procedures, increasing incidences of eye disorders, and an increase in the number of cosmetic procedures.

The rising demand for surgeries with faster recovery, fewer post-surgery infections, less pain, reduced scarring, better control on bleeding, and increased accuracy are anticipated to boost the demand for various endoscopy devices. Technological advances in surgical techniques and enhancement in equipment handling have transformed surgical procedures, including the introduction of minimally invasive surgeries.

These procedures usually provide equivalent outcomes to traditional open surgery, along with offering significant benefits, such as less major bleeding, fewer post-op infections, fewer complications, shorter length of stay, quicker return to normal activities, less scarring, and comparable/lower cost, among other such benefits. As a result, these procedures have become more popular in recent times. Aging patients are fragile, and thus, the use of minimally invasive devices (while performing surgeries) becomes important. Hence, the increase in the prevalence of geriatric population is also driving the market.

Scope of the Report

As per the scope of this report, medical lasers are medical devices that are used for the treatment of various diseases and tissue removal. These devices help in medical diagnosis, treatments, and therapies.

By Product Type
Solid State Laser Systems
Gas Laser Systems
Dye Laser Systems
Semiconductor Laser Systems
By Application
Ophthalmology
Dermatology/Aesthetics
Gynecology
Dentistry
Urology
Cardiovascular
Other Applications
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Semiconductor is Expected to Hold the Largest Revenue in the Products Segment

The semiconductor segment has a maximum share in the market, as these semiconductors are widely used in aesthetic procedures and photodynamic treatment. Furthermore, semiconductor laser systems offer the deepest penetration levels and superior melanin absorption. These unique characteristics make the semiconductor laser the most suitable technology for laser hair removal, hence, enabling safe and effective treatment of all skin and hair types in all body areas. With the increase in the number of cosmetic surgeries performed annually, both in developing and developed nations, the growth of this segment is increasing too, and cosmetic-based companies observe a lot of opportunities to grow in this segment.

cosmetic procedures

North America Holds the Largest Market Share of the Market and it is Estimated to Follow the Same Trend over the Forecast Period

The North American medical laser market dominated the global market, and it is estimated to show a similar trend during the forecast period. The increasing preference for cosmetic procedures and the high adoption rate of novel technologies are the primary factors behind the large market size. For instance, according to the 2018 Plastic Surgery Statistics report, 17.7 million cosmetic procedures were performed in the year, a 2% increase from the previous year.

Asia-Pacific is expected to grow at a rapid pace over the forecast period, owing to the increasing healthcare expenditure, increasing awareness, and the trend of medical tourism in the developing economies of the region.

Medical Laser Market - Growth Rate by Region

Competitive Landscape

The medical laser market consists of several major players, including Bausch & Lomb Incorporated, Koninklijke Philips NV, and IRIDEX Corporation. The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships, which may help them in strengthening their market positions. For instance, in February 2018, Lumenis launched Pico Fractional, a photoacoustic fractional laser system for skin resurfacing procedure.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Preference for Minimally Invasive Procedures

      2. 4.2.2 Increasing Burden of Eye Disorders

      3. 4.2.3 Increase in the Number of Cosmetic Procedures

    3. 4.3 Market Restraints

      1. 4.3.1 High Installation Costs

      2. 4.3.2 Stringent Safety Regulations

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Solid State Laser Systems

      2. 5.1.2 Gas Laser Systems

      3. 5.1.3 Dye Laser Systems

      4. 5.1.4 Semiconductor Laser Systems

    2. 5.2 By Application

      1. 5.2.1 Ophthalmology

      2. 5.2.2 Dermatology/Aesthetics

      3. 5.2.3 Gynecology

      4. 5.2.4 Dentistry

      5. 5.2.5 Urology

      6. 5.2.6 Cardiovascular

      7. 5.2.7 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Bausch & Lomb Incorporated

      2. 6.1.2 Koninklijke Philips NV

      3. 6.1.3 IRIDEX Corporation

      4. 6.1.4 Biolase Inc.

      5. 6.1.5 Syneron-Candela

      6. 6.1.6 Lumenis Ltd

      7. 6.1.7 Alcon Laboratories Inc.

      8. 6.1.8 Cutera Inc.

      9. 6.1.9 American Medical Systems

      10. 6.1.10 PhotoMedex Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Medical Laser Market market is studied from 2018 - 2026.

The Medical Laser Market is growing at a CAGR of 13.4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Bausch & Lomb Incorporated, Koninklijke Philips NV, Lumenis Ltd, Alcon Laboratories Inc., Syneron-Candela are the major companies operating in Medical Laser Market.

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