Medical Laser Market to Be Worth $17.3 Billion by 2031 - Exclusive Report by Meticulous Research®

REDDING, Calif., June 10, 2024 /PRNewswire/ -- According to a new market research report titled, 'Medical Laser Market by Type (Device Type (Solid-state Lasers, Gas Lasers, Dye Lasers, Diode Lasers), Fiber Type (Disposable Laser Fibers, Reusable Laser Fibers)), Application (Device, Fiber), and Geography—Global Forecast to 2031,' the medical laser market is projected to reach $17.3 billion by 2031, at a CAGR of 17.6% from 2024–2031.

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Medical lasers are devices that use precisely focused light sources for treating or removing tissues. Since lasers can focus accurately on tiny areas, they are used for precise surgical works or for cutting through tissue in place of a scalpel. Lasers are commonly employed in many medical disciplines, including dermatology, dentistry, cardiology, neurosurgery, and eye surgery, because of their ability to deliver high-precision treatments while remaining minimally invasive. Laser-based therapies and diagnostic methods represent an area of huge future potential. The increasing number of cosmetic procedures, rising preference for minimally invasive procedures, and increasing prevalence of eye disorders are the major factors supporting the growth of the market.

The growth of medical tourism is expected to provide significant growth opportunities for market players. However, factors such as the high cost of lasers, stringent safety regulations, and risks associated with lasers are expected to hamper the growth of the market.

The medical laser market is segmented by type (device type (solid-state laser devices (neodymium yttrium aluminum garnet laser devices (Nd:YAG), erbium yttrium aluminum garnet laser devices (Er:YAG), holmium yttrium aluminum garnet laser devices (Ho:YAG), alexandrite laser devices, potassium titanyl phosphate laser devices, ruby laser devices), gas laser devices (CO2 laser devices, excimer laser devices, argon laser devices, helium-neon (he-ne) laser devices, krypton laser devices, metal vapor (copper and gold) laser devices), diode laser devices, dye laser devices), fiber type (disposable laser fibers, reusable laser fibers)), application (device application (dermatology, ophthalmology, urology, dentistry, cardiology, gynecology, other device applications), fiber application (general surgeries, urology, dermatology, gynecology, cardiology, dentistry, other fiber applications)). The study also evaluates industry competitors and analyzes the market at the regional and country levels. The study also evaluates industry competitors and analyzes the market at geographical levels.

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Based on type, the medical laser market is segmented into device type and fiber type. In 2024, the device type segment is expected to account for the larger share of the medical laser market. However, the fiber type segment is projected to register the highest CAGR during the period.

Based on device type, the medical laser devices market is segmented into solid-state laser devices, gas laser devices, diode laser devices, and dye laser devices. In 2024, the solid-state laser devices segment is expected to account for the largest share of around 45% of the medical laser devices market. The large market share of this segment is attributed to the increasing use of solid-state lasers in medical applications, such as treatment processes for scar removal, melisma treatment, and skin resurfacing, which has encouraged various healthcare facilities to adopt these lasers for performing treatments. Various advantages associated with solid-state lasers, such as high efficiency compared to gas lasers, simple construct than to other lasers, and economical nature of solid-state lasers, are driving the growth of this segment.

Based on fiber type, the medical laser fibers market is segmented into disposable laser fibers and reusable laser fibers. In 2024, the disposable laser fibers segment is expected to account for the larger share of around 75% of the medical laser fibers market. The large market share of this segment is attributed to the increasing use of laser fiber in diagnostic procedures, rising demand for non-invasive surgical procedures, the effective cost of disposable laser fibers, and increasing number of urologic and plastic surgery procedures

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Based on application, the medical laser market is segmented into device application and fiber application. In 2024, the device application segment is expected to account for the larger share of the medical laser market. However, the fiber application segment is projected to register the highest CAGR during the period.

Based on device application, the medical laser devices market is segmented into dermatology, ophthalmology, urology, dentistry, cardiology, gynecology, and other device applications. In 2024, the dermatology segment is expected to account for the largest share of around 30% of the medical laser devices market. The large market share of this segment is attributed to the increasing number of cosmetic surgeries simultaneously increasing the use of medical lasers in these treatments and increasing integration of AI technology for dermatology applications. These lasers are used for various treatments, such as vascular lesions, pigmented lesions and tattoos, hair removal, facial wrinkles, scars, sun-damaged skin, and skin cancers.

Based on fiber application, the medical laser fibers market is segmented into general surgeries, urology, dermatology, gynecology, cardiology, dentistry, and other fiber applications. In 2024, the general surgeries segment is expected to account for the larger share of above 27% of the medical laser fibers market. The large market share of this segment is attributed to the growing prevalence of colon cancer, appendicitis procedures, pancreatic cancer, and small and large intestine cancers. Medical laser fibers perform highly efficient surgeries and reduce the risk of cross-contamination between surgeries, increasing the demand for medical laser fibers.

Based on geography, the medical laser market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of around 45% of the medical laser market. The market growth in North America is driven by the presence of major vendors in the region, technological advancements in medical devices, government investments to promote innovation in the healthcare segment and the exponential growth of aesthetic/cosmetic procedures. The aging population in the U.S. is creating the need for major surgeries related to geriatric populations, such as ophthalmic surgeries, including cataracts, glaucoma, cardiovascular surgeries, and urological surgeries, driving the demand for medical lasers in this region.

The key players operating in the medical laser market are Lumenis Ltd. (Israel), Fotona d.o.o. (Slovenia), BIOLASE, Inc. (U.S.), IRIDEX Corporation (U.S.), Cutera, Inc. (U.S.), Alna-Medicalsystem AG & Co. KG (Germany), Bausch & Lomb Incorporated (U.S.), Boston Scientific Corporation (U.S.), Alcon, Inc. (Switzerland), Stryker Corporation (U.S.), Alma Lasers (Israel), biolitec AG (Germany), Bluecore, Inc. (South Korea), Cynosure LLC (U.S.), PhotoMedex (U.S.) and Spectranetics (U.S.) MED-Fibers, INC.(U.S.), Clarion Medical Technologies (Canada), Olympus Corporation (Japan).

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Scope of the Report:

Medical Laser Market Assessment—by Type

• Device Type
  • Solid-State Laser Devices
    • Neodymium Yttrium Aluminum Garnet Laser Devices (Nd:YAG)
    • Erbium Yttrium Aluminum Garnet Laser Devices (Er:YAG)
    • Holmium Yttrium Aluminum Garnet Laser Devices (Ho:YAG)
    • Alexandrite Laser Devices
    • Potassium Titanyl Phosphate Laser Devices
    • Ruby Laser Devices
  •  Gas Laser Devices
    • CO2 Laser Devices
    • Excimer Laser Devices
    • Argon Laser Devices
    • Helium-Neon (He-Ne) Laser Devices
    • Krypton Laser Devices
    • Metal Vapor (Copper and Gold) Laser Devices
  • Diode Laser Devices
  • Dye Laser Devices
• Fiber Type
  • Disposable Laser Fibers
  •  Reusable Laser Fibers

Medical Laser Market Assessment—by Application

• Device Application
  • Dermatology
  • Ophthalmology
  • Urology
  • Dentistry
  • Cardiology
  • Gynecology
  • Other Device Applications
• Fiber Application
  • General Surgeries
  • Urology
  • Dermatology
  • Gynecology
  • Cardiology
  • Dentistry
  • Other Fiber Applications

 Medical Laser Market Assessment—by Geography 

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Israel
  • Rest of Middle East & Africa

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