Medical Laser Market to Reach $17073.8 Million, by 2032 at 11.3% CAGR: Allied Market Research

Medical lasers are advanced devices that utilize the principles of stimulated emission of light to produce intense, focused beams of monochromatic light. These highly concentrated beams of light find diverse applications in the field of medicine, ranging from diagnostic procedures to therapeutic interventions.

PORTLAND, Ore., Nov. 30, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Medical Laser Market by Product Type (Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, and Diode Laser Systems), Application (Ophthalmology Lasers, Surgical Lasers, Aesthetic and Dermatology Lasers, And Others), and End User (Hospital, Dermatology and Cosmetic Clinics, Ophthalmic Clinics, and Others), Global Opportunity Analysis and Industry Forecast, 2023–2032."According to the report, the global Medical Laser Market was valued at $5753.8 million in 2022 and is estimated to reach $17073.8 million by 2032, exhibiting a CAGR of 11.3% from 2023 to 2032.

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Prime determinants of growth

The Medical Laser Market has experienced significant growth due to surge in prevalence of chronic diseases, high adoption of medical lasers by healthcare professionals, and technological advancement in the medical laser technology.

Report coverage & details:

 
Economic Downturn Analysis: Impact of Recession in 2023 on the Medical Laser Market

• The global recession has significant impact on medical laser market.
• The high inflation rate and the layoffs has impacted the new product development and research activities.
• However, market for medical laser market is expected to recover owing to high adoption of medical lasers for various surgical and cosmetic applications.

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The solid-state laser systems segment to maintain its leadership status throughout the forecast period

By product type segment, the solid-state laser systems segment held the highest market share in 2022, accounting for more than one third of medical laser market revenue, owing to high adoption of solid-state laser segment by healthcare professionals.

The surgical lasers segment to maintain its leadership status throughout the forecast period.

By application, the surgical lasers segment held the highest market share in 2022, accounting for more than one third of medical laser market revenue. This is attributed to high adoption medical lasers for surgical application due to its accuracy and efficiency.

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The hospital segment to maintain its leadership status throughout the forecast period

By end user, the hospital segment held the highest market share in 2022, accounting for two-fifth of medical laser market revenue. This is attributed to high adoption of medical laser for surgical applications.

The North America segment to maintain its leadership status throughout the forecast period

By region, the North America segment held the highest market share in 2022, accounting for two-fifth of the medical laser market revenue. This is attributed to increase in demand for medical lasers for cosmetic applications, and strong presence of major key players.

Leading Market Players: -

• Bausch Health Companies, Inc
• Boston Scientific Corporation
• Koninklijke Philips N.V
• Novartis AG
• Biolase Inc
• Iridex corporation
• Artivion, Inc
• Lumibird Medical
• Candela Corporation
• Cynosure, LLC

The report provides a detailed analysis of these key players in the Medical Laser Market. These players have adopted different strategies such as p product approval and acquisition to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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