The medical lasers market consists of sales of medical lasers and related services by entities (organizations, sole traders, and partnerships) that manufacture medical lasers. Medical lasers are devices that treat or remove tissues using precisely focused light sources. Medical lasers find their applications in several surgical procedures including eye surgery, cosmetic surgery, dental procedures, and other general procedures.
The global medical lasers market is expected to decline from $5.22 billion in 2019 to $4.99 billion in 2020 at a compound annual growth rate (CAGR) of -4.33%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $6.92 billion in 2023 at a CAGR of 11.52%.
