What Is The Current and Historic Market Size Analysis Of The Medical Lasers Market?
The medical lasers market has seen considerable growth due to a variety of factors.
• In recent years, the medical lasers market has experienced significant expansion. Projected to increase from $7.08 billion in 2024 to $8.05 billion in 2025, it's expected to exhibit a compound annual growth rate (CAGR) of 13.8%.
Factors driving growth during this historical period include the rise in chronic diseases, an aging populace, an uptick in minimally invasive operations, increased interest in aesthetic and cosmetic procedures, and a broader scope of medical applications.
What Is The Forecast For The Medical Lasers Market Size?
The medical lasers market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the medical lasers market is predicted to experience fast expansion. It's projected to reach a value of $13.57 billion by 2029, with a compound annual growth rate (CAGR) of 13.9%.
This progression in the forecasted period can be credited to the expansion of healthcare infrastructure, escalating demand for individualized medicine, and heightened patient awareness and demand. Additionally, increased knowledge of medical lasers plays a significant role. The prediction period will witness primary trends like improvements in laser technology, fiber and diode lasers, telemedicine and distant surgery, nanosecond and picosecond lasers, as well as green and yellow lasers.
What Are The Essential Drivers Behind The Growth Of The Medical Lasers Market?
The growth of the medical lasers market during the period was influenced by a rising demand for minimally invasive procedures. The uptick in aesthetic and cosmetic procedures globally led to an increased need for minimally invasive surgeries. For instance, The British Association of Aesthetic Plastic Surgeons (The BAAPS), a UK-based organization, published a report in March 2023 showing there were 31,057 cosmetic procedures carried out in 2022, a staggering 102% increase from the previous year. Therefore, the high application of medical lasers in minimally invasive aesthetic and cosmetic surgeries escalates the demand for the medical lasers market.
How Is The Global Medical Lasers Market Divided Into Key Segments?
The medical lasers market covered in this report is segmented –
1) By Product Type: Solid State Laser Systems, Gas Laser Systems, Dye Laser Systems, Diode Laser Systems
2) By Application: Surgical , Cosmetic , Dental
3) By End Use: Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiovascular, Other End Users
Subsegments:
1) By Solid State Laser Systems: Nd:YAG Lasers, Alexandrite Lasers, Ruby Lasers, Erbium Lasers
2) By Gas Laser Systems: CO2 Lasers, Argon Lasers, Nitrous Oxide Lasers
3) By Dye Laser Systems: Rhodamine Lasers, Coumarin Lasers
4) By Diode Laser Systems: Gallium Arsenide (GaAs) Diode Lasers, Gallium Nitride (GaN) Diode Lasers
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What Emerging Trends Are Influencing The Growth Of The Medical Lasers Market?
In order to capture a competitive advantage within the medical lasers market, key industry players are unveiling innovative laser hardware, like the ULTRApulse Alpha. This device merges CO2 laser technology benefits with a high-tech, user-friendly design, allowing professionals in aesthetics to effectively treat a broad spectrum of conditions. Lumenis, for instance, an Israeli firm that creates energy-based solutions for aesthetics and vision markets, released the ULTRApulse Alpha CO2 laser in the UK market in March 2023. ULTRApulse Alpha boasts a contemporary and easy-to-navigate Graphical User Interface (GUI), inclusive of pre-set options and intelligent automation for various treatments. These treatments range from skin resurfacing and scar alterations to less intrusive aesthetic procedures such as Blepharoplasty.
Who Are the Key Players In The Medical Lasers Market?
Major companies operating in the medical lasers market include:
• El.En. S.p.A.
• Ellex Medical Lasers Ltd.
• Lumenis
• Alcon Laboratories Inc.
• AngioDynamics Corp.
• American Medical Systems Inc.
• Biolase Inc.
• Bausch & Lomb Holdings
• Cardiogenesis Corporation Inc.
• Boston Scientific Corporation
• IRIDEX Corp.
• Novadaq Technologies Inc.
• Photomedex Inc.
• Spectranetics Corporation
• Syneron Candela
• Cryolife Inc.
• Novartis AG
• Topcon Corporation
• Fotona d.o.o.
• Sisram Medical Ltd.
• Kern Electronics & Lasers
• Boss Laser LLC.
• Automark
• Corning Incorporated
• Coherent Inc.
• IPG Photonics Corporation
• Jenoptik AG
• Lumibird Medical
• Iridex Corporation
• Mevion Medical Systems
• Vision RT
• IsoRay Inc.
• RefleXion Medical
• Alpha Tau Medical
• Nanobiotix S.A.
What Are The Regional Insights Into The Medical Lasers Market?
North America was the largest region in the medical lasers market in 2023. Asia-Pacific was the second-largest region in the global medical lasers market share. The regions covered in the medical lasers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
