The global medical laser market is anticipated to grow at 19.1% CAGR owing to the effective treatment of cutaneous malignancies, growing preference for minimal and non-invasive medical procedures, rising prominence of obesity, physical appearance, and awareness among consumers about aesthetic procedures will drive the growth of the medical lasers market. Moreover, medical lasers are adopted as it offers benefits like less pain, minimal incisions, and speedy recovery will propel the growth of the global medical laser market.

The ongoing advancement in laser-assisted devices like cosmetic surgery, orthopaedic and dental surgery, etc. will provide advanced and high-quality treatments in medical facilities and reduces the risk of post procedural complications will foster the growth of the market.

The COVID-19 outbreak has had an adverse impact on the global medical lasers market as these are the non-emergency medical procedures which had a significant decline during the crisis. Moreover, temporary closure of manufacturing units, ban on import and export has affected the sales of medical lasers. However, the market for medical lasers is anticipated to bounce back post COVID-19 crisis owing to the increasing demand for elective surgical procedures.

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Based on product, solid-state lasers dominates the global medical lasers market owing to benefits associated with it i.e., simple construct, high efficiency, and economical. The adoption of solid-state lasers in medical applications like treatment for scar removal, melisma treatment, skin resurfacing has propelled the growth of the segment.

Nd:YAG laser are adopted to treat skin disorders, eye disorders, permanent hair removal, tattoo removal, and certain nail disorders. For instance, Lumenis Ltd. had a partnership with Harrods Wellness Clinic to have an aesthetic clinic with the Stellar M22. Thus, it will treat vascular and leg vein lesions on all skin types, and a Q-Switched Nd:YAG to treat pigmented lesions and remove dark tattoos.

North America dominates the global medical lasers market owing to the presence of key players in the region, technological development in medical devices, significant growth of aesthetic/cosmetic procedures, and robust increase in ophthalmic surgeries, such as cataracts.

Minimally invasive surgery such as neurotoxins, dermal fillers, deoxycholic acid, lasers, ablation, and micro needling provide a powerful and non-persistent addition to the patient's highly effective surgery. Major cosmetic surgeries in the area include breast augmentation, liposuction, nose surgery, eyelid lift, abdominal wall plasty, and face lift. These factors are expected to drive the demand for lasers in these applications because they provide accuracy in several ways.

The prominent players in the global medical lasers industry include BIOLASE, Inc., Lumenis Ltd., Syneron Medical Ltd., Boston Scientific Corporation, Novartis AG, Valeant Pharmaceuticals International, Inc., Ellex Medical Lasers Ltd., CryoLife, Inc., and PhotoMedex, Inc.

Source: VynZ Research