Meticulous Research®— a leading global market research company, published a research report titled “Medical Laser Market by Type (Solid-state Lasers, Gas Lasers, Dye Lasers, Diode Lasers), Application (Ophthalmology, Dermatology, Gynecology, Dentistry, Urology, Cardiovascular, Other Applications)– Global Forecast to 2028”.

The medical laser market is expected to grow at a CAGR of 14.2% during the forecast period, to reach a value of $3 billion by 2028. This market is majorly driven by factors such as the increasing number of cosmetic procedures, rising preference for minimally invasive procedures, and increasing number of eye disorders. 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 market is segmented based on type, application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

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Based on type, the medical laser market is segmented into solid-state, gas, dye, and diode lasers. The diode lasers segment is expected to grow at the fastest CAGR during the forecast period. This is due to the preference for these lasers in various surgical procedures, such as hair removal, soft tissue cutting, aesthetic procedures, dental surgeries, coagulation, and thermal cancer therapy. Diode lasers deliver wavelengths ranging from 810 to 1064 nm. They are compact and portable solid-state units. These lasers are used precisely for soft tissue procedures and penetrate 2 to 3 mm or more into soft tissue, depending on the wavelength and tissue biotype. However, solid-state lasers are expected to account for the largest share of the medical lasers market in 2021.

Based on application, the medical lasers market is segmented into dermatology, ophthalmology, urology, dentistry, cardiology, gynecology, and other applications. The medical lasers market for urology is expected to grow faster during the forecast period. Factors such as the rising number of kidney diseases, increasing urinary tract infections, growing aging population, and rising chronic kidney disorders are driving the growth of this segment. In addition, urinary tract infections are also one of the most common types of infections. As a result, companies are initiating several strategic developments for the development of urology medical lasers. For instance, in 2020, Olympus Corporation launched its Soltive SuperPulsed Laser System, a new application of thulium fiber laser technology designed for stone lithotripsy and soft tissue applications.

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According to the International Society of Nephrology, in 2020, more than 850 million people had kidney disease globally. Furthermore, in 2020, in the U.S., cases of bladder cancer were around 81,400 (Men: 62,100, Women: 19,300), and about 17,980 deaths occurred due to this cancer (Source: American Cancer Society). In 2021, in the U.S., bladder cancer cases stood at 83,730 (about 64,280 in men and 19,450 in women), and 17,200 deaths were reported from bladder cancer (about 12,260 in men and 4,940 in women).

Geographically, Asia-Pacific medical lasers market is expected to expand at the highest growth rate during the forecast period. Growth of medical tourism in most Asian countries, rising disposable income, growing awareness and adoption of minimally invasive aesthetic procedures, government support to provide better medical infrastructure, and the arrival of several medical device manufacturers in the market. In countries such as China and Japan, respective governments have introduced policies to support the standardization of the aesthetic medicine industry. Furthermore, the digital media marketing of aesthetic procedures has created consumer awareness and explosive growth in the market. India is also at the forefront of development in the medical lasers market, with the government’s continual effort to boost the medical technology market.

However, North America is expected to account for the largest share in 2021. 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. This is one of the major factors driving the demand for medical lasers in this region. Also, 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 contribute to the revenue growth of the medical lasers market in this region.

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The key players operating in the global 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 Company (South Korea), Cynosure (U.S.), PhotoMedex (U.S.) and Spectranetics (U.S.).

Key Questions Answered in the Report-
• Which are the high-growth market segments in terms of type, application, and geography?
• What is the historical market size for medical lasers across the globe?
• What are the market forecasts and estimates for the period 2020-2028?
• What are the major drivers, restraints, opportunities, and challenges in the medical lasers market?
• Who are the major players in the market, and what are their market shares?
• Who are the major players in various countries, and what are their market shares?
• How is the competitive landscape for the medical lasers market?
• What are the recent developments in the medical lasers market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the medical lasers market, and how do they compete with other players?

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