Press Release Description

USD 4.5 Billion Global Medical Lasers Market to Flourish at a CAGR of Around 12.5% During 2024-30

The Global Medical Lasers Market size was valued at around USD 4.5 billion in 2023 and is anticipated to grow at a CAGR of 12.5% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The market growth has been attributed to a growing preference for minimally invasive treatments for anti-aging, skin lightening, and pigmentation removal. Medical lasers offer enhanced cosmetic results with reduced downtime and complications associated with conventional treatment methods, thereby attracting more individuals, particularly females, looking for cosmetic enchantments.

Further, the prevalence of chronic diseases such as cancer, ophthalmic disorders, and skin conditions, which require advanced treatment options like laser therapy for better patient outcomes, has increased across the globe, and this has accelerated the growth of the Global Medical Lasers Market.

Global Medical Lasers Market

Moreover, the adoption of medical lasers has witnessed growth with an increase in various technological advancements that led to the development of more efficient and versatile laser systems with improved targeting and reduced side effects. Further, the increase in demand for these devices has led to an increment in the number of strategic activities, including acquisitions and mergers, by the key companies to boost their product portfolio and gain a prominent share in the medical laser ecosystem. These efforts by global companies are anticipated to drive market growth in the coming years as well, further states the research report, “Global Medical Lasers Market Analysis, 2024.”

Segmentation Analysis

Oncology Segment Dominated the Global Medical Lasers Market

Based on the application, the market is bifurcated into Aesthetics/Cosmetics Applications, Dermatology Applications, Dental Applications, Urology Applications, Ophthalmology Applications, OB/GYN Applications, Oncology Applications, Cardiovascular Applications, and others. The oncology segment held the largest market share. This has been attributed to the presence of a large number of patients with different cancer types, such as prostate cancer, breast cancer, etc. As medical lasers are largely employed for the diagnosis, treatment, and management of cancer patients, their demand has increased enormously and has driven segmental market growth.

Additionally, the growth of the segmented market has been positively impacted by an increase in the number of risk factors such as smoking, advanced age, and other behaviors that are linked to cancer and by increasing awareness of the need for early cancer detection. Furthermore, several developments in laser technology have produced laser systems that enhance the ability to target malignant areas while reducing harm to neighboring healthy tissue, improving the efficacy and safety of laser therapies. This has helped the growth of the segment market in the long run by increasing its popularity among patients and healthcare professionals.

North America Witnessed Considerable Growth in the Global Medical Lasers Market

In the dynamic landscape of the Global Medical Lasers Market, North America stands tall as a frontrunner. The dominance has been attributed to the prevalence of various chronic diseases such as cancer, cardiovascular diseases (CVDs), etc. in the region. As medical lasers are largely employed for appropriate diagnosis, treatment, and management of these diseases, their demand has increased, contributing to the escalation of regional market growth.

Furthermore, North America boasts a sophisticated healthcare system that includes cutting-edge medical facilities and highly qualified healthcare personnel. This guarantees patients high-quality care and makes medical lasers more widely accessible. The development of aesthetic imaging centers has also occurred in the area, and these facilities are crucial to propelling the medical lasers industry's advancement. Thus, in the upcoming years, the above-mentioned reasons will also drive the medical lasers market in North America.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Boston Scientific Corporation, Johnson & Johnson Vision Care, Inc., Alcon Inc., Carl Zeiss Meditec Ag, Candela Corporation, Lumenis Be Ltd., Cutera, Inc., Bausch Health Companies Inc., El.En. S.P.A., Alma Lasers, Fotona, Ipg Photonics Corporation, Bison Medical, AMD Lasers, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the regions?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping up across various regions?
  6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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