Press Release

Global Medical Lasers Market Poised to be Worth USD 9.85 billion by 2030, with a CAGR of 9.61% During 2024-2030

The Global Medical Lasers Market size was valued at USD 4.98 billion in 2023 and is projected to reach USD 9.85 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 9.61% during the forecast period, i.e., 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, rates of diseases such as cancer, ophthalmic disorders, and skin conditions, which require laser therapy for better patient outcomes, have increased globally. This accelerated the growth of the Global Medical Lasers Market. Moreover, cases of kidney stones have been increasing among the global population due to high protein intake, medications, low water intake, previous surgeries, etc. This largely contributed to the increased utilization of medical lasers. Also, the surging old age population has positively impacted the market growth by escalating the disease's rates.

Further, the 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 Lasers 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.”

Global Medical Lasers Market Segmentation Analysis

Oncology Segment Dominated the Global Medical Lasers Market

Based on the application segment, the market is further categorized into Dermatology Applications, Dental Applications, Urology Applications, Ophthalmology Applications, OB/GYN Applications, Oncology Applications, Cardiovascular Applications, and Others. The Oncology category is expected to hold a prominent market share, out of all the segments. 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. Further, several risk factors including old age, smoking, etc. associated with causing cancer have positively impacted the segmental market growth. Along with this, growing awareness for early cancer detection has led to increased identification of more patients requiring treatment via medical lasers. Moreover, there has been development of laser systems that are more effective and safer and allow for better targeting of cancerous tissues while minimizing damage to surrounding healthy tissue. Among healthcare professionals as well as patients, such developments contributed to their increased adoption, ultimately benefitting the segmental market growth.

North America Witnessed Considerable Growth in the Global Medical Lasers Market

Geographically, the market is segmented into North America, South America, Europe, The Middle East and South Africa, and Asia-Pacific. 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.  Also, people in North America People underwent hair removal, tattoo removal, and other skin treatments to enhance their appearance and adapt to societal beauty standards which have largely accelerated the demand for medical lasers across various medical facilities in the region. Moreover, North America has a well-developed healthcare infrastructure with advanced medical facilities and skilled healthcare professionals. This facilitates widespread access to medical lasers and ensures quality care for patients. In addition, the region has witnessed the establishment of aesthetic imaging centers that played pivotal roles in driving further momentum forward toward the progress of the Medical Lasers Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, 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 position.

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 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?