Medical Laser Market size is expected to cross USD 9.5 Billion by the end of 2033, growing at a CAGR of 10% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of medical laser was around USD 5 Billion.The growth of the market can primarily be ascribed to the rising sales of lasers owing to growing demand in multiple medical branches such as cardiovascular, dentistry, dermatology, gynecology, and others. For instance, in 2021, lasers sales across the globe were valued at over USD 15 billion.
Global medical laser market trends such as, booming cases of cardiovascular diseases, and flourishing healthcare expenditure across the globe are projected to influence the growth of the market positively over the forecast period. Based on statistics provided by the World Health Organization (WHO), cardiovascular disease accounted for approximately 17.9 million deaths per year across the globe, while one-third of death is associated with geriatrics. Medical lasers are getting more enhanced owing to growing technological advancement. These lasers are used in therapies, for instance, photodynamic & photo rejuvenation therapies, surgeries, medical diagnosis, treatment, and others. A surgeon becomes more capable of accomplishing complex tasks during the surgery with the proper assistance of lasers. Hence, all these factors are expected to propel the growth of the market over the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
10% |
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Base Year Market Size (2022) |
USD 5 Billion |
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Forecast Year Market Size (2033) |
USD 9.50 Billion |
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Regional Scope |
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Application (Cardiovascular, Dentistry, Dermatology, Gynecology, Ophthalmology)
The global medical laser market is segmented and analyzed for demand and supply by application into cardiovascular, dentistry, dermatology, gynecology, ophthalmology, and others, out of which, the ophthalmology segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to rising cases of disorders and diseases of the eye. As of 2022, the revenue generated by the ophthalmic devices segment was estimated at around USD 30 billion.
Our in-depth analysis of the global market includes the following segments:
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By Laser Type |
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By Product |
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By Application |
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By End-User |
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North American Market Forecast
The North America medical laser market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be accounted to the skyrocketing number of cosmetics surgeries in the region. America was estimated to register the highest number of cosmetic surgeries across the globe. For instance, in 2020, more than 5 million surgical and cosmetic procedures were performed solely in the USA, up from approximately 1 million in 1997. Moreover, rising demand for minimally invasive procedures and growing cases of ophthalmic disorders are further estimated to hike the growth of the market in the region over the forecast period.
IRIDEX Corporation to receive the regulatory clearance for its product Cyclo G6 to be sold in the market. Cyclo G6 has been developed for the treatment of glaucoma disease. Furthermore, Cyclo is launched in China along with the company’s distributors Topcon and Clinico.
El.En. S.p.A.’s company Quanta System S.p.A. to donate surgical laser to the Onlus Manzo-Prod-Action.Aid. The laser has been donated for physiotherapy and dermatological application and it’ll be installed in Zimbabwe.
Author Credits: Radhika Pawar
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