Medical Lasers Market is Expected to Reach $8.3 Billion | MarketsandMarkets™

Chicago, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Medical Lasers market in terms of revenue was estimated to be worth $4.8 billion in 2023 and is poised to reach $8.3 billion by 2028, growing at a CAGR of 11.5% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The growth of the market can be attributed to the rising popularity of minimally invasive and noninvasive laser procedures. More patients are choosing these treatments because of their reduced risks, shorter recovery periods, and the attainment of natural-looking results. This trend indicates a broader movement towards cosmetic procedures that prioritize safety and convenience, thereby propelling the expansion of the market.

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Medical Lasers Market Scope:

Report Coverage	Details
Market Revenue in 2023	$4.8 billion
Estimated Value by 2028	$8.3 billion
Growth Rate	Poised to grow at a CAGR of 11.5%
Market Size Available for	2021–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Technology, Application, End User, and Region
Geographies Covered	North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunity	Growth of medical tourism
Key Market Driver	Increase in the number of non surgical cosmetic procedures

Based on the technology, the medical lasers market is segmented into solid-state laser systems, gas laser systems, pulsed dye laser systems, diode laser systems, other technologies laser devices. In 2022, the solid-state lasers segment dominated the medical lasers market with the highest share. This was driven by the rising adoption of specialized equipment designed to target specific medical conditions, coupled with a growing awareness of the significance of early detection.

Based on application, the medical lasers market is segmented into aesthetic/cosmetic applications, dermatology applications, urology applications, ophthalmology applications, dental applications, ob/gyn applications, oncology applications, cardiovascular applications, other applications. The expansion in this sector can be credited to technological advancements in medical laser technology and the escalating investments in the healthcare industry. Substantial progress has been made in technology over recent years, and the anticipated market growth is driven by the introduction of technologically advanced products, updates, and new developments in this segment.

Based on end users, the medical lasers market is segmented into hospitals and surgical centers, dermatology clinics and dental clinics, medical and beauty spas, home use and self-care and other end users. The growth in this category can be attributed to advanced technologies and the heightened commitment from both government and private entities to foster the advancement of the medical laser device industry. Furthermore, key drivers for market growth include the growing elderly population and an enhanced emphasis on preserving both health and appearance.

Based on region, North America accounts for the highest share of the medical lasers market. This is due to strategic initiatives by the market players in the region, a growing number of concerns regarding laser treatment, and the laser healthcare infrastructure. The substantial share of the United States in the North American medical lasers market is primarily attributed to its greater inclination towards adopting innovative technologies compared to other nations. The presence of advanced and user-friendly products also contributes significantly to the market's growth.

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Medical Lasers market major players covered in the report, such as:

• Cynosure. (US)
• Candela Medical (US)
• Lumenis Be Ltd. (US)
• Cutera (US)
• El.En. S.p.A (Italy)
• Alma laser (Israel)
• Fotona (Slovenia)
• and Among Others

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This report has segmented the medical lasers market based on technology, application, end-user, and region.

Medical Lasers Market, by Technology

• Solid-State Laser Systems
• ER:YAG Laser Systems
• NG:YAG Laser Systems
• HO:YAG Laser Systems
• Alexandrite Laser Systems
• Other Solid-State Laser Systems
• Gas Laser Systems
• Co2 Laser Systems
• Argon Laser Systems
• Krypton Laser Systems
• Excimer Laser Systems
• Other Gas Laser Systems
• Pulsed Dye Laser Systems
• Diode Laser Systems
• Other Technologies 

Medical Lasers Market, by Application

• Aesthetic/Cosmetic Applications
• Hair Removal
• Acne And Scar Removal
• Tattoo Removal
• Other Aesthetic Applications
• Dermatology Applications
• Urology Applications
• Ophthalmology Applications
• Dental Applications
• Ob/Gyn Applications
• Oncology Applications
• Cardiovascular Applications
• Other Applications

Medical Lasers Market, by End User

• Hospitals And Surgical Centers
• Dermatology Clinics And Dental Clinics
• Medical And Beauty Spas
• Home Use and Self Care
• Other End Users

Medical Lasers Market, by region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Thailand
  • South Korea
  • Indonesia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa

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Key Market Stakeholders:

• Dermatology Clinics and Aesthetic Centers
• Hospitals and Surgical Centers
• Cosmetic Product Manufacturers
• Pharmaceutical Companies
• Medical Spas and Beauty Spas
• Cosmetologists and Plastic Surgeons      
• Medical Aesthetics Device Distributors and Suppliers
• Dermatologists and Aesthetic Practitioners
• Urologists and Urological Surgeons
• Obstetricians and Gynecologists
• Nurses and Oncology Nurse Navigators
• Oncologists
• Cardiac Surgeons
• Regulatory Agencies
• Public Health Organizations
• Research and Development Organizations
• Medical Laser Manufacturers

Report Objectives:

• To define, describe, and forecast the size of the medical lasers market based on technology, application, end user, and region
• To provide detailed information regarding the major factors influencing the growth potential of the global medical lasers market (drivers, restraints, opportunities, challenges, and trends)
• To analyze the micro markets with respect to individual growth trends, prospects, and contributions to the global medical lasers market.
• To analyze key growth opportunities in the global medical lasers market for key stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of market segments and/or subsegments with respect to five major regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Spain, Italy, and the RoE), Asia Pacific (Japan, China, India, Australia, South Korea, Indonesia, Thailand and the RoAPAC), Latin America (Brazil, Mexico, RoLA), and Middle East and Africa.
• To profile the key players in the medical lasers market and comprehensively analyze their market shares and core competencies
• To track and analyze the competitive developments undertaken in the global medical lasers market, such as product launches, agreements, expansions, and mergers & acquisitions.

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