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Medical Laser Market - Global Outlook and Forecast 2022-2027

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    Report

  • 405 Pages
  • June 2022
  • Region: Global
  • Arizton
  • ID: 5614348
UP TO OFF until Sep 30th 2022
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The following factors are likely to contribute to the growth of the global medical lasers market:

  • Laser Advancements for Pain-Free Aesthetic Treatments
  • Growing Trend of Laser-Based Medical Imaging
  • Increase in Target Population and Number of Eye Procedures
  • Growing Demand for Medical Tourism in Developing Countries

KEY HIGHLIGHTS

  • As a technology that offers a high degree of flexibility, productivity, sustainability, and precision, laser technology has widespread acceptance and success across several industries, including manufacturing, automotive, and, most importantly, medical & healthcare industries.
  • From laser eye surgery to the non-invasive treatment of many ailments, laser technology has enabled healthcare facilities, physicians, surgeons, and nurses to provide better care more swiftly and efficiently.
  • A rise in demand for minimally invasive and non-invasive procedures in cosmetics and dermatology boosts demand for medical lasers across the globe. Commercial entry of innovative diode lasers and solid-state lasers have enabled surgeons to perform scar-less and bloodless surgeries, fueling the demand for medical laser surgeries.
  • Increasing acceptance of LASIK surgery for severe visual impairment contributes to the growth of the medical laser market. Around 720,000 Americans in the U.S. underwent LASIK surgeries in 2020. Approximately 760,000 LASIK surgeries were performed in Europe.

Growing Demand for Pain-Free Laser Treatments


Patients opt out of surgical procedures in favor of newer laser-based technologies with lower risk and better results. These treatments are more precise and take a shorter time than surgical treatments. The healing time is faster, and the patient experiences less pain, scarring, and swelling post-surgery. In plastic surgery and cosmetic treatment, medical lasers play a significant role in procedures that are non-invasive and void of post-treatment recovery time and can be applied to wrinkle removal, fat reduction, and muscle toning.

Advancements of Lasers in the Medical Industry


The introduction of the latest medical technology and the rising popularity of minimally invasive surgeries are now pushing medical science to an upper level. With the growing and aging population worldwide, machine learning and artificial intelligence are offering new and better approaches. A.I. incorporation into cosmetic laser treatment can help eliminate the potential of human error, enhance precision for better results, reduce potential risks and side effects, simplify treatment for doctors, and creating more cost-effective approach for patients and doctors. Other potential uses for A.I. also include laser removal of tattoos and skin cancer treatment. Lasers are also showing promising results in medical imaging. Medical lasers are being used in several applications, including advanced technologies that meet current challenges in clinical diagnosis and can address a wide range of health care issues. Photoacoustic imaging is one method that includes examining living materials by using laser light and ultrasonic sound waves. Furthermore, in recent years, novel biomedical laser applications based on new laser types or novel energy delivery systems are also gaining significance.

Factors Affecting the Growth of the Medical Laser Market


Hazards associated with lasers are major factors hindering their adoption in the medical field. Visible light lasers can damage the retina by causing blind spots, and on the optic nerve can lead to vision impairment. Diode Laser, Neodymium yttrium aluminum garnet (Nd: YAG) laser, and holmium yttrium aluminum garnet (Ho: YAG) laser-focused on the retina can cause damage to the tissues in the eyes. Furthermore, the high cost of laser-based treatments such as cosmetic/aesthetic procedures and eye treatments are shifting people towards alternate procedures. In addition to this, stringent guidelines by the regulatory authorities are posing significant challenges to medical laser manufacturers.

Impact of COVID-19 on Medical Laser Market


With the advent of COVID-19, most surgical procedures were postponed while only emergency cases were addressed. Due to this, there was a significant decline in the aesthetic procedures performed using medical lasers. As lockdown restrictions eased for non-essential services, many surgeons began seeing an influx of patients seeking aesthetic plastic surgery. According to annual Aesthetic Plastic Surgery Statistics for 2020 published by the Aesthetic Society, Americans spent over $9 billion on aesthetic plastic surgeries, even amidst the COVID-19 pandemic.

SEGMENTATION ANALYSIS


The global medical laser market is segmented by type, power, application, procedure, end-user, and geography.

Type: In 2021, diode laser devices accounted for 44.55% of the global medical laser market share. It is estimated that dye laser devices will likely witness the highest CAGR of 14.79% during the forecast period.

Power: In 2021, high-power laser devices accounted for 54.35% of the global medical laser market. The low-power laser devices are likely to have the highest CAGR of 14.98% during the forecast period.

Application: In 2021, diagnosis, therapy & surgery accounted for the largest share of 60.93% in the global medical laser market. The aesthetics segment is likely to grow with the highest CAGR of 15.16% during the forecast period.

Procedure: In 2021, ophthalmology accounted for the largest share of 28.71% in the global medical laser market. It is estimated that dentistry will likely grow with a CAGR of 15.00% during the forecast period.

End-user: In 2021, hospitals accounted for 34.87% of the global medical laser market share. It is estimated that physicians’ office is likely to grow with the highest CAGR of 14.60% in the global medical lasers market during the forecast period.

Geography: North America is leading the global medical laser market with the largest share of 39.00% in 2021. It is estimated that the APAC region is expected to have the fastest growth compared to the other regions, with the highest CAGR of 15.30% during the forecast period.

Segmentation by Type

  • Diode Laser Devices
  • Gas Laser Devices
  • Solid-State Laser Devices
  • Dye Laser Devices

Segmentation by Power

  • High
  • Low

Segmentation by Application

  • Diagnosis
  • Therapy & Surgery
  • Aesthetics

Segmentation by Procedure

  • Ophthalmology
  • Dermatology
  • Dentistry
  • Gynecology
  • Urology
  • Cardiology
  • Others

Segmentation by End-User

  • Hospitals
  • Aesthetic Clinics
  • Physicians’ Office
  • Others

Segmentation by Geography

  • North America
  • US
  • Canada
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Denmark
  • Sweden
  • APAC
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Thailand
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Columbia
  • Middle East & Africa
  • Turkey
  • Saudi Arabia
  • South Africa
  • Israel

COMPETITIVE LANDSCAPE


The global medical laser market is highly competitive and dynamic, characterized by many international, regional, and local vendors providing various lasers. Bausch & Lomb, Candela Medical, Koninklijke Philips, Boston Scientific, Cutera, Fotona, Hologic, El.En. S.P.A, IRIDEX, and Shanghai Fosun Pharmaceutical are the major vendors with significant shares in the market. Significant acquisitions have made these companies stronger by expanding their consumer base, minimizing marketplace competition, and creating higher value than each company offers individually. For instance, Boston Scientific acquired Lumenis to integrate its medical lasers portfolio and expand its global footprint to advance growth across Europe and Asia. Furthermore, vendors are also active by-product launches, such as Candela Medical, which announced the launch of the Frax Pro system in 2021. Several market players invest in developing medical laser fibers for better productivity, like OmniGuide Holdings, which recently launched a new OTO-U CO2 laser system fiber.

Key Vendors

  • Bausch & Lomb
  • Candela Medical
  • Koninklijke Philips N.V
  • Boston Scientific
  • Hologic
  • Fotona
  • Cutera
  • En. S.P.A.
  • IRIDEX Corporation
  • Shanghai Fosun Pharmaceutical

Other Prominent Vendors

  • Beijing ADSS Development
  • Advanced MedTech
  • Aerolase
  • Alcon
  • Alna-Medicalsystem AG & Co. KG
  • AngioDynamics
  • Aspen Laser
  • Astanza Laser
  • Beijing Sanhe Beauty S & T Co.
  • BIOLASE
  • biolitec A.G.
  • Biotec Italia Srl
  • Bison Medical
  • Bluecore Company
  • Coherent
  • CryoLife
  • Dentsply Sirona
  • Dominion Aesthetic Technologies
  • Domino srl
  • Gigaalaser
  • InMode
  • P.G. Photonics
  • Jenoptik
  • Leaflife Technology
  • LINLINE Medical Systems
  • Lutronic
  • Lynton Lasers
  • MedArt ApS
  • Medency
  • PhotoMedex
  • Ra Medical Systems
  • REIMERS & JANSSEN GmbH
  • Sciton
  • Venus Concept
  • Wavemed S.R.L.
  • Wuhan Dimed Laser Technology
  • WUHAN ZJZK TECHNOLOGY
  • ZEISS International
  • Zimmer MedizinSysteme GmbH

KEY QUESTIONS ANSWERED


1. What is the Estimated Value of The Global Medical Laser Market By 2027?
2. What is the Growth Rate of The Global Medical Laser Market?
3. What are the Latest Global Medical Laser Market Trends?
4. Who are the Key Players in The Global Medical Laser Market?
5. Which Region Will Have the Highest Growth in The Global Medical Laser Market?

Table of Contents

1 Research Methodology2 Research Objectives3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
8 Market Opportunities & Trends
8.1 Advances in Laser Technology for Pain-Free Aesthetic Treatments
8.2 Increased Product Launches
8.3 Growth in Laser-Based Medical Imaging
8.4 Machine Learning & Ai Augmenting the Growth of Medical Lasers
9 Market Growth Enablers
9.1 High Demand for Non-Invasive Cosmetic Surgeries
9.2 Increased Target Population and Number of Eye Procedures
9.3 Higher Acquisitions and Product Approvals
9.4 Growth in Demand for Medical Tourism in Developing Countries
10 Market Restraints
10.1 Major Risks Associated With Medical Laser Surgeries
10.2 High Cost of Laser-Based Treatments
10.3 Regulatory Hurdles on Medical Laser Systems
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Impact of Covid-19 on Medical Lasers Market
11.4 Five Forces Analysis
12 Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Diode Laser Devices
12.4 Gas Laser Devices
12.5 Solid-State Laser Devices
12.6 Dye Laser Devices
13 Power
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 High
13.4 Low
14 Application
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Diagnosis, Therapy & Surgery
14.4 Aesthetics
15 Procedure
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Ophthalmology
15.4 Dermatology
15.5 Dentistry
15.6 Gynecology
15.7 Urology
15.8 Cardiology
15.9 Others
16 End-User
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Hospitals
16.4 Aesthetics Clinics
16.5 Physicians’ Offices
16.6 Others
17 Geography
17.1 Market Snapshot & Growth Engine
17.2 Geographic Overview
18 North America
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Key Countries
19 Europe
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Key Countries
20. Apac
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Key Countries
21. Latin America
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Key Countries
22. Middle East & Africa
22.1 Market Overview
22.2 Market Size & Forecast
22.3 Key Countries
23. Competitive Landscape
23.1 Competition Overview
23.2 Market Share Analysis
24. Key Company Profiles
24.1 Bausch & Lomb
24.2 Candela Medical
24.3 Koninklijke Philips N.V
24.4 Boston Scientific
24.5 Hologic
24.6 Fotona
24.7 Cutera
24.8 El.En. S.P.A
24.9 Iridex
24.10 Shanghai Fosun Pharmaceutical
25. Other Prominent Vendors
25.1 Beijing Adss Development
25.2 Advanced Medtech
25.3 Aerolase
25.4 Alcon
25.5 Alna-Medicalsystem
25.6 Angiodynamics
25.7 Aspen Laser
25.8 Astanza Laser
25.9 Beijing Sanhe Beauty S & T Co.
25.10 Biolase
25.11 Biolitec
25.12 Biotec Italia
25.13 Bison Medical
25.14 Bluecore Company
25.15 Coherent
25.16 Cryolife
25.17 Dentsply Sirona
25.18 Dominion Aesthetic Technologies
25.19 Domino
25.20 Gigaalaser
25.21 Inmode
25.22 Ipg Photonics
25.23 Jenoptik
25.24 Leaflife Technology
25.25 Linline Medical Systems
25.26 Lutronic
25.27 Lynton Lasers
25.28 Medart Aps
25.29 Medency
25.30 Photomedex
25.31 Ra Medical Systems
25.32 Reimers & Janssen
25.33 Sciton
25.34 Venus Concept
25.35 Wavemed
25.36 Wuhan Dimed Laser Technology
25.37 Wuhan Zjzk Technology
25.38 Zeiss International
25.39 Zimmer Medizinsysteme
26. Report Summary
26.1 Key Takeaways
26.2 Strategic Recommendations
27. Quantitative Summary
27.1 Type
27.2 Power
27.3 Application
27.4 Procedure
27.5 End-User
27.6 Geography
2. Appendix
28.1 Abbreviations

Companies Mentioned

  • Bausch & Lomb
  • Candela Medical
  • Koninklijke Philips N.V
  • Boston Scientific
  • Hologic
  • Fotona
  • Cutera
  • En. S.P.A.
  • IRIDEX Corporation
  • Shanghai Fosun Pharmaceutical
  • Beijing ADSS Development
  • Advanced MedTech
  • Aerolase
  • Alcon
  • Alna-Medicalsystem AG & Co. KG
  • AngioDynamics
  • Aspen Laser
  • Astanza Laser
  • Beijing Sanhe Beauty S & T Co.
  • BIOLASE
  • biolitec A.G.
  • Biotec Italia Srl
  • Bison Medical
  • Bluecore Company
  • Coherent
  • CryoLife
  • Dentsply Sirona
  • Dominion Aesthetic Technologies
  • Domino srl
  • Gigaalaser
  • InMode
  • P.G. Photonics
  • Jenoptik
  • Leaflife Technology
  • LINLINE Medical Systems
  • Lutronic
  • Lynton Lasers
  • MedArt ApS
  • Medency
  • PhotoMedex
  • Ra Medical Systems
  • REIMERS & JANSSEN GmbH
  • Sciton
  • Venus Concept
  • Wavemed S.R.L.
  • Wuhan Dimed Laser Technology
  • WUHAN ZJZK TECHNOLOGY
  • ZEISS International
  • Zimmer MedizinSysteme GmbH

Methodology


Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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