Medical Laser Market Analysis

Medical Laser Market Analysis

The medical laser market is segmented based on product into solid state laser systems, gas laser systems, dye laser systems and diode laser systems. Solid state laser systems segment held the largest revenue size over USD 1.3 billion in 2022 and is estimated to witness significant growth during the forecast period. The segment's expansion can be attributed to rising inclination towards reusable medical lasers and being used in commercial manufacturing in the healthcare sector, which will increase the segment's revenue size. Moreover, increased demand for reusable medical lasers brought on by better scalability and high-volume capacity will favourably affect market expansion. Hence, due to aforementioned advantages, reusable medical lasers are becoming more popular, which will boost the segment's growth potential over the course of the analysis timeframe.
 

Medical laser market is bifurcated based on the application including ophthalmology, dermatology, gynecology, dentistry, urology, cardiology, gastroenterology, and others. Ophthalmology segment held largest revenue share of 20% in 2032. Segmental expansion can be attributed to an increase in the frequency of ocular illnesses that cause need for treatments through LASIK. Lasers are a crucial tool in ophthalmology due to their numerous benefits, including safety, accuracy, and relative affordability.
 

Medical Laser market by end-use is segmented into hospitals, specialty clinics, ambulatory surgical centers, and others. Hospitals segment accounting for over 32% market share in 2022. With increasing demand for aesthetic treatments and various attributed factors, including a growing acceptance of cosmetic procedures, growing medical tourism, advancements in technology, and increased accessibility to these treatments will drive the segmental growth. Furthermore, high demand of medical laser along with increased accessibility to aesthetic treatments will positively influence overall market growth.
 

North America medical laser market accounted for more than USD 2.1 billion in 2022 and will grow momentously during the analysis timeframe. The presence of industry players that are actively focusing on product innovation, rising R&D expenditure in the area, and the rising prevalence of cardiovascular, dermal, and other disorders are some of the key factors driving the North America medical lasers market size. Also, a rise in academic institutions and R&D initiatives for the creation of novel products will encourage regional market expansion in the years to come.