Medical Laser Systems Market To Reach $14.0 Billion By 2030

Medical Laser Systems Market Growth & Trends

The global medical laser systems market size is expected to reach USD 14.0 billion by 2030, expanding at a CAGR of 15.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rising demand for minimal and non-invasive procedures by patients is anticipated to be the most impact rendering driver of the market.

Increasing application of these systems for diagnostic purposes, rising geriatric population base, propelling demand for cosmetic surgeries and technological advances in pre-existing laser systems are vital factors driving the demand of this market.

Medical laser systems are being prominently applied in various branches of biology such as urology, cardiology, ophthalmology etc for the purpose of diagnosis, disease management and prevention. Augmenting cases of these disorders is expected to positively impact market growth over the forecast period.

Solid state lasers are anticipated to grow at the fastest rate during the forecast period due to higher reliability, smaller compact designs, lowered cost of purchase and prolonged life span of the systems. Diode lasers are expected to hold a significant market share owing to the introduction of next generation Optically Pumped Semiconductor Lasers (OPSLs) that provide unmatched electrical efficiency.

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Medical Laser Systems Market Report Highlights

• Solid state lasers are expected to grow at the fastest rate of over 15.9% during the forecast period due to technological advances and increasing application in diagnostic field. Neodynium Yttrium Aluminum Garnet (Nd:Yag) and Potassium titanyl phosphate (KTP) are expected to drive growth over the forecast period.

• On the basis of application segments, urology, cardiology and gynecology are expected to be the top contributors of the medical laser systems market. Statistics provided by the WHO estimate that over 17.5 million people annually are reported with chronic cases of cardiovascular disorder that require surgical follow-up.

• North America held over 45.9% of the market in 2022 due to rising disposable income, rising geriatric population base coupled with increasing cases of age-related disorders and conditions.

• Asia Pacific is expected to witness the fastest CAGR of 16.7% during the forecast Rising disposal income, increasing awareness and volume of cosmetic surgeries, increasing incidences of diabetic retinopathy, rheumatoid arthritis and dental caries are key drivers for the medical laser systems market growth within the region.

• Eminent players of this market include IRIDEX Corp., Lumenis Ltd., Syneron-Candela, Photomedex Inc., Spectranetics Corp., Biolase Inc., Bioform Medica Inc., biolitec, and Cutera.

Medical Laser Systems Market Segmentation

Grand View Research has segmented the global medical laser systems market based on product, application, and region:

Medical Laser Systems Product Outlook (Revenue, USD Million, 2018 - 2030)

• Diode Laser

• Solid State Laser

• Holmium Yttrium Aluminum Garnet (Ho:Yag) lasers

• Erbium Yttrium Aluminum Garnet (Er:Yag) lasers

• Neodynium Yttrium Aluminum Garnet (Nd:Yag) lasers

• Potassium Titanyl Phosphate (KTP)

• Alexandrite lasers

• Ruby lasers

• Gas Laser

• Co2 laser

• Argon laser

• Krypton laser

• Metal Vapor (Au & Cu) laser

• Helium-Neon laser

• Excimer laser

• Dye Laser

Medical Laser Systems Application Outlook (Revenue, USD Million, 2018 - 2030)

• Dermatology

• Ophthalmology

• Gynecology

• Urology

• Dentistry

• Cardiovascular

• Others (Gastroenterology, Rheumatology, Traumatology)

Medical Laser Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

• U.S.

• Canada

• Europe

• UK

• Germany

• France

• Italy

• Spain

• Denmark

• Sweden

• Norway

• Asia Pacific

• Japan

• China

• India

• Australia

• Thailand

• South Korea

• Latin America

• Brazil

• Mexico

• Argentina

• Middle East & Africa

• South Africa

• Saudi Arabia

• UAE

• Kuwait

List of Key Players in Medical Laser Systems Market

• Lumenix

• Photomedex

• Philips Healthcare

• BIOLASE, Inc.

• IRIDEX Corporation

• BioForm Medical, Inc.

• biolitec AG

• Cutera

• Candela Corporation

• Cynosure