Medical Laser Systems Market Expands with Advancements in Laser Technology

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.

Key Companies & Market Share Insights

The rise in competition is leading to rapid technological advancements and companies are constantly working towards the improvement of their products with a major focus on research and development. Factors such as investment in research & development, compliance with regulatory policies, and technological advancements are constantly driving the introduction of novel techniques. Lumenis Be Ltd. is one of the leading global providers of light radiation and energy-based technologies. They offer a wide range of optical maser platforms for various medical specialties, including dermatology, aesthetics, urology, and ophthalmology.

For instance, in January 2020, Lumenis Be Ltd., a provider of energy-based medical devices for ophthalmic, surgical, and aesthetic applications, announced the launch of its LightSheer Quattro platform. The new addition to the LightSheer portfolio provides clinically validated laser hair removal treatments for all skin types. It offers two wavelength options of 805nm and 1060nm, ensuring versatility in addressing different patient needs. This advanced system ensures minimal downtime for patients. Moreover, it enables the treatment of pigmented and vascular lesions, expanding its applications beyond hair removal. The system incorporates innovative features such as high-speed vacuum-assisted technology and ChillTip-integrated contact cooling technology. By combining these technologies, it allows practitioners to deliver superior clinical outcomes. Patients can benefit from comfortable, effective, fast, and safe treatment experiences.

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

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