Key medical laser market players include El.En. S.p.A., Lumenis Be Ltd., Cynosure LLC, BIOLASE, Inc., IRIDEX Corporation, Cutera, Inc., Candela Corporation, Ellex Inc., Topcon Corporation, Lumentum Operation LLC, and others.
New York , Feb. 07, 2024 (GLOBE NEWSWIRE) — The global medical laser market size is predicted to grow at a CAGR of over 10% from 2023 to 2033. The market is projected to garner a revenue of USD 9.5 billion by the end of 2033, up from a revenue of USD 5 billion in the year 2022. This growth of the market is projected to be dominated by rising dental problems among the population. According to estimates from the WHO Global Oral Health Status Report (2022), oral diseases afflict approximately 3.5 billion people globally, with middle-income nations accounting for three out of every four cases. Hence, the market demand for medical laser is surging when treating soft dental tissue.
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Furthermore, there has been a growing trend of whitening teeth. For instance, in America men and women both reported having had teeth whitening at some point in their lives, with over 76% and about 64% reporting this experience. The whitening of teeth in clinics is accelerated by the use of lasers. The bleaching process is accelerated by using laser radiation to “activate” a peroxide bleaching solution that has been applied to the tooth surface.
Medical Laser Market: Key Takeaways
- Market in North America region to propel the highest growth
- Ophthalmology segment to garner the highest growth
- Market in Asia Pacific market region to grow at a notable rate
Rise in Demand for Tattoos Among Youth to Boost the Growth of the Global Medical Laser Market
Among young adults over the age of 18, nearly half (over 45%) have tattoos and the likelihood of having one increases with age. However, with this is prevalence of removing tattoos is also growing. One method for lessening the visibility of undesirable tattoos is laser tattoo removal. Dermatologists or technicians utilize high-intensity light pulses to target the ink within your tattoo however spare the surrounding skin during this procedure. The pulses of light are absorbed by the ink, which heats up. The immune system can then remove the microscopic fragments of ink that are broken down by this heat. The ink fades and your tattoo begin to seem faded.
Medical Laser Industry: Regional Overview
The global medical laser market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Surge in Plastic Surgery to Drive the Market Expansion in North America
The North America market for medical lasers is poised to gather the largest revenue in the market over the forecast period. The main element to influences the market expansion in this region is the rising prevalence of plastic surgery. Between 1997 and 2022, the number of cosmetic surgery and nonsurgical procedures performed in the US rose dramatically. The number of surgical procedures performed in the US increased from over 800,000 in 1997 to over 2 million in 2022. In terms of frequency, nonsurgical procedures have surpassed surgical operations.
Rising Urban Population to Boost the Market Growth in Asia Pacific
The medical laser market in Asia Pacific is set to have significant growth in the market over the forecast period. This could be on account of the rising urban population. Asia’s cities are expanding so quickly that by 2030, almost 54% of the vast population of the region is anticipated to live in urban regions. Hence, the disposable income of people in this region is also growing which is encouraging people to spend more on cosmetic surgeries. Therefore, the market demand for medical lasers is set to rise in this region.
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Medical Laser Segmentation by Application
The ophthalmology segment is projected to capture the highest revenue by the end of 2033. This segment’s growth is set to rise on account of rising eye disorders. According to the World Health Organization, at least 2.2 billion individuals worldwide suffer from a near- or far-sightedness. Vision impairment might have been avoided or has not yet been treated in at least 1 billion of these cases.
Medical Laser Segmentation by End-User
- Specialty Clinics
The hospitals segment is set to rise garnering a significant share in the market over the forecast period. This growth is projected to be encouraged by the growth in number of hospitals. By 2021, there were expected to be roughly 164,000 hospitals worldwide.
Medical Laser Segmentation by Laser Type
Medical Laser Segmentation by Product
- Laser Systems
A few of the well-known market leaders in the global medical laser market that are profiled by Research Nester are El.En. S.p.A., Lumenis Be Ltd., Cynosure LLC, BIOLASE, Inc., IRIDEX Corporation, Cutera, Inc., Candela Corporation, Ellex Inc., Topcon Corporation, Lumentum Operation LLC, and others.
Recent Development in the Market
- The regulatory clearance for IRIDEX Corporation’s Cyclo G6 product to be sold in the market has been received. The glaucoma problem can now be treated with Cyclo G6. In addition, Cyclo and the company’s distributors Topcon and Clinico are introduced in China.
- The Onlus Manzo-Prod-Action.Aid will receive a surgical laser donation from El. En, S.p.A.’s Quanta System S.p.A. The laser has been donated and will be placed in Zimbabwe for use in dermatology and physical therapy.
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