Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Medical Laser Market size was valued at USD 6.1 billion in 2024 and is set to exceed USD 22.04 billion by the end of 2037, expanding at over 10.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of medical laser is evaluated at USD 6.61 billion.
The growth of the market can primarily be ascribed to the rising sales of lasers owing to growing demand in multiple medical branches such as cardiovascular, dentistry, dermatology, gynecology, and others. For instance, in 2021, lasers sales across the globe were valued at over USD 15 billion.
Global medical laser market trends such as, booming cases of cardiovascular diseases, and flourishing healthcare expenditure across the globe are projected to influence the growth of the market positively over the forecast period. Based on statistics provided by the World Health Organization (WHO), cardiovascular disease accounted for approximately 17.9 million deaths per year across the globe, while one-third of death is associated with geriatrics. Medical lasers are getting more enhanced owing to growing technological advancement. These lasers are used in therapies, for instance, photodynamic & photo rejuvenation therapies, surgeries, medical diagnosis, treatment, and others. A surgeon becomes more capable of accomplishing complex tasks during the surgery with the proper assistance of lasers. Hence, all these factors are expected to propel the growth of the market over the forecast period.
Medical Laser Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Dental Problems in the Global Population- As of 2020, nearly 65% population of the USA observed visiting dentists while the prevalence of dental visits by children was found to be the highest, estimated to be around 85% in a similar year. The dentistry segment is projected to have a higher demand for lasers since they are utilized to reshape the gums and to remove the root canal. Other procedures performed in dentistry that requires lasers are dentinal hypersensitivity, bleaching, restorative removal, curing, caries prevention, and others. Hence, such a higher demand for lasers is expected to hike the growth of the market during the forecast period.
- Rising Inclination of Tattoos in the Younger Generation- In 2021, approximately 55% of adults in the United States were observed to have at least 1 tattoo, while around 6% of geriatrics were noticed to have 1 tattoo.
- Increasing Requirement for Minimally Invasive Surgeries- For instance, nearly 250,000 cholecystectomies are performed every year across the globe. Additionally, the rate of repair of inguinal hernia was estimated to be around 8 per 100,000 individuals in the United States.
- Significant Demand for Lasers in Dermatology- The skin treatment segment was projected to generate a revenue of approximately USD 0.60 billion in 2022.
Challenges
- Possibility of Side Effects owing to Laser Surgeries
- Higher Cost Associated with the Treatment
- The expensive expense of medical laser therapy prevents it from being widely used in both rich and developing nations. As an illustration, the price of LASIK eye surgery can range from USD 1,050 to USD 4,050 per eye. Furthermore, in the United States, the average cost of LASIK surgery in 2020 was USD 2,600 per eye, which was more expensive than in 2019.
- Requirement for Higher Initial Investment
Medical Laser Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
10.3% |
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Base Year Market Size (2024) |
USD 6.1 billion |
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Forecast Year Market Size (2037) |
USD 22.04 billion |
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Regional Scope |
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Medical Laser Segmentation
Application (Cardiovascular, Dentistry, Dermatology, Gynecology, Ophthalmology)
The global medical laser market is segmented and analyzed for demand and supply by application into cardiovascular, dentistry, dermatology, gynecology, ophthalmology, and others, out of which, the ophthalmology segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to rising cases of disorders and diseases of the eye. As of 2022, the revenue generated by the ophthalmic devices segment was estimated at around USD 30 billion.
Our in-depth analysis of the global market includes the following segments:
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By Laser Type |
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By Product |
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By Application |
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By End-User |
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Customize this ReportMedical Laser Industry - Regional Synopsis
North American Market Forecast
The North America medical laser market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be accounted to the skyrocketing number of cosmetics surgeries in the region. America was estimated to register the highest number of cosmetic surgeries across the globe. For instance, in 2020, more than 5 million surgical and cosmetic procedures were performed solely in the USA, up from approximately 1 million in 1997. Moreover, rising demand for minimally invasive procedures and growing cases of ophthalmic disorders are further estimated to hike the growth of the market in the region over the forecast period.
Companies Dominating the Medical Laser Landscape
- El.En. S.p.A.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Lumenis Be Ltd.
- Cynosure LLC
- BIOLASE, Inc.
- IRIDEX Corporation
- Cutera, Inc.
- Candela Corporation
- Ellex Inc.
- Topcon Corporation
- Lumentum Operation LLC
In the News
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IRIDEX Corporation to receive the regulatory clearance for its product Cyclo G6 to be sold in the market. Cyclo G6 has been developed for the treatment of glaucoma disease. Furthermore, Cyclo is launched in China along with the company’s distributors Topcon and Clinico.
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El.En. S.p.A.’s company Quanta System S.p.A. to donate surgical laser to the Onlus Manzo-Prod-Action.Aid. The laser has been donated for physiotherapy and dermatological application and it’ll be installed in Zimbabwe.
Author Credits: Radhika Pawar
- Report ID: 4437
- Published Date: Oct 11, 2024
- Report Format: PDF, PPT
