The Global Medical Laser Market to Reach $9.2 Billion by 2027. Medical Tourism Creating Enormous Growth Opportunities for Vendors - Arizton
The global medical laser market was valued at $4.2 billion in 2021 and is expected to reach $9.2 billion by 2027.
Chicago, June 16, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the global medical laser market will grow at a CAGR of 14%. Prevalence of eye-related disorders, rise in the number of cosmetic and aesthetic procedures, increase in minimally invasive surgical procedures, expansion of medical tourism, and adoption of advanced laser-based treatments are the major factors contributing to the growth of the market.
The demand for medical lasers in hospitals will propel with the rise in the number of hospitals and medical tourism for cosmetic surgeries. North America is the top-rated medical tourism destination in the world. The medical reputation of the US and Canada has been maintained high for a long time.
Medical Laser Market Report Scope
Report Attributes | Details | |
MARKET SIZE (2021) | $4.2 Billion | |
MARKET SIZE (2027) | $9.2 Billion | |
CAGR (2022-2027) | 14% |
|
BASE YEAR | 2021 |
|
FORECAST YEAR | 2022-2027 | |
MARKET SEGMENTS | Type, Power, Application, Procedure, End-User, and Geography | |
GEOGRAPHIC ANALYSIS | North America, Europe, APAC, Latin America, and Middle East & Africa | |
COUNTRIES COVERED | US, Canada, Germany, France, UK, Italy, Spain, Denmark, Sweden, China, Japan, India, Australia, South Korea, Thailand, Brazil, Mexico, Argentina, Columbia, Turkey, Saudi Arabia, South Africa, and Israel |
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A wide base of medical laser manufacturers is established across the world with the growth in demand for laser-based treatments. Well-known companies acquire emerging and start-up medical laser manufacturers to strengthen their positions in the market globally. These acquisitions help the companies in expanding their consumer base, minimize marketplace competition, and create a value that is higher than each company offering individually. Major medical laser manufacturers, such as Candela Medical, Boston Scientific, and Hologic have strengthened their positions in the market through acquisitions.
Key Highlights
The high demand for aesthetic and cosmetic procedures among adult and aging populations owing to the rise in awareness regarding physical appearance is driving the global medical lasers market.
In 2021, the diode laser devices segment accounted for the highest share of more than 44.5% in the global medical lasers market.
The high-power laser devices segment accounted for the highest share of more than 54.3% in the global medical lasers market.
In 2021, the diagnosis, therapy & surgery segment accounted for the highest share of around 61% in the global medical lasers market.
The global ophthalmology lasers market is expected to grow at a CAGR of 14.22%.
North America is leading the global medical laser market with the largest share of 39.00% in 2021. It is estimated that the APAC region is expected to have the fastest growth compared to the other regions.
Competitive Landscape
The global medical lasers market is highly competitive and dynamic, characterized by the existence of many global, regional, and local vendors providing a diverse range of lasers. Some major acquisitions by vendors have proven to be beneficial. For instance, in early 2020, the affiliated private equity funds of Baring Private Equity Asia acquired Lumenis, a leading provider of specialty energy-based medical devices across the fields of urology, aesthetics, ENT, ophthalmology, and gynecology, with an international presence. This led other players to emerge and secure leading positions in the market. Vendors should target customers who prefer products offered by competitors in the market. Such competitive pressure may result in the reduction of prices and reduced margins for products.
Key Vendors
Bausch & Lomb
Candela Medical
Koninklijke Philips N.V
Boston Scientific
Hologic
Fotona
Cutera
En. S.P.A.
IRIDEX Corporation
Shanghai Fosun Pharmaceutical
Other Prominent Vendors
Beijing ADSS Development
Advanced MedTech
Aerolase
Alcon
Alna-Medicalsystem AG & Co. KG
AngioDynamics
Aspen Laser
Astanza Laser
Beijing Sanhe Beauty S & T Co.
BIOLASE
biolitec A.G.
Biotec Italia Srl
Bison Medical
Bluecore Company
Coherent
CryoLife
Dentsply Sirona
Dominion Aesthetic Technologies
Domino srl
Gigaalaser
InMode
P.G. Photonics
Jenoptik
Leaflife Technology
LINLINE Medical Systems
Lutronic
Lynton Lasers
MedArt ApS
Medency
PhotoMedex
Ra Medical Systems
REIMERS & JANSSEN GmbH
Sciton
Venus Concept
Wavemed S.R.L.
Wuhan Dimed Laser Technology
WUHAN ZJZK TECHNOLOGY
ZEISS International
Zimmer MedizinSysteme GmbH
Market Segmentation
Type
Diode Laser Devices
Gas Laser Devices
Solid-State Laser Devices
Dye Laser Devices
Power
High
Low
Application
Diagnosis
Therapy & Surgery
Aesthetics
Procedure
Ophthalmology
Dermatology
Dentistry
Gynecology
Urology
Cardiology
Others
End-User
Hospitals
Aesthetic Clinics
Physicians’ Office
Others
Geography
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Denmark
Sweden
APAC
China
Japan
India
Australia
South Korea
Thailand
Latin America
Brazil
Mexico
Argentina
Columbia
Middle East & Africa
Turkey
Saudi Arabia
South Africa
Israel
Explore our healthcare lifesciences profile to know more about the industry.
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