Medical Laser Market by Device Type (Solid-state Lasers, Gas Lasers, Dye Lasers, Diode Lasers); Fiber Type (Disposable Laser Fibers, Reusable Laser Fibers); Device Application, Fiber Application, and Geography – Global Forecast to 2028

Redding, California, Oct. 27, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled “Medical Laser Market by Device Type (Solid-state Lasers, Gas Lasers, Dye Lasers); Fiber Type, Device Application, Fiber Application, and Geography — Global Forecast to 2028,” published by Meticulous Research®, the medical laser market is expected to grow at a CAGR of 15.3% from 2021 to 2028 to reach a value of $4.32 billion by 2028.

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Medical lasers are devices that use precisely focused light sources for treating or removing tissues. Since lasers can accurately focus on tiny areas, they are used for precise surgical works or for cutting through tissue in place of a scalpel. Lasers are commonly employed in many medical disciplines; dermatology, dentistry, cardiology, neurosurgery, and eye surgery, due to their ability to deliver high precision treatments while remaining minimally invasive. Laser-based therapies and diagnostic methods represent an area of huge future potential. The increasing number of cosmetic procedures, rising preference for minimally invasive procedures, and growing prevalence of eye disorders are the major factors supporting the growth of this market.

The growth of medical tourism is expected to provide significant growth opportunities for market players. However, factors such as the high cost of lasers, stringent safety regulations, and risks associated with lasers are expected to hinder the growth of this market.

The Impact of COVID-19 on the Medical Laser Market

The COVID-19 pandemic caused a widespread economic downturn as several countries imposed strict lockdowns to contain the infection. This has severely affected many industries, including the healthcare industry. There has been a significant impact on the entire supply chain, from raw materials to manufacturing and delivery. Healthcare resources have been prioritized to cater to patients affected by COVID-19. However, the routine healthcare services remained suspended to curb the spread of infection. As the lockdowns gradually lifted towards the end of June 2020, there was an influx of patients seen for laser surgeries, such as refractive, urology treatments, and cardiovascular.

One of the treatments that witnessed an increase in demand during the COVID-19 pandemic was aesthetic procedures. The major reason for the increase in these procedures during 2020, which was revealed during consultations, was that people started noticing the need for facial surgeries to get their desired appearance during their work video calls. Another segment that witnessed an increase in the number of patients was refractive surgeries. The rates of refractive surgeries have witnessed a gradual increase since the reopening of ophthalmic surgery centers during the COVID-19 pandemic.

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Based on device type, the diode lasers segment is expected to grow at the highest CAGR during the forecast period. Diode lasers are used in various surgical procedures such as hair removal, soft tissue cutting, aesthetic procedures, dental surgeries, coagulation, and thermal cancer therapy. The rising risk of oral cancer has encouraged various public and private companies to develop high-powered diode lasers to treat cancer-related issues. According to WHO, lip and oral cavity cancers are among the top 15 most common cancers globally. In South-East Asia and Western Pacific regions, the major cause of death among males is cancer. These factors are expected to create demand for diode lasers during the forecast period.

However, the solid-state lasers segment is expected to account for the largest revenue share of the overall medical laser devices market in 2021. The use of solid-state lasers in medical applications, such as treatment procedures for scar removal, melisma treatment, and skin resurfacing, has encouraged various healthcare facilities to adopt these lasers technologies for treatments.

Based on fiber type, the disposable laser fibers segment is expected to account for the largest share of the overall medical laser fibers market in 2021. This segment is also expected to witness the highest CAGR during the forecast period. A disposable laser fiber is a one-time surgical optic laser fiber with rare-earth elements to deliver laser light to tissue. These laser fibers are usually preferred due to their benefits, such as safety, high efficiency, and minimal risk of cross-contamination between surgeries. Several market players are investing in the development of medical laser fibers for better productivity. For instance, in 2021, OmniGuide Holdings, Inc. launched a new OTO-U CO2 laser system fiber. This fiber is used in ENT and otology surgeries and enables surgeons to reach narrow areas with more precision resulting in improved procedure results.

Based on device application, the urology segment is estimated to witness the highest CAGR during the forecast period. The rising number of patients with kidney diseases, chronic kidney disorders, urinary tract infections, and the growing elderly population are factors driving the market growth of this segment. Additionally, urinary tract infections are also one of the most common types of infections. According to the International Society of Nephrology, in 2020, more than 850 million people had kidney diseases globally.

Furthermore, in 2020, in the U.S., cases of bladder cancer were around 81,400, and about 17,980 deaths (Source: American Cancer Society). In 2021, in the U.S., bladder cancer cases stood at 83,730 (about 64,280 in men and 19,450 in women), and 17,200 deaths were reported from bladder cancer (about 12,260 in men and 4,940 in women). Companies are initiating several strategic developments for the development of urology medical lasers. For instance, in 2020, Olympus Corporation launched its Soltive SuperPulsed Laser System, a new application of thulium fiber laser technology designed for stone lithotripsy and soft tissue applications.

However, the dermatology segment is expected to account for the largest market share of the medical laser devices market in 2021. According to the American Society of Plastic Surgeons (ASPS), in 2018, almost 18 million people underwent surgical and minimally invasive cosmetic procedures in the U.S. The increasing number of cosmetic surgeries simultaneously increases the usage of medical lasers in these treatments, thereby driving the growth of the medical lasers market.

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Based on fiber application, the cardiology segment is estimated to witness the highest CAGR during the forecast period. Cardiovascular surgeons use various laser fibers such as Nd:YAG, holmium, and CO2 to treat patients suffering from heart diseases or heart attacks, stroke, or blood clots and individuals at high risk of these problems. Hence, increasing the demand for laser fibers and driving the market growth of this segment. China accounts for the highest number of heart disease-related deaths globally, followed by India, Russia, the United States, and Indonesia. According to American Heart Association, the U.S. registered approximately 240,000 coronary artery bypass graft (CABG) surgeries per year. The growing number of cardiovascular surgeries across the globe has increased the demand for medical laser fibers for heart surgeries.

Based on geography, Asia-Pacific is expected to grow at the fastest CAGR in the overall medical lasers market during the forecast period. The major factors contributing to the growth of the medical lasers market in this region include the growth of medical tourism in most of the Asian countries, rising disposable income, growing awareness and adoption of minimally invasive aesthetic procedures, governments support to provide better medical infrastructures and the entrance of several medical device manufacturers into the market.

In countries such as China and Japan, the governments have constantly introduced policies to support the standardization of the aesthetic medicine industry. Furthermore, the digital media marketing of aesthetic procedures has created consumer awareness resulting in explosive growth in the market. India is also at the forefront of development in the medical lasers market, with the government’s continual effort to boost the medical technology market.

The medical lasers market in China is flourishing as these laser technologies are extensively implemented during cosmetic surgeries. The demand for cosmetic surgery is driven by the growing Chinese middle-class population and their increased desire and consciousness for better health and body care. Rapid urbanization, increasing investments by healthcare providers towards infrastructure improvement, increasing awareness among the population, growing beauty consciousness, and the growing availability of a range of advanced products and technologies contribute to the growth of this market.

The key players operating in the overall medical lasers market are Lumenis, Ltd. (Israel), Fotona d.o.o. (Slovenia), BIOLASE, Inc. (U.S.), IRIDEX Corporation (U.S.), CUTERA, INC. (U.S.), Alna-Medicalsystem AG & Co. KG (Germany), Bausch & Lomb Incorporated (U.S.), Boston Scientific Corporation (U.S.), Alcon, Inc. (Switzerland), STRYKER CORPORATION (U.S.), Alma Lasers (Israel), biolitec AG (Germany), Bluecore Company (South Korea), Cynosure (U.S.), PhotoMedex (U.S.) and Spectranetics (U.S.) among others.

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Scope

Medical Laser Devices Market, by Type

• Solid-State Laser Devices

  • Neodymium Yttrium Aluminum Garnet Laser Devices (Nd:YAG)

  • Erbium Yttrium Aluminum Garnet Laser Devices (Er:YAG)

  • Holmium Yttrium Aluminum Garnet Laser Devices (Ho:YAG)

  • Alexandrite Laser Devices

  • Potassium Titanyl Phosphate Laser Devices

  • Ruby Laser Devices

• Gas Laser Devices

  • Co2 Laser Devices

  • Excimer Laser Devices

  • Argon Laser Devices

  • Helium-Neon (HE-NE) Laser Devices

  • Krypton Laser Devices

  • Metal Vapor (Copper and Gold) Laser Devices

• Diode Laser Devices

• Dye Laser Devices

Medical Laser Fibers Market, by Type

• Disposable Laser Fibers

• Reusable Laser Fibers

Medical Laser Devices Market, by Application

• Dermatology

• Ophthalmology

• Urology

• Dentistry

• Cardiology

• Gynecology

• Other Applications

Medical Laser Fibers Market, by Application

• General Surgeries

• Urology

• Dermatology

• Gynecology

• Cardiology

• Dentistry

• Other Applications

Medical Laser Market, by Geography

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • Italy

  • France

  • Spain

  • Rest of Europe

• Asia-Pacific (APAC)

  • China

  • Japan

  • India

  • South Korea

  • Rest of APAC (RoAPAC)

• Latin America

• Middle East & Africa (MEA)

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