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Medical Lasers Market to Reach USD 10.57Billion by 2027; Rising Popularity of Cosmetic Procedures to Add Momentum, says Fortune Business Insights™

Market Overview:

The global medical lasers market is anticipated to gain impetus from the rising demand for aesthetic laser procedures, especially in the developing nations. Laser therapy is a medical treatment that uses intense beams of light for burning, cutting, or destroying a tissue. LASER stands for Light Amplification by Stimulated Emission of Radiation and is used for various diagnostic treatments. As per a report by Fortune Business Insights, titled, “Medical Laser Market Size, Share &COVID-19 Impact Analysis, By Type (Surgical Lasers, Dental Lasers, Aesthetic Lasers, and Others), By Product (Laser Systems, and Consumables), By End Users (Hospitals, and Specialty Clinics), and Regional Forecast, 2020-2027,” the value of this market was USD 4.37 billion in 2019 and is likely to rise at a CAGR of 13.9% to reach USD 10.57 billion between 2020 to 2027.

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An Overview of the Impact of COVID-19 on this Market:

The worldwide pandemic of COVID-19 has shaken the world economy. Most businesses are at a halt, import-export is not possible, and the entire world is hoping to come out of this situation. With the government support and necessary measures, we soon hope to overcome this situation and step into a better tomorrow. We, at Fortune Business Insights, are offering special reports on various markets impacted by the corona virus pandemic and its future objectives. These reports will help investors study the market thoroughly and accordingly chalk out business strategies for generating future revenues.

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The report is based on the following questions:

  • What is the nature of the market for medical lasers?

  • Which is the leading segment?

  • What is the impact of COVID-19 pandemic on the medical lasers market?

  • What are the current trends of the market?

Drivers & Restraints-

Increasing Demand for Minimally Invasive Surgeries to Bode Well for Market

The increasing prevalence of cosmetic procedures such as lip augmentation, rhino plasty, facelift, liposuction, breast augmentation, and others stands as a key factor propelling the medical laser market growth. Additionally, the rising prevalence of coronary artery diseases, age-related macular edema, coronary artery diseases, and other diseases is also adding fuel to the growth of the market. This, coupled with the advent of innovative technology and the integration of aesthetic medical laser procedures are likely to aid in the expansion of the market in the forecast period.

On the contrary, factors such as the high cost of laser surgeries may pose a major drawback to the market. This, coupled with the side effects of medical lasers such as acne, infection, scarring, changes in skin color, redness, itching, and others may also hamper the overall growth of the market. Furthermore, the current corona virus pandemic is also creating new challenges for the market.

Nevertheless, the increasing popularity of procedure-specific aesthetic laser systems for various skin and beauty related treatments is attracting a large number of the female population, thereby creating lucrative growth opportunities for the market.

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Aesthetics Segment Earned Dominance Attributed to Increasing Number of Minimally Invasive Surgeries

With respect to segmentation by type, the aesthetics segment emerged dominant in 2019with 47.1% medical laser market share. The growth of this segment is attributed to the increasing number of cosmetic minimally invasive surgeries.

Regional Analysis-

North America Dominated Market with Highest Number of Cosmetic Procedures

Geographically, North America earned the dominant share with USD 1.87 billion in 2019. This is accountable to the increasing number of cosmetic surgeries and the rising demand for minimally invasive surgeries. Europe ranked second whereas Asia Pacific is likely to become the fastest growing region in the forecast period. This is attributable to the rising popularity of anti-aging treatment, hair removal procedures, and others. Furthermore, the rising demand for aesthetic lasers is likely to help the market in Latin America and Europe showcase significant growth in the coming years.

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Competitive Landscape-

Players Focusing on Establishing Brand across Geographies to Earn Lion’s Share

The global market for medical lasers is semi-consolidated as only a few top companies are holding prominent shares. Some of the players are engaging in establishing their brand presence and offering a wide range of products in various fields, such as ophthalmology, aesthetics, and surgical areas. The other players in this market are focusing on strengthening their distribution channel and expanding their geographical presence to gain a significant position in the competitive landscape.

Prominent Industry Developments of the Market for Medical Laser Include:

February 2020 –
Clear Skin PRO was launched by Alma Lasers for delivering an estimated 3,000 ml of non-ablative laser energy per pulse. This will help improve the aesthetic laser sector portfolio of the company.

January 2020 – Lumen is disclosed a new platform called the Light Sheer Quattro during the 22nd International Master Course on Aging Science (IMCAS) conference. The Light Sheer is meant for laser hair removal for all types of skin.

Some of the Key Players of the Medical Lasers Market include:

  • IRIDEX Corporation(California, United States)

  • Sisram Medical Ltd.(Caesarea, Israel)

  • CANDELA CORPORATION(Massachusetts, United States)

  • En. S.p.A.(Calenzano FI, Italy)

  • BIOLASE, Inc. (California, United States)

  • Fotona(Ljubljana, Slovenia)

  • Ellex Medical Lasers Ltd. (Adelaide, Australia)

  • Topcon Corporation (Tokyo, Japan)

  • Lumenis Ltd. (Maryland, United States)

  • Others

About Us

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand current competitive challenges.

Author’s Bio

Name- Raginee Sarkar

Raginee currently works as a content writer at Fortune Business Insights™. She comes with extensive experience in writing advertising and marketing content, blogging, film scripting, and news reporting. She strongly believes in quality content and thus prefers to write in a simple, elegant, yet impactful way.

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  • Aug 5 2021
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