According to a recent report by Growth Plus Reports, the global medical laser market was valued at US$ 3.90 billion in 2021 and is expected to surpass US$ 13.93 billion by 2030, at a revenue CAGR of 15.20%. The report analyses top winning strategies, drivers & opportunities, competitive scenarios, wavering market trends, market size, statistics & estimations, and major investment pockets.
Key Takeaways:
- The rising prevalence of cancer and ophthalmic diseases will provide plenty of growth opportunities for the medical laser market.
- North America will dominate the global medical laser market.
- Technological advancements will fuel the growth of the medical laser market.
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Medical Laser Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 3.9 Billion |
| Revenue forecast in 2030 | US$ 13.93 Billion |
| Growth Rate | CAGR of 15.20% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | Product Types, Application, End User and Region. |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers
The increasing rates of complex surgeries, fewer infection chances, increasing demand for minimally invasive surgical procedures, high precision, and the rising prevalence of cancer and ophthalmic diseases are the primary factors driving the revenue growth of the global market. Furthermore, the high adoption rate, application in varied therapeutic areas, and integration of artificial intelligence in laser surgeries will support market revenue growth.
Market Segmentation
Growth Plus Reports has analyzed the global medical laser market from four perspectives: Product Type, Application, End User, and Region.
Product Type Segmentation: Based on the product type, the global medical laser market is segmented into solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems. The solid-state laser system segment dominates the market with the largest revenue share because of the availability of different wavelengths, use in multiple therapeutic areas, and high reliability.
Application Segmentation: Based on the application, the global medical laser market is segmented into ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others. The ophthalmology segment dominates the market with the largest revenue share because of its profound outcomes in myopia, hyperopia, astigmatism, and presbyopia.
End-User Segmentation: Based on the end-user, the global medical laser market is segmented into hospitals, specialty clinics, and ambulatory surgical centers. The hospital segment dominates the market with the largest revenue share because of the high patient footfall for diagnosis and treatment, advanced healthcare infrastructure, and better reimbursement policies.
Regional Growth Dynamics
Based on the region, the global medical laser market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the global medical laser market due to the increasing prevalence of chronic diseases, increasing healthcare expenditure, advanced healthcare infrastructure, technological advancements, favorable reimbursement policies, and the presence of key players in this region.
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Competitive Landscape
The major players operating in the global medical laser market are:
- Novartis AG
- Sanofi S.A.
- Orion Pharma Ltd.
- F. Hoffman-La Roche Ltd
- Teva Pharmaceuticals Industries Inc.
- ACADIA Pharmaceuticals Inc.
- Merck & CO. Inc.
- Pfizer Inc.
- H. Lundbeck A/S
- Biogen Inc.
- UCB S.A.
- Boehringer Ingelheim International GmbH
The medical laser market is highly competitive, with several key players. Key players operating in the market are implementing competitive sustainability tactics such as product development and regional presence growth. Major firms are aggressively acquiring other companies to strengthen their global market positions.
Recent developments:
- MaxiVision Eye Hospital launched the Technolas Teneo 317 Model 2 in July 2022. (Teneo M2). The Teneo M2 is a cutting-edge, high-performance excimer laser developed by expert German engineers.
- Iridex Corporation, a provider of innovative ophthalmic laser-based medical products for the treatment of glaucoma and retinal diseases, received regulatory approval from China’s National Medical Products Administration in June 2022 to market and sell its Cyclo G6 platform for the treatment of glaucoma diseases (NMPA)
- LENSAR received FDA 510(K) clearance for the next-generation ALLY adaptive cataract treatment system in June 2022. ALLY is the first device approved by the FDA for femtosecond laser-assisted cataract surgery (“FLACS”).
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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