Medical Lasers Systems Market Size, Trends and Growth Analysis by 2027

The medical laser systems market is anticipated to grow significantly, with projections indicating a rise from US$ 2,398.60 million in 2021 to US$ 5,834.02 million by 2028. This growth represents a compound annual growth rate (CAGR) of 13.5% over the period from 2021 to 2028.

This report outlines the prevailing trends and key factors contributing to the expansion of the medical laser systems market. The primary drivers of this growth include the increasing incidence of eye disorders and a notable rise in the aging population. However, the market faces challenges due to stringent safety regulations that may hinder its progress.

Medical laser systems are specifically designed to treat or excise tissues using concentrated light beams. When utilized effectively, these systems enable surgeons to perform intricate procedures, minimize blood loss, lessen postoperative pain, reduce the risk of wound infections, and promote enhanced wound healing.

The surge in eye disorders is a significant factor propelling the medical laser systems market. According to the World Health Organization (WHO), as of February 2020, approximately 2.2 billion people worldwide were projected to experience some form of near or far vision impairment. Alarmingly, around 1 billion of these cases could have been prevented or remain uncorrected. This group includes individuals suffering from various conditions such as refractive errors (88.4 million), cataracts (94 million), glaucoma (7.7 million), corneal opacity (4.2 million), diabetic retinopathy (3.9 million), trachoma (2 million), and presbyopia-related near vision weakness (826 million).

Geographically, the prevalence of distance vision impairment is significantly higher in low- and middle-income countries, being four times greater than in high-income nations. In 2021, over 80% of unresolved near vision defects were reported in West, East, and Central sub-Saharan Africa, while high-income regions like North America and Western Europe exhibited much lower rates. The growing population and aging demographics further increase the risk of visual impairment. Currently, cataracts affect around 65.2 million individuals, with over 80% experiencing moderate to severe vision loss, as noted by the WHO. As life expectancy rises globally, the number of individuals suffering from cataracts is expected to continue its upward trend.

Laser vision correction has emerged as a prevalent surgical option for cataract treatment. Patients increasingly prefer this method due to ongoing enhancements in visual outcomes and a decrease in postoperative complications. Innovations in flap formation technology, particularly the use of femtosecond lasers, have led to improved vision quality and a reduction in flap-related complications and postoperative dry eye disease (DED). Additionally, advancements in laser ablation profiles have contributed to superior vision quality, including enhanced night vision. Consequently, the growing incidence of eye diseases worldwide is driving the demand for medical lasers.

The global medical laser systems market is categorized based on product type, application, and end user. In terms of product type, the market includes diode lasers, solid-state lasers (such as holmium yttrium aluminum garnet (Ho:YAG), erbium yttrium aluminum garnet (Er:YAG), neodymium yttrium aluminum garnet (Nd:YAG), potassium titanyl phosphate (KTP), alexandrite, ruby, and thulium yttrium aluminum garnet (Tm:YAG) lasers), gas lasers (including CO2, argon, krypton, metal vapor, helium-neon, and excimer lasers), dye lasers, and fiber lasers (thulium, erbium, and ytterbium fiber lasers). In 2021, solid-state lasers held the largest market share, while diode lasers are projected to exhibit the highest CAGR during the forecast period.

When segmented by application, the market encompasses dermatology, ophthalmology, gynecology, dentistry, cardiology, urology, and others. The dermatology segment dominated the market in 2021, but the ophthalmology segment is expected to experience the highest growth rate in the coming years. In terms of end users, the market is divided into hospitals, specialty clinics, ambulatory surgery centers, and others. The specialty clinics segment had the largest market share in 2021, yet hospitals are anticipated to show the highest CAGR during the forecast period.

Impact of COVID-19 on the Medical Laser Systems Market

The COVID-19 pandemic has had a somewhat negative impact on the medical device industry, including medical laser systems. Many companies faced production shutdowns, which hindered their ability to meet rising demand. The pandemic has severely affected global economies, with health services in Europe prioritizing COVID-19 patients, leading to the suspension of routine healthcare services. Consequently, the medical treatment reliant on laser devices experienced significant disruptions.

Europe has historically been a leader in laser treatments, adapting to various cultural and medical practices. However, the pandemic has raised concerns regarding the safety of aesthetic treatments involving lasers and micro-needling, resulting in the temporary closure of these services across many European nations. Countries such as the UK, Belgium, Switzerland, Germany, France, Italy, and Spain have been particularly hard hit, leading to widespread business disruptions. As the vaccination rollout began in early 2021, restrictions started to ease, suggesting a potential recovery for the medical laser systems market.

Key organizations such as the World Health Organization (WHO), Canadian Dermatology Association (CDA), American Academy of Dermatology (AAD), and American Academy of Ophthalmology (AAO) have been instrumental in providing data and insights for this report on the medical laser systems market.