Medical Laser Market Size, Share, Growth Analysis, By Type(Surgical lasers, dental lasers, aesthetic lasers and others), By Product(Laser systems and consumables), By End Use(Hospitals, specialty clinics, ambulatory surgical centers and others), By Region - Industry Forecast 2024-2031

Medical Laser Market Drivers

Increasing Demand for Minimally Invasive Procedures

• Rising demand for cosmetic surgery, the popularity of less invasive procedures, and the prevalence of eye problems are the main drivers for market expansion. Additionally, it is expected that the increasing incidence of congenital heart disorders, coronary artery disease, glaucoma, age-related macular edema, and other diseases will drive market growth. For example, the American Society of Plastic Surgeons (ASPS) estimates that in 2020, 15.6 million surgeries and minimally invasive cosmetic treatments will be performed in the United States. Introduction of new lasers and process-specific applications. Innovative technology integration is a primary factor driving the market during the forecast period.

Introduction of Technologically Advanced Aesthetic Lasers

• One of the reasons influencing people to adopt minimally invasive cosmetic procedures around the world is to increase awareness of physical appearance. The demand for less invasive and time-consuming laser beauty procedures is increasing as a result. This factor is predicted to increase demand in the aesthetic laser systems and consumables market. The emergence of technologically improved procedure-specific aesthetic laser systems is driving women to undergo skin treatments for better results in less time. Increasing demand for specific laser treatments is driving major market participants to launch new energy-based aesthetic laser systems.

Medical Laser Market Restraints

High Costs and Side Effects of Laser Surgery

• The high cost of laser surgery techniques limits their use in established and emerging markets. For example, in the United States in 2020, the average cost of LASIK surgery was USD 2,632 per eye. This was a slightly higher expenditure compared to 2019. Furthermore, complications associated with laser operations, including scarring, kernelization, dyschromia, and others, hamper the market growth. To avoid complications, healthcare practitioners prefer alternative treatments that are less expensive and have fewer side effects than laser operations. This is exacerbated by the high cost of laser systems, particularly procedure-specific laser systems, in developing nations. This has hampered the acceptance and demand for new laser systems in many countries.