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Global Medical Lasers Market valued at close to $3.5 billion (2020), is growing at a CAGR from 8-12%

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Medical lasers use precisely focused light sources to treat or remove tissues. These are used during cosmetic surgeries, refractive eye surgeries, dental procedures, and general surgeries. Further, medical lasers are also used in radiotherapy for patient positioning.

The global medical lasers market is driven by the growing prevalence of ophthalmic, dermatology, and dental disorders.

Demand for medical lasers is expected to grow as the prevalence of various disorders increases. Ophthalmic is one of the major segments and its growth is driven by the rising incidence of cataracts/glaucoma/age-related macular degeneration (AMD). According to the CDC statistics, ~17% of the people over 40 years of age in the U.S. suffer from cataract conditions (~21 million population). The incidence of cataracts is projected to reach 30 million by 2028 in the U.S. Further, as per the International Agency for the Prevention of Blindness, the number of people suffering from age-related macular degeneration (AMD) will grow from 196 million in 2020 to 288 million by 2040.

Technological Advancements are driving the Medical Lasers market demand

Medical laser companies are consistently launching innovative products with new features and applications. For instance, Norlase (HQ: Denmark/US), has developed a medical laser with 1/10th of the size of competing products, is battery-powered, and has voice control features. Such technological advancements have helped broaden the adoption of medical lasers.

COVID-19 underscored the importance of Laser-assisted Dentistry

The American Dental Association (ADA) has recommended reducing aerosol production to help prevent transmission of the virus during dental procedures. Many dental practices use traditional high-speed handpieces that produce an aerosol. The use of medical lasers can reduce aerosol production. For instance, Biolase, a dental lasers company – claims to generate 98% less aerosol than dental handpieces. This is likely to increase the demand for dental lasers by the dental practices.

Competitive Landscape Analysis: Medical Lasers Market

The medical lasers market is competitive and fragmented. The key players operating in the medical lasers market are Lumenis, Dentsply Sirona, Alcon, Iridex, Biolase, AMD Lasers, Boston Scientific, Bausch & Lomb, Cutera, Cynosure, Syneron-Candela, Zeltiq (part of Allergan), Ellex, Ziemer, Nidek, Lap Lasers, and Cypra, among others.

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