28 June 2022

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Medical laser market to pass $5B

Katherine E. Pfaff

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The global market for medical laser systems is projected to grow to a value of $5.79 billion over the next 4 years, according to a report by ResearchAndMarkets.com. The market’s growth would amount to a CAGR of 14.49% across the forecast period of 2022 to 2026. 

After a mild slowdown due to the pandemic and reduced numbers of elective procedures, the market is expected to grow in the coming years.

In 2021, the market was valued at $2.95 billion. The market includes a wide range of uses of lasers, including for medical procedures to dissolve or cut tissue as well as cosmetic uses to resurface the skin.

Demand for medical lasers is expected to grow as cosmetic procedures continue to be popular and as patients age and disease rates increase. Further, the medical laser market is expected to be boosted by advancements in technology, including artificial intelligence, and ongoing product launches. 

As laser treatments become safer, more common, and offer greater breadth of options, the market will be positively impacted. The market is also made up of high number of companies that produce medical lasers, which is likely to lead to innovation and investment in research and development.

Market growth is thought to be potentially challenged by cost of medical lasers and regulatory requirements. 

Source:  https://www.prnewswire.com/news-releases/the-worldwide-medical-laser-systems-industry-is-projected-to-reach-5-79-billion-by-2026--301570247.html