The global medical lasers market was valued at USD 5116 million in 2016, and is projected to reach USD 12,586 million by 2023, registering a CAGR of 13.6 percent, states Allied Market Research. The increase in incidence of various diseases, such as cardiovascular, urological, skin problems, and eye-related diseases, has resulted in the rise in adoption of medical lasers as they provide non-invasive treatment. Furthermore, increased importance to aesthetics has led to adoption of various medical lasers in cosmetic surgeries.
There has been an increased focus of the key vendors in the medical lasers market on emerging markets, namely, Asia-Pacific and LAMEA. This is expected to boost the growth of the market. Brazil is experiencing high adoption of medical lasers for oral care due to various dental complications in the Brazilian population. As per the data obtained from the Brazilian Oral Health Survey (SBBrasil 2010) Project there was a prevalence of around 48.2 percent nontreated dental caries. Such high prevalence of dental complications is expected to boost the adoption of medical lasers for treatment purposes, since dentistry is the fastest growing application of medical lasers.
Globally, there is an increased demand for cosmetic surgery procedures, which include surgical and nonsurgical procedures that improve the appearance by reshaping and enhancing the body structure. For instance, as per a report published by American Society of Plastic Surgeons in 2016, around 1.8 million cosmetic surgical procedures and 15.5 million cosmetic minimally invasive procedures were performed. Similarly, in 2015, around 1.1 million laser hair removal procedures were performed globally. This high adoption of medical lasers in the area of cosmetic surgery is expected to propel the growth of medical lasers market.