CO2 Medical Laser Systems Market (2023 - 2030)

Report Overview

The global CO2 medical laser systems market size was valued at USD  500.0 million in 2022 and is projected to grow from USD 725.5 million in 2026 to USD 1,067.9 million by 2030, at a CAGR of 10.0% from 2023 to 2030. North America dominated the market, accounting for a revenue share of 31.1% in 2022. The demand for CO2 medical laser systems is increasing due to technological advancements, increasing adoption of laser treatments for aesthetic procedures, high demand for tattoo removal, strategic initiatives by key companies, and rising adoption of laser systems by veterinary care providers. There has been a rise in the prevalence of chronic diseases, such as cancer, urological disorders, stroke, neurovascular diseases, and cardiovascular disorders. According to the WHO, in September 2022, non-communicable diseases were responsible for the death of approximately 40 million people annually worldwide, which is 74% globally.

Source: Grand View Research, IR Documents, Primary Interviews, Paid Databases

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Factors, such as high blood pressure, obesity, diabetes, and other unhealthy lifestyle-related disorders result in a higher percentage of the population developing non-communicable diseases. The following represents statistical data for the prevalence of various chronic disorders: Cardiovascular Diseases: According to the WHO, in 2021, approximately 17 million people died from these, which is 32% of the global death rate. Furthermore, among these deaths, 85% were caused due to stroke and heart attack. Cost savings & additional benefits to patients, such as improved healthcare, cutting-edge technologies, sophisticated devices, breakthrough medicines, superior hospitality, and individualized care, are some of the major growth drivers.

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Medical procedures can prompt people to travel to different countries for better treatment at affordable prices. Cosmetic surgery at a lower cost is an extremely popular choice in medical tourism. According to news article research by CNN health, in February 2019, having surgery abroad saves approximately 40 to 80% of the total cost. The top destinations for individuals seeking cosmetic surgery are Brazil, Japan, Italy, Mexico, Russia, India, Turkey, Germany, and France. According to an article released by SchengenVisaInfo.com, in October 2022, nearly 65,000 foreigners from around 177 different countries, such as Poland, Russia, the Netherlands, South Arabia, and Ukraine, came to Germany to receive medical treatment in 2020.

Furthermore, approximately 1,000 foreigners, mostly from Russia and Ukraine, were treated at University Clinic Freiburg in 2020, which dropped to 800 in 2021. The medical tourism sector has been growing at a significant rate, where individuals are traveling across borders for at least a single night to restore, rejuvenate, or maintain health via medical intervention. According to estimates by India’s Ministry of Tourism, the country witnessed around 186,644 Foreign Tourist Arrivals (FTAs) in 2020 for medical reasons, accounting for total FTAs of 7%. The increasing prevalence of chronic conditions, such as heart disease, cancer, and diabetes, is boosting the demand for CO2 medical laser systems.

For instance, according to the International Diabetes Federation 2021 report, the number of people living with diabetes was approximately 537 million adults (20-79) in 2021 and is expected to reach nearly 783 million by 2045.  Similarly, according to the International Society of Aesthetic Plastic Surgery, the number of surgical procedures performed in 2021 in the U.S. was 22.4 million. According to the International Society of Aesthetic Plastic Surgery, in 2021, there were approximately 7,500 plastic surgeons, which is 17.0% of the total number of surgeons in the U.S. These factors are expected to positively impact the market growth during the forecast period.

Application Insights

The dermatology segment held the largest share of more than 21.55% in 2022 of the overall revenue. The segment dominates the market due to increasing demand for esthetic products and treatments. Rising individual awareness, growing adoption of noninvasive & minimally invasive procedures, and increasing demand for esthetic procedures, such as skin rejuvenation, skin tightening, & contouring are anticipated to act as high-impact rendering drivers. In addition, the growing prevalence of various skin conditions, such as dermatitis, acne, psoriasis, moles, skin warts, and lesions, as well as the increasing prevalence of skin cancer—especially in emerging economies—is estimated to boost the CO2 medical laser system market over the coming years. The veterinary segment is expected to exhibit the fastest growth rate during the forecast period.

Laser treatments for pets are a novel rehabilitation technique, used in veterinary medicine for therapeutic and rehabilitation purposes. The primary treatment in use is noninvasive photobiomodulation therapy, in which, a laser beam penetrates the tissue and skin, helping improve the flow of blood. On average, it takes 10 to 14 days for a pet to heal completely post-treatment. Increasing demand for therapeutic lasers, technological advancements, strategic initiatives by key companies, and rising adoption of laser systems by veterinary care providers are some of the key factors propelling the segment growth. According to the American Veterinary Medical Association, the U.S. had about 124,069 veterinary practitioners in 2022. An increase in the number of veterinary hospitals and clinics is likely to further fuel the growth.

End-user Insights

The outpatient facilities segment accounted for the maximum share of more than 46.70% in 2022. The increasing investments in R&D and the growing incidence of chronic diseases will drive segment growth. Moreover, the growing need for lasers and their cost-efficient production is anticipated to further drive the segment. In addition, these standalone practices provide special health packages for their employees, thus boosting segment growth. Growth in this segment can mainly be attributed to an increase in the number of specialist clinics performing cosmetic surgeries. Surgical procedures in these clinics are less time-consuming than those in hospitals. Clinics offer treatment or medical care that does not require overnight stays.

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Moreover, these clinics are accessible & cost-effective compared to hospitals and offer faster services. Postsurgical monitoring and care are necessary, which is also boosting the demand for dermatology & cosmetics clinics. They provide efficient and effective patient care, maintain a safe environment, and offer an extensive array of services. In addition, the short duration of breast augmentation surgeries performed in these facilities is another key factor contributing to segment growth. A growing number of plastic surgeons are preferring ambulatory implantation surgeries to reduce postsurgical complications and discharge patients with proper pain management. These factors are likely to propel segment growth in the near future.

Regional Insights

North America held the largest share of more than 31.10% in 2022. An increase in the number of surgical procedures/hospital visits, the presence of well-established healthcare infrastructure, and favorable reimbursement & regulatory policies in the healthcare industry are among the factors expected to create significant growth opportunities in the market. In addition, the availability of skilled professionals, and high disposable income in developed economies are some of the factors responsible for the large share of North America. Asia Pacific is expected to register the fastest growth rate during the forecast period. A large patient pool and the growing need for technologically improved & cost-effective healthcare solutions are predicted to create considerable growth potential in the region.

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As a result of low-cost services and an increase in clinical trials, multinational businesses are making significant R&D investments to tap into emerging markets in the Asia Pacific. These factors will have a significant impact on the region’s growth. A few other factors promoting regional market expansion are improvements in clinical development framework in key nations and a rise in hospital admissions. In addition, it is anticipated that in the coming years, the burden of chronic diseases and the rising geriatric population in the Asia Pacific will drive product demand. The three most prevalent diseases in the region, according to the WHO, were cancer, diabetes, and cardiovascular disorders. However, the regional market expansion could be hampered by a shortage of experienced professionals, a lack of advanced healthcare facilities, and a poor reimbursement environment.

Key Companies & Market Share Insights

As the demand for CO2 medical laser systems increases, global manufacturers are accelerating their production processes and modernizing them with cost-effective solutions. To support the growing demand for various CO2 medical laser system applications, leading companies are pushing for higher product quality. For instance, in May 2021, Alma Lasers launched Alma PrimeX, a noninvasive platform for skin tightening and body contouring. In addition, in January 2021, Candela announced the launch of the Frax Pro System, featuring dual-depth skin resurfacing using Frax 1550 and Frax 1940 applicators.

In 2022, DEKA M.E.L.A. srl was awarded Best Lasers, Lights, and Energy-based Devices by AGAIN laser at the Aesthetic and Anti-Aging Medicine World Congress (AMWC), held in Monte Carlo. The AGAIN laser is one of the fastest and most powerful platforms in the world for vascular treatments, hair removal, nonablative photorejuvenation, superficial pigmented lesions, and onychomycosis. Some of the prominent players in the global CO2 medical laser systems market include:

• LightScalpel

• Limmer Laser GmbH

• Lumenis Be Ltd. (Boston Scientific Corp.)

• Herdeks

• Alma Lasers

• Bison Medical

• DEKA M.E.L.A. srl

• UNICORN

• Cutting Edge Laser Technologies

• IDS

• Candela Medical

• Cynosure

• Lutronic Aesthetic Laser, Visual And Surgical Laser

• Aakar Enhancing Life Through Technology

• Lynton Laser Ltd.

• Cutera

Global CO2 Medical Laser Systems Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global CO2 medical laser systems market report based on application, end-user, and region:

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• CO2 Medical Laser Systems Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Dermatology

  • Ophthalmology

  • Gynecology

  • Urology

  • Dentistry

  • Cardiovascular

  • Veterinary

  • ENT

  • Others

• CO2 Medical Laser Systems End-user Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

    • Outpatient Facilities

    • Specialty Clinics

  • Ambulatory Surgical Centers

    • Research & Manufacturing

    • Research Institutes

    • Academic Institutes

• CO2 Medical Laser Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Norway

    • Denmark

    • Sweden

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait