According to the latest market report published by Credence Research, Inc. “Surgical Lasers Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global surgical lasers market was valued at US$ 5.25 Bn in 2016, and is expected to reach US$ 7.77 Bn by 2025, expanding at a CAGR of 4.4% from 2017 to 2025.
Surgical lasers are medical devices that use precisely focused light sources to treat or remove tissues. For the purpose of the study surgical laser market is segmented on the basis of laser type, procedure and application. Different types of surgical lasers such as argon laser, CO2 lasers, diode laser, ND: Yag laser, erbium laser and other laser (fiber lasers, dye lasers and excimer lasers) are widely used in market. Currently, demand for CO2 laser is highest in market as these are gold standard for the soft tissue surgery due to the ease of simultaneous photo-thermal ablation and coagulation. Technological advancement in CO2 laser, growing use of CO2 laser in cosmetic surgery and increasing incidence of chronic skin diseases would assist CO2 surgical laser market growth during forecast period.
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Surgical lasers are used in different procedure such as laparoscopic surgery, percutaneous surgery and open surgery. Surgical lasers in laparoscopic surgeries will show highest market growth during forecast period due to rising demand for minimally invasive procedure. Surgical lasers are widely used in dentistry, dermatology, cardiology, gynecology, ophthalmology, oncology, urology, liposuction, ENT surgery or gastrointestinal procedures. Surgical lasers in urology will show highest market growth during forecast period due to growing prevalence of urological disorders such as urinary stones, cancers of the kidney lining, ureters and urinary bladder, obstructions or ureteral strictures.
Currently, North America dominates the global surgical lasers market, with United Sates being the largest country level market due to higher healthcare awareness, higher investment in R&D activities, technological advancement and higher demand for minimally invasive procedures. On the other hand, Asia Pacific is expected to show highest market growth during forecast period due to improving economic conditions in this region coupled with rising healthcare awareness are the most prominent market drivers in this region.
Market Competition Assessment:
The surgical lasers market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Alma Lasers Ltd., Biolitec AG, Bison Medical Co., Ltd., Boston Scientific Corporation, Cynosure Inc., Fotona D.O.O., IPG Photonics Corporation, Jena Surgical GmbH, Johnson & Johnson, LightScalpel LLC, Lumenis, Spectranetics Corporation Inc. and others.
Key Market Movements:
- Factors such as increase in number of chronic disease, technological advancement and increasing awareness of minimally invasive procedures are primarily driving the growth of surgical lasers market globally
- However, higher procedural costs associated with laser surgeries and stringent regulations bodies are negatively impacting the market growth of surgical lasers.