Surgical Lasers Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3166
Surgical Lasers Market size is projected to experience significant growth from 2019 to 2025.
Growing number of aesthetic procedures will stimulate surgical lasers market growth over the coming period. Large population from North and Latin American countries are rapidly adopting aesthetic procedures. As per Cosmetic Surgery National Data Bank, about 31,892 laser skin resurfacing procedures were performed across the U.S., in the year 2017. Moreover, expanding applications of lasers in aesthetic and reconstructive surgery will highly impact surgical lasers business growth in the coming years.
Increasing demand for minimally invasive surgeries will drive the demand for surgical lasers during the upcoming timeframe. Surgical procedures using lasers involve minimal bleeding as compared to the traditional surgical approach. Such procedures are completed within a shorter time span and at a relatively lower cost than the conventional surgery. Furthermore, high temperature associated with the surgical lasers decrease the risk of infection, that should upsurge surgical lasers market size over the forecast timeframe.
However, risks associated with usage of lasers in the surgical procedures may impede surgical lasers industry growth over the forthcoming years.
CO2 lasers market will progress at significant CAGR over the forecast period. These lasers are commonly used throughout surgery and medicine. CO2 lasers are tissue-selective and are beneficial for surgeons as they are flexible to switch from incision mode to coagulation mode. Such lasers prevent deep tissue damage and offer more precise incisions during the surgical procedures. Aforementioned advantages are estimated to accelerate product adoption, thus increasing CO2 lasers segmental growth in the forthcoming years.
Oncology surgical lasers application segment will hold a major segmental share throughout the projected years. Rising incidence of cancer will be the primary factor contributing to oncology segmental growth. As per Cancer Research UK, there were about 17 million new cases of cancer in 2018 throughout the world. Additionally, rapid incorporation of unhealthy lifestyle and eating habits will escalate the risk of cancer, thus positively impacting application of surgical lasers in oncology during the upcoming timeframe.
U.S. surgical lasers market is estimated to hold largest market share of North America surgical lasers market throughout the projection period. Rising demand for cosmetic procedures in the U.S. will boost the adoption of surgical lasers. According to the American Society of Plastic Surgeons, Americans spent over USD 16 billion on cosmetic surgery in 2017. Also, growing burden of chronic diseases such as cardiovascular diseases, cancer and neurological disorders will boost U.S. surgical lasers industry growth in the foreseeable future.
China surgical lasers market will foresee momentous growth owing to growing geriatric population in the country. Based on WHO statistics, 228,897 people were aged 60 years or more in China in 2017 and the number is forecasted to grow over the coming years. Elderly population is highly susceptible to chronic diseases and hence will impel the demand for minimally invasive surgery in the nation. Furthermore, rising adoption of advanced technological products will expand Chinese surgical lasers market size over the coming years.
Some of the major market players involved in the global surgical lasers market are Boston Scientific Corporation, Alma Lasers, Cynosure and Lumenis among the other market players. Firms are adopting novel product development and introduction to capture major market position and enhance their customer base. For instance, in October 2018, Carl Zeiss Meditec, Inc. received FDA approval for its VisuMax Femtosecond Laser for treatment of patients with astigmatism and myopia for use in small incision lenticule extraction (SMILE).
Surgical lasers market by product, 2014-2025 (USD Million)
- Argon laser
- Carbon dioxide (CO2 ) laser
- Neodymium:yttrium-aluminum-garnet (Nd:YAG) laser
Surgical lasers market by application, 2014-2025 (USD Million)
- Aesthetic surgery
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Abbott Laboratories
- Alma Lasers (Israel)
- Biolitec AG
- BISON MEDICAL Co., Ltd.
- Boston Scientific Corporation
- Carl Zeiss Meditec, Inc.
- Cynosure, Inc.
- IPG Photonics Corporation
- Spectranetics Corporation
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