Global Surgical Laser Market Projected to Reach USD 1403.8 Million by the End of 2025
The Global Surgical Laser Market exhibited a value of USD 882.5 million in 2017, and is expected to reach USD 1403.8 million by 2025, growing at a CAGR of 6.1% during 2018–2025.
The key factors boosting growth of the market are:
- Technological advancements in the surgical laser provide convenience to patients and medical professionals which ?is expected to spur the demand
- Growing preference for minimally invasive surgeries
Surgical Laser is gaining traction over conventional techniques because of its accuracy, high efficiency and growing demand of minimally invasive treatment. The global surgical lasers market is driven by presence of a large patient pool for target diseases, increasing geriatric population and rising awareness among healthcare professionals regarding the benefits of surgical lasers.
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Carbon Dioxide (CO2) Lasers segment is expected to dominate the market during the forecast period due to high usage of the carbon dioxide laser in gynaecology, otolaryngology, neurosurgery, plastic surgery, ophthalmology,
Laparoscopic surgeries segment is expected to capture significant revenue share during the forecast period owing to increase in demand for minimally invasive surgeries and the procedural benefits of the laparoscopic procedures.
“Increasing prevalence of urological disease and high adoption of YAG Laser in Lithotripsy will increase demand for surgical laser in the ambulatory surgical centre as well as specialty clinics during the forecast period.” —-GMI Research
Based on geography, North America held the largest share in the market in 2017 due to large patient pool, high replacement rate of CO2 and Argon laser in hospital facilities and adequate reimbursement in the region are factors fuelling the demand for surgical lasers in the region. Asia-Pacific is projected to grow at a fastest CAGR% during 2018-2025 due to increasing prevalence of target diseases such as ophthalmology, cardiovascular, and urology disorders and rise in volume of minimally invasive surgical procedure. Growth in medical tourism in the developing economies is expected to drive the growth of Market.
Key takeaways/key essentials:
- The rise in the volume of minimally invasive procedures has increased demand for surgical laser device across the globe
- In 2017, the Laparoscopic surgery grows by 1.6X during forecast period.
- North America has been a leading region in the installation and high replacement of carbon dioxide and argon laser across the globe
- Continuous technological advancement in CO2 laser design and delivery will ensure that the role for this useful wavelength in surgical practice will continue to expand
Some of the key players operating in the global market for Surgical Lasers include IPG Photonics Corporation, Alma Lasers Inc., Cynosure Inc., Biolitec AG, Lumenis Inc. Abbott laboratories, Boston Scientific Corporation, Spectranetics Corporation, AMT Engineering Co. Ltd, Bison medical Ltd among others
The global Surgical Laser market has been segmented based on product, procedure, end user, and key geographies. Based on the product, global Surgical Laser market has been segmented into carbon dioxide (co2) lasers, argon lasers, yag lasers, diode lasers and other surgical lasers
Based on Procedure Type, the market has been segmented into open surgery, percutaneous surgery and laparoscopic surgery
Based on end user, the market has been segmented into hospital, ambulatory surgical centers and clinics
The research report on Surgical Laser market provides in-depth analysis of the global Surgical Laser market based on product type, end user and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for Surgical Laser market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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