The market is expected to reach $ 2.37 trillion by 2021; growing at a CAGR of 5.1% from 2016 to 2021.
Surgical Lasers Market by Product Type (Carbon Dioxide, Argon, Nd: YAG & Diode Lasers), Procedure (Open, Laparoscopic & Percutaneous), & Application (Ophthalmology, Urology, Gynecology, Dermatology, Dental, Cardiology, & Oncology) – Global forecast to 2021 “ , published by MarketsandMarkets,
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Factors driving the growth of this market include technological advances in surgical lasers, high prevalence of chronic diseases, high prevalence of ophthalmic disorders, and growing preference for minimally invasive surgeries. However, limited medical reimbursements and high procedural costs associated with laser surgeries are expected to limit the optimal growth of this market during the coming years.
Laser lasers market is categorized into five segments, namely, carbon dioxide (CO2) lasers, argon lasers, Nd: YAG lasers, diode lasers, and other surgical lasers (fiber lasers, dye lasers, Er: YAG lasers, and excimer lasers). The carbon dioxide (CO2) laser segment is growing at the highest CAGR in the market due to the widespread availability of innovative CO2-based surgical lasers and ongoing technological advances in cosmetic laser treatment.
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Based on procedure type, the market is segmented into open surgery, laparoscopic surgery, and percutaneous surgery. The laparoscopic surgery segment is expected to dominate the market. This growth is primarily attributed to the procedural benefits of laparoscopic procedures and growing patient awareness and market demand for less-invasive disease therapies.
By application, the market is segmented into ophthalmology, dentistry, dermatology, cardiology, gynecology, urology, oncology, and other applications (liposuction, ENT, and GIT). The urology segment is expected to become the fastest-growing surgical laser application segment. In this application, the prevalence of urological disorders (such as kidney stones, renal cancer, and prostate enlargement), growing patient preference for minimally invasive urological surgeries, and ongoing technological advances in surgical laser products.
North America is the largest shareholder of the global Surgical Lasers Market, followed by Europe in 2016. However, the Asia-Pacific market is expected to grow to the highest CAGR from 2016 to 2021.
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Factors driving Surgical Lasers Market growth in the Asia-Pacific region include the presence of a large patient population for targeting diseases (RGD), increasing awareness among healthcare professionals, and increasing government to reduce the burden of ophthalmic disorders.
As of 2015, Lumenis ( Israel ), Cynosure, Inc. (US), Alma Lasers ( Israel ), IPG Photonics Corporation (US), Abbott Laboratories, Inc. (US), Boston Scientific Corporation (US), Spectranetics Corporation (U.S. ), Biolitec AG ( Austria ), Fotona doo ( Slovenia ), and BISON MEDICAL CO., LTD. ( South Korea ) are some of the key players operating in the Surgical Lasers Market.