A research study titled, “Surgical Lasers Market by Product Type, Procedure, and Application – Global Industry Analysis and Forecast To 2025” published by Crystal Market Research, states that the surgical lasers market is projected to be around $3 billion by 2025.
Laser surgeries are type of surgeries that are performed by using laser beam to make bloodless cuts in tissue or to remove different types of lesions such as skin lesions (Macule and Vesicle). Laser beams are strong beam of light produced by using either solid, liquid or gas materials. The laser beam is used to treat tissues by heating the cells until they burst; thereby destroying damaged and affected cells. On the basis of application or surgery and color of the tissue, different laser beams are used namely carbon dioxide lasers, Nd: YAG laser and pulse dye laser. Lasers are used to perform number of surgical procedures including breast surgery, hernia repair and treatment of pilonidal cyst. Lasers are increasingly used in large number of complex treatments with minimal blood loss, decreased patient comfort, decreased chances of infection and reduce extent of surgery. Moreover laser beams have high ability to penetrate tissue by adjusting wavelength of light which makes them capable of use in range of medical problems.
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Lasers are either used alone or with regular surgical instruments for restoring normal functioning of tissues and cells. These lasers are increasingly used in surgical procedures with increase in demand for minimal invasive surgical procedures. Lasers are frequently used in lithotripsy, ophthalmology, and oncology, cosmetic and dermatological procedures. The unique ability of lasers to target specific cells and tissues made them a powerful tool in large number of aesthetic procedures. The specific wavelengths of laser beam induce soft tissue actions by penetrating in tissues to treat damaged skin without affecting surrounding undamaged skin. Aesthetic lasers technologies have changed the traditional methods available to dermatologist for getting rid of unwanted hairs, minimizing body scars, pores and acnes. Although lasers are single wavelength of light, they are capable of inducing strong improvements and changes in skin with relatively low time and complications.
High prevalence of chronic diseases, increasing geriatric population coupled with rise in ophthalmic disorders and rise in demand for minimal invasive surgeries is expected to propel growth of the market. According to World Health Organization in 2010, around 524 million people were aged 65 and above and this number is expected to triple and reach 1.5 billion by 2050. Between 2010 and 2050, the aging population in developing countries is expected to increase with more than 250% as compared to 71% increase in developed countries. Such high prevalence of elderly population will increase demand for surgical lasers. Furthermore, rapid technological advancements in the field of laser surgeries will fuel growth of the market in coming years. However, high cost of laser surgeries and limited reimbursement policies are expected to hamper growth of the surgical lasers market.
The CO2 laser market is expected to be the fastest-growing segment during the forecast period. This market is projected to grow at a significant CAGR from 2017 to 2025 due to the development of advanced cosmetic lasers. On the basis of procedure type, the laparoscopic surgery market accounted for the largest share of the global surgical lasers market in 2016 due to rise in demand for minimal invasive surgeries and advantages of laparoscopic procedures.
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On the basis of applications, the urology market is poised to grow at a significant CAGR during the forecast period. This high growth rate is primarily due to a number of factors such as rise in demand for minimally invasive urological procedures, growing prevalence of urological disorders (such as kidney stone and renal cancer), and technological advancements.
U.S. dominated the North American surgical lasers market in 2016 which can be attributed to the availability of large number of cosmetic laser system manufacturers, favorable reimbursement policies for laser assisted surgeries, and high adoption of technologically advanced products. Moreover, the ongoing clinical trials for the development of innovative surgical technologies will further contribute to the market growth.
Some of the key players in this market are Lumenis, Spectranetics Corporation, Inc., Alma Lasers, Cynosure Inc., IPG Photonics Corporation, Biolitec AG, Fotonad.o.o., BISON MEDICAL, Abbott Laboratories Inc., Boston Scientific Corporation, Gebrüder Martin GmbH & Co. KG, LightScalpel, LLC, JenaSurgical GmbH, Surgical Lasers Inc., and IRIDEX Corporation.
Key Findings of the Research Study:
- CO2 laser segment is projected to be the fastest-growing segment during the forecast period as these are easily available in the market.
- Urology segment will bring in new growth opportunities in the market due to rising number of urological disorders and growing demand for non-invasive procedures for the treatment of these conditions.
- North America dominated the global surgical lasers market in 2016 primarily due to availability of reimbursement for laser assisted surgeries.
- Asia-Pacific surgical lasers market is expected to exhibit lucrative growth during the forecast period owing to increasing demand for advanced healthcare services with rising disposable income of the people.
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