The latest market report published by Credence Research, Inc. “Surgical Lasers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global surgical lasers market was valued at US$ 1,625.8 Mn in 2017 and expected to reach US$ 3,157.6 Mn by 2026, expanding at a CAGR of 7.6% from 2018 to 2026.
Browse the full report Surgical Lasers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://www.credenceresearch.com/report/surgical-lasers-market
The global surgical lasers is expected to progress due to technical advancements in the field of medical lasers, growing prevalence of chronic diseases, increasing demand and modalities for minimally invasive surgeries and developing awareness. Emerging economies of Asia Pacific and Latin America will witness the fastest growth and will have prominent penetration prospects for the manufacturers. Growing target population suffering with chronic diseases, increasing demand for asthetic interventions and increasing healthcare expenditures are some of the common growth drivers of these regions.
Ophthalmology is one of the prominent areas where surgical laser is commonly used. Laser surgery has become the gold standard for the treatment of conditions such as cataract, glaucoma, and myopia. However, the penetration of ophthalmic lasers is still restricted in some zones in Asia Pacific and Middle East & Africa as cataract removal interventions with laser becomes cost intensive and there is lack of reimbursement in such areas.
The overall surgical lasers market is segmented in terms of laser types such as carbon dioxide lasers, argon lasers, diode lasers, ND:Yag (neodymium:yttrium-aluminum-garnet) lasers and others; of which, gas lasers such as CO2 register prominent growth due to their wide application in minimally invasive and cosmetic interventions. Among the various procedures with surgical lasers, laparoscopic surgeries are anticipated to register the highest growth rate during the forecast period. The growth of this segment is attributed to increasing preference for minimally invasive surgeries for treatment of geriatrics and cancer. Ophthalmology is the largest application segment for surgical lasers in 2017 and is anticipated to remain the dominant area through the forecast period. Asia Pacific is projected to witness the fastest progress in the market for surgical lasers. Growing awareness and significantly large potential patient pool corresponding to the large population group are the key drivers of Asia Pacific market. Additional factors attributed to the growth of Asia Pacific market are growing disease prevalence and significant escalation in demand for laser based cosmetic procedures in countries such as China, South Korea, India and Japan.
Key Market Movements:
- Increasing technologies to ensure safety of laser procedures
- Availability of prominent evidence suggesting benefits of laser surgeries in reducing tumor size and cancer treatment
- Growing asthetics and cosmetic surgery markets leading to high demand for lasers in topical treatments such as wrinkle reduction, implantation, etc.
- Increasing prevalence of urological and ophthalmic conditions demanding minimally invasive and safe surgical modalities