United States, Rockville, MD, March 28, 2022 (GLOBE NEWSWIRE) — High adoption of surgical laser systems in cosmetic surgeries, refractive eye surgeries, dental procedures, and general surgeries such as tumour removal, cataract removal, plastic surgery, and many others has led this market to record sales worth US$ 2.94 Bn in the year 2021. Market growth is further projected to expand at a CAGR of 9.2% over the forecast period (2022-2032).
According to the Food and Drug Administration, “medical lasers are medical devices that use precisely focused light sources to treat or remove tissues”. Since lasers are extremely accurate, they are used in place of scalpel in surgical procedures. Rising burden of age-related ophthalmic disorders such as cataract, glaucoma, and diabetic retinopathy and increasing incidence of targeted diseases such as benign prostate hyperplasia, trigeminal neuralgia, and angina pectoris are key factors driving global demand for surgical medical laser systems.
North America market is one of the leading markets for minimally-invasive surgeries because of rising prevalence of chronic diseases, increasing geriatric population, enhanced healthcare, and increasing number of surgical procedures, all of which require laser surgeries for treatment.
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According to the American Society of Plastic Surgeons, 13,281,235 cosmetic minimally-invasive surgical procedures were performed in year 2020 alone. Increasing preference for minimally-invasive procedures will boost demand for the surgical medical laser systems over the coming years.
|Data Points||Market Insights|
|Surgical Medical Laser Systems Market Size (2021)||US$ 2.94 Bn|
|Estimated Market Value (2022)||US$ 3.18 Bn|
|Projected Market Value (2032)||US$ 7.68 Bn|
|Global Market Growth Rate (2022-2032)||9.2% CAGR|
|Market Share of Top 5 Countries||71.6||%|
|Key Market Players||
Key players in this industry are actively collaborating to develop new product lines for strengthening their foothold in the global market for surgical medical laser systems.
- For instance, in August 2021, Bausch & Lomb and Lochan entered into an agreement to develop the next-generation of eyetelligence™, a clinical decision support software.
Since the surgical medical laser systems market is highly fragmented, it presents numerous lucrative opportunities for new entrants as well as key players to create a foothold in the industry. Increased product adoption rate can also prove a beneficial factor for manufacturers to expand in regional as well as emerging markets.
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Key Takeaways from Market Study
- Solid state laser systems show promising growth for the near future owing to their benefits such as cost-efficiency and no-wastage; the segment is estimated to grow 2.4X over the decade.
- Dermatology has seen the largest usage of surgical laser systems due to rising preference for cosmetic surgeries across the globe as compared to other applications; this segment enjoyed a market share of nearly 27% in terms of revenue in the global market in 2021.
- By end user, hospitals hold nearly 2/3 of the global market share, being the most preferred place for undergoing laser-based surgical procedures.
- North America leads the global market with almost 48% market.
“Rising burden of targeted disorders, higher preference toward minimally-invasive procedures, and major technological advancements in the field of laser physics are likely to fuel growth of the surgical medical laser systems market, globally,” says an analyst of Fact.MR.
Key manufacturers of surgical medical laser systems are integrating robotics and laser surgical procedures for advancement in patient care, innovating newer laser systems, and forming strategic partnerships for lucrative opportunities.
Along with the aforementioned strategies, market players are also acquiring other companies and stakes in various smaller players to improve their market presence.
- For instance, in July 2021, Lumibird entered into an agreement with AREVA to acquire 37% stake in CILAS.
- In January 2021, Fotona launched TimeWalker® IntimaLaser™, the latest device for performing non-invasive gynaecological procedures.
- In April 2021, Alma Lasers launched Alma PrimeXTM, a non-invasive platform for body contouring and skin tightening procedures.
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What Does the Report Cover?
Fact.MR, in its new offering, presents an unbiased analysis of the surgical medical laser systems market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of the product (solid-state laser systems, gas laser systems, dye laser systems, and diode laser systems), application (ophthalmology, dermatology, gynaecology, dentistry, urology, cardiovascular, and others), and end user (hospitals, specialty clinics, and ambulatory surgical centres) across seven key regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
Key Segments Covered in Surgical Medical Laser Systems Industry Research
- Surgical Medical Laser Systems Market by Product:
- Solid-state Laser Systems
- Holmium Yttrium Aluminium Garnet Laser (Ho:Yag) Systems
- Erbium Yttrium Aluminium Garnet Laser (Er:Yag) Systems
- Neodymium Yttrium Aluminium Garnet Laser (Nd:Yag) Systems
- Potassium Titanyl Phosphate Laser Systems
- Alexandrite Laser Systems
- Ruby Laser Systems
- Gas Laser Systems
- Co2 Laser Systems
- Argon Laser Systems
- Krypton Laser Systems
- Metal Vapor (Copper And Gold) Laser Systems
- Helium – Neon (He-Ne) Laser Systems
- Excimer Laser Systems
- Dye Laser Systems
- Diode Laser Systems
- Solid-state Laser Systems
- Surgical Medical Laser Systems Market by Application:
- Surgical Medical Laser Systems Market by End User:
- Specialty Clinics
- Ambulatory Surgical Centres
- Surgical Medical Laser Systems Market by Region:
- North America Surgical Medical Laser Systems Market
- Latin America Surgical Medical Laser Systems Market
- Europe Surgical Medical Laser Systems Market
- East Asia Surgical Medical Laser Systems Market
- South Asia Surgical Medical Laser Systems Market
- Oceania Surgical Medical Laser Systems Market
- Middle East & Africa Surgical Medical Laser Systems Market
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