Target Audience:
# Surgical laser product manufacturing companies
# Product suppliers and distributors
# Healthcare service providers [including hospitals, specialty clinics, and ambulatory surgery centers (ASCs)]
# Research laboratories and academic institutes
# Clinical research organizations (CROs)
# Government regulatory authorities
# Independent authorities and non-government organizations
# Market research and consulting firms
# Venture capitalists
The surgical lasers market is expected to reach USD 2.37 Billion by 2021 from USD 1.85 Billion in 2016; growing at a CAGR of 5.1% during the forecast period.
Increasing prevalence of chronic diseases, technological advancements in surgical lasers, increasing incidence and prevalence of targeted diseases, and high prevalence of ophthalmic disorders are the major factors driving the growth of this market. In addition, growing preference for minimally invasive surgeries are further adding to the growth prospects of this market.
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A combination of bottom-up and top-down approaches was used to calculate the sizes and growth rates of the market and its subsegments. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. In this research study, all possible parameters that affect this market have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative & qualitative data.
Primary interviews with key opinion leaders were also used to determine the percentage shares of each product in emerging nations. The report provides qualitative insights about growth rates and market drivers for all subsegments. It maps market sizes and growth rates for each subsegment and identifies segments poised for rapid growth in each geographic region.
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 can be primarily attributed to the procedural benefits of laparoscopic procedures and growing patient awareness and market demand for less-invasive disease therapies.
On the basis of type, the surgical 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) lasers segment is growing at the highest CAGR in the market due to the widespread availability of innovative CO2-based surgical lasers and ongoing technological advancements in cosmetic laser treatment.
North America is expected to hold the largest share of the global surgical lasers market, followed by Europe in 2016. However, the Asia-Pacific market is expected to grow at the highest CAGR from 2016 to 2021. Factors driving market growth in the Asia-Pacific region include the presence of a large patient population for target diseases (coupled with rapidly growing geriatric population), rising awareness among healthcare professionals related to the procedural benefits of surgical laser products, and increasing government initiatives to reduce the burden of ophthalmic disorders.
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As of 2015, Lumenis (Israel), Cynosure, Inc. (U.S.), Alma Lasers (Israel), IPG Photonics Corporation (U.S.), Abbott Laboratories, Inc. (U.S.), Boston Scientific Corporation (U.S.), Spectranetics Corporation (U.S.), Biolitec AG (Austria), Fotona d.o.o. (Slovenia), and BISON MEDICAL Co., Ltd. (South Korea) are some of the key players operating in the surgical lasers market.
