Global Surgical Laser Market is valued at approximately USD 2.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2020-2027. A surgical laser is a type of medical device used for the treatment of bleeding blood vessels and to remove the contaminated tissues by using a light beam rather than surgical instruments, such as scalpels. A general surgeon uses a variety of laser wavelengths and laser delivery systems to eliminate, vaporize, and cut tissue. Since, there are various types of laser beams can be accessible from the market that have different color and uses neodymium, yttrium-aluminum-garnet argon, diode, and carbon dioxide. They are generally used in a range of surgical procedures, including laparoscopic surgeries, oncology, dermatology, ophthalmology, cardiology, and many more. Therefore, the rise in demand for non-invasive procedures is one of the prime factors fueling the adoption of surgical laser all over the world. Furthermore, the rise in the prevalence of cardiovascular and ophthalmic disorder, along with increased funding and public-private investment are the few factors responsible for the CAGR of the market during the forecast period. As per the American Heart Association (AHA), in 2016, the death occurred due to cardiovascular diseases (CVDs) was estimated at around 17.6 million and is projected to grow more than 23.6 million by the year 2030. This, in turn, is expected to strengthen the market growth around the world. Although, the recent outbreak of COVID-19 pandemic around the world instigating the shutdown of much of civilized life, which resulted that MedTech companies are highly insulated from economic disruptions due to which demand for medical device and surgical procedures are greatly affecting. This is due to the healthcare facilities and organization are mainly focused on treating patients with COVID-19, and thus, surgical procedures are likely to put on hold. Therefore, the demand for surgical laser is substantially declining during the crisis. However, the high costs of laser surgeries and the dearth of favorable reimbursement policies are the major factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Surgical Laser market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in the prevalence of chronic disease particularly cardiovascular and ophthalmic disorders, along with the presence of a significant number of medical device manufacturers in the region. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the presence of a huge target population with chronic diseases and improving healthcare infrastructure would create lucrative growth prospects for the Surgical Laser market across the Asia-Pacific region.
Major market player included in this report are:
Alma Lasers, Ltd.
Abbott Laboratories, Inc.
Boston Scientific Corporation
IPG Photonics Corporation
Bison Medical Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Carbon Dioxide (CO2) Lasers
ND:Yag (Neodymium-Doped Yttrium Aluminum Garnet) Lasers
By Procedure Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027
Target Audience of the Global Surgical Laser Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers