Surgical Lasers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The surgical lasers market is expected to register a CAGR of 4.5% during the forecast period. This is attributing to technological advancements, growing preference for minimally invasive surgeries, and increasing incidence and prevalence of targeted diseases, such as chronic disease, particularly in ophthalmic disorders, among others.

With increasing advancements in applications, like dermatology and dentistry, ophthalmology has aided the demand for surgical lasers in the medical industry, thereby, driving the market studied.

Moreover, as per the National Institute of Health (NIH), laser lithotripsy is a widely accepted technique for urinary-related disorders, such as biliary stones. Thus, the rising burden of urology disorders may propel the demand for surgical lasers.

Furthermore, lasers' unique ability to target specific structures and layers of tissues makes surgical lasers a powerful tool in aesthetic and reconstructive surgeries. For instance, as per the American Society of Plastic Surgeons, in 2018, around 15 million cosmetic minimally-invasive procedures were performed, which further boosts the growth of the surgical lasers market. However, the high procedural costs associated with laser surgery may hamper market growth.

Key Market Trends

Surgical Lasers in Urology segment is Estimated to Witness a Healthy Growth in the Future

• In urology, surgical lasers are estimated to witness healthy growth in the future, attributed to the increasing prevalence of urology disorders, such as kidney stones, renal cancer, prostate enlargement, and growing patient awareness and preference for minimally invasive urological surgeries.
• As per the Global Health Data Exchange, in 2017, around two billion cases of urinary tract infection were reported, hence, promoting the surgical laser for diagnosing purpose and further driving the segment growth.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

• North America is expected to hold a significant market share in the surgical lasers market, due to the increasing aging population, rising burden of chronic diseases, growing awareness among the population, and several cosmetic laser manufacturers.
• Moreover, the growing demand for cosmetic surgeries in the United States, to improve the appearance by reshaping and enhancing body structure, is likely to promote the growth of the market studied.
• For instance, as per the American Society of Plastic Surgeons, around 1.8 million cosmetic surgical procedures were performed, in 2018. Furthermore, the high adoption rate of novel technologies, increasing healthcare expenditure, and the presence of well-established healthcare infrastructure are fueling the overall regional market's growth.

Competitive Landscape

The surgical lasers market is fragmented and consists of several major players. In terms of market share, few of the major players are currently dominating the market studied. Some of the companies dominating the market are Cynosure, Lumenis, IPG Photonics Corporation, biolitec AG, Alma Lasers Ltd, Boston Scientific Corporation, BISON Medical, and Fotona.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support