Global Surgical Lasers Market: Overview
Surgical laser products are used in laser surgeries to destroy or cut abnormal or diseased tissues, destroy or shrink lesions and tumors, seal lymph vessels, remove moles and tattoos, and close off blood vessels and nerve endings among various other uses. They are available in different types such as argon, diode, neodymium: yttrium-aluminum-garnet, and carbon dioxide. They are used in several procedures, including laparoscopic surgeries, percutaneous surgeries, and open surgeries and in various fields such as dermatology, urology, gynecology, cardiology, oncology, ophthalmology, and dentistry.
Global Surgical Lasers Market: Key Trends
The increasing prevalence of targeted diseases such as cancer and cardiovascular diseases and expanding base of patients suffering from ophthalmic disorder are the leading factors providing a fillip to the global surgical lasers market. The growing preference for minimally invasive surgeries is also creating an upthrust in the global demand for surgical laser products. Moreover, the rising investments in the field from both public and private sectors are augmenting the market.
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On the other hand, the stringent regulatory scenario related to the approval of surgical lasers is inhibiting the growth of the market. Furthermore, the high costs of laser surgeries coupled with the shortage of suitable medical reimbursement policies are keeping the global surgical lasers market from realizing its utmost potential.
Global Surgical Lasers Market: Market Potential
Emerging regions are expected to present immense growth opportunities. As a result of which, players in the global surgical lasers market are expected to shift their focus towards developing countries. The rising expenditure on healthcare and improving medical practices are boosting the uptake of surgical lasers in these countries. Moreover, the booming medical tourism sector in these regions attracts people from all over the world, which makes them promising markets.
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Rapid advancements in surgical lasers are opening new avenues for market players. The introduction of laser surgeries in the field of veterinary care is unfolding tremendous growth opportunities for the global surgical lasers market. Surgical lasers are now being used to address pain, injury, and chronic health conditions in companion pets.
Global Surgical Lasers Market: Geographical Segmentation
The key segments analyzed in the research report are Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America will be a prominent market throughout the forecast period, with the U.S. being at the forefront of growth. The increasing number of clinical trials and availability of favorable reimbursement policies for laser-assisted surgeries are triggering the adoption of novel technologies among healthcare professionals, which in turn is propelling the growth of the region. A large number of manufacturers headquartered in the region are also facilitating the widespread adoption of surgical laser products.
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Asia Pacific will register a healthy growth rate during the same period, owing to widening base of patient population for target diseases. The rising initiatives by governments to improve healthcare facilities are providing a significant push to the growth of the region. Moreover, the increasing awareness among healthcare professionals regarding the procedural benefits of surgical laser equipment and growing geriatric population are driving the growth of the region.
Global Surgical Lasers Market: Competitive Landscape
The majority of companies are focusing towards product launches to enhance their visibility in the high competitive arena of the global surgical lasers market. Mergers and acquisitions are also among the primary growth strategies adopted by key players to expand their product portfolio in the market. Some of the prominent companies operating in the market are Lumenis, Alma Lasers, Abbott Laboratories Inc., Spectranetics Corporation, Fotona d.o.o., Biolitec AG, Boston Scientific Corporation, and Cynosure Inc.
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