Global Surgical Lasers Market
Surgical lasers use special light beams to perform surgical procedures instead of surgical instruments such as scalpel. Various types of lasers are used, each with specific functions during surgery. Laser light can be delivered either continuously or intermittently and can be used with fiber optics to treat areas of the body that are often difficult to access. Laser surgery is less invasive and has the advantage of reducing risk of infection and promotes fast healing.
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Laser therapy uses high-intensity light to treat cancer and other illnesses. These can be used to shrink or destroy tumors or precancerous growths and treat superficial cancers including cancers on the surface of the body or the lining of internal organs such as basal cell skin cancer and the early stages of some cancers such as cervical, penile, vaginal, vulvar, and non-small cell lung cancer. Carbon dioxide (CO2) lasers, argon lasers, and neodymium: yttrium-aluminum-garnet (Nd:YAG) lasers are mostly used to treat cancer.
The global surgical lasers market was assessed at US$ 1.4 billion in 2017 and is expected to register a CAGR of 5.4% over the forecast period (2018-2026).
Global Surgical Lasers Market Share (%), By Application, 2017
Source: Coherent Market Insights Analysis (2019)
Increasing number of surgical procedures to drive the global surgical lasers market revenue
Rising prevalence of diseases such as cancer, cataract, kidney stones, and others, technological advancements in surgical lasers, and rising demand for minimally invasive surgeries are major factors driving the surgical lasers market growth. According to the National Institute of Diabetes and Digestive and Kidney Diseases Health Information Center, in 2016, the overall prevalence of chronic kidney disease in the U.S. was around 14%.
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Lasers such as ophthalmic lasers are used for treatment of wide range of eye problems. Significant accuracy, low-cost, safe procedure, and convenient ophthalmic tools has increased the demand for ophthalmic lasers. Patients prefer ophthalmic lasers treatment due to pain free procedures and easy availability on an outpatient basis. According to Centre for Disease Control and Prevention in 2015, approximately 20.5 million people in the U.S. suffered from cataract, mainly those aged 40 years and older. Thus, increasing prevalence of cataract and advantages of laser surgery is expected to drive the surgical lasers market during the forecast period.
Global Surgical Lasers Market – Restraints
Limitations, such as surgeons’ specialized training, strict safety precautions, and high cost of laser therapy is expected to negatively impact surgical laser market growth over the forecast period. Moreover, in some cases such as cancer, the effects of laser therapy may not last longer, so doctors might have to repeat the treatment to get better results.
As surgical lasers are categorized into various medical devices, these products must also comply with the medical device regulations. Medical devices marketed in the U.S. are subject to the regulatory controls in the Federal Food, Drug, and Cosmetic Act (FD&C Act) and the regulations in Title 21- Code of Federal Regulations (21 CFR) Parts 1-58, 800-1299. Medical devices that emit radiation are also subject to regulations for radiation-emitting electronic products cited in 21CFR Parts 1000-1050. Manufacturers developing surgical lasers are required to fulfil these stringent norms, in order to bring their product into the market.
Global Surgical Lasers Market – Regional Insights
The North America surgical lasers market is expected to generate a significant revenue share over the forecast period, owing to increasing demand for effective therapeutic treatment for disorders related to eyes. According to the American Academy of Ophthalmology 2016, in the U.S., over 34 million patients were suffering from myopia.
The Asia Pacific surgical lasers market is expected to grow at highest rate, owing to increasing diabetes prevalence, high disposable income, and improvement in healthcare infrastructure that has resulted in rising number of laser surgeries in the region. According to the American Academy of Ophthalmology, in 2016, 23% people were suffering from diabetic retinopathy in Asia.
Global Surgical Lasers Market Value (US$ Bn) & Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2019)
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Global Surgical Lasers Market – Competitive Landscape
The leading players operating in the global surgical lasers market include Alma Lasers, Abbott Laboratories, Inc., Biolitec AG, BISON MEDICAL Co. Ltd., Boston Scientific Corporation, Cynosure, Inc., Fotona d.o.o., Lumenis, IPG Photonics Corporation, and Spectranetics Corporation.
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