Global Surgical Laser Market to expand at 5.5% CAGR through 2027

February 18, 2021

As cited by the business intelligence report titled ‘Global Surgical Laser Market Size study, by Type (Carbon Dioxide (CO2) Lasers, Argon Lasers, ND:Yag (Neodymium-Doped Yttrium Aluminum Garnet) Lasers, Diode Lasers, Others), by Procedure Type (Open Surgery, Laparoscopic Surgery, Percutaneous Surgery), by Application (Ophthalmology, Dermatology, Dentistry, Urology, Cardiology, Others) and Regional Forecasts 2020-2027’ available with Market Study Report LLC, global surgical laser market was valued USD 2.2 billion in 2019 and is projected to register a CAGR of 5.5% during 2020-2027.

Research analysts cite that escalating demand for non-invasive surgical procedures along with growing prevalence of ophthalmic as well as cardiovascular disorders are augmenting global surgical laser market size.

For the uninitiated, surgical lasers are medical devices used for removing contaminated tissues as well as for treating bleeding blood vessels. It is typically adopted by general surgeons to vaporize, eliminate, and cut tissues. There are a variety of these devices in the marketplace, and are used for multitude of surgical procedures including cardiology, ophthalmology, dermatology, oncology, and laparoscopic surgeries. Hence, the wide application scope of these devices have significantly contributed to the overall industry remuneration.

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Furthermore, rising disposable incomes, increasing funding and public-private investments in this field, technological advancements, and strategic collaborations by industry majors are furthering accelerating global surgical laser market development.

On the contrary, high costs associated with the surgeries and lack of favorable reimbursement policies are hindering the industry expansion. Additionally, declining need for surgical procedures amid the Covid-19 pandemic as the healthcare sector is aligning its focus towards treating infected patients has negatively affected the demand for surgical laser.

Based on product landscape, global surgical laser industry is segmented into diode lasers, ND: Yag lasers, argon lasers, CO2 lasers, and others. With regards to procedure type, the market is fragmented into percutaneous surgery, laparoscopic surgery, and open surgery. Moving on, the application scope of this domain is categorized into cardiology, urology, dentistry, dermatology, and ophthalmology among others.

Regionally, North America holds a substantial portion of the global surgical laser market share, owing to high concentration of device manufacturers and growing prevalence of chronic diseases in the region.

Meanwhile, Asia-pacific market is predicted to amass significant gains and expand at a robust growth rate over 2020-2027. High concentration of the target population and flourishing healthcare infrastructure are augmenting the expansion of the regional industry.

Leading players boasting of a strong presence in the global surgical laser market are Cynosure, Inc., Alma Lasers, Ltd., Lumenis, Abbott Laboratories, Bison Medical Co., Ltd., IPG Photonics Corp., Boston Scientific Corp., Biolitec AG, Spectranetics Corp., and Fotona D.O.O.

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