August 2021 | Report Format: Electronic (PDF)
Surgical Laser Market Growth & Trends
The global surgical laser market size is expected to reach USD 11.4 billion by 2027, expanding at a CAGR of 11.1%, according to a new report by Grand View Research, Inc. The increasing prevalence of chronic conditions such as Benign Prostatic Hyperplasia (BPH) combined with the efforts of several market players to develop laser technologies in order to improve surgical outcomes including reduced turnaround time and minimal hospital stay are the factors driving the market. According to the American Urological Association (AUA), the prevalence of BPH increases with age, with 8.0% in men aged between 31–40, to 45.0% in those aged 51 to 60 years and 80.0% in men above 80 years. Also, in August 2018, OmniGuide Holdings acquired Lisa Laser Products, a Germany-based company, which develops lasers for urological applications.
Increasing provisions to address multiple applications through product development, in the field of aesthetics as well as surgery is likely to expand the application in multiple specialties. For instance, in September 2018, Syneron Candela acquired Ellipse, a developer of laser platforms for medical and aesthetic dermatologic applications, in order to strengthen its position in the market.
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Surgical Laser Market Report
Surgical Laser Market Report Highlights
- North America accounted for the largest share in 2019 owing to increasing preference for minimally invasive surgical procedures and rising prevalence of chronic diseases in the geriatric population
- By product, gas laser systems are expected to register the highest CAGR during the forecast period
- By application, the aesthetics segment is expected to register the highest market share owing to the increasing availability of cost-effective devices and rising demand for various cosmetic procedures such as resurfacing, rejuvenation, and vascular lesions
- By end-use, the hospital segment accounted for the largest market share as these medical settings incorporate innovative systems for enhancing patient outcomes
- Market players are adopting several strategies such as strategic acquisitions to cater to the increasing patient demand and gain a significant share in the global market.
