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Jul-2019
Global Surgical Lasers Market Size To Grow AT 4.84% CAGR
Global Surgical Lasers Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type, Procedures, Application & Region - Industry Forecast (2021 to 2026)
Surgical Lasers Market Size (2021 to 2026):
As per our research report, the size of the global surgical lasers market was valued at 2.05 billion in 2021. It is further expected to reach USD 2.60 billion by 2026, increasing at a CAGR of 4.84% during the forecast period 2021 to 2026.
KEY DRIVING FACTORS:
The Surgical Lasers market is majorly driven by the rising prevalence of chronic diseases and the increase in the incidence and prevalence of targeted diseases. Also, the increasing awareness among the people about the availability of advanced treatments for chronic diseases and the technological advancements in surgical Lasers is expected to uplift the market growth.
On the other hand, the growing geriatric population, changing the lifestyles of the people in developing countries, are lead to various chronic disorders, which in turn increases the market growth.
Over the recent period, the preference for minimally invasive surgeries has been rapidly increased, which is expected to increase the market growth. In addition, the high prevalence of ophthalmic disorders and the adoption of minimally invasive surgeries are more likely to positively impact the market growth.
The developing countries such as China, India, and Brazil are providing lucrative growth opportunities for the market players operating in the Surgical Lasers market.
RESTRAINING FACTORS:
The surgical lasers market is projected to grow significantly during the forecast period as a result of factors such as changes in healthcare institutions, a growing medical tourism trend in developing countries, rising health awareness and demand for minimally invasive surgeries, and favorable reimbursement policies for a variety of laser procedures.
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Additionally, increasing investment and funding by the government and private organizations for the development of healthcare infrastructure is provides the way for the new market entrants.
There are a lot of limitations and challenges that might hinder market expansion. Market constraints are likely to also include factors such as the high prices of laser operations, a lack of convenient medical reimbursement policies, and strict regulations governing the approval of surgical lasers.
KEY MARKET INSIGHTS:
- Based on the product, the CO2 (carbon dioxide) lasers segment dominated the market and was likely to witness a significant share during the forecast period. The significant developments in cosmetic Lasers treatment and the availability of advanced CO2-based surgical lasers are driving the segment growth.
- The laparoscopic surgery segment held a significant share in the surgical lasers market based on the procedure type. It is most likely to showcase a commendable share during the forecast period.
- The urology segment accounts for the largest share of the global surgical lasers market based on the application. The segment growth is attributed to the technological advancements in surgical lasers, increased urological patient population, and increased demand for less invasive urological surgeries among the patients.
- Geographically, the North America dominated the Surgical lasers market and accounted significant share over the forecast period. High adoption of technologically advanced aesthetic laser devices, availability of advanced healthcare infrastructure, and favorable reimbursement policies are augmenting the market growth. The U.S. dominated the surgical lasers market and contributed a significant share to the North American regional market growth.
- Europe is anticipated to witness significant surgical lasers market share in the coming years. Increasing prevalence of targeted diseases, rising chronic diseases, and growing healthcare expenditure are majorly attributing to the market growth in the region. At the same time, the countries such as UK, Germany, France, and Spain are majorly contributing to the European regional market growth.
- Surgical lasers are projected to expand at a profitable rate in the Asia Pacific throughout the forecast period. As a result, numerous prominent companies are pursuing a variety of growth strategies in order to raise awareness of their surgical laser devices and acquire a competitive advantage. Japan accounted for the largest share of the surgical lasers market in APAC.
The report can be customized as per requirements; ask for it @ https://www.marketdataforecast.com/market-reports/surgical-lasers-market/customization
MARKET SEGMENTATION:
By Product:
- Carbon dioxide (CO2) lasers
- Nd: YAG lasers
- argon lasers
By Procedure Type:
- Laparoscopic surgery
- Open surgery
- Percutaneous surgery
By Application:
- Dentistry
- Ophthalmology
- Dermatology
- Gynecology
- Cardiology
- Oncology
- Urology
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
Key Market Leaders Profiled in the Global surgical lasers market are Abbott Laboratories, corporation (U.S.), Lumenis (Israel), Cynosure, Alma Lasers (Israel), IPG Photonics Biolitec AG (Austria), BISON MEDICAL Co., Ltd. (South Korea), Fotona d.o.o. (Slovenia), Boston Scientific Corporation (U.S.), Spectranetics Corporation (U.S.).
BROWSE REGIONAL REPORTS:
WRITTEN BY: Prachi Singh
Prachi Singh is a management student at RIIM Pune. She worked as a Research Associate (intern) in Market Data Forecast, one of the world’s leading research and consulting for various business domains, individuals and corporate clients
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