Increasing Prevalence of Ophthalmic Disorders, with Increasing Number of Cosmetic Surgeries, is Driving the Surgical Laser Market

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OVERVIEW

Surgical Laser Market was valued at $191 billion in 2019 with a CAGR of 5.14% from 2020 to 2026.

Surgical lasers are used for laser surgery to cut tissue. Laser surgery is used for soft-tissue laser surgery, dermatology and plastic surgery, eye surgery, endovascular surgery, foot and ankle surgery, oral and dental surgery, spine surgery, and other surgery. The types of surgical lasers include carbon dioxide (CO2) lasers, neodymium:yttrium-aluminum-garnet (Nd:YAG) laser, argon lasers, and others.

Rising prevalence of ophthalmic disorders has driven the demand for surgical laser. Surgical Lasers are used for a variety of ophthalmic diseases such as glaucoma, macular degeneration, and diabetic retinopathy. According to the World Health Organization (WHO), globally, around 2.2 billion people have vision impairment and blindness, of which at least 1 billion have vision impairment in 2018.

According to the Centers for Disease Control and Prevention (CDC), globally, 123.7 million people suffer from unaddressed refractive error, 65.2 million people suffer from cataract, 6.9 million people suffer from glaucoma, 4.2 million people suffer from corneal opacities, 3 million people suffer from diabetic retinopathy, and 2 million people suffer from trachoma. An estimate of 3 million Americans will be affected by age-related macular degeneration (AMD) by 2020. By 2028, an estimated of 30 million Americans will have cataracts. Further, the increasing number of surgical procedures is a key driving factor of the market. In 2018, more than 800,000 LASIK (laser-assisted in situ keratomileusis) surgeries are performed in the United States. In Europe, the number of laser eye correction surgeries is expected to be around 757 thousand by 2020.

Carbon Dioxide (CO2) Lasers, Neodymium:Yttrium-Aluminum-Garnet (Nd:YAG) Laser, Argon Lasers, and Others is the type segment of the market scope. By procedure, the market is divided into Laparoscopic Surgery, Open Surgery, Percutaneous Surgery, and Others. By application, the market is further divided into Dermatology, Ophthalmology, Dentistry, Urology, and Others. The report covers value of the global market by type, procedure, and application.

Carbon Dioxide (CO2) Lasers was dominating the surgical laser market in 2019, owing to the increasing adoption of carbon dioxide (CO2) lasers for cosmetic laser treatment, development of innovative carbon dioxide (CO2) lasers, and commercialization of technologically advanced carbon dioxide (CO2) lasers.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global surgical laser value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the surgical laser market in 2019. North America is the highest revenue contributor for the surgical laser market and is anticipated to grow during the forecast period. The increasing number of cosmetic surgeries, rising prevalence of ophthalmic disorders that lead to an increase in demand for medical laser in North America, commercialization of surgical lasers in the North American market, and strategic agreement between companies to supply surgical laser in the Canadian market are some of the strategies boosting the North America surgical laser market.

Major players operating in the surgical laser industry include Boston Scientific Corporation, Abbott Laboratories, Inc., Lumenis Ltd, Cynosure, Inc., Biolitec AG, IPG Photonics Corporation, BISON MEDICAL Co., Ltd., Spectranetics Corporation, Alma Lasers, and Fotona d.o.o.

Increasing research and development activities on surgical laser, technological advancement, the strategic agreement between companies for development and distribution of surgical laser, and commercialization of innovative surgical laser are some of the strategies adopted by the major companies.