Surgical Laser Market
Number of pages: 100 | Report Format: PDF | Published date: June 12, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 2.41 billion |
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Revenue Forecast in 2031 |
US$ 3.68 billion |
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CAGR |
4.80% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Type, Procedure, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global surgical laser market was valued at US$ 2.41 billion in 2022 and is expected to register a revenue CAGR of 4.80% to reach US$ 3.68 billion by 2031.
Surgical Laser Market Fundamentals
A surgical laser is a part of medical equipment that carries numerous surgical operations by using a concentrated beam of light. A laser beam is useful in several medical disciplines because it can precisely cut, evaporate, or coagulate tissues. Laser technology is crucial in many different types of eye surgery. A surgical laser is used to reshape the cornea during treatments like LASIK (Laser-Assisted in Situ Keratomileusis) to treat refractive problems, including nearsightedness, farsightedness, and astigmatism. Treatments for diseases including glaucoma and diabetic retinopathy also use laser technology. Additionally, surgical lasers are frequently utilized in operations for dermatology and plastic surgery. They can be used for aesthetic procedures like laser skin resurfacing, which helps smooth the skin's texture and lessens the visibility of scars and wrinkles. Additionally, lasers are employed to remove hair, tattoos, vascular lesions (such as birthmarks and spider veins), and skin cancers or growths.
Surgical lasers are also used in gynecological procedures. Lasers can be utilized in operations like laparoscopy or hysteroscopy to perform sterilizing treatments, remove abnormal tissues, cure endometriosis, remove polyps, and remove fibroids. Additionally, genital wart removal and vaginal rejuvenation involve laser technology. On the contrary, lasers are utilized in urological operations to address diseases, including kidney stones. In laser lithotripsy, kidney stones are broken down into smaller pieces to make them simpler to transit through the body or remove. Additionally, benign prostatic hyperplasia (BPH) and bladder cancers can be treated using lasers.
Surgical Laser Market Dynamics
The market has been transformed by high growth potential in developing nations and growing interest in less invasive procedures. The market for surgical lasers is being driven by the expansion of the medical tourism sector as a result of the globalization of the healthcare system. People have been steadily increasing in number in recent years who travel overseas for medical care. Several nations have positioned themselves as having top-notch healthcare facilities and cutting-edge technology to draw patient attention. The developing world is now taking advantage of the increased demand for medical care by meeting it with better facilities and at lower costs due to the high cost of surgeries and treatments in the industrialized world.
The development of the market is also being actively impacted by technical breakthroughs, a growing desire for less invasive operations, and the rising incidence and prevalence of targeted disorders. Surgical lasers are an effective tool in cosmetic and reconstructive procedures due to lasers' exceptional capacity to target certain tissue layers and structural elements. According to the American Society of Plastic Surgeons, 13.3 million cosmetic minimally invasive treatments were carried out in 2020, which helped the market for surgical lasers develop even further.
Technology developments, rising product approval rates, partnerships and collaborations between important players, and other factors all contribute to the market's expansion. For instance, the next-generation ALLY Adaptive Cataract Treatment System from LENSAR, Inc., a medical technology firm specializing in advanced femtosecond laser surgical solutions for the treatment of cataracts, was given US Food and Drug Administration 510(k) approval in June 2022. In August 2022, the Eye Institute of West Florida used the ALLY Adaptive Cataract Treatment System for the first time in commercial situations. Such changes are anticipated to accelerate market expansion.
Lack of understanding of specialist training over the forecast period, issues such as surgeons' specialized training, strict safety requirements, and the high cost of laser therapy are expected to negatively influence the growth of the surgical laser market. In some disorders, such as cancer, laser therapy's benefits cannot last as long, necessitating repeated treatment sessions to get better results. Additionally, it is projected that other market barriers would include the high cost of laser treatments, the lack of useful medical reimbursement methods, and strict regulations governing the approval of surgical lasers.
Surgical Laser Market Ecosystem
The global surgical laser market is analyzed from the following perspectives: type, procedure, application, and region.
Surgical Laser Market by Type
Based on the types, the global surgical laser market is segmented into carbon dioxide (CO2) lasers, ND: Yag (Neodymium: Yttrium-Aluminum-Garnet) lasers, argon lasers, and others.
Due to their affordability and procedure precision, carbon dioxide surgical lasers account for a sizeable portion of gas-laser systems. Due to the numerous benefits that CO2 lasers provide, market participants are concentrating on their introduction. OmniGuide Holdings, Inc., for instance, unveiled the C-LAS Line of Sight CO2 laser system in March 2018. The laser system allows for minimally invasive surgical techniques, giving patients more treatment options while utilizing the accuracy of CO2 laser light.
Surgical Laser Market by Procedure
Based on the procedure, the global surgical laser market is segmented into open surgery, laparoscopic surgery, and percutaneous surgery.
The open surgery segment is likely to grow at a significant rate during the forecast period. The rise in cardiac, urologic, and gynecologic problems and product developments and approvals are credited with the surgical segment's expansion. The SuperPulsed Laser System, created by Soltive Laser System, was introduced in the United States in July 2020 to help urologists improve the results of soft tissue and stone lithotripsy procedures. Candela Corporation gained authorization from Health Canada in June 2020 to use the CO2RE laser to treat women with Genitourinary Syndrome of Menopause (GSM) and Stress Urinary Incontinence (SUI). The National Center for Biotechnology Information reported in April 2019 that urinary incontinence (UI), which mostly affects women, affects 20–30% of young women, 30–40% of middle-aged women, and more than 50% of elderly women.
Surgical Laser Market by Application
Based on the application, the global surgical laser market is segmented into dermatology, ophthalmology, urology, dentistry, and other applications.
The dermatology segment is likely to dominate the market during the forecast period. Lasers have been used successfully to treat a variety of vascular abnormalities, including face telangiectasias, haemangiomas, pyogenic granulomas, Kaposi sarcoma, and poikiloderma of Civatte. Developments in laser technology over the past 20 years have transformed how it is used to treat various skin conditions and congenital abnormalities, including vascular and pigmented lesions, as well as to get rid of wrinkles, scars, and tattoos. Various laser and light technologies are available to resurface and rejuvenate skin. For instance, according to the International Society of Aesthetic Plastic Surgery (ISAPS), 240,213 micro-ablative resurfacing operations and 1,837,052 laser hair removal procedures were carried out globally in 2020. It has been noted that, in contrast to 2019, the number of these non-surgical laser-based cosmetic operations climbed significantly, despite the COVID-19 epidemic. For instance, around 1,042,951 hair removal treatments were performed in 2019. Laser hair removal techniques are more popular, which eventually promotes sector expansion.
Surgical Laser Market by Region
Based on the region, the global surgical laser market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Due to the region's growing desire for cosmetic surgery, the aging population, the burden of chronic diseases, increased awareness among the populace, and several cosmetic laser producers, North America is anticipated to account for a sizeable portion of the surgical laser market with a revenue share of 43.2%. More than 55 million Americans over the age of 65 were living in the United States as of December 2021, according to the Population Reference Bureau's report on Aging in the United States. Over the course of the projection period, it is anticipated that the aging population in the United States will increase market growth.
According to the American Society of Plastic Surgeons' 2020 Plastic Surgery Statistics Report, 6.8 million reconstructive treatments, and 15.6 million cosmetic procedures were carried out in the country in 2020. According to the survey, around USD 16.7 billion was spent on cosmetic operations in the US. Lasers are used extensively during cosmetic and reconstructive treatment. The expansion of the regional market is also being fueled by the rapid uptake of innovative technologies, the rise in healthcare spending, and the presence of established healthcare infrastructure. Likely, Abbott received enhanced indication approval from the US Food and Drug Administration (FDA) in February 2022 for the CardioMEMS HF System to assist in the care of more individuals with heart failure. A catheter is used to implant the paperclip-sized CardioMEMS HF System into a patient's pulmonary artery.
Throughout the forecast period, the surgical lasers market in Asia Pacific is anticipated to expand at a good pace with a revenue CAGR of 5.4%. In order to increase the visibility of their surgical laser devices and to obtain a competitive edge, a number of significant firms are implementing a variety of growth methods. In the Asia Pacific surgical laser market, Japan is expected to have the highest revenue share. For instance, around 1,320,533 aesthetic/cosmetic treatments were carried out in Japan in 2018, according to data from the International Society of Aesthetic Plastic Surgery (ISAPS). According to the same authority, 401,713 hair removal treatments were carried out nationwide in 2018.
Surgical Laser Market Competitive Landscape
Some of the prominent market players in the global surgical laser market include,
Surgical Laser Market Strategic Development
A surgical laser is a medical equipment that carries out numerous surgical operations by using a concentrated beam of light.
The estimated market size of the surgical laser market in 2031 will be US$ 3.68 billion.
The revenue CAGR of the surgical laser market during the forecast period is 4.8%.
Some of the prominent market players in the global surgical laser market include IPG Photonics Corporation, Boston Scientific Corporation, and Cynosure.
The open surgery segment led the global surgical laser market in 2022.
*Insights on financial performance are subject to the availability of information in the public domain