Surgical Lasers Market by product type (Carbon Dioxide, Argon, Nd:YAG & Diode Lasers), Procedure (Open, Laparoscopic & Percutaneous), & Application (Ophthalmology, Urology, Gynaecology, Dermatology, Dental, Cardiology, & Oncology) - Global forecast to 2021
The surgical lasers market is expected to reach USD 2.37 billion by 2021; growing at a CAGR of 5.1% from 2016 to 2021.
The growth of the overall surgical lasers market is driven by factors such as increasing technological advancements in surgical lasers, prevalence of chronic diseases, increasing incidence & prevalence of targeted diseases, and high prevalence of ophthalmic disorders. In addition, growing preference for minimally invasive surgeries are further adding to the growth prospects of this market. On the other hand, the high procedural costs associated with laser surgeries and limited medical reimbursements are factors limiting the growth of this market. Furthermore, safety concerns related to medical applications of laser technology is one of the key challenges faced by companies in the market.
In this report, the surgical lasers market has been segmented on the basis of type (carbon dioxide (co2) lasers, argon lasers, Nd:YAG lasers, diode lasers, and other surgical lasers), procedure type (open surgery, laparoscopic surgery, and percutaneous surgery), application (ophthalmology, dentistry, dermatology, cardiology, gynecology, urology, oncology, and other applications) and region [North America (the U.S. and Canada), Europe (Germany, the U.K., France, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), and the Rest of the World].
Geographically, North America is expected to command the largest share of the surgical lasers market in 2016, followed by Europe. A number of factors such as the high prevalence of chronic diseases, the use of novel surgical technologies among healthcare professionals (owing to the growing number of clinical trials and significant medical reimbursement available in the U.S. for laser-assisted surgical procedures), and the large number of cosmetic laser equipment manufacturers are driving the market growth in North America.
The surgical lasers market is highly competitive; it includes large, medium-sized, and small companies. Lumenis (Israel), Cynosure, Inc. (U.S.), Alma Lasers (Israel), Abbott Laboratories, Inc., (U.S.), and Boston Scientific Corporation (U.S.) dominated the market in 2015. Product launches, product enhancements, and approvals are the major strategies adopted by most market players between 2013 and 2016 to achieve growth in the surgical lasers market.
The report defines, describes, and forecasts the global surgical lasers market on the basis of type, procedure type, application, and region. It provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). Furthermore, the study profiles the key players in the market and comprehensively analyzes their market shares and core competencies. It strategically analyzes the micromarkets with respect to individual growth trends, prospects, and contributions to the total market.
Reasons to buy the report:
From an insights perspective, this research report is focused on various levels of analysis—industry trends, market share analysis of top ten players, and company profiles, which together discuss basic views on the competitive landscape, emerging and high growth segments of the surgical lasers market, and high growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on product portfolios and services offered by the major players in the surgical lasers market. The report analyzes the market based on procedure type, type, application, and region
Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and product launches in the surgical lasers market
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various surgical laser products across geographies
Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the surgical lasers market
Competitive Assessment: In-depth assessment of market shares, strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the surgical lasers market