Analysis of the Surgical Lasers Market to 2026: Global opportunity analysis and industry forecast

 

Surgical Lasers Market

Surgical Lasers replace surgical instruments such as scalpels with special light beams to perform surgical procedures. During surgery, various types of lasers are used, each with a specific function. Laser light can be delivered continuously or intermittently, and it can be used in conjunction with fibre optics to treat areas of the body that are frequently difficult to reach. Laser surgery is less invasive, reduces the risk of infection, and promotes faster healing.

To treat cancer and other illnesses, laser therapy employs high-intensity light. These can be used to shrink or destroy tumours or precancerous growths and treat superficial cancers such as basal cell skin cancer and the early stages of some cancers such as cervical, penile, vaginal, vulvar, and non-small cell lung cancer. CO2 lasers, argon lasers, and neodymium: yttrium-aluminum-garnet (Nd:YAG) lasers are the most commonly used to treat cancer.

The global Surgical Lasers Market size was valued at US$ 1.4 billion in 2017 and is expected to witness a CAGR of 5.4% over the forecast period (2018 – 2026)

Ophthalmic lasers, for example, are used to treat a wide range of eye problems. The demand for ophthalmic lasers has increased due to their high accuracy, low cost, safe procedure, and convenience. Patients prefer ophthalmic laser treatment because it is painless and available on an outpatient basis. According to the Centers for Disease Control and Prevention, approximately 20.5 million people in the United States suffered from cataract in 2015, primarily those aged 40 and older. As a result, the growing prevalence of cataracts and the benefits of laser surgery are expected to drive the surgical lasers market during the forecast period.

The growing demand for minimally invasive or noninvasive procedures, as well as patient preferences for shorter hospital stays, are driving manufacturers to create products and equipment that are technologically advanced and offer faster recovery. New product launches are escalating the competitive rivalry. Candela Corporation, for example, received FDA approval in July 2018 for its Vbeam Prima, a Pulsed Dye Laser (PDL) used for a variety of skin conditions including rosacea, acne, facial, leg, and spider veins, scars, port wine stains, warts, stretch marks, and wrinkles.

Rising disease prevalence, such as cancer, cataract, and kidney stones, technological advancements in surgical lasers, and rising demand for minimally invasive surgeries are major factors driving the surgical lasers market growth. The National Institute of Diabetes and Digestive and Kidney Diseases Health Information Center estimates that the overall prevalence of chronic kidney disease in the United States was around 14% in 2016.

Surgeons' specialised training, stringent safety precautions, and the high cost of laser therapy are expected to have a negative impact on surgical laser market growth over the forecast period. Furthermore, in some cases, such as cancer, the effects of laser therapy may not last as long, requiring doctors to repeat the treatment to achieve better results. Because surgical lasers are classified as medical devices, they must also adhere to medical device regulations.

Medical devices sold in the United States are subject to the regulatory controls outlined in the Federal Food, Drug, and Cosmetic Act (FD&C Act) and Title 21-Code of Federal Regulations (21 CFR) Parts 1-58, 800-1299.  Medical devices that emit radiation are also subject to regulations for radiation-emitting electronic products cited in 21CFR Parts 1000-1050. Manufacturers developing surgical lasers are required to fulfil these stringent norms, in order to bring their product into the market.

Key players operating in the global Surgical Lasers Market include Alma Lasers, Abbott Laboratories, Inc., Biolitec AG, BISON MEDICAL Co. Ltd., Boston Scientific Corporation, Cynosure, Inc., Fotona d.o.o., Lumenis, IPG Photonics Corporation, and Spectranetics Corporation.

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