Surgical Laser Market Size Worth $11.4 Billion By 2027 | CAG
SAN FRANCISCO, Sept. 9, 2020 /PRNewswire/ -- The global surgical laser market size is expected to reach USD 11.4 billion by 2027, expanding at a CAGR of 11.1%, according to a new report by Grand View Research, Inc. The increasing prevalence of chronic conditions such as Benign Prostatic Hyperplasia (BPH) combined with the efforts of several market players to develop laser technologies in order to improve surgical outcomes including reduced turnaround time and minimal hospital stay are the factors driving the market. According to the American Urological Association (AUA), the prevalence of BPH increases with age, with 8.0% in men aged between 31 - 40, to 45.0% in those aged 51 to 60 years and 80.0% in men above 80 years. Also, in August 2018, OmniGuide Holdings acquired Lisa Laser Products, a Germany-based company, which develops lasers for urological applications.
Key suggestions from the report:
- North America accounted for the largest share in 2019 owing to increasing preference for minimally invasive surgical procedures and rising prevalence of chronic diseases in the geriatric population
- By product, gas laser systems are expected to register the highest CAGR during the forecast period
- By application, the aesthetics segment is expected to register the highest market share owing to the increasing availability of cost-effective devices and rising demand for various cosmetic procedures such as resurfacing, rejuvenation, and vascular lesions
- By end-use, the hospital segment accounted for the largest market share as these medical settings incorporate innovative systems for enhancing patient outcomes
- Market players are adopting several strategies such as strategic acquisitions to cater to the increasing patient demand and gain a significant share in the global market.
Read 126 page research report with ToC on "Surgical Laser Market Size, Share & Trends Analysis Report By Product (Solid-state, Gas, Diode), By Application (Aesthetic, Dentistry), By End-use (Hospitals, Specialty Clinics), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/surgical-lasers-market
Increasing provisions to address multiple applications through product development, in the field of aesthetics as well as surgery is likely to expand the application in multiple specialties. For instance, in September 2018, Syneron Candela acquired Ellipse, a developer of laser platforms for medical and aesthetic dermatologic applications, in order to strengthen its position in the market.
Grand View Research has segmented the global surgical laser market based on product, application, end-use, and region:
- Surgical Lasers Product Outlook (Revenue, USD Million, 2016 - 2027)
- Solid-state Laser Systems
- Erbium Yttrium Aluminum Garnet (Er: YAG)
- Neodymium Yttrium Aluminum Garnet (Nd: YAG)
- Holmium Yttrium Aluminum Garnet (Ho: YAG)
- Ruby Laser Systems
- Gas Laser Systems
- Helium Neon
- Diode Laser Systems
- Surgical Lasers Application Outlook (Revenue, USD Million, 2016 - 2027)
- Surgical Lasers End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Specialty Clinics
- Ambulatory Surgical Centers
- Surgical Lasers Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- The U.K
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Surgical Laser Market
- Cynosure, Inc.
- Lumenis Ltd.
- Candela Corporation
- Cutera, Inc.
- Lutronic Corporation
- El.En Group
- Asclepion Laser Technologies GmbH.
Find more research reports on Medical Devices Industry, by Grand View Research:
- Dental Lasers Market – The global dental lasers market size was valued at USD 931.8 million in 2018 and is expected to expand at a CAGR of 6.5% by 2026.
- Ophthalmic Lasers Market – The global ophthalmic lasers market size was valued at over USD 1.0 billion in 2016. Rising prevalence of different types of chronic ophthalmic disorders is driving the growth of the market..
- Medical Laser Systems Market – Global medical laser systems market size was valued at USD 4.9 billion in 2014, growing awareness about the safety of noninvasive cosmetic surgeries procedures, and technological advancements in the process are expected to drive growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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