Market Size of Global Surgical Lasers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Surgical Lasers Market Analysis
The surgical lasers market is projected to register a CAGR of 5% during the forecast period.
The COVID-19 outbreak significantly impacted the surgical lasers market as hospital and healthcare services were reduced due to social distancing measures taken by governments across the world. For instance, The article titled "Clinical and surgical consequences of the COVID-19 pandemic for patients with pediatric urological problems" published in Elsevier Public Health Emergency Collection in June 2020 stated that the Paediatric-Urology-Guidelines-panel of the European Association of Urology proposed recommendations on prioritization of care. The guidelines suggested a reduced surgical procedures during various stages of the severity of the COVID-19 pandemic and instructed to perform surgery for urgent cases in which delay caused irreversible progression of disease or organ damage. The study indicated that surgical procedures were restricted during the pandemic. Therefore, COVID-19 had an adverse impact on the studied market.
With increasing product launches and awareness about the usage of surgical lasers in different medical conditions, COVID-19 has created a significant opportunity for surgical lasers in the coming years
In addition, technological advancements, growing preference for minimally invasive surgeries, and increasing incidence and prevalence of targeted diseases are actively affecting the growth of the studied market.
Furthermore, lasers' unique ability to target specific structures and layers of tissues makes surgical lasers a powerful tool in aesthetic and reconstructive surgeries. For instance, as per the American Society of Plastic Surgeons, in 2020, around 13.3 million cosmetic minimally-invasive procedures were performed, which further boosts the growth of the surgical lasers market.
Additionally, the advancements in technology and increasing product approvals, along with partnerships and collaborations by key players are helping in the market growth. For instance, in June 2022, LENSAR, Inc., a medical technology company focused on advanced femtosecond laser surgical solutions for the treatment of cataracts, received United States Food and Drug Administration 510(k) approval for its next-generation ALLY Adaptive Cataract Treatment System. The Eye Institute of West Florida performed the first commercial cases with the ALLY Adaptive Cataract Treatment System in August 2022. Such developments are projected to boost the growth of the market.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. however, high procedural costs associated with laser surgeries are likely to impede market growth.
