Surgical Medical Laser Systems Market Analyzing Market Trends Post-Covid-19 Impact: Top Companies, Trends, Future Opportunity Outlook by Fact MR
The global surgical medical laser systems market has experienced significant growth in recent years, driven by technological advancements and an increasing preference for minimally invasive procedures. The global surgical medical laser systems market is set to record a market value of US$ 3.18 Bn in 2022, with an indication of positive and rapid market growth rate at a CAGR of 9.2% over the forecast period (2022 to 2032). As such, worldwide sales of surgical medical laser systems are predicted to reach US$ 7.68 Bn by the end of 2032.
This upward trajectory is attributed to several factors, including heightened awareness among healthcare professionals and patients about the benefits of laser-based surgical interventions. A significant contributor to this growth is the rising demand for minimally invasive surgical procedures. Patients and healthcare providers are increasingly favoring these techniques due to reduced recovery times, minimized scarring, and lower risks of complications. The proliferation of ambulatory surgical centers has further facilitated access to such procedures, thereby bolstering the market for surgical medical laser systems.
In terms of product segmentation, solid-state laser systems are anticipated to account for more than 35% of total sales in 2022. These systems are renowned for their precision and efficacy across various surgical applications. Additionally, CO₂ lasers have gained prominence in procedures like Trans-myocardial Laser Revascularization (TMR), a minimally invasive surgery employed in managing angina pectoris. The prevalence of angina, affecting over 9.5 million Americans annually with 500,000 new cases each year, underscores the growing demand for CO₂ surgical lasers.
The ophthalmology sector has also witnessed a surge in laser adoption, particularly in LASIK surgeries. Lifestyle changes and increased screen time have led to a higher incidence of ophthalmic disorders, prompting many patients to opt for laser-assisted corrective procedures. Consequently, the use of surgical lasers in ophthalmology is projected to grow at a CAGR of 9.8% over the next decade.
Furthermore, argon lasers have become integral in treating diabetic retinopathy, a complication arising from diabetes mellitus. In 2020, the global prevalence of diabetic retinopathy was estimated at approximately 103.12 million cases. As healthcare facilities advance and the incidence of diabetes continues to rise, the demand for argon surgical lasers is expected to increase correspondingly.
The competitive landscape of the surgical medical laser systems market is characterized by the presence of key players such as Lumenis, Alcon, Bausch & Lomb, IRIDEX Corp., Photomedex, Philips (Spectranetics Corporation), Fotona, Elforlight Ltd., Alma Lasers, Accu-Tech Co., Ltd., BISON MEDICAL Co., Ltd., ASUKA MEDICAL Inc., Quantel Laser (Lumibird Medical), Nidek Co. Ltd., and Carl Zeiss Meditec AG. These companies are at the forefront of innovation, continually enhancing their product offerings to meet the evolving needs of the medical community.
In summary, the surgical medical laser systems market is poised for substantial growth, driven by technological advancements, a shift towards minimally invasive procedures, and the increasing prevalence of conditions treatable by laser interventions. As healthcare infrastructure continues to evolve and patient awareness rises, the adoption of surgical medical laser systems is expected to expand, offering improved outcomes across various medical disciplines.
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