Surgical Lasers Market

Market Overview

The global surgical lasers market size was valued at USD 6,678.13 billion in 2022. It is estimated to reach USD 16,536.79 billion by 2031, growing at a CAGR of 10.6% during the forecast period (2023–2031). The increasing prevalence of chronic disease and the rising product approvals and innovations are expected to stimulate market growth.

Surgical laser products are used in laser procedures for many things, such as removing moles and tattoos, cutting or destroying abnormal or diseased tissues, destroying or decreasing lesions and tumors, sealing lymph arteries, and blocking blood vessels and nerve endings. They are utilized in several procedures, including laparoscopic surgeries, percutaneous surgeries, and open operations in dermatology, urology, gynecology, cardiology, oncology, ophthalmology, and dentistry. Surgical lasers have the power to cure soft tissue by heating it and can help patients recover more quickly. Due to their capacity to focus on certain tissue layers, they are employed in reconstructive surgery and the treatment of diseases like cancer.

Market Dynamics

 Global Surgical Lasers Market Drivers

Increasing Prevalence of Chronic Disease

The market is anticipated to expand as surgical lasers are increasingly used to control chronic conditions, including diabetes, cardiovascular disease, multiple sclerosis, and asthma, and drastically cut the cost of healthcare. The International Diabetes Federation (IDF) estimates that 463 million persons between the ages of 20 and 79 have diabetes in 2019, which is predicted to rise to 700 million by 2045. According to the IDF, an additional 374 million individuals are thought to be at a high risk of getting type 2 diabetes. According to IDF, China and India account for half of all diabetes patients who reside in Asia. The Western Pacific area, which includes China, Japan, Malaysia, Australia, and Indonesia, is among the most populated in the world, according to the IDF, and it currently has 138.2 million diabetics. By 2035, that figure is expected to rise to 201.8 million.

According to the WHO Fact Sheet from 2017, CVDs are the number one killer worldwide, with 17.9 million deaths attributed to the condition in 2016. Additionally, research by the National Multiple Sclerosis Society estimates that 913,925 Americans—more than double the number from a prior study—live with multiple sclerosis. According to the Multiple Sclerosis Discovery Forum, about 200 new cases are identified in the United States each week. According to the CDC, over 25 million Americans live with asthma, which estimates that one in 13 individuals has the condition. The CDC also reported that each year, asthma results in 188,968 discharges from hospital inpatient treatment, 1.8 million trips to the emergency room, and 9.8 million doctor's office visits. These elements drive the surgical laser market. 

Rising Product Approvals and Innovations

Leading and up-and-coming market participants for surgical lasers are actively engaged in R&D. The major goal of the operations is to create cutting-edge equipment that will meet the rising demand and improve their market share. Manufacturers have been prompted to create products and equipment that are technologically advanced and aid in faster recovery to gain a competitive edge in the market by the growing demand for minimally invasive or noninvasive procedures and procedures with less pain and patient preference for a reduced hospital stay.

For instance, in January 2020, during the International Master Course on Aging Science (IMCAS) conference in Paris, France, Lumenis Ltd. announced the debut of LightSheer Quattro, a laser hair removal platform. At the IMCAS World Congress in Paris in January 2020, Alma Laser, Inc., a Sisram Medical Company, introduced ClearSkin PRO. The gadget doubles its strength for treating skin aging by delivering 3000 mJ of non-ablative laser light each pulse. The U.S. FDA approved the Vbeam Prima Pulsed Dye Laser (PDL) from Candela Corporation in July 2018. This PDL treats various skin disorders, including rosacea, acne, facial, leg, and spider veins, scars, port wine stains, warts, stretch marks, wrinkles, and photoaging. Therefore, it is projected that the launch of such cutting-edge laser technologies would considerably assist market growth throughout the projection period.

Global Surgical Lasers Market Restraint

Limited Healthcare Spending in Developing Counties

Significant cost restrictions exist in the global healthcare business, particularly in emerging nations. Adoption of new technology necessitates weighing the expenses against the health results. The affordability of healthcare services is impacted by poor economic conditions, as measured by economic status, economic growth rate, and poverty levels in certain areas. According to the U.S. Centers for Medicare and Medicaid Services, US$3.5 trillion, or US$10,739 per person, was spent on healthcare in 2017, representing about 18% of the GDP. On the other hand, according to the National Health Profile, in 2018, emerging nations like India barely spent 1.4% of their GDP on healthcare.

In addition, some factors limiting the market growth are the poor understanding of electronic drug delivery systems, a lack of data connectivity, limited awareness of the advantages of connected drug delivery systems, and reluctance to adopt new technologies.

Global Surgical Lasers Market Opportunities

Technological Advancements

Technology developments, rising product approval rates, partnerships and cooperation amongst major businesses, and industry expansion contribute to this. For instance, the next-generation ALLY Adaptive Cataract Treatment System from LENSAR, Inc., a medical technology firm specializing in advanced femtosecond laser surgical solutions for the treatment of cataracts, was given US Food and Drug Administration 510(k) approval in June 2022. In August 2022, the Eye Institute of West Florida used the ALLY Adaptive Cataract Treatment System for the first time in commercial situations. Such changes are anticipated to accelerate market expansion. As a result of the variables, the market under study will be projected to expand throughout the investigation. However, the substantial procedural costs of laser surgery will probably restrain market expansion.

Regional Analysis

North America Dominates the Global Market

Based on region, the global surgical lasers market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America is the most significant Global Surgical Lasers Market shareholder and is estimated to grow at a CAGR of 10.9% over the forecast period. This dominance is due to factors including the availability of a well-developed healthcare infrastructure, strong acceptance rates for technologically sophisticated aesthetic laser technologies, and rising demand for cosmetic and aesthetic operations. Major companies' local presence and their ongoing strategic activities are further aspects that are projected to boost market expansion. The total number of ablative laser-assisted skin resurfacing treatments in the U.S. in 2016, up from 326,120 procedures in 2015, was estimated to be 316,886 by the American Society of Plastic Surgeons (ASPS). The market is anticipated to increase due to favorable reimbursement policies and rising demand for less invasive ophthalmic and cosmetic operations. The fact that this area holds the biggest market share also results from the existence of several market participants.

Europe is anticipated to exhibit a CAGR of 10.7% over the forecast period. The region's top market participants have development potential due to the presence of developed economies and favorable regulatory frameworks. Consequently, throughout the projection period, this area is anticipated to have profitable expansion. Germany has the highest market share in the area because of its superior economic structure and high adoption rate of cutting-edge technology. Additionally, market players' adoption of inorganic expansion tactics and the growing popularity of laser dentistry for treating oral mucosal lesions are major market growth drivers.

The Asia-Pacific market is expected to surge in demand during the forecast period. Several important firms are implementing various growth techniques to increase awareness of their laser products and acquire a competitive edge. For instance, in Bengaluru, India, in September 2018, the GuruKool unique scientific program and workshop was held by Lumenis Ltd., a medical equipment manufacturer for surgical, cosmetic, and ophthalmic uses. The market for surgical lasers in Asia Pacific is expected to be led by Japan. For instance, roughly 1,320,533 cosmetic/esthetic operations were carried out in Japan in 2018, according to data from the International Society of Aesthetic Plastic Surgery (ISAPS). According to the same authority, 401,713 hair removal treatments were carried out nationwide in 2018. The rise is influencing the development of cutting-edge medical equipment in healthcare spending. The nation's growing demand for cosmetic and aesthetic operations is projected to open an attractive potential for major firms in this market.

In Latin America, healthcare reforms and the creation of a regulatory framework for the medical and pharmaceutical industries have occurred. This has made a considerable contribution to the expansion of these developing economies. The increasing prevalence of chronic illnesses in Latin America also drives national healthcare spending. The pharmaceutical business has been expanding in nations like Mexico and Brazil due to untapped market potential and investments made by other nations to increase their global footprint. The growth in minimally invasive surgery is also attributed to the increased incidence of chronic conditions. As a result, these factors stimulate the market for surgical lasers in Latin America.

Middle East and Africa have greater potential for growth since healthcare facilities are concentrating on implementing cutting-edge disease management methods. The growing elderly population may present market expansion opportunities. Additionally, many new devices are receiving regulatory clearance in MEA nations to treat chronic disorders, boosting market expansion.

Segmental Analysis

The global surgical lasers market is bifurcated into usability, applications, composition, and distribution channels.

Based on product type, the global surgical lasers market is bifurcated solid-state lasers, gas laser systems, diode laser systems, and others.

The solid-state segment dominates the global market and is projected to exhibit a CAGR of 10.1% over the forecast period. Active ion species are injected into optically transparent crystals or glasses to create solid-state lasers. The most popular solid-state lasers include Alexandrite, Ruby laser systems, Erbium Yttrium Aluminium Garnet (Er: YAG), Neodymium Yttrium Aluminium Garnet (Nd: YAG), and others. The use of Nd: YAG laser systems for cosmetic procedures has spread worldwide as market participants introduce their goods and surgical laser systems in other regions.

For instance, in the U.S., Australia, and Europe in June 2020, Cynosure unveiled the Elite iQ, a system intended for cosmetic operations, including skin rejuvenation and laser hair removal. A live Melanin Reader in the device allows for tailored laser hair removal treatments on different body locations. One of the main factors boosting the category’s growth in the surgical lasers market is the development of Nd: YAG lasers, which are also popular owing to their effective outcomes on practically all skin types.

Based on application, the global surgical lasers market is bifurcated into aesthetic, surgical, dentistry, and ophthalmic.

The aesthetic segment owns the global market and is predicted to exhibit a CAGR of 10.4% over the forecast period. Aesthetic lasers have been employed in aesthetic medicine thanks to ongoing technological developments and novel therapeutic indications. Numerous U.S. FDA approvals that broaden dermatological uses, such as skin rejuvenation, varicose vein therapy, acne, tattoo, and pigmented lesions, aid in the growth of the aesthetics industry. In November 2016, Fotona d.o.o. opened the Laser and Health Academy (LA&HA Institute) to conduct advanced workshops and seminars, research novel medical laser applications, and enhance treatment standards and treatment efficacy/efficiency.

The global surgical laser market is segmented into hospitals, specialty clinics, and ambulatory surgical centers based on end-users.

The hospital segment dominates the global market and is predicted to exhibit a CAGR of 10% during the forecast period. The increase in cosmetic operations in hospitals in important markets like the U.S., Germany, and Japan is blamed for expanding the hospital segment. For instance, the American Society of Plastic Surgeons (ASPS) reports that around 4,488,550 cosmetic treatments were carried out in U.S. hospitals in 2018. Additionally, growing consumer awareness of aesthetic and cosmetic operations in developing nations like China and India will promote category expansion.

Recent Developments

• March 2023- Align introduced its first professional teeth-whitening system, compatible with Invisalign treatment. The Invisalign Professional Whitening System is designed specifically for Invisalign clear aligners and Vivera retainers.The NuTrace laser marking technology has been developed by Surgical Holdings, a reputable and award-winning British producer of surgical instruments, to assist hospitals in ensuring the complete traceability of surgical instruments throughout the sterile supply process.
• December 2022- The US FDA has declared that LASIK, a laser eye operation used to address vision issues, is not as safe as previously thought. As a result, the FDA produced a new guideline draft outlining the procedure's risks and potential adverse effects for individuals considering it. Double vision, dry eyes, soreness, difficulties driving at night, and seeing haloes around things are possible side effects.