SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global surgical lasers market was valued at US$ 1.4 billion in 2017, and is projected to exhibit a CAGR of 5.4% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Global Surgical Lasers Market:
Manufacturers in the global surgical laser market are focused on continuous product innovations, in order to help surgeons during surgical procedures, and also to increase their market share. For instance, in 2018, OmniGuide Holdings Inc., acquired Lisa Laser Products OGH, a surgical laser company based in Germany, to develop lasers for urological applications.
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Also, in 2015, Alcon, a division of Novartis, introduced the latest advancement in its WaveLight refractive portfolio- Contoura Vision for LASIK treatment, at the American Academy of Ophthalmology (AAO) in Las Vegas, U.S. Furthermore, in April, 2019, Bausch + Lomb initiated a clinical trial of its Technolas Teneo excimer laser to correct myopia and myopic astigmatism.
Additionally, an increase in surgical procedures is expected to bolster market growth. According to the data from the American Academy of Ophthalmology, in 2017, over 8 million patients in the U.S. alone received laser surgery.
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Key Market Takeaways:
- The global surgical lasers market is expected to exhibit a CAGR of 5.4% during the forecast period (2018 – 2026), as a result of increasing prevalence of conditions such as cataract. According to the Centre for Disease Control and Prevention, in 2015, around 20.5 million people in the U.S. (mainly those aged 40 years and older) suffered from cataracts. Thus, increasing prevalence of cataract and increasing demand for laser surgery is expected to drive growth of the surgical lasers market during the forecast period.
- North America region is expected to dominate the market owing to increasing product approvals and launches by key players. For instance, in May 2018, OmniGuide Holdings, Inc. commercially released the C-LAS Line of Sight CO2 Laser System, thereby providing a minimally invasive surgical option to patients with the precision of CO2 laser energy. In 2015, Modulight, Inc. received CE and ETL certification for its ML7710 laser platform. ML7710 supports a wide range of indications such as oncology, surgery and photo disinfection applications.
- 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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