Technological advancement in various medical applications will provide substantial boost to laser surgical equipment market
Meridian Market Consultants (MMC) has published a new report titled, “Laser Surgical Equipment Market: Opportunity Analysis and Future Assessment 2019 to 2027”
Global Laser Surgical Equipment Market, by Laser Types (Carbon Dioxide (CO2) Lasers, Argon Lasers, Nd:YAG (Neodymium: Yttrium-Aluminum-Garnet) Lasers, & Other Laser Types), By Application (Angioplasty, Cardiovascular Surgery, Cancer Diagnosis & Treatment, Dentistry, Cosmetics, Lithotripsy, Urology, Medical Imaging, Ophthalmology, Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2019 and 2027.
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As per the report, Laser surgery can be defined as a surgery in which lasers are used to operate surgery and to cut tissue by focusing in a narrow beam and by creating high intensity lights. Presently, lasers are used in many application in healthcare industry such as, for the treatment of cancer, plastic surgery, removal of kidney stones, and many other applications mainly related to the skin problems.
In comparison to other surgical procedures, laser surgery do less damage to the skin tissue and are more accurate and less painful and scarring, all above features of laser surgery helping to propel the demand of laser surgical equipment in comparison to other surgical procedures. Increasing incidence of chronical diseases and advancement in technology are some of the major factors that are expected to drive the growth of the market in the near future. However, high cost of laser surgery and lack skilled professional are some of the factor that are expected to hinder the growth of laser surgical equipment market
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Furthermore, Meridian Market Consultants (MMC) Study identifies that, In terms of regional segmentation, market is segmented into six regions i.e. North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America laser surgical equipment market is expected to dominate the market during the forecast period. Owing to availability advanced technological in the region and availability of skilled professionals in comparison to other regions are some of the major factors which are expected to propel the growth of market in the region. Also, favorable medical reimbursement, availability of novel surgical technologies, availability of key players of cosmetic laser equipment manufacturers in the region, and increasing clinical trials are some of the other factors which are expected to propel the growth of market in the region during the forecast period.
Asia Pacific followed by Latin America region is expected to grow at a highest CAGR during the forecast period owing to increase in geriatric population, and increasing prevalence of chronical diseases in these regions. Developing economies such as India, China, Mexico, and Brazil is becoming key focused countries for investment from key player, due to the availability of large pool of targeted patients in these countries, which is also one of the major factor for the highest growth rate of these regions during the forecast period.
MMC Study identifies some of the key participating players in Laser Surgical Equipment market globally are DEKA, Ellex Medical Laser Limited, HOYA Corporation, Johnson & Johnson Surgical Vision, Inc., klsmartin, Lumenis, Valley Surgical and others.
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