According to a new report from MarketsandMarkets, the surgical lasers market is expected to reach $2.37 billion by 2021, growing at a compound annual growth rate (CAGR) of 5.1% from 2016 to 2021.
Factors driving market growth include technological advancements in surgical lasers, high prevalence of chronic diseases, high prevalence of ophthalmic disorders, and growing preference for minimally invasive surgeries. However, limited medical reimbursements and high procedural costs associated with laser surgeries are expected to limit the optimal growth of this market during the coming years.
The report anticipates the carbon dioxide (CO2) lasers segment to grow at the highest CAGR due to the widespread availability of innovative CO2-based surgical lasers and ongoing technological advancements in cosmetic laser treatment.
Based on procedure type, the market is segmented into open surgery, laparoscopic surgery, and percutaneous surgery. The laparoscopic surgery segment is expected to dominate the market. This growth can be primarily attributed to the procedural benefits of laparoscopic procedures and growing patient awareness and market demand for less-invasive disease therapies.
By application, the market is segmented into ophthalmology, dentistry, dermatology, cardiology, gynecology, urology, oncology, and other applications. The urology segment is expected to be the fastest-growing surgical laser application segment.
Growth in this application segment can be attributed to the rising prevalence of urological disorders, such as kidney stones, renal cancer, and prostate enlargement, growing patient preference for minimally invasive urological surgeries, and ongoing technological advancements in surgical laser products.
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