The global medical laser fibers market is expected to reach US$ 1,438.65 Mn in 2027 from US$ 565.61 in 2018. The market is estimated to grow with a CAGR of 11.1% from 2019-2027.
The key factors such as increasing adoption of minimally invasive surgeries, increasing prevalence of chronic diseases, and technological advancements in medical lasers are likely to boost the market growth, whereas, continued adoption of fiber lasers over conventional lasers is likely to be a prevalent trend in the future years.
Minimally invasive surgeries (MIS) continues to play a crucial role in general surgery as a sustainable alternative to conventional open surgery and traditional laparoscopic techniques. Laser-assisted minimally invasive surgeries are becoming a gold standard in multiple applications as it helps to cut short the recovery time and reduce morbidity. The modern medicine incorporates increasing utilization of lasers for the treatment of a variety of pathologies as the interest in less invasive treatment modalities gets intense. Lasers are very commonly used in the field of ophthalmology, gynecology, urology, dentistry, aesthetics, and others.
For instance, according to an article published by Vision Eye Institute 2016, LASIK is the most commonly performed laser eye procedure in the US, and over 16 million patients had LASIK in 2015-2016. Moreover, a publication by the American Society of Plastic Surgeons (ASPS) mentioned that there was 1,086,830 number of laser hair removal cases reported in the US in 2017 as compared to 1,109,385 in 2016. The use of lasers making minimally invasive surgeries more efficient, safe, and innovative are likely to enable the manufacturers and researchers to come up with striking solutions thereby fostering the market growth of global medical laser fibers.
The global medical laser fibers market, based on the type was segmented into reusable medical laser fibers and disposable medical laser fibers. In 2018, the reusable laser fibers segment held the largest market share of 57.9% of the medical laser fibers market, by type. The reusable laser fibers are cost-effective and durable solutions over the disposable variants that make them account for a dominant share in the market.
However, the disposable laser fibers segment is expected to witness the highest CAGR of 11.6% over the coming years. The high growth of the segment attributes to the effective performance exhibited by these fibers incomparable costs to the reusable counterparts.
Key Topics Covered:
1. Introduction 1.1 Scope of the Study 1.2 Research Report Guidance 1.3 Market Segmentation
2. Global Medical Laser Fibers Market - Key Takeaways
3. Global Medical Laser Fibers- Market Landscape 3.1 Overview 3.2 PEST Analysis
4. Global Medical Laser Fibers Market - Key Industry Dynamics 4.1 Key Market Drivers 4.1.1 Increasing Adoption of Minimally Invasive Surgeries 4.1.2 Technological Advancements 4.1.3 Increasing Prevalence of Chronic Diseases 4.2 Key Market Restraints 4.2.1 Stringent Regulatory Validation Requirement 4.3 Key Market Opportunities 4.3.1 Emerging Markets in Developing Countries 4.4 Future Trends 4.4.1 Continued Adoption of Fiber Lasers over Conventional Lasers 4.5 Impact Analysis
5. Medical Laser Fibers Market - Global Analysis 5.1 Global Medical Laser Fibers Market Revenue Forecasts And Analysis 5.2 Global Medical Laser Fibers Market, By Geography - Forecasts And Analysis 5.3 Market Positioning of Key Players
6. Medical Laser Fibers Market Analysis And Forecasts To 2027 - Type 6.1 Overview 6.2 Global Medical Laser Fibers Market Share by Product 2018 & 2027 (%) 6.3 Reusable Laser Fibers Market 6.4 Disposable Laser Fibers Market
7. Medical Laser Fibers Market Analysis And Forecasts To 2027 - Application 7.1 Overview 7.2 Global Medical Laser Fibers Market Share by Application 2018 & 2027 (%) 7.3 Urology 7.3.1 Overview 7.3.2 Urology Market Revenue and Forecast to 2027 (US$ Mn) 7.3.3 Urology Laser Systems 7.3.4 Reusable Urology Laser Fibers 7.3.5 Disposable Urology Laser Fibers 7.4 Ophthalmology 7.4.1 Overview 7.4.2 Ophthalmology Market Revenue and Forecast to 2027 (US$ Mn) 7.4.3 Ophthalmology Laser Systems 7.4.4 Reusable Ophthalmology Laser Fibers 7.4.5 Disposable Ophthalmology Laser Fibers 7.5 Cardiovascular 7.5.1 Overview 7.5.2 Cardiovascular Market Revenue and Forecast to 2027 (US$ Mn) 7.5.3 Cardiovascular Laser Systems 7.5.4 Reusable Cardiovascular Laser Fibers 7.5.5 Disposable Cardiovascular Laser Fibers 7.6 Respiratory 7.6.1 Overview 7.6.2 Respiratory Market Revenue and Forecast to 2027 (US$ Mn) 7.6.3 Respiratory Laser Systems 7.6.4 Reusable Respiratory Laser Fibers 7.6.5 Disposable Respiratory Laser Fibers 7.7 Neurology 7.7.1 Overview 7.7.2 Neurology Market Revenue and Forecast to 2027 (US$ Mn) 7.7.3 Neurology Laser Systems 7.7.4 Reusable Neurology Laser Fibers 7.7.5 Disposable Neurology Laser Fibers 7.8 Other Applications 7.8.1 Overview 7.8.2 Other Applications Market Revenue and Forecast to 2027 (US$ Mn) 7.8.3 Other Applications Laser Systems 7.8.4 Reusable Other Applications Laser Fibers 7.8.5 Disposable Other Applications Laser Fibers
8. Medical Laser Fibers Market Revenue And Forecasts To 2027 - Geographical Analysis
9. Europe Medical Laser Fibers Market Revenue and Forecasts to 2027
10. Asia Pacific Medical Laser Fibers Market Revenue and Forecasts to 2027
11. Middle East & Africa Medical Laser Fibers Market Revenue and Forecasts to 2027
12. South and Central America Medical Laser Fibers Market Revenue and Forecasts to 2027
13. Medical Laser Fibers Market - Industry Landscape
14. Medical Laser Fibers Market-Key Company Profiles