Medical Laser Fibers Market Report Covers Detailed Industry Scope, Future Scenario and Elaborates Outlook to 2027

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. The Asia Pacific region market is the fastest-growing market among all regions and is expected to grow with CAGR of 12.3%. This market is expected to reach US$ 304.99 in 2027 from US$ 109.35 Mn in 2018. Major driving factors such as increasing adoption of minimally invasive surgeries, increasing prevalence of chronic diseases, and technological advancements in medical lasers are expected to drive the market growth.

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Company Profiles

  • Clarion Medical Technologies
  • Lumenis
  • biolitec AG
  • BD
  • Boston Scientific Corporation
  • Olympus Corporation
  • Cook
  • Richard Wolf GmbH
  • IPG Photonics Corporation

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.

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 emerging markets in the developing countries in the Asia Pacific region are creating better opportunities for the major market players to expand their business. This is a major reason for the market growth in the forecast period. Most of the major players focus on emerging markets such as India, China, and others. As they have a large number of population and technological advancements in these countries also favor the growth of the market. Furthermore, the growing healthcare sector in this region is likely to enhance the growth opportunities for the medical laser fibers market. For instance, the increasing number of corporate hospitals like Apollo group, Max, Fortis, and others in India is likely increasing professionalism as well as lead to the emergence of the latest medical technology. Moreover, the gulf countries in the Middle Eastern region are also extensively focusing on improving the healthcare facilities in their region with substantial investments towards it. For instance, the government of the United Arab Emirates (U.A.E.) is opening up the policies to gain foreign investments so as to improve the healthcare standard and boost the healthcare industry. Moreover, the government spent approximately US$ 16 billion (AED 59.15 billion) in 2016 for healthcare.

Product launches, partnerships, and acquisitions were observed as the most adopted strategy in global medical laser fibers market industry. For instance, in May 2015, Olympus unveiled five of its products in the urology division, including the 200 Series Laser Fiber. Other products included, GLIDEWIRE Hydrophilic Coated Urologic Guidewire, ShockPulse- SE, UltraTrack Hybrid Guidewire, and UroPass Access Sheath full portfolio. The enhanced product line up is expected to enhance healthcare reforms such as increased quality of care, decreased costs, and enhanced patient satisfaction.

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Posted by on Monday July 13 2020, 5:59 AM EDT. All trademarks acknowledged. Filed under Biotechnology, Business Services, Diagnostics, Featured Press Release, Healthcare, Life Sciences, Medical Devices, Pharmaceuticals. Comments and Trackbacks closed. Follow responses: RSS 2.0

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