Market Trends of Global Surgical Lasers Industry
This section covers the major market trends shaping the Surgical Lasers Market according to our research experts:
Dermatology Segment is Expected To Witness Growth Over The Forecast Period
Numerous vascular lesions, such as facial telangiectasias, haemangiomas, pyogenic granulomas, Kaposi sarcoma, and poikiloderma of Civatte, have been effectively treated using lasers. In the last 20 years, developments in laser technology have revolutionized its usage in the treatment of various skin problems and congenital deformities, including vascular and pigmented lesions, and the removal of tattoos, scars, and wrinkles. There is a spectrum of laser and light technologies available for skin resurfacing and rejuvenation.
As per the International Society of Aesthetic Plastic Surgery (ISAPS), 1,837,052 laser hair removal procedures and 240,213 micro-ablative resurfacing procedures were done worldwide in 2020. It has been observed that despite the COVID-19 outbreak, the number of these non-surgical laser-based aesthetic procedures increased drastically compared to that of 2019. For instance, in 2019, hair removal procedures accounted for around 1,042,951. The surge in hair removal procedures that uses lasers is ultimately augmenting segment growth.
Furthermore, surging demand for cosmetic procedures worldwide was seen worldwide in 2021. For instance, as per a survey conducted in 2021 by the Menarini Group, an Italian pharmaceutical company among 100 dermatologists and plastic surgeons across India revealed that 65% of the respondents agree that facelift is the most sought-after facial aesthetic procedure in India and 37% of the respondents have observed an increased demand for aesthetic procedures since the onset of the global COVID-19 pandemic with the desire to look good on social media. Thus, there has been a rise in awareness among people of dermatological procedures which is likely to boost the segment's growth.
Therefore, there is a growth in the dermatology segment of the studied market.
North America is Expected to Dominate the Surgical Lasers Market Over The Forecast Period
North America is expected to hold a significant market share in the surgical lasers market, due to the increasing aging population, rising burden of chronic diseases, growing demand for cosmetic surgeries, and growing awareness among the people, and several cosmetic laser manufacturers.
The Population Reference Bureau in its report on Aging in the United States published in December 2021 indicated that more than 55 million people living in the United States were above the age of 65 years. The rise in the aging population in the United States is expected to add to the market growth over the forecast period.
According to the 2020 Plastic Surgery Statistics Report by the American Society of Plastic Surgeons, 15.6 million cosmetic procedures and 6.8 million reconstructive procedures were performed in the United States in 2020. The report indicated that around USD 16.7 billion was spent on cosmetic procedures in the United States. The cosmetic and reconstructive procedure largely uses lasers. Furthermore, the high adoption rate of novel technologies, the surge in healthcare expenditure, and the presence of well-established healthcare infrastructure are fueling the overall regional market's growth.
Various regional companies and institutions are involved in clinical trials to develop a cure for diseases using surgical lasers. For instance, a clinical trial titled "Fractionated Carbon Dioxide Laser Therapy for Treatment of Peyronie's Disease" was sponsored by the University of British Columbia (Canada) to evaluate the use of fractional carbon dioxide laser therapy in the treatment of Peyronie's Disease. The clinical trial commenced on May 2021 and expected to be completed by December 2022. Such trials are anticipated to boost the demand for surgical lasers in the region.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
