Medical Laser Fibers Market Dynamics and Analysis by 2031
The Medical Laser Fibers Market size is projected to reach US$ 2,410.42 million by 2031 from US$ 823.57 million in 2022. The market is expected to register a CAGR of 12.9% in 2023–2031. Increased adoption of advanced medical laser fibers over conventional lasers are likely to remain key Medical Laser Fibers Market trends.
Medical Laser Fibers Market Analysis
Minimally invasive surgeries (MIS) continue to be a crucial part of general surgery as a viable option for conventional open surgery and laparoscopic techniques. Laser-assisted minimally invasive surgeries are becoming a standard in multiple applications as it help to reduce the duration of the recovery and reduce morbidity. Modern medicine increases the use of lasers for the treatment of different pathologies owing to the surging interest in minimally invasive procedures. Lasers are very commonly used in the fields of gynecology, urology, ophthalmology, dentistry, dermatology, and others. For instance, as per an article published by myvision.org, LASIK is one the most commonly performed laser-based eye procedures in the US, and over 20 million LASIK procedures will be performed in 2022. Moreover, as per American Society of Plastic Surgeons (ASPS) there were 1,798,253 of laser hair removal cases reported worldwide.
Medical Laser Fibers Market Overview
Medical laser fibers are specialized fibers designed to deliver laser energy at target tissues with precision making them essential tools of minimally invasive procedures in the healthcare industry. These fibers have wide application areas such as urology, ophthalmology, dermatology, gastroenterology, oncology, and others. The increasing prevalence of chronic disorders has increased the demand for minimally invasive surgeries followed by technological advancement in medical laser fibers to reduce side effects and increase the efficiency of the overall treatment. Moreover, increasing demand of medical laser fibers from developing economies along with surging product launches is expected to create ample opportunities during the forecast period. However, increased adoption of advanced laser fibers over conventional lasers is expected to drive the market growth.
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Medical Laser Fibers Market: Strategic Insights
Market Size Value in US$ 109.35 Million in 2018 Market Size Value by US$ 304.99 Million by 2027 Growth rate CAGR of 11.1% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Medical Laser Fibers Market: Strategic Insights
| Market Size Value in | US$ 109.35 Million in 2018 |
| Market Size Value by | US$ 304.99 Million by 2027 |
| Growth rate | CAGR of 11.1% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Medical Laser Fibers Market Drivers and Opportunities
Technological Advancement to Favor Market
With the advancing field of photonics, fiber lasers have continued to be a preferred choice by medical professionals for many uses including diagnostics and therapeutic applications. These fibers have been adopted rapidly primarily due to their physical characteristics that consist of a fiber waveguide structure. A wide variety of wavelengths generated through fiber lasers as well as the diversity of physical mechanisms used in pulse generation also underpins and supplements the flexibility of fiber laser technology.
The market players are launching innovative medical laser fibers in the market that is likely to boost its adoption and aid in the growth of the global medical laser fibers market. For instance, in August 2023, InnoVoyce launched a new 300-micron fiber designed to deliver greater flexibility and control during vocal repair procedures. With the assistance of a new delivery system, physicians can improve the control and precision required to target treatment areas while minimizing the risk of damage to surrounding tissue.
Market Expansion in Emerging Economies – An Opportunity in Medical Laser Fibers
The emerging markets in developing countries are creating more opportunities for the major market players to expand their businesses. Most of the major players focus on emerging markets such as China, India, and others. As these countries have large populations with huge patient pools and increasing technological advancement along with new product launches are expected to anticipate market growth.
Furthermore, the growing healthcare sector in these regions is likely to enhance the growth prospects 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 policies to gain foreign investments to improve the healthcare standard and boost the healthcare industry. Therefore, all the above-mentioned factors are expected to create ample opportunities for the medical laser fibers market during the forecast period.
Medical Laser Fibers Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Medical Laser Fibers Market analysis are type and application.
- Based on type, the Medical Laser Fibers Market is divided into reusable medical laser fibers and disposable medical laser fibers. The reusable laser fibers segment held a larger market share in 2023.
- By application, the market is segmented into urology, ophthalmology, cardiovascular, respiratory, neurology, and other applications. The urology segment held the largest share of the market in 2023.
Medical Laser Fibers Market Share Analysis by Geography
The geographic scope of the Medical Laser Fibers Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the Medical Laser Fibers Market owing to the increase in demand by the surging geriatric population suffering from BPH, the rise in the number of chronic diseases like kidney diseases, cardiovascular diseases and others, and the presence of key market players offering various laser fibers. In addition, the increase in the adoption of laser treatment for aesthetics and ophthalmology in the regions is likely to stimulate the growth of the medical laser fibers market in North America. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Medical Laser Fibers Market Report Scope
Medical Laser Fibers Market News and Recent Developments
The Medical Laser Fibers Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for medical laser fibers:
- Rhein Laser Technologies Ltd. launched UroFiber SuperPulsed Thulium Fiber Laser System at MEDICA 2023 in Germany. The system sets a new standard for urological procedures as the world's first 1940nm 150W SuperPulsed Thulium Fiber Laser (TFL) system for perfectly treating both stone lithotripsy and BPH enucleation. (Source: Rhein Laser Technologies Ltd., Newsletter, 2023)
- Connet Launches 2um High Power QCW Fiber Laser for Lithotripsy and Soft Tissue Surgery Applications. Connet 2.0μm high power QCW fiber laser can be used in scientific research, industrial processing, and medical applications. The laser can be especially used in some surgical applications like resection, ablation, vaporization, coagulation and hemostasis of soft tissue in urology, lithotripsy and general surgery. (Source: Connet Laser Technology Co.,Ltd., Press Release, 2023)
- Iridex Corporation launched two new next-generation platform lasers—Iridex 532 nm and Iridex 577 nm —to the U.S. market at the Hawaiian Eye and Retina 2024 Meeting. Both lasers harness multiple treatment modes including continuous-wave and Iridex’ patented MicroPulse® Technology and an intuitive touchscreen interface providing a wide range of clinical control options and features to optimize the treatment of retinal disorders and glaucoma. (Eyes On Eyecare, Newsletter, 2024)
Medical Laser Fibers Market Report Coverage and Deliverables
The “Medical Laser Fibers Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Application and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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