Medical Laser Fibers Market Size to hit USD 1.43 Bn, Globally, by 2027

Medical Laser Fibers Market to 2027 - Global Analysis and Forecasts By Type (Reusable Laser Fibers and Disposable Laser Fibers), Application (Urology, Ophthalmology, Cardiovascular, Respiratory, Neurology, and Other Applications) and Geography

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.

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Strategic Insights:
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.

Emerging Markets in Developing Countries

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.

Increasing Adoption of Minimally Invasive Surgeries

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.

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