Medical Laser Fibers Market Size, Share Report 2022, 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

Publication Month : Jul 2019

  • Report Code : TIPRE00006076
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 225
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The global medical laser fibers market was valued US$ 565.61 in 2018, it 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 medical laser fibers 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.

Lucrative Regional Medical Laser Fibers Markets

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Market Insights

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.

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.

Type Insights

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.

Medical Laser Fibers Market, by Type

Medical Laser Fibers Market, by Type
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Medical Laser Fibers Market: Strategic Insights

medical-laser-fiber-market
Market Size Value inUS$ 109.35 Million in 2018
Market Size Value byUS$ 304.99 Million by 2027
Growth rateCAGR of 11.1% from 2019-2027
Forecast Period2019-2027
Base Year2019
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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.

MEDICAL LASER FIBERS MARKET – MARKET SEGMENTATION

Global Medical Laser Fibers Market – By Type

  • Reusable Laser Fibers
  • Disposable Laaser Fibers

Global Medical Laser Fibers Market – By Application

  • Cardiovascular
    • Reusable Cardiovascular Laser Fibers
    • Disposable Cardiovascular Laser Fibers
  • Neurology
    • Reusable Neurology Laser Fibers
    • Disposable Neurology Laser Fibers
  • Respiratory
    • Reusable Respiratory Laser Fibers
    • Disposable Respiratory Laser Fibers
  • Urology
    • Reusable Urology Laser Fibers
    • Disposable Urology Laser Fibers
  • Ophthalmology
    • Reusable Ophthalmology Laser Fibers
    • Disposable Ophthalmology Laser Fibers
  • Other Applications
    • Reusable Other Applications Laser Fibers
    • Disposable Other Applications Laser Fibers

Global Medical Laser Fibers Market – By Application

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • UK
    • Spain
    • Italy
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Middle East & Africa (MEA)

    • Saudi Arabia
    • South Africa
    • UAE
  • South America (SAM)

    • Brazil
    • Argentina

Company Profiles

  • Clarion Medical Technologies
  • Lumenis
  • biolitec AG
  • BD
  • Boston Scientific Corporation
  • Olympus Corporation
  • Cook
  • KARL STORZ SE & Co. KG
  • Richard Wolf GmbH
  • IPG Photonics Corporation
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type , Application and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies - Medical Laser Fibers Market

  1. Clarion Medical Technologies
  2. Lumenis
  3. biolitec AG
  4. BD
  5. Boston Scientific Corporation
  6. Olympus Corporation
  7. Cook
  8. KARL STORZ SE & Co. KG
  9. Richard Wolf GmbH
  10. IPG Photonics Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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