Holmium Laser Systems Market
Number of pages: 100 | Report Format: PDF | Published date: April 11, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 726.93 million |
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Revenue Forecast in 2031 |
US$ 1,090.49 million |
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CAGR |
5.2% |
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Base Year For Estimation |
2021 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global holmium laser systems market was valued at US$ 726.93 million in 2022 and is expected to register a revenue CAGR of 5.2% to reach US$ 1,090.49 million by 2031.
Holmium Laser Systems Market Fundamentals
Holmium laser systems are medical devices that use laser technology based on the element holmium (Ho) to perform various surgical procedures. The holmium laser emits light energy absorbed by water, causing the tissue to vaporize and coagulate. This makes it a valuable tool in urology, particularly in treating urological conditions such as benign prostatic hyperplasia (BPH) and kidney stones. Holmium laser systems consist of a holmium laser, a delivery device (fiber optic cable), and various surgical accessories. The laser produces a wavelength of 2140 nm, which is highly absorbed by water and is, therefore, effective for cutting, ablation, and tissue coagulation. The fiber optic cable is used to deliver the laser energy to the surgical site, and the surgical accessories include various probes and fibers for different types of procedures.
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According to the National Center for Biotechnology Information, the prevalence rate of kidney stones is estimated to be 12% globally. Urological disorders such as kidney stones and benign prostatic hyperplasia (BPH) are increasing worldwide, particularly in aging populations. This drives demand for surgical treatments, including those that use holmium laser systems.
Holmium Laser Systems Market Dynamics
The holmium laser systems market revenue is primarily driven by the increasing prevalence of urological disorders and the demand for minimally invasive surgical procedures. Holmium laser systems are highly precise and effective in treating urological conditions such as kidney stones and benign prostatic hyperplasia (BPH). Compared to conventional surgical techniques, they have fewer side effects, a lower risk of infection, shorter hospital stays, and quicker recovery times. The market revenue for holmium laser systems is growing due to technological improvements, with businesses spending money on R&D to enhance the performance and usefulness of their products.
Besides, holmium laser systems offer several advantages over traditional surgical methods, including minimal bleeding, reduced risk of infection, shorter hospital stays, and faster recovery times. As patients become more aware of these benefits, there is an increasing demand for minimally invasive surgical procedures, driving the revenue growth of holmium laser systems. Companies are investing in research and development to improve the performance and functionality of holmium laser systems.
Healthcare providers are increasingly focused on cost-effectiveness and value-based care. As a result, there is growing interest in surgical technologies such as holmium laser systems that offer both clinical benefits and cost savings over traditional surgical methods. The growth in healthcare infrastructure in developing countries provides more patients access to advanced surgical technologies, including holmium laser systems. This increased access is also expected to drive the holmium laser systems market revenue growth. However, holmium laser systems are subject to stringent regulatory requirements that restrict market revenue growth of the holmium laser systems. The use of holmium laser systems requires skilled medical professionals who are trained to operate the technology. There is a shortage of trained professionals in some regions, which also hinders the holmium laser systems market revenue growth.
North America currently dominates the holmium laser systems market due to the high prevalence of urological disorders in the region and the availability of advanced healthcare infrastructure. Asia Pacific is expected to grow faster during the forecast period, driven by increasing healthcare expenditure and awareness of minimally invasive surgical procedures.
Holmium Laser Systems Market Ecosystem
The global holmium laser systems market is analyzed from three perspectives: application, end user, and region.
Holmium Laser Systems Market by Application
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Based on the application, the global holmium laser systems market is segmented into benign prostatic hyperplasia (BPH), urolithiasis, non-muscle-invasive bladder cancer (NMIBC), and others.
The benign prostatic hyperplasia (BPH) segment accounts for the largest holmium laser systems market revenue share in 2022. Holmium laser systems are a preferred treatment option for benign prostatic hyperplasia as they are minimally invasive and have fewer complications than traditional surgical methods. Benign prostatic hyperplasia is a common urological disorder affecting many older men. This high prevalence translates into a large patient pool for holmium laser systems used for benign prostatic hyperplasia treatment. Holmium laser systems are highly effective in treating benign prostatic hyperplasia, with a low risk of complications and a high success rate. Holmium laser systems are considered a cost-effective treatment option for benign prostatic hyperplasia, particularly compared to traditional surgical methods. This has contributed to their adoption by healthcare providers and their dominance in the market. Reimbursement policies for holmium laser systems used in treating benign prostatic hyperplasia are generally favorable, further contributing to their adoption by healthcare providers.
The urolithiasis segment is expected to experience the fastest revenue growth in the holmium laser systems market. Holmium laser systems are highly effective in treating urolithiasis, with a high success rate and low risk of complications. Holmium laser systems have undergone significant technological advancements in recent years, including developing new laser wavelengths and delivery systems. These advancements have improved the precision and efficiency of holmium laser surgery for urolithiasis. Outpatient operations that enable patients to go home the same day are becoming more popular as the emphasis on efficiency and value-based care increases. Due to their less invasive nature and rapid recovery times, holmium laser systems are especially well-suited to outpatient treatments.
Holmium Laser Systems Market by End User
Based on end users, the global holmium laser systems market is segmented into hospitals, urology clinics, ambulatory surgical centers, and others.
The hospital's segment dominated the holmium laser systems market with a significant revenue share. Hospitals typically have higher patient volumes than other healthcare settings, translating into higher demand for surgical procedures such as those that use holmium laser systems. Hospitals generally have the resources and infrastructure to support advanced surgical technologies like holmium laser systems. This includes trained medical professionals, specialized equipment, and support services such as anesthesia and postoperative care. Hospitals often serve as referral centers for patients with complex medical conditions or cases that require technical expertise. This can further drive demand for advanced surgical technologies like holmium laser systems. Hospitals are increasingly focused on delivering high-quality care and achieving positive patient outcomes. Holmium laser systems effectively accomplish these goals, which has further contributed to their adoption by hospitals.
The urology clinics segment also accounts for a significant holmium laser systems market revenue share. Urology clinics offer specialized care for urological disorders, including benign prostatic hyperplasia and urolithiasis. This has led to increasing demand for urology clinics, particularly as the prevalence of these disorders continues to grow. Urology clinics often focus on minimally invasive procedures, which patients and healthcare providers prefer due to their reduced risk of complications and quicker recovery times. Holmium laser systems are an effective and minimally invasive treatment option for urological disorders, contributing to their adoption by urology clinics. Holmium laser systems have undergone significant technological advancements in recent years, which have improved their precision and efficiency in treating urological disorders. These advancements have contributed to the urology clinic's adoption of holmium laser systems. Urology clinics are often focused on providing outpatient procedures, which allow patients to return home the same day. Holmium laser systems are particularly well-suited to outpatient procedures due to their minimally invasive nature and quick recovery times, thus boosting segmental revenue growth.
Holmium Laser Systems Market by Region
Geographically, the global holmium laser systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the holmium laser systems market with the largest revenue share in 2022. North America has a large number of aging baby boomers at a higher risk for urological disorders such as benign prostatic hyperplasia and kidney stones, driving the demand for holmium laser systems in the region. According to National Center for Biotechnology Information in the U.S., kidney stones affect approximately 1 in 11 people. Patients and healthcare providers in North America are increasingly focused on minimally invasive procedures, which offer a reduced risk of complications and quicker recovery times. Holmium laser systems are a minimally invasive treatment option for urological disorders, contributing to their adoption in the region. Holmium laser systems have undergone significant technological advancements in recent years, which have improved their precision and efficiency in treating urological disorders. These advancements have contributed to healthcare providers' adoption of holmium laser systems in North America. North America has one of the highest healthcare expenditures in the world, which allows for greater investment in advanced medical technologies such as holmium laser systems. Reimbursement policies for holmium laser systems used in North America are generally favorable, contributing to their adoption by healthcare providers in the region.
Competitive Landscape of The Global Holmium Laser Systems Market
The prominent players operating in the global holmium laser systems market are:
Strategic Developments in Holmium Laser Systems Market
Holmium laser systems are medical devices that use laser technology based on the element holmium (Ho) to perform various surgical procedures. The holmium laser emits light energy absorbed by water, causing the tissue to vaporize and coagulate.
The expected size of the global holmium laser systems market in 2031 is US$ 1,090.49 million.
The global holmium laser systems market is expected to register a revenue CAGR of 5.2%.
The prominent global holmium laser systems market players are Olympus Corporation, Boston Scientific Corporation, Lumenis Ltd., Richard Wolf GmbH, and Cook Medical Incorporated.
North America accounts for the largest market revenue share during the forecast period. Asia Pacific accounts for the fastest revenue CAGR due to the surge in holmium laser systems market trends and demand.
*Insights on financial performance are subject to the availability of information in the public domain