LASER stands for light amplification by stimulated emission of radiations. It possesses properties such as high monochromaticity, coherence and directionality which attributes to its strong penetration power. Lasers are widely used as a tool in surgery and diagnosis.
Some of the major product types encompassing the medical laser systems market are diode lasers, solid state lasers, gas lasers and dye lasers. This position is majorly attributed to their use in an array of medical applications such as photodynamic therapy, numerous aesthetic treatments such as hair and wrinkle removal, liposuction and tooth whitening; and surgical treatments. Diode laser market held the largest market share in the global medical laser systems market in 2011 and is sub-segmented into following subtypes of lasers: Ho:Yag laser, Nd:Yag laser, Er:Yag laser, KTP laser, Alexandrite and Ruby Lasers.
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Amongst all these sub-segments of the solid state laser systems, in 2011, neodymium yttrium aluminum garnet lasers held the largest market share of the total solid state laser systems market and is expected to maintain its position in 2018. Its applicability to treat ailments in several medical fields such as dermatology, gastroenterology, urology, ophthalmology and gynecology justifies its position.
The holmium yttrium aluminum garnet lasers are expected to grow at the fastest CAGR of over 16% during 2012 to 2018. It finds medical application in the field of dermatology, urology and cardiology. Increasing demand of cosmetic procedures such as pigment lesion, tattoo and birthmark removal, temporary hair removal and wrinkle treatment contribute to the high growth rate of these laser systems.
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The medical laser systems market is segmented on the basis of applications into eight major divisions, viz. ophthalmology, dermatology, gynecology, urology, dentistry, cardiovascular diseases and other applications such as rheumatology, traumatology, gastroenterology, etc. The cardiovascular segment of the medical laser systems market is expected to be the fastest growing market owing to the increase in the prevalence of cardiovascular diseases and development of cost effective treatment techniques.
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The overall medical laser systems market is segmented into North America, Europe, Asia-Pacific and rest of the world. Among these regions, the North America medical laser systems market held majority of the market share in 2011 followed by Europe. Surgical procedures in Europe have taken a back seat to non-surgical, minimally invasive, anti-aging treatments. In the areas of skincare and dermatology, the focus has now shifted from conventional methods of treatment to advance technologies. It is no longer just about filling lines with hyaluronic acid or erasing wrinkles with a neurotoxin. Today, physicians are treating skin, for compactness and uniformity which can be accomplished through new generation of technically advanced aesthetic laser treatment. People who have undergone cosmetic treatments about 10 years ago have reached the age of 60 by now and there is a complete transformation in the scenario with regard to their demand for surgical processes. This has resulted in an increased demand for non-invasive cosmetic procedures, thus boosting medical laser market.
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