The medical laser system market is growing at a considerable rate, due to increased awareness of medical aesthetics, growing number of patients using advanced laser based treatments, and rapid rise in age related ophthalmic disorders. Rise in disposable incomes in developing economies and increased demand for laser treatment in emerging economies have provided ample opportunities to the growth of medical laser system market to grow in the coming years.
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North America leads the medical laser system market, due to the rising incidences of chronic diseases such as diabetes and obesity. Asia-Pacific is growing with the highest rate, due to unaddressed need for medical treatment in developing countries such as, India and China in the region.
Medical Laser Systems are used to produce a monochromatic beam of light containing a specific wavelength and it is strongly concentrated. The demand for lasers in the field of medicine is rising rapidly, due to the flexibility of its light. Power, pulsed or continuous wave operation, and wavelength of laser, define the characteristics of laser light.
On the basis of products, the medical laser system market can be categorized into solid state laser systems, diode laser systems, dye laser systems and gas laser systems. The diode laser system leads the medical laser system market and is expected to grow in the coming years, due to its varied medical applications such as, numerous aesthetic treatments and photodynamic therapy. Solid state laser system is expected to grow with the highest rate, due to its numerous modifications having specific applications in medical related treatments such as, periodontology, tattoo removal, skin treatment and vein removal.
Gas laser systems include metal vapor lasers, excimer lasers, argon lasers, helium-neon lasers, krypton lasers and CO2 lasers. Solid state laser systems include, erbium yttrium aluminum garnet lasers, alexandrite lasers, holmium yttrium aluminum garnet lasers, ruby lasers, potassium titanyl phosphate and neodymium yttrium aluminum garnet lasers.
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Technology advancement, prevalence of chronic diseases and growing importance of aesthetics are some of the major factors driving the growth of medical laser system market. Some of the factors restraining the growth of the medical laser system market are high failure rates, compliance with stringent safety regulations and implementation of affordable care act in the U.S.
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Meeting the need for laser treatment globally in several applications such as, cardiovascular diseases, dermatology diseases, and technological advancements are the key strategies for the competitors in the medical laser system market. Some of the major competitors in the medical laser system market are Cardiogenesis Corporation, Bausch & Lomb Holdings, Inc., Photomedex, Inc., IRIDEX Corp., American Medical Systems, Inc., Syneron Medical Ltd., Lumenis Ltd., Alcon Laboratories, Spectranetics Corporation, Inc., and Biolase Inc.
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