Global Medical Laser Market Research Report 2019 is created to provide the market landscape and unlimited guideline about contemporary market size, share, driving factors, trends, progressive growth, and dominant players of the Medical Laser market. The report serves overall information on the market to top manufacturers, distributors, traders, dealers. It will help them understand the product scope, market overview, market driving force, technological advancement, market risk, opportunities, and research findings.
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Some of the major players of the market are:
Bausch & Lomb Holdings, Koninklijke Philips NV, IRIDEX Corporation, Biolase Inc., Syneron-Candela, Lumenis Ltd, Alcon Laboratories Inc., Cutera Inc, American Medical Systems, PhotoMedex Inc., Biolitec AG, AngioDynamics Corp., Novadaq Technologies Inc., Coherent Inc., amongst others.
The medical laser market is expected to record a CAGR of 11.5% over the forecast period. Medical lasers provide high level of precision during surgical procedures, while reducing damage to the surrounding tissues. Factors, such as increasing preference for minimally invasive procedures, rising incidences of eye disorders, and increasing number of cosmetic procedures, are contributing to the market growth. However, the high costs associated with procurement and installation of medical laser systems and stringent safety regulations can adversely affect the market growth.
Increasing Preference for Minimally Invasive Procedures
In the recent years, there has been a paradigm shift toward minimally invasive procedures, this trend is primarily due to the advancements in minimally invasive techniques and less recovery time associated with the procedures. Minimally invasive procedures also provide better cosmetic results that greatly increase patient compliance. Significant advancements have been made in the field of endoscopic laser treatments, and medical lasers are being utilized in several minimally invasive procedures, which include spinal and endovenous procedures. Laser endoscopic spinal surgery utilizes laser ablation to effectively treat disc herniation, bone spurs, slipped vertebrates, spinal stenosis, and spinal joint arthritis. Other factors that are fueling the market expansion include rising incidences of eye disorders and increasing number of cosmetic procedures.
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High Installation Costs
High costs associated with procurement and installation of medical laser systems are hindering the market growth, especially in the underdeveloped economies. The purchase of a laser systems involves large initial investments and careful consideration to laser specifications according to the use case. Furthermore, requirement of trained personnel and regular maintenance also adds up to the cost, which makes operating laser systems resource intensive. Other factors that can potentially impede the market growth include stringent safety regulations.
North America Dominates the Medical Laser Market
In 2017, North America was the largest regional market, in terms of revenue. The increasing preference for cosmetic procedures and high adoption rate of novel technologies are the primary factors behind large market size. Asia-Pacific is expected to grow at a rapid pace over the forecast period, owing to the increasing healthcare expenditure, rising awareness, and trend of medical tourism in the developing economies of the region.
Table of Contents:
2 Medical Laser Market Research Methodology
3 Executive Summary
4 Medical Laser Market Dynamics
5 Medical Laser Market Segmentation
6 Competitive Landscape
7 Medical Laser Market Opportunities And Future Trends
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