Medical Laser Systems Market (CO2 Laser, Excimer Laser, Ho:Yag Laser, Nd:Yag Laser, Dye Laser, Solid State Laser and Gas Laser, Ophthalmology, Dermatology, Urology and Cardiovascular) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018
Albany, NY -- (SBWIRE) -- 10/30/2014 -- According to a new market report published by Transparency Market Research "Medical Laser SystemsMarket (CO2 Laser, Excimer Laser, Ho:Yag Laser, Nd:Yag Laser, Dye Laser, Solid State Laser and Gas Laser, Ophthalmology, Dermatology, Urology and Cardiovascular) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global market for medical laser systems was valued at USD 909.0 million in 2011 and it is expected to reach an estimated value of USD 2.0 billion in 2018, growing at a CAGR of 12.5% from 2012 to 2018.
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Global aging population and continued rise in age-related eye disorders are some of the major drivers of the global medical laser systems market. Other factors driving the growth of the global market include increasing accessibility of advanced laser treatments to patients around the world and growing importance of aesthetics. Emerging economies such as the BRICS nations (Brazil, Russia, India, China and South Africa) are witnessing a rise in the disposable income of patients leading to better affordability for costly laser treatments. This coupled with unmet medical needs in emerging economies such as China and India will serve the market as future growth opportunities.
In 2011, diode lasers market held the largest share and is expected to maintain its position throughout the forecast period. This position is majorly attributed to their use in an array of medical applications such as photodynamic therapy and numerous aesthetic treatments. Solid state laser segment is expected to grow at the fastest CAGR during 2012 to 2018 as this laser has several variants, each of which finds specific application in medical treatments such as periodontology, tattoo removal, skin treatment and vein removal.
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In the medical laser systems market by applications, the dermatology segment held majority of global market share in 2011, followed closely by the ophthalmology application segment. The market share in both the segments is expected to decrease marginally during the forecast period because of the rise in laser applications in other segments such as cardiovascular, attributed to the increase in prevalence of heart diseases and the development of cost effective treatment techniques.
The North America medical laser systems market held majority of the market share in 2011 at over 35%, owing to the rise in prevalence of chronic diseases such as diabetes and obesity. The Asia-Pacific region is the fastest growing market due to the presence of high growth opportunities in terms of unmet medical needs in emerging economies such as India and China.
Lumenis Ltd. dominated the medical laser systems market followed by PhotoMedex, Inc. and Spectranetics Corporation in 2011. Other major players in the market include BioLase, Inc., Iridex Corporation and others including Novadaq, AngioDynamics Corporation, and Syneron-Candela.
The global medical laser systems market is categorized into the following segments:
Medical Laser Systems Market by Products :
Diode Laser Systems
Solid State Laser Systems
- Holmium Yttrium Aluminum Garnet (Ho:Yag) Lasers
- Erbium Yttrium Aluminum Garnet (Er:Yag) Lasers
- Neodynium Yttrium Aluminum Garnet (Nd:Yag) Lasers
- Potassium Titanyl Phosphate (KTP)
- Alexandrite Lasers
- Ruby Lasers
Gas Laser Systems
- CO2 Lasers
- Argon Lasers
- Krypton Lasers
- Metal Vapor (Cu and Au) Lasers
- Helium-Neon Lasers
- Excimer Lasers
- Dye Laser Systems
Medical Laser Systems Market by Application
- Others (Gastroenterology, Rheumatology, Traumatology)
Microscopy Laser Systems by Geography
- North America
- Rest of the World (RoW)
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