Key Driver Analysis of Medical laser technology Market Competitor Analysis by Lumenis, Spectranetics, NOVADAQ, AngioDynamics, Iridex, Alcon

North America occupies the largest market for medical laser technology, followed by Europe. This is due to the advancements in medical laser technologies, rising elderly population, increasing prevalence of eye diseases, rise in incidences of chronic diseases, and improved health care infrastructure in the region. The medical laser technology market in Asia is also expected to experience high growth rate in the next few years. Medical laser technology generates a specific wavelength and strong beam of light. It is used in applications such as cosmetic, diagnostic, surgical, and therapeutic. Besides, the technology is used in various areas such as ophthalmology, dermatology, urology, and cardiovascular diseases. Increasing eye related diseases and rising aging population are some of the major factors driving the growth of the global medical laser technology market.

Increasing number of mergers and acquisitions and rapid product launches are some of the latest trends that have been observed in the global medical laser technology market. Some of the major companies operating in the global medical laser technology market are Lumenis Ltd., PhotoMedex Inc., Spectranetics Corporation, BIOLASE, Inc., Iridex Corporation, Novadaq Technologies Inc., AngioDynamics Corp., Syneron Medical Ltd, IRIDEX Corporation, Alcon Laboratories, Inc., Cardiogenesis Corporation, American Medical Systems, Inc., and Bausch & Lomb Holdings, Inc.

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Medical laser system exists in several forms and its major types include diode laser system, solid state laser system, dye laser system, and gas laser system. Diode laser systems are used in numerous aesthetic treatments. Solid state laser systems are used in tattoo removal, dentistry, treatment of vein related diseases, and skin treatment. Dye laser systems are used to treat vascular lesions such as red spots and marks on skin. The gas laser system includes the argon gas laser, which is used in the treatment of ulcers, lesions, and polyps. Meanwhile, the carbon dioxide laser is used to treat certain skin conditions such as hirsuties papillaris genitalis.

The global medical laser technology market is categorized based on product types, diseases, and applications. Based on product types, the report covers solid state laser systems, diode laser systems, dye laser systems, and gas laser systems. Based on diseases, the market covers areas such as ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others. Based on the application, the market covers cosmetic, diagnostic, surgical, and therapeutic applications.

Increasing prevalence of eye disorders and growing aging population are some of the major driving factors for the global medical laser technology market. Moreover, advancement in medical laser technologies, increasing number of patients using advanced laser-based treatments, rising awareness about the use of laser treatment in various diseases such as skin diseases, eye diseases, diabetes, and cancer; and the availability of cost-effective laser based medical treatment are also supporting the growth of the global medical laser technology market. However, strict laser protection rules inhibit the growth of this market.

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This is due to the increasing aging population, rising awareness about therapeutic applications of medical lasers in various chronic diseases, increasing disposable income, developing health care infrastructure, increasing prevalence of eye diseases, and growing demand for laser treatment in the region. In addition, rising demographics and economies in developing countries, such as India and China, is expected to lead to the growth in the medical laser technology market in Asia.

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