Medical Laser Systems Market Key Trends in terms of volume and value 2016-2020

Medical lasers or laser medicine is the application of amplified light focused on the body to treat cancer, tattoo removal, cosmetic excision procedures, lithotripsy -kidney stone treatment, prostatectomy, plastic surgeries, ophthalmology or LASIK surgeries and angioplasty among several other applications. Based on the type of device, a medical laser system emits a variety of monochromatic light with a specific wavelength that is focused and amplified in order to achieve the level of energy required in ablation or excision of tissue. The light energy can also be used for other applications such as phototherapy that is used in treatment of diseases such as eczema and psoriasis.

There are several types of medical laser systems available on the market today. Conventional CO2 lasers are still considered one of the most useful options and are used in cosmetic surgeries. CO2 lasers are very compatible as body fluids absorb the frequency very well. Diode lasers are the most commonly used among all types of lasers; they currently have a very large medical application and are used in dental, ophthalmology, hair removal and photodynamic therapy. Diode lasers are also used in diagnostics to a significant degree for breast cancer screening through computed tomography. Other commonly used lasers are excimer lasers, fiber lasers and free electron lasers. Solid state lasers that use a solid medium such as neodymium doped yttrium aluminium garnet or Nd:YAG are also popular in medical applications such as hair removal, ophthalmology, skin cancer and scar reduction. In recent applications the laser is also used for treating onychomycosis, which is fungus infection of the toenail. Pico and femtosecond lasers currently represent the pinnacle in laser medicine technology and are used for treating optical disorders such as cataract.

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The laser market in medicine represents approximately 10% of the global lasers market. Due to a greater market penetration of laser systems in emerging countries, the market is expected to grow significantly in coming years. Cataract is a disease that affects nearly 25 million people as of 2015 and can be avoided with laser treatment, however due to lack of amenities in several poorly developing countries several thousand people go blind each year. Since aging is one of the primary factors for cataract, the aging population is also serving as a strong growth driver for the market. Cosmetic procedures for liposuction using lasers such as Zerona are in considerable demand within North America, parts of Europe and Japan. Due to largely unregulated reimbursement channels, the cosmetic industry may be destabilized in North America, however with the advent of a strong affordable medical tourism market in Caribbean, South-East Asia and BRIC regions laser procedures are expected to grow with a profound rate in coming years.

Due to a highly fragmented semiconductor and electronics industry, the market for diode lasers is highly fragmented, complicated further by the fact that components of laser systems are extremely flexible and used in a variety of different applications. This report focuses on six regions that encompass the global market namely, North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa. North America and Asia-Pacific are the leaders in medical lasers holding approximate shares of 32% and 23% respectively. Slow growth in Europe and economic crises is expected to have crippled manufacturers in several countries. Key players in this market are AngioDynamics, IRIDEX, Lumenis, Photomedex, Spectranetics, Syneron Medical, A.R.C. LASER, Coherent, Cutera, Cynosure, Dornier MedTech, Ellman International, Medelux, Palomar, Quanta System and Sunny Optoelectronic Technology.

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