Billion Dollar Industry!
Date: August 8th, 2011
Global Medical Laser Systems Market to Reach US$4.6 Billion by 2015, According to New Report by Global Industry Analysts, Inc.
The Medical laser systems market is expanding at a steady rate worldwide. Currently, lasers are being extensively employed for diagnosis and treatment of a number of diseases, which hitherto were difficult to treat using traditional medicine. Lasers now offer wide applications in ophthalmology, oncology, cosmetic surgery, cardiology, dentistry, gynecology, dermatology, gastroenterology, diagnostics, and urology. They form an important part of several medical equipments currently available in the market. Lasers required for cosmetic surgery such as skin resurfacing, tattoo and hair removal among others are very popular, especially in developed countries. Use of lasers in the treatment of skin wrinkles and cellulite is increasing, driving the overall aesthetic lasers market.
As stated by the new market research report on medical laser systems, the United States stands as the single most dominant global market for medical laser systems, trailed by Europe and Japan at the second and third positions, respectively. Together, the US and Europe account for a consolidated share of more than 80% of the world The global economic slowdown significantly impacted the sales of aesthetic, surgical and ophthalmic lasers . Developing markets such as Asia-Pacific and Latin America are likely to race ahead of the other world markets by the year 2015. Overall demand for medical laser systems declined during the recession period owing to the expensive nature of laser-based procedures compared to their elective counterparts. However, laser based cosmetic surgeries continued to be in regular demand in the US despite the economic slowdown. The trend is a reflection on the significance placed on physical appearance, as well as reimbursement of such surgeries by insurance providers.
The medical laser systems market is highly competitive and price sensitive. Market and technology leaders in the laser industry include established players having differentiated and unique products.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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