North America and Asia Pacific Top Performers in Global Medical Laser Systems Market, to be Most Innovative
Laser entails light amplification by the emission of radiation and it holds certain desirable properties such as coherence, high monochromaticity, and directionality. Lasers, as a tool, are primarily used for surgeries and the diagnosis of medical conditions. Some of the popularly used types of medical laser systems are solid state lasers, dye lasers, gas lasers, and diode lasers.
Surgical procedures, especially in Europe, have taken a back seat to the non-surgical, anti-aging, minimally invasive treatments. In the case of dermatology and skincare, the entire focus has shifted from conventional treatments to advanced technologies. Today, physicians treat skin for uniformity and compactness, which is accomplished via next-generation, technically advanced, and innovative laser treatments. This has resulted in the increased demand for medical laser systems across the globe, thus expected to boost the global medical laser systems market in the years to come.
Increasing Occurrence of Chronic Diseases to Drive North America Medical Laser Systems Market
The global medical laser systems market is expected to expand at a 12.50% CAGR during the period from 2012 to 2018, predicted to progress from US$0.9 bn in 2011 to US$2 bn by 2018. The global medical laser systems market is driven primarily by factors such as the rise in age-related ophthalmic disorders, an increase in disposable income in emerging countries, and the rising awareness of medical aesthetics. The global medical laser systems market is segmented on the basis of geography, application, and product. Based on geography, the global medical laser systems market is divided into Asia Pacific, Europe, North America, and Rest of the World. In 2011, in terms of market share, the global medical laser systems market was dominated by North America.
The global medical laser systems market is driven by North America owing to the rising occurrence of chronic diseases such as obesity and diabetes. The high level of unmet medical needs across North America is predicted to further drive the North America medical laser systems market.
China’s Medical Laser Systems Market to be Lucrative in Asia Pacific
Asia Pacific is expected to be benefitted by the rising contribution from China’s medical laser systems market in the years to come. The introduction of new medical laser systems by leading players in nations such as China and India is predicted to create new growth opportunities in the Asia Pacific medical laser systems market.
After years of development, China’s medical laser systems market has become a high-tech space competing on the global level. Industrial laser developments in Wuhan Optical Valley, China have been remarkable lately. Domestic medical laser system manufacturers have targeted various areas in China including Beijing, Shanghai, Hubei, and Shenzhen to boost sales. The medical laser systems industry in Hubei has developed with a strong competitive advantage. With welding, laser cutting, surface treatment equipment, and other medical laser devices, Hubei was recently named as the base city for laser research.
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The holmium yttrium aluminum garnet laser systems segment is predicted to expand at a 16.0% CAGR during the period from 2012 to 2018. It finds medical applications in urology, dermatology, and cardiology. The rising demand for cosmetic procedures including tattoo removal, pigment lesion, and temporary hair removal is predicted to contribute towards the growth of the global medical laser systems market.