Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) report "Medical Laser Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018" delivers key insights on the global medical laser systems market. According to this TMR report, the global medical laser systems market stood at US$909.0 million in 2011 and with a healthy CAGR of 12.5%, the market will be worth US$2.0 billion by 2018.Though, there are many factors driving the global medical laser systems market, there are multiple factors restraining it too. Factors such rapid rise in age-related ophthalmic disorders and accelerating awareness about medical aesthetics are driving the global medical laser systems market. On the other hand, factors such as high failure rates, compliance with stringent safety regulations, and implementation of affordable care act in the U.S. are suppressing growth in the global medical laser systems market.
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The global medical laser systems market is segmented on the basis of products, application, and geography. Medical laser systems find their applications in dermatology, urology, ophthalmology, dentistry, gynecology, cardiovascular, rheumatology, gastroenterology, and traumatology.Among the several product types, the diode laser segment held the largest market share in 2011 and is anticipated to maintain its leading position during the forecast horizon. This can be attributed to the fact that these lasers are used for a wide range of medical applications such as photodynamic therapy and aesthetic treatments.
Alternatively, the solid state laser segment in the global medical laser systems market will exhibit fastest growth during the forecast period due to its increasing application in several medical sectors. Furthermore, the sub-segment in the solid state laser systems called holmium yttrium aluminum garnet (Ho:Yag) lasers will demonstrate the fastest CAGR of over 16% during the forecast period.Geographically, the BRICS nations are showcasing a continuous rise in their disposable incomes, which will fuel the growth of this regional medical laser systems market. Additionally, unmet medical needs in nations such as China and India will provide a good growth opportunity for this regional market. Nevertheless, North America is the regional leader in the global medical laser systems market, followed by Europe. North America held over 35% share of the global medical laser systems market in 2011, attributed by the growing prevalence of chronic conditions such as diabetes and obesity in this region.
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The key players in the global medical laser systems market are Lumenis, IRIDEX, Photomedex, Syneron-Candela, Angiodynamics, Biolase, Novadaq, Bausch & Lomb, American Medical Systems, etc. "The growing numbers of approvals for medical laser systems are changing the dynamics rapidly, which will further support the market growth", commented a TMR analyst. In April 2015, USFDA cleared the Synchro REPLA:Y® family of Laser Systems from DEKA M.E.L.A. During the same month, USFDA also approved Syneron's PicoWay picoseconds laser.
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