The medical laser system market is growing at a considerable rate, due to increased awareness of medical aesthetics, growing number of patients using advanced laser based treatments, and rapid rise in age related ophthalmic disorders.
Rise in disposable incomes in developing economies and increased demand for laser treatment in emerging economies have provided ample opportunities to the growth of medical laser system market to grow in the coming years.
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North America leads the medical laser system market, due to the rising incidences of chronic diseases such as diabetes and obesity. Asia-Pacific is growing with the highest rate, due to unaddressed need for medical treatment in developing countries such as, India and China in the region.
Medical Laser Systems are used to produce a monochromatic beam of light containing a specific wavelength and it is strongly concentrated. The demand for lasers in the field of medicine is rising rapidly, due to the flexibility of its light.
Power, pulsed or continuous wave operation, and wavelength of laser, define the characteristics of laser light.
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Technology advancement, prevalence of chronic diseases and growing importance of aesthetics are some of the major factors driving the growth of medical laser system market. Some of the factors restraining the growth of the medical laser system market are high failure rates, compliance with stringent safety regulations and implementation of affordable care act in the U.S.
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Meeting the need for laser treatment globally in several applications such as, cardiovascular diseases, dermatology diseases, and technological advancements are the key strategies for the competitors in the medical laser system market. Some of the major competitors in the medical laser system market are Cardiogenesis Corporation, Bausch & Lomb Holdings, Inc., Photomedex, Inc., IRIDEX Corp., American Medical Systems, Inc., Syneron Medical Ltd., Lumenis Ltd., Alcon Laboratories, Spectranetics Corporation, Inc., and Biolase Inc.
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