The response to new laser technologies in the medical market has been lukewarm due to their need for huge capital investments and end-users’ reluctance to change devices in a particular clinical setting. Apart from these issues, end users such as physicians will have to be trained in the operating techniques of complicated laser devices.
However, with reduced prices and the numerous applications of laser technologies becoming increasingly apparent, there is likely to be greater public acceptance.
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Laser technologies are being increasingly adopted by hospitals due to their cost effectiveness. They have become so ubiquitous in medical applications that even private medical offices have started deploying lasers for daily use on patients. Laser treatment procedures’ low costs have also enabled spas and beauty salons to install them.
Not only have lasers expanded the scope of cosmetic surgery, they have also revolutionized the way diseases are being diagnosed. Remarkable developments in laser technology in the fields of medicine and surgery have resulted in a greater range of applications.
While researchers are currently focusing on studying microsurgical laser procedures for cutting chromosomes and deoxyribonucleic acid (DNA), lasers have already found use in oncology, ophthalmology, cosmetic surgery, dentistry, cardiology gynecology, gastroenterology, dermatology, urology, and diagnostics.
“In the medical industry, lasers have replaced scalpels and other tools in many surgical procedures,” says Frost & Sullivan Research Analyst A.N. Aditya. “Lasers, lately, have been used to unclog arteries and pulverize gallstones.”
Such overwhelming benefits notwithstanding, the high costs of developing innovative technologies can hinder the product development process, thereby reducing the number of laser devices to be introduced in the market. American markets have overcome this challenge by finding more exciting and unexplored applications for novel technologies.
“The United States, which is the world’s largest and most mature market for lasers, has witnessed the introduction of new technologies and expansion of lasers into new indications,” notes Aditya. “The market revenues in the United States expect to reach $672.4 million in 2009.”
In other regions, market participants can increase their revenue shares through increased penetration in existing markets.
Substantial and extensive benefits of laser technologies have increased their uptake among healthcare practitioners. Significantly, lasers enable minimally invasive procedures, reduced risk of infection and pain, less bleeding and swelling, precision in targeting the affected area, eliminating the need for general anesthesia, and shorter hospital stay, leading to improved patient outcomes.
Advances in Lasers in Imaging and Therapeutic Applications is part of the Technical Insights, Healthcare vertical subscription service. The study offers a broad view of the promising areas for laser applications, with core focus on diagnostic imaging, ophthalmology, dermatology, dentistry, and cardiology. This research service enables companies to align their positioning strategies to benefit from these technologies. Executive summaries and analyst interviews are available to the press.
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