Innovative product development has driven the rapid growth of the European medical lasers markets over the past few years. Despite novel lasers widening the application base, challenges such as shrinking health care budgets and heavy pricing pressure remain.
Frost & Sullivan (medicaldevices.frost.com) finds that the European Markets for Medical Lasers earned revenues of $329.0 million in 2006 and estimates this to reach $862.0 million in 2013.
"Rising demand for medical procedures that reduce treatment and recovery times has led to the advent of minimally invasive surgeries, where medical lasers occupy a central role," says Frost & Sullivan Research Analyst Sowmya Rajagopalan. "Lasers have assisted in many complicated cases where surgery would have been of no use and, as a result, have found widespread application across the medical spectrum."
Medical lasers have become indispensable in the field of urology, aesthetic surgery, ophthalmology and cardiology. They offer the best tools to treat complex cases that affect difficult-to-access parts of the human body.
Greater cost-effectiveness also underlies the rising appeal of medical lasers. Total costs related to the use of medical lasers are often lower than alternative treatments.
However, due to the relative newness of medical lasers, patients are often unaware of their application in areas where they might be very effective, such as urology. Vendors should take the initiative to increase patient awareness levels about medical lasers and their diverse applications to impel growth. Moreover, due to their use in life-saving treatments, substantial clinical trials and studies will be required to prove the credibility and reliability of medical lasers.
"Industry participants should increase their investments in R&D to develop high quality, innovative and advanced products with varied applications," concludes Ms. Rajagopalan. "Successful marketing will require unique strategies to effectively position product offerings and boost revenues."
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the European Markets for Medical Lasers, send an email to Lakshmi.K.S - Corporate Communications at lakshmiks[.]frost.com with your full name, company name, title, telephone number, email address, city, state, and country. We will send you the information through email upon receipt of the above information.
European Markets for Medical Lasers is a part of the Medical Devices Subscription, which also includes research in the following markets: European Market for Catheters and Guidewires for Angioplasty and Angiography, Opportunities and Scope for the European Therapeutic Hypothermia Devices Market, European Market for Orthopaedic Implants and European Markets for Wound Debridement. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.