Medical lasers have long been used to diagnose and treat different medical conditions in the areas of dermatology, ophthalmology, dentistry, gynecology, cardiovascular studies and urology. Regarded as a boon in the healthcare sector, semiconductor laser treatment systems are being extensively used for medical diagnosis, cosmetic procedures, and therapies. These systems generate a highly concentrated monochromatic beam of light with a particular wavelength. Given semiconductor lasers’ wide range of applications in the healthcare sector, the global share of the semiconductor laser treatment market stood at around $3 billion in 2015. According to the analysts at Technavio, the market will grow at a CAGR of 11% during the forecast period.
Applications of semiconductor laser treatment
Surgical segment
As lasers help focus on a small area, they are widely used in cases that require precise surgical work. Laser therapy is often used to treat cancer through a high intensity of light that either minimizes or eradicates tumor cells. Therefore, laser therapy is often combined with surgery, radiation, and chemotherapy to treat cancer patients. Lasers are also used to seal nerve endings to minimize post-surgical pain. Due to the involvement of research scientists and engineers in research and development, the application area of surgical lasers has broadened. Laser surgery for the treatment of eye-related issues such as glaucoma is the most prevalent use of surgical lasers at present. These lasers produce a concentrated beam of light that is capable of making a small opening on the tissue surface of the eye.
Ophthalmic segment
With the increasing trend of LASIK surgery among young adults, popularity of femtosecond lasers for cataract surgeries, and more strategic alliances between vendors, the ophthalmic segment has emerged as a prominent user of semiconductor lasers. Ophthalmic lasers are used to treat a variety of eye conditions such as tumors, glaucoma, age-related macular degeneration, diabetic retinopathy, retinal disorders, cataracts, and other vision problems. These devices are highly accurate and precise. Laser surgery allows patients to avoid a hospital stay and extended recovery time. In addition, the risk of infection is minimal in laser surgeries.
At the same time, the growth of this market is limited by complications, the hazards of laser technology, and a lack of reimbursement for such procedures in emerging economies. The availability of pharmaceutical treatment also poses a potential threat to laser-based treatment, as most ophthalmologists recommend the traditional pharma-based treatments.
Aesthetics segment
Valued at $1.24 billion in 2015, the aesthetics segment of the healthcare market is expected to reach $2.4 billion by 2020, primarily due to an increase in the number of aesthetic procedures such as laser skin resurfacing. Laser-based aesthetic devices are becoming increasingly popular among patients and physicians for a range of applications such as pigmentary treatments, acne and rejuvenation applications, and skin tightening. The strengthening research on treatment and an increase in the number of cosmetic procedures are driving demand. In 2015, the United States was the largest market for medical aesthetic procedures, followed by Brazil.
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