For any surgical specialist in the healthcare industry, surgical lasers are essential tools that are used in both human and veterinary medicine. Surgical laser is mainly used in the treatment of chronic disorders as well as therapies including photodynamic, laser-assisted procedures, photomedicine, and light therapy. This pathbreaking technology has gained immense traction in the past decade. The widespread adoption of the surgical laser has improved the efficacy of an array of procedures through the replacement of electrosurgical and scalpels pieces, benefiting both patients and surgeons.
Now and the future : Risks associated with laser surgery
Despite the long-ranging adoption of surgical lasers, there are some restraints that hinder the growth of the associated industry. Firstly, laser devices emit hazardous radiation that can have serious effects not only on patients but also the assisting physicians and operators, that could potentially lead to illness and death. Other risks include change in skin color and the disposition for the herpes infection.
Secondly, despite amendment for medical devices and pharmaceuticals, developed countries such as the US, UK, Germany, France, and Japan do not have appropriate reimbursement policies for many surgical procedures, especially where laser technology is involved. This lack of proper insurance coverage makes it difficult for vendors to increase their market share. Thus, the market will continue to shrink, limiting the use of various surgical laser systems.
Another challenge is the stringent regulatory approval required for laser devices. These devices must demonstrate medical efficacy before they are approved and must also comply with other medical device regulations. Thus, stringent government regulations in different countries will hamper the growth of the global surgical lasers market.
Lastly, these surgical laser systems are expensive and classified as capital equipment by the healthcare industry. Procurement of these devices involves various qualifying procedures and budget allocation considerations before the final buying decision is made. In addition to this, the after-purchase maintenance cost is also a major restraint for buyers.
Market insights help vendors reposition and charge
In response to the hyper competition in the global surgical lasers market, successful companies have responded by repositioning themselves, re-strategizing and building new layers of capability with the use of market research.
In this regard, Technavio’s market research reports offer a major option for companies to enhance and amplify their business in a competitive environment. The report provides in-depth analysis of various significant aspects of the industry including key drivers, trends, challenges as well as present and future market prospects, both perceptible and latent.
