LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global medical laser systems market report. This research report also lists 42 other prominent vendors that are expected to impact the market during the forecast period.
The market is expected to grow at a rapid pace with the increase in older adult population and the rise in cardiovascular diseases, diabetes, eye disorders, and obesity-related diseases that have elevated the risk associated with chronic diseases. Other risks include genetic predisposition and underlying health conditions like chronic kidney diseases, thyroid problems, diabetes, sleep apnea, and tumors.
Competitive vendor landscape
The global medical laser systems market is highly competitive with the presence of many vendors including niche vendors from across the globe. The market is characterized by the presence of well diversified international and local vendors. Alcon, IRIDEX, Cynosure, Lumenis, and Syneron Medical are currently dominating the market. Many vendors in the market are adopting the strategy of product bundling, which includes combining two or more products or services.
“Vendors are investing in emerging technologies for developing advanced treatments, and laser-based alternatives for wrinkle reduction, scar therapy, removal of localized fat deposits, and alopecia treatment,” says Barath Palada, a lead orthopedics and medical devices analyst from Technavio.
Emerging countries represent huge opportunities for both global and local vendors. The market has numerous opportunities to grow during the forecast period especially in emerging countries such as India, China, South Korea, Thailand, Brazil, and Eastern and Central European countries.
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Top five medical laser systems market vendors
Alcon’s surgical segment contains technologies and devices for cataract, glaucoma, retinal, and refractive surgery. It also provides advanced technology intraocular lenses to treat cataracts and refractive errors that include presbyopia and astigmatism. The company also provides surgical solutions, surgical packs, advanced viscoelastic, and other disposable products for cataract and vitreoretinal surgery.
Cynosure manufactures and markets aesthetic treatment systems for plastic surgeons, dermatologists, and other medical practitioners. Its systems are used to perform non-invasive and minimally invasive procedures to remove hair, treat vascular and benign pigmented lesions, remove multi-colored tattoos, revitalize the skin, and remove unwanted fat through laser lipolysis.
Iridex develops, manufactures, markets, and services medical laser systems and related instrumentation across the world, for the treatment of eye diseases that carry the risk of loss of vision. The company conducts its business through only one segment; Ophthalmology.
Lumenis manufactures and markets a broad range of minimally invasive clinical solutions for ophthalmology, aesthetic, and surgical markets. Its innovative energy-based technologies include Laser, Intense Pulsed Light, and Radio-Frequency. In July 2015, the company's LightSheer DESIRE, a new laser hair removal system, received the Core 77 design award at the Core77 Design Awards ceremony.
In November 2015, Syneron Medical partnered with Cosmetic Laser Solutions MedSpa to market UltraShape, a fat reduction technology, in Wilmington, Massachusetts, Stoneham, Massachusetts and Pawtucket, Rhode Island in the US.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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