Monday, March 8, 2010

Global Market for Medical Lasers to Be Worth $4.8 Billion In 2014

According to a new technical market research report, MEDICAL LASERS: TECHNOLOGIES AND GLOBAL MARKETS (HLC072A) from BCC Research (, the global market value for medical lasers was an estimated $2.3 billion in 2009, but is expected to increase to nearly $4.8 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 16.1%.

The largest segment of the market, therapeutic medical lasers, is expected to increase at a 5-year CAGR of 13.3%, from $2 billion in 2009 to more than $3.6 billion in 2014

The diagnostic segment is expected to reach a value of nearly $1.2 billion in 2014. The market in 2009 is estimated at $328 million. Thus, the 5-year CAGR is projected to be a healthy 28.9%.

Medical lasers make up a multibillion-dollar global industry. Lasers are used in a wide range of medical applications, from cosmetic procedures to diagnosis and therapy.

The global recession that started in 2008 has had a significant negative impact on the market for medical lasers. Much of the demand for medical lasers comes from elective procedures such as laser-assisted eye surgery, which many consumers are postponing as they tighten their belts in response to the recession.

The longer-term outlook for the medical laser market is much better. Indeed, demand may experience a “bump” as the recession ends and consumers who have postponed elective laser procedures during the recession decide to have them.

Meanwhile, medical laser technology is continuing to evolve. New laser sources with potential medical applications include fiber lasers, light-emitting diodes (LEDs), and organic LEDs (OLEDs). Plastic foils as surface emitters could become important as irradiation sources in photo-dynamic therapy (PDT). Also, the spread of new laser applications such as nanosurgery, OCT, and sophisticated fluorescence microscopy will stimulate the growth of the market.

The overall goal of this study is to provide the reader with an understanding of the technological, economic, and regulatory forces that will influence the future size and structure of the market for medical lasers.

The report is intended especially for vendors of medical lasers, as well as government agencies, healthcare policy analysts, and others seeking to understand the medical applications of laser technologies. Although the report focuses on specific technologies, it is largely non-technical in nature. As such, the report’s main audience is executive management, marketing, and financial analysts.

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