Frost: Minimally-Invasive Surgeries Drive Innovation, Growth in Medical Lasers Markets
April 23, 2007 // Published as a news service by IHS
| |
| Medical Device Documents |
IHS medical device standards collections contain EU Directives and Harmonized Standards from the Official Journal of the European Union.
Complete this form for a free quote. |
|
| |
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, analysts said the challenges of shrinking health care budgets and heavy pricing pressure remain.
Recent analysis from Frost & Sullivan of the European markets for medical lasers found earned revenues of $329.0M in 2006, with estimates to reach $862.0M 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," said 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."
Analysts said medical lasers have become indispensable in the field of urology, aesthetic surgery, ophthalmology and cardiology, where they offer the best tools to treat complex cases that affect parts of the human body that are difficult to access.
Greater cost-effectiveness also underlies the rising appeal of medical lasers. Analysts said 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. Analysts said vendors should take the initiative to increase patient awareness levels about medical lasers and their diverse applications to impel growth.
Also, 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," said Rajagopalan. "Successful marketing will require unique strategies to effectively position product offerings and boost revenues."
Source: Frost & Sullivan.