US Laser, Light and Energy Device Market to See Strong Growth to $424
Million by 2017
According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States laser, light and energy device market will grow at a strong pace through 2017, as multiapplication systems and handpieces are increasingly adopted, particularly by new physician types looking to increase revenues in their practices by marketing these procedures to their existing base of customers. The overall market will grow to nearly $424 million by 2017.
Dermatologists and plastic surgeons have traditionally been the primary purchasers of these devices. Increasing patient demand for procedures, particularly skin tightening, tattoo removal and onychomycosis (nail fungus) treatment, has led a variety of physicians to purchase systems. There are few regulations in the US preventing physicians from practicing outside their specialty fields, and many of these procedures are not technically difficult. As a result, a variety of noncore physicians, including family practitioners, gynecologists and podiatrists have been purchasing systems and performing these procedures.
In recent years, there have been a significant number of mergers and acquisitions in this market. Major competitors like Syneron, Solta Medical, and Cynosure have all made strategic acquisitions in recent years in attempts to improve market share. The large number of mergers and acquisitions in the market has resulted in significant changes to the competitive landscape.
“Going forward, replacement sales of single-application and multiapplication systems will make up a larger percentage of total sales,” said MRG Analyst Jeremy Seath. “As a result, competitors will be forced to find ways to encourage clinicians to purchase new systems. Providing new indications for laser, light, and energy devices remains one of the most effective means of doing so. For example, a number of devices on the market have been approved for the treatment of onychomycosis in the past few years, making these devices attractive to a broader customer base, particularly podiatrists.”
Millennium Research Group’s US Markets for Laser, Light, and Energy Devices 2013 report includes unit, installed base, average selling price and revenue information, along with market drivers and limiters and competitive landscape for multiapplication systems, single-application systems, handpieces and consumable tips (qualitative discussion only) sold in the United States.
About Millennium Research Group
Millennium Research Group (www.MRG.net ), a Decision Resources Group company (www.DecisionResourcesGroup.com ), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group
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