Laser Probe Market Insights
As
per the study published by Market Research Future (MRFR), the global
laser probe market is ready to pose a CAGR of 9.11% for its development
during the forecast period 2018 to 2023. The market is on the verge of
achieving a valuation of USD 1560.76 Mn by the end of 2023. The approach
to the growth of the market is attributed to the developments in the
laser probe technology that have paved ways across a broad spectrum of
applications. Also, investments directed towards technological
innovations are prognosticated to enhance the growth trajectory of the
market.
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Market Drivers & Trends
The
growth trajectory of the global laser probe market is mainly attributed
to the factors such as the rising burden of chronic diseases such as
diabetic retinopathy, non-melanoma skin cancer, barrette’s esophagus,
prostate cancer, and more. The expansion of the market has also been
encouraged by the governments and key players to accelerate research and
funding. This has likely to have a positive influence on the expansion
of the laser probe market over the next couple of years.
Furthermore,
factors such as the improvements introduced in the reimbursement
protocols have unleashed promising opportunities and are assumed to lead
the growth of the market in the foreseeable future. On the other hand,
more factors such as the escalating prevalence of chronic diseases, an
increasing number of cataract and glaucoma surgeries, and growing number
of medical emergencies are likely to compel the development of the
global laser probe market.
On
the flip side, the ease of use of alternative diagnostic techniques is
reported to remain as an obstacle to the expansion of the global Probemarket .
Market Segmentation
The global laser probe market has been segmented into product type, probe type, application, and end-user.
In terms of product type, the market has been segmented into, continuous-Wave (CW) Laser Probe and pulse laser probe.
In terms of probe type, the market has been divided into a single laser probe and cluster laser probe.
By application, ophthalmology, dermatology, rheumatology, orthopedics, dentistry are the segments.
By end-user, the segments are tertiary hospitals and clinics.
Regional Outlook
A
comprehensive geographical analysis of the global laser probe market
spans across the Americas, Europe, Asia Pacific, and the Middle East
& Africa.
North
America and Latin America collectively command the most leading share
of the global laser probe market with the increasing prevalence of
diseases such as cataract and arthritis and the rising demand for
aesthetics are sustaining the expanding market share in these regions.
As per the American Society for Nutrition, in 2016, around 47% of the
adults in the US suffered periodontal disease. In the equivalent years,
586,662 minimally-invasive cosmetic procedures were performed for laser
skin resurfacing. The region will remain a substantial destination for
market players throughout the assessment period.
Companies Covered
The
prominent players working in the global laser probe market are Alcon
(Novartis), Bausch & Lomb Incorporated, FCI, Omega Laser Systems
Limited, Reimers & Janssen GmbH, ADInstruments, Transonic Systems
Inc., Lumenis, OphthalMed LLC, Vitreq, Iridex Corporation, and Quantel
Medical.
1 Report Prologue
2 Market Introduction
2.1 Scope of Study 16
2.2 Research Objective 16
2.3 List of Assumptions 16
2.4 Market Structure 17
3 Research Methodology
3.1 Research Process 19
3.2 Primary Research 20
3.3 Secondary Research 21
3.4 Market Size Estimation 22
3.5 Forecast Model 22
4 Market Dynamics
4.1 Introduction 24
4.2 Drivers 25
4.2.1 Increasing prevalence of chronic diseases 25
4.2.2 Increasing number of cataract and glaucoma surgeries 25
4.2.3 Increasing number of medical emergencies 25
4.3 Restraints 26
4.3.1 Availability of alternative diagnostic techniques 26
4.3.2 Lack of technological and social awareness 26
4.4 Opportunities 26
4.4.1 Improvement in the reimbursement scenario 26
5 Market Factor Analysis
5.1 Porter’s Five Force Analysis 29
5.1.1 Bargaining power of suppliers 29
5.1.2 Bargaining power of buyers 29
5.1.3 Threat of new entrants 30
5.1.4 Threat of substitutes 30
5.1.5 Degree of rivalry 30
5.2 Value Chain Analysis 30
5.2.1 Raw Material 31
5.2.2 Supplier 31
5.2.3 Manufacturer 32
5.2.4 Distributor 32
5.2.5 Customer 32
5.2.6 Consumer 33
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