Industry Analysis & Industry Trends
Medical lasers are used for a variety of procedures, from dental work to skin rejuvenation. As the recession reduced disposable incomes and led to slashed hospital budgets, customers of laser manufacturers slowed purchases, yielding reduced revenue in 2009. The industry has rebounded since and is expected to continue growing into the next five years as lasers become more widely accepted and become increasingly useful, cost-effective and portable.... purchase to read more
Industry Report - Starting a New Business Chapter
There are several barriers that deter entry to this industry, including heavy regulation, moderate capital investment requirements, a high level of competition and a fast rate of technological change. In this industry, most goods are manufactured under patent. This acts as a barrier to entry into certain markets. Competition within the industry and a high degree of product specialization requires significant investment in research and development (R&D). The average medical laser machine manufacturer will spend about 6.5% of its revenue on R&D costs. As the markets for several products become saturated, the importance of innovation (and, therefore, the cost of R&D) is expected to increase and further deter new entrants.
Government policy is another barrier for new entrants... purchase to read more