Laser Therapy Market

Laser Therapy Market expected to reach US$ 3,514.02 million by 2027 it is estimated to grow at a CAGR of 9.9%

NEW YORK, UNITED STATES, January 20, 2022 /EINPresswire.com/ -- The laser therapy market is expected to reach US$ 3,514.02 million by 2027 from US$ 1,665.65 million in 2019; it is estimated to grow at a CAGR of 9.9% from 2020 to 2027.

Laser therapy is a noninvasive medical procedure that uses light of a specific wavelength to remove tumors or abnormal growth, treat hair conditions, remove kidney stones, and repair detached retina, among others. Laser therapy is considered as an advanced aspect of medical therapeutics. In medicine, laser allows surgeons to work at high precision level by focusing on definite area. This process involves less damage to the target compared with the traditional methods of surgery. The process of laser therapy is however costly and may require repetitive visits to surgeons.

Strategic Insights:

Report Coverage (Details)
Market Size Value in US$ 1,665.65 million in 2019
Market Size Value by US$ 3,514.02 million by 2027
Growth Rate CAGR of 9.9% from 2020 to 2027
Forecast Period 2019-2027
Base Year 2019
No. of Pages 180
No. Tables 95
No. of Charts & Figures 70
Segments covered by Type, Application, End User, and Geography
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Growing Product Launches

Various medical device manufacturers and start-ups are introducing latest technologies in the Laser Therapy market. The availability of various advanced products in the market allows medical professionals to improve patients’ health by enhancing their treatment efficiency. For instance, in February 2020, IRIDEX Corporation, a manufacturer of ophthalmic laser-based medical products, launched an upgraded second-generation version of MicroPulse P3 Device to treat glaucoma, and the upgrades made to the device is expected to substantially reduce intraocular pressure suitable for glaucoma patients without incisions.

Similarly, in January 2019, Gaksung Company Ltd, a South Korean company, launched its product Champ Beam in the Indian market. The laser beams penetrate deep inside the body and help in improving the life cycle of cells by regulating blood flow and removing toxins from the blood vessels. In addition, the rising trend of fitness and beauty has increased the demand for beauty devices. Therefore, technological advancements have encouraged several companies to innovate devices that promote healthy skin. For instance, Belle51, a Los Angeles-based company, launched its laser-based device—Solèy—in June 2019. The device is designed for home care and can be easily used to remove dark spots, melasma, unwanted moles, stretch marks, and acne scars. The device is available for sales in the US and is distributed globally. Such products launches are expected to continue to drive the market growth during the forecast period.

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

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The diode laser segment held the largest share of the laser therapy market, based on type, in 2019, and it is expected to register the highest CAGR during the forecast period. This expected lucrative growth of the market for laser diodes is attributed to rapid adoption of these devices in photodynamic treatments and aesthetic procedures. Additionally, the diode laser devices are effectively used for treating conditions such as incision, hemostasis, and coagulation. Moreover, the use of this type of laser devices involves minimal swelling, scarring, and postsurgical pain.

The global laser therapy market, based on application was segmented into dermatology and aesthetics, dental, ophthalmology, urology, cardiovascular, oncology, and other applications. The dermatology and aesthetics segment held the highest share of the laser therapy market in 2019, by application. However, the market for the ophthalmology segment is anticipated to witness a significant CAGR during the forecast period.

The global laser therapy Market, based on end user,is segmented into hospitals and specialized clinics, ambulatory surgical centers, and others. In 2019, the specialized clinics segment held the largest share of the market, and it is also expected to register the highest CAGR during 2020–2027.

Laser Therapy Market: Competitive Landscape and Key Developments

Alma Lasers, Coherent, Inc., biolitec Group, BIOLASE, Inc., IPG Photonics Corporation, Boston Scientific Corporation, BTL, Meditech International Inc (BIOFLEX Laser Therapy), Baring Private Equity Asia Ltd (Lumenis), Cutera

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Sameer Joshi
The Insight Partners
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