USD 1.92 billion
Report ID: SQSG35B2027 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 100 | Figures: 76
Laser Therapy Devices Market size was valued at USD 1.92 billion in 2021 and is poised to grow from USD 2 billion in 2022 to USD 2.84 billion by 2030, growing at a CAGR of 4.01% in the forecast period (2023-2030).
Laser therapy is a medical treatment that involves the implementation of low- and high-level beams to the body's surface to treat issues such as body pain, leukemia symptomatology, kidney problems, and cancers. LASER is an acronym that stands for light amplification by stimulated emitted radiations. Laser treatment employs the photo biomodulation mechanism, in which photons enter and interact with tissue. This interaction increases cellular metabolism and aids in the reduction of pain and inflammation throughout the body. Laser therapies are used in a variety of fields, including surgical procedures, dental procedures, and astigmatism eye surgery, among others. Aside from these, laser therapy can be applied to any part of the body.
Increasing consumer priority for inventive and non-invasive laser-based technologies will boost global demand for laser therapies. The growing geriatric population will boost demand for this technology, which helps to alleviate inflammation and pain in the body. Rising eye disorders will also support the growth of the laser therapy market. Increased personal disposable income and the demand for cosmetic surgeries will create even more lucrative opportunities for the laser therapy market to grow. However, the high costs of maintenance and installation of advanced technologies will limit the market growth. Furthermore, the government's stringent regulations on the acquisition and installation of technology will slow the market's growth rate. The high failure rate of laser-based surgical procedures, combined with the adverse effects of undergoing laser therapy, will further stymie market growth.
US Laser Therapy Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.92 billion
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The Global Laser Therapy Devices market is segmented based on Type, End-Use, Application, and Region. Based on type, the Laser Therapy Devices Market is segmented into Diode Lasers, Solid State Lasers, Liquid Lasers, Semiconductor Lasers, Gas Lasers, Dye Lasers, and Others. Based on End-Use, the Laser Therapy Devices Market is segmented into Hospitals, Ambulatory Surgical Centres, and Home Healthcare. Based on Application, the Laser Therapy Devices Market is segmented into Dermatology and Aesthetics, Surgery, Gynaecology, Dental, Urology, Ophthalmology, Cardiovascular, and Others. Based on region the global Laser Therapy Devices market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Laser Therapy Devices Market Analysis by End-Use
Due to the growing number of multispecialty and community hospitals, particularly in emerging markets, hospital has held the largest market share in 2021. The growing emphasis on improving healthcare and hospital infrastructure, particularly in developing countries, is expected to drive demand for medical lasers in these settings. The emergence of multi-specialty hospitals that provide a wide range of services as well as adequate reimbursement policies are attracting a large patient pool to these settings. This, combined with technologically advanced systems by hospitals, is poised to support the growth of the segment.
However, demand for specialty clinics is expected to remain strong, accounting for more than half of the total revenue share. Patients' increased preference for visiting specialized centers for specific ailments is expected to increase the adoption of laser therapy devices across specialty clinics.
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In 2021, North America has dominated the laser therapy market and will continue to increase its global market share. This is due to the prevalence of the growing market for cosmetic procedures in this region's countries. Asia-Pacific, on the other hand, will have the highest compound annual growth rate during the forecast period due to increased awareness of the benefits of non-invasive laser therapies over invasive therapies, as well as a growing geriatric population. Furthermore, an increase in personal disposable income will increase the demand for laser therapies in this region.
The rise in the incidence of dermatology, eye, and dental diseases also contributes to the region's share. Due to rising health expenditures and increased acceptance of these novel laser techniques, Europe's Laser Therapy Devices market is expected to grow at a significant rate.
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Globally, the percentage of minimally invasive surgeries has increased, primarily intending to reduce patient trauma. Because advanced instruments allow doctors to work without deconstructing any body part, minimally invasive surgeries necessitate small incisions. Lasers are becoming increasingly popular in modern medicine as minimally invasive techniques for various pathologic processes are sought. Lasers have a wide range of applications outside of the operating room, including ophthalmology, lithotripsy, oncology, and dermatitis and cosmetic procedures. Laser lithotripsy has proven to be extremely effective in fragmenting urinary and biliary stones.
Lasers can do this by creating a shockwave (photo dermal effect). Similarly, laser interstitial thermal therapy (LITT) is used in neurosurgery for patients who are not ideal surgical candidates. The device is inserted into the left atrium and consists of a catheter with a compliant balloon at its tip that is continuously flushed with deuterium oxide. Because of the breadth of their applications, many laser therapy device manufacturers are expanding their presence in key markets.
Laser Therapy Devices Market Restraint
Burns, scar tissue, dyspigmentation, ocular injury, and infection are all common side effects of laser therapy. Infectious diseases are of significant concern because they can disrupt the skin's barrier function, particularly after laser-assisted procedures. Dermal infections can appear atypically following ablative resurfacing.
Furthermore, Herpes simplex virus (HSV) reactivation is common following laser treatments, especially in the perioral skin. Patients are fearful of undergoing advanced laser surgeries as a result of such incidents, which is expected to limit sales of laser therapy devices significantly.
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The laser therapy devices market is comprised of both national and international players who are competing for the top spot. Producers in the laser therapy devices market are concentrating on the advancement of new technologies through the incorporation of laser therapy types such as carbon dioxide laser, pulsed-dye laser, and so on. Such advancements contribute to the laser therapy devices market's rapid growth. Key players also devise a variety of strategies for establishing and expanding their presence in the laser therapy devices market. Mergers, acquisitions, joint ventures, partnerships, and collaborations also have a positive impact on the growth of the laser therapy devices market.
Laser Therapy Devices Market Top Player's Company Profiles
Laser Therapy Devices Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, we found that the growing need for non-invasive treatments and the increasing need for the treatment of various diseases are driving the market growth. The rising demand for aesthetic laser procedures in developing nations is expected to drive market expansion. The American Society for Aesthetic Plastic Surgery (ASAPS) estimates that the American population spends more than USD 13.00 billion on aesthetic treatments such as acne prevention, body contouring, dermal resurfacing, and others. This is expected to increase demand for these procedures and create a lucrative growth opportunity for the global laser therapy device market.
|Market size value in 2021||USD 1.92 billion|
|Market size value in 2030||USD 2 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Laser Therapy Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Laser Therapy Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Laser Therapy Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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