The global Laser Therapy Devices Market is projected to grow at 4% CAGR throughout the forecast period of 2021 to 2031. Rising cases of infections and wounds after performing conventional surgical procedures, compelled the healthcare system to work towards the discovery of non-conventional treatment methods.
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Laser therapy devices are mostly used in oncology for treatment of cancer in the form of radiation treatment. In 2018, around 9 million people died globally from some form of cancer according to the Cancer Atlas. With increasing incidence of cancer patients, the laser therapy device market is forecast to expand at a healthy pace during the projection period.
Low level laser therapy is being adopted by medical practitioners in order to reduce the laser surgery associated side-effects in the long-run. Several medical organizations are focusing in research and development to offer cost effective laser treatment.
Administering minimal invasive treatment procedure especially in ophthalmology and lithotripsy with laser lithotripsy proven highly efficient in the fragmentation of urinary and biliary stones. Studies highlighting the benefits of laser therapy will create attractive opportunities for the market in the coming years.
“Surging demand of breast augmentation procedures, liposuction and other cosmetic surgeries among younger population will drive the laser therapy devices market growth during the assessment period,” remarks the FMI analyst.
Key Takeaways
- Rising cases of myopia and cataract in the U.S has fueled the demand for laser therapy devices in ophthalmology. These high incidences will create new avenue for growth and innovation in laser therapy devices market.
- Low-level laser therapy is gaining popularity in the U.K. as a non invasive, highly effective treatment options for chronic pain, soft tissue injuries and healing wounds which can administered at home. This will positively influence the laser therapy devices market demand.
- Rising prevalence of skin malignoma in Germany has pushed healthcare workers towards adopting laser therapy treatment options to eradicate the diseases. Rising use of laser therapy in aesthetics and dermatology will drive the market growth in Germany.
- Presence of prominent market players, expansion of healthcare infrastructure, and research and development in the field of laser treatment in France will accelerate the market growth.
- China is anticipated to provide lucrative growth opportunities on the backs of increasing demand of cosmetic and aesthetic surgeries, rapid development in novel therapeutic approaches, and elevated standard of living in the country.
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Prominent Drivers
- Rapid incorporating of laser therapy in aesthetic treatment coupled with increase in per capita income in developing countries will elevate the market demand.
- Rising geriatric population and growing demand of laser therapy in eye treatment is expected to fuel the market growth.
- Increasing prevalence of skin irritation and other diseases and growing efforts towards developing long term solution will intensify the market growth.
Key Restraints
- Surge in Herpes simplex virus (HSV) reactivation in perioral skin after laser treatment hampers the market demand.
- Burning and scarring of the skin and soft tissues after multiple laser treatment sessions restricts the market growth.
- High cost of laser therapy and high risk of infection due to disrupted skin barrier after laser therapy will hinder the market sales.
Competitive Landscape
Market players are primarily focusing towards developing innovative products to standout in the highly competitive market. New product launches will assist them in developing strong portfolios allowing them for better market penetration.
They are also looking forward to strategic merger and acquisition as well as collaboration and partnership with important stake holders and distributors. For instance, Boston Scientific Corporation acquired NxThera in 2018, to introduce the NxThera’s Rezum® minimally invasive therapy for patients with benign prostatic hyperblasia (BPH).
This acquisition helped in advancement of Boston’s Urology and Pelvic Health business. The acquisition of Rezum® paired elegantly with the Boston’s GreenLight XPSTM Laser Therapy system and holmium laser platforms.
IPG Photonics Corporation offers wide range of laser therapy treatment solutions across broad medical segments which include the ophthalmology, dermatology, surgical, dentistry and medical imaging segments.
The company offers different categories of fiber lasers (CW and pulsed), Raman lasers (VIS and IR) and Mid-IR hybrid lasers. It also offers pico and femtosecond pulsed lasers at 1 and 1.5 µm.
Lumenis Ltd. launched a ground breaking holmium laser technology named MOSESTM 2.0 in July 2020, assisting in revolutionizing urology care. This was a follow up to MOSES technology introduced in 2017 with aim to improve the efficiency of urinary stones and enlarged prostate procedures.
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Leading players profiled by FMI operating in laser therapy devices market are:
- Boston Scientific Corporation
- IPG Photonics Corporation
- Lumenis Ltd.
- Coherent Inc.
- Biolitec AG
- Hologic Inc.
- Alma Lasers Ltd.
- Fotona D.D
- Danaher Corporation
- Thermo Fisher Scientific Inc.
More Insights on FMI’s Laser therapy devices Market
The latest market study on global laser therapy devices market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Device Type
- Solid-State Laser
- Gas Laser
- Liquid Laser
- Semiconductor Laser
End-User
- Hospitals
- Specialized Clinics
- Ambulatory Surgical Centers
- Other End-Users
Application
- Ophthalmology
- Dermatology
- Gynecology
- Urology
- Cardiovascular
- Others
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