The global laser therapy devices market is poised for exceptional growth over the next decade, according to a recent report by Future Market Insights (FMI). Valued at USD 3 billion in 2023, the market is forecasted to soar to an impressive USD 7 billion by 2033, reflecting a significant expansion driven by increasing adoption and diverse applications across medical sectors.
FMI’s comprehensive analysis projects a Compound Annual Growth Rate (CAGR) of 8.8% over the next decade, highlighting a robust upward trajectory in the market. This growth underscores the growing recognition of laser therapy’s efficacy and versatility, with applications spanning dermatology, orthopedics, and ophthalmology.
“This remarkable growth is a testament to the transformative impact of laser therapy in modern medicine,” said a representative from Future Market Insights. “The advancement in technology and its expanding applications are paving the way for significant market expansion.”
Key factors contributing to the anticipated surge in market value include technological innovations, rising healthcare awareness, and an increasing demand for non-surgical treatment options. As healthcare providers and patients alike seek effective and minimally invasive solutions, laser therapy devices are becoming integral to medical practice.
Key Drivers of Growth:
- Technological Advancements: Continuous innovation in laser technology enhances the efficacy and safety of treatments, contributing to increased adoption.
- Broadening Applications: The expanding use of laser therapy in various medical specialties drives demand and market expansion.
- Rising Awareness: Increased awareness about the benefits of laser therapy among healthcare professionals and patients fuels market growth.
Future Market Insights projects that this growth will continue as new advancements in laser technology emerge and healthcare systems globally adopt more innovative treatments.
Market Trends and Regional Insights:
Device Type:
Gas laser therapy devices are expected to capture more than a quarter of the market revenue. Hospitals and specialty clinics will generate significant shares of the revenue, with ophthalmology treatments likely to dominate.
Regional Growth:
The US and UK are anticipated to experience high sales due to the popularity of LLLT, while Germany’s high prevalence of dermatological disorders and France’s robust healthcare research funding will further fuel market growth. China’s high plastic surgery rates are also expected to contribute significantly to market expansion.
Full Report On Laser Therapy Devices: Explore the Latest Trends and Insights in Our Detailed Analysis!
Competitive Landscape:
The market is highly competitive, with key players including:
- 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.
Are some prominent laser therapy devices manufacturers as profiled by FMI’s report? New product launches, capacity expansion initiatives and securing regulatory approvals for specific techniques are some key growth strategies.
- In 2018, Hologic Inc. received a medical device license issued by Health Canada to market Cynosure’s advanced non-invasive body contouring product called SculpSure®, a laser treatment device for treating back, inner and outer thighs, and submental area under the chin. This approach destroys fat cells by raising body fat temperature.
- Recently, in April 2021, Alma Lasers Ltd. launched the Alma PrimeXTM platform, a non-invasive approach for body contouring and skin tightening in the abdomen, waist, thighs and buttock areas. It deploys a combination of ultrasound and radiofrequency technologies.
Key Segments Covered:
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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