The global laser therapy devices market is on track for substantial expansion, with a forecasted increase from USD 3 billion in 2023 to an impressive USD 7 billion by 2033, according to the latest report by Future Market Insights (FMI). This robust growth projection underscores the escalating adoption and broadening applications of laser therapy devices across various medical sectors.
FMI’s comprehensive analysis reveals a projected Compound Annual Growth Rate (CAGR) of 8.8% over the next decade. This surge is driven by the growing demand for advanced and minimally invasive treatment options, as well as significant investments in laser therapy technologies.
Key Insights from FMI’s Report:
- Oncology and Aesthetics Lead Growth: The oncology and aesthetics segments are anticipated to be primary drivers of market growth, owing to the precision and effectiveness of laser therapy in these areas.
- Ophthalmology Gains Momentum: The demand for laser therapy in ophthalmology is set to rise, reflecting its expanding role in eye care treatments.
- Rising Popularity of Low-Level Laser Therapy (LLLT): The preference for LLLT is growing, with innovations like the FDA-approved Erchonia FX 635 showcasing notable success in pain reduction, enhancing its appeal.
According to the Cancer Atlas, the global burden of cancer is projected to increase significantly, which will likely drive further advancements and adoption of laser therapy devices. With an estimated 18.1 million active cancer cases and a projected rise of over 60% in cancer cases by 2040, the need for effective treatment options is critical.
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.
Get All the Details: Find the Complete Laser Therapy Devices Market Report
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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