Laser Therapy Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3871
Laser Therapy Devices Market size is projected to experience significant growth from 2019 to 2025.
Growing prevalence of various diseases including cancer, dental disorders, cardiovascular disorders among others will positively impact laser therapy devices industry growth during the forecast period. According to the American Academy of Dermatology (AAD), in the U.S., acne is the most common skin condition affecting up to 50 million individuals each year. Such dermatological diseases, needing effective and long-term treatment coupled with increasing incidence of dermatological conditions will create significant demand for laser therapy devices during the estimation period.
Increasing consumer preference towards innovative laser-based technologies for aesthetics treatment will stimulate the global laser therapy devices business growth in the coming years. High growth can be attributed to rising in demand for such devices due to better effectiveness, quick recovery to normal body functions, fast treatment duration and high efficacy. Thus, rising focus on body aesthetics will lead to rapid adoption of medical lasers in cosmetic surgeries, thereby stimulating the laser therapy devices market growth over the projected timeframe.
However, restrictive cost may hamper the demand for laser therapy devices in the emerging countries. Furthermore, stringent government regulations will limit laser therapy devices market growth in the forthcoming years.
Semiconductor/diode laser systems market will witness momentous growth over the projected timeframe due to the increasing adoption of various aesthetic cosmetic procedures. With the widening of applications of diode lasers in various medical procedures including dentistry and dermatology, among others will offer lucrative growth opportunities for diode laser systems during the forecast period. Furthermore, availability of these lasers over-the-counter will impel the segmental growth in the coming years.
Ophthalmology segment will hold a significant revenue size over the forecast years due to the growing incidence of eye diseases, especially among geriatric population. According to the American Academy of Ophthalmology, about 24.5 million individuals are suffering from blindness and cataract surgery remains the most effective way to restore vision. Moreover, utilization of laser based-ophthalmology to improve cornea focus, decrease intraocular pressure of glaucoma as well as increasing usage in cataract surgeries will increase the application of laser therapy devices in ophthalmology segment in the coming years.
Hospitals segment will show momentous growth over the projected timeframe due to availability of advanced and innovative technology-based laser devices in these facilities. Growing number of hospitalizations for complex procedures such as cardiovascular disorders and cancer-related procedures, requiring less invasive and advanced therapies will escalate the demand for laser therapy devices. Furthermore, improving hospital infrastructure coupled with availability of favorable reimbursement policies will drive segmental growth during the projection timeframe.
U.S. laser therapy devices market is estimated to foresee lucrative growth over the forecast period due to rapid rising acceptance of innovative laser therapy solutions in this region. Increasing popularity and implementation of minimally invasive laser procedures such as laser hair removal, removal of scars, resurfacing of the skin, and liposuction among the population due to high emphasis on aesthetics will enhance the market growth. Moreover, rise in disposable income and supportive government initiatives to develop advanced products for aesthetics treatment will augment U.S. laser therapy devices industry growth.
India laser therapy devices market is estimated to witness lucrative growth over the forecast period due to the increasing prevalence of chronic diseases such as dermatological, cancer, and eye-related diseases among few others. Growing awareness about the novel and advanced laser therapy devices for aesthetic treatment will offer a lucrative growth opportunity in this region. In addition, growing healthcare expenditure to develop advanced aesthetics treatment will accelerate India laser therapy devices market growth.
Few of the major players operating in the global laser therapy devices market include Boston Scientific Corporation, IPG Photonics Corporation, Angiodynamics, Biolase, Inc. and Iridex Corporation among other players. These industry players implement various strategies such as mergers & acquisitions, partnerships, and new product launch to enhance profitability and company growth. For instance, in June 2019, iRestore Laser received the U.S. FDA approval for new iRestore Professional, an advanced low level laser therapy (LLLT) device used in the treatment of thinning hair and hair loss condition that is common in most of the Americans. This strategy will expand the company’s laser therapy devices portfolio along with its customer base.
Laser Therapy Devices Market by Product, 2014-2025 (USD Million)
- Gas Laser Systems
- Liquid/Dye Laser Systems
- Semiconductor/Diode Laser Systems
Laser Therapy Devices Market by Application, 2014-2025 (USD Million)
Laser Therapy Devices Market by End-Use, 2014-2025 (USD Million)
- Ambulatory Surgical Centers
- Specialized Clinics
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Alma Lasers
- Biolase, Inc.
- Biolitec AG Untere Viaduktgasse
- Boston Scientific Corporation
- Hologic, Inc.
- IPG Photonics Corporation
- Iridex Corporation
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