The Laser Therapy Market is projected to reach USD 3,514.02 million by 2030 at 9.40% CAGR during the forecast period 2022-2030.The concept of advanced Laser therapy is a typical non-invasive sound medical treatment that applies the light of a specific or prime wavelength to physically treat several multiple diseases. Laser therapy is actually the most commonly applied method to totally remove tumors or precancerous growths inside a human body, completely remove kidney stones, fully repair a detached retina, absolutely treat hair loss and various cancer concerns. Thelaser therapy devices market is booming, and this device is also used to seal the sudden nerve endings after surgery or operations, helps lymph vessels to reduce swelling, and blood vessels to assist prevent blood loss. Laser Therapy has now become an essential and most important part of ophthalmology. In laser-based ophthalmology, the treatment focuses on a beam of light that reshapes the cornea, thereby instantly improves corneal focusing. Laser Therapy can also be applied to create a particular channel to instantly relieve the various intraocular pressures of glaucoma or categories large numbers of tiny hemorrhages. Laser Therapy widely used lasers in ophthalmology are ND: YAG LASER, advanced excimer LASER, latest femtosecond LASER, and others. Rising prevalence of diseases, for example,cataracts and arthritis, is the primary driver for the light therapy market growth. As per the data of the National Eye Institute, a large population in the U.S. with the disease condition of cataract is projected to double from 24.4 million in 2010 to 50 million by the end of 2050. Not only this, in the year 2015, National Eye Institute declared that more than half of America’s population widely suffer from chronic cataract-related problems in their lifetime. In addition to this, the enormous demand for basic aesthetics and increasing geriatric population, which can be followed by rising demand for various non-invasive procedures, will definitely boost the laser therapy market size growth. Not only this, extremely high procedural cost will restrain the market trends of laser therapy during the forecast period.
There has been a constantly increasing demand for modern technology, which expands the major market demand for the cold laser therapy; there are plenty of advantages of these devices. Also, because lack of proper infrastructure is very few of the major or primary drivers for the Laser Therapy Industry. The large part of Europe is estimated to be the quickest growing area.
COVID 19 Impacts and effects
The COVID 19 has affected 215 countries and the global light therapy market as well. To combat the negative effects, countries lead lockdowns that have adversely affected the medical lasers market. The pandemic leads to several challenges to the sector; it is affected all over the world. Plenty of factors like the risk of uninterrupted production, supply chain, distribution, lack of workforce employees, and much-decreased development activities have primarily affected the ongoing demand and supply. People are not as active as earlier. Major strategic developments are taking place. MNC are investing more in the Laser Therapy Market because of the increasing demand from consumers across the globe.
The trend of ‘Tattoo regret’ has gained huge popularity and prevalence among millennials of current days, which is attracting them towards quick and affordable tattoo removal procedures. Lots of companies across the world refrain from employing human resources or employees that have whacky tattoos, especially those tattoos that are visible, for example, on areas above the collar, face, eyebrows, or below the wrist. These multinational companies are of the traditional belief that all visible tattoos come across as unprofessional and look indecent. Whacky tattoos are kinds of social issues that are projected to improve the demand for tattoo removal. A few other vital factors that accelerate and raise the market growth can be the majorly evolving tattoo trends, changes in personal preferences and choices, and poor artwork or design matters.
There are primarily four regions across the globe that are majorly involved in laser therapy research– North America, Europe, Asia Pacific region, and Rest-of-the-World (RoW), depending upon the country-level market sizing. The market of advanced Laser Therapy is very comprehensive; you have to understand each and every player of the market. There is no debate that in spite of the occurrences of COVID 19, the latest trends and future market opportunities for the Laser Therapy will see tremendous spreading opportunities.
The increasing dependence on the Laser Therapy Market supports several industries around the globe that have doubled. The market of Laser Therapy has come up as quite compelling. The Market has been very wide. There are lots of emerging markets related to Market all across the world, like India, China, and Brazil, that are projected to grow fast over the estimated years.
The outbreak of COVID-19 has hard severely knocked out the growing pace of the Laser Therapy Market because of mandatory closures of consumer markets across the globe; the economy is shrinking. COVID19 has disrupted the entire supply chain. A prolonged lockdown had a negative influence and affected the morale of the big pharma companies.
The Laser Therapy Market is projected to touch the earnings of an all-time high in 2023, according to an in-depth detailed report by the latest Market Research Future (MRFR). Around a CAGR of 9.2% is projected during the assessment period (2023) because of the impressive demand. Lots of factors are boosting the concept. The companies are planning and executing current business operations through innovative techniques. Many factors affect the growth of the Laser Therapy Industry, such as market size, trends in global technology, capital investment, etc.
In case of the Laser Therapy Market, the report claims to have a CAGR of 9.2% and a revenue of 2.7 million by 2030. The demand and craze for it is rising, which has increased Laser Therapy Industry growth. It is also estimated to increase at the most elevated speed over the given figure time frame, which is spreading or expanding across different industry verticals. Additionally, government support and customer interest are helping the market to expand. The development is primarily credited to little and medium undertakings or companies where fewer effort arrangements are significantly required.
The worldwide Laser Therapy Market is projected to witness great substantial growth during the estimated time period because of factors, for example, increasing demand for industrialization, huge investment in oil infrastructure, development in various and large scale industries along with the huge rapid expansion is also acting as another primary growth-inducing factor.
By Division by Structure
The global advanced Laser Therapy Market is segmented on the basis of types and applications, the segment of type has been further segmented into diode lasers, advanced solid-state lasers, gas lasers, latest dye lasers, and others. Based on the basis of application, the Laser Therapy Industry has been further categorized as various latest dermatology and aesthetics, affordable surgery, dental, and others.
On the basis of Geographic Segmentation:
Division by Application
The primary stakeholders in the Laser Therapy Market are research organizations, Traders, Importers, and Exporters, Suppliers, Industry end users. The concept is gaining momentum. The enterprises are focusing more intensely on improving product innovation techniques.
Division by Region
The regional analysis of several Laser Therapy Market is being divided and studied, such as Asia Pacific, North America, European nations, and rest of the world countries. As per Geographical, North America is projected to be the biggest market in terms of profit contribution due to increased adoption of several cloud-based services by way of production systems and by several distribution channels. In addition to this, the countries of Asia Pacific are projected to grow rapidly in Laser Therapy Industry due to increasing investment. Also, there has been a rise in demand in major developing countries. For example, India and China are projected to lead market growth of Laser Therapy in different Asia-Pacific regions.
There is no doubt; North America is leading the Laser Therapy Market due to the presence of the grand global players in this particular region as well as increased technological advancement.
The market players for the Laser Therapy Market industry are:The key players in the global market of laser therapy include Biolase Inc. (U.S.), Alma Lasers (Israel), Cutera (U.S.), IRIDEX Corp. (U.S.), Valeant (Canada), Coherent, Inc. (U.S.), and Angiodynamics, Inc. (U.S.).
|Market Size||USD 3,514.02 million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Biolase Inc. (U.S.), Alma Lasers (Israel), Cutera (U.S.), IRIDEX Corp. (U.S.), Valeant (Canada), Coherent, Inc. (U.S.), and Angiodynamics, Inc. (U.S.).|
|Key Market Opportunities||The increasing dependence on the Laser Therapy Market supports several industries|
|Key Market Drivers||
laser therapy market is projected to grow at approximately 9.40% CAGR during the assessment period (2022-2030).
Extensive usages of the therapy in dermatology, cosmetology, and for sport injury, are major tailwinds pushing the growth of the global laser therapy market.
High costs associated with laser therapy and the lack of knowledge are major growth impeders for the global laser therapy market.
North America holds the largest share in the global laser therapy market, followed by Europe and the Asia Pacific, respectively.
Biolase Inc. (U.S.), Cutera (U.S.), Alma Lasers (Israel), IRIDEX Corp. (U.S.), Coherent, Inc. (U.S.), Valeant (Canada), and Angiodynamics, Inc. (U.S.), are some of the top players operating in the global laser therapy market.