Laser Therapy Devices Market (2021 to 2031) – Growth, Trends, COVID-19 Impact, and Forecasts
In the field of medical science, lasers are used in specific wavelengths of light, from red to near infrared, in order to create beneficial and therapeutic effects. Such kind of results include improved time of healing, reduction in pain, increased blood circulation and a reduction in swelling. A trend in the laser therapy devices market includes a shift towards pain-free and non-invasive procedures.
The procedures related to medical aesthetics, both invasive and non-invasive, are becoming increasingly popular amongst the younger population. These procedures using lasers have replaced the traditional surgery and they give superior results with minimum complications. Moreover, non-invasive laser procedures like removal of scars, resurfacing of the skin, facelifts, laser hair removal and liposuction are becoming increasingly popular as they promote a younger looking appearance with minimal side effects.
The global laser therapy devices market is slated to touch a value of about US$ 1,900 Mn in the year 2022 and display a moderate CAGR during the assessment period.
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4 Forecast Highlights on Global Laser therapy devices Market
- As per the forecast of Future Market Insights, the gas laser segment is slated to touch a value of more than US$ 470 Mn in the year 2022. This represents a robust CAGR during the assessment period of 2017-2022. The gas laser segment is estimated to account for nearly one-fourth of the revenue share of the device type segment by the year 2017 and is forecasted to gain market share by 2022 over 2017.
- As per the forecast of Future Market Insights, the specialized clinics segment will reach a value of about US$ 825 Mn in the year 2017. This represents a moderate CAGR growth during the forecast period. The specialized clinics segment is forecasted to account for more than half of the total revenue share of the end user segment by the end of the year 2017 and is expected to gain in market share by 2022 as compared with the year 2017.
- As per the forecast of Future Market Insights, the ophthalmology segment is slated to reach a value of more than US$ 560 Mn in 2022. The ophthalmology segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the North America region in the ophthalmology segment.
- Future Market Insights forecasts the United States laser therapy devices market to exhibit a compound annual growth rate (CAGR) of more than 4% from 2017 to 2022.
Boston Scientific Corporation, IPG Photonics Corporation, Lumenis Ltd., Coherent Inc., Biolitec AG, Hologic Inc., Alma Lasers Ltd., Fotona D.D, Danaher Corporation and 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.
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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.