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Laser Therapy Devices Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

A10862
Pages: NA
Jun 2021 | 79 Views
 
Author(s) : Onkar Sumant
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Laser Therapy Devices Market Outlook - 2027

LASER is an acronym for ‘Light Amplification by the Stimulated Emission of Radiation’. The devices that produce coherent beam of light that aims to remove or restructure a tissue in a surgery are called medical lasers and have applicability in wide range of diseases and health concerns. Innovations in the laser therapy has led to implementation of laser therapy for various medical conditions including cosmetic dermatology for resurfacing of the layer of skin, removal of scars and tattoos. Laser therapy is extensively utilized in the areas of lithotripsy, surgical treatment of tissues, removal of tumors or precancerous growths in treatment of cancer and dermatology. 

Laser therapy repair is also used in repairing of damaged retina, and hairloss treatment. Laser treatment applications further extend in sealing of nerve ends and blood vessels in order to minimize blood loss post-surgery. 

Lasers are increasingly being used in ophthalmology. In ophthalmology laser therapy, an intense light beam restructures cornea improving the corneal focus. Some lasers used in ophthalmology include excimer LASER, Nd: YAG LASER, femtosecond LASER, and other lasers.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Product, Applications, End users and Region

  Geographies covered

•             North America (U.S., Canada, Mexico)

•             Europe (France, Germany, UK, Italy, Spain, Rest of Europe)

•             Asia-Pacific (Japan, China, India, Australia, South Korea, Rest          of Asia-Pacific)

•             LAMEA (Brazil, South Arabia, South Africa, Rest of LAMEA)

  Companies covered

Boston Scientific Corporation, Angiodynamics, IPG Photonics Corporation,  Biolase Inc., Iridex Corporation, Bison Medical, LightScalpel, MORITA, Danaher, Laserstar Technology and Fotona D.D.

 

COVID – 19 scenario analysis:  

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
  • Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
  • Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
  • Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to lasers therapy has been reduced and this segment have to face negligence subsequently causing negative impact on laser therapy devices market

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Rising prevalence of several diseases and health concerns such as dental ailments, various types of cancer, cardiovascular disorders and eye related disorders is the driving factor for the growth of laser therapy devices market. The recent developments have also seen the adoption of laser technology in dermatology disciple and is used in treatment of skin diseases and other cosmetic applications. As per the American Academy of Dermatology (AAD), the acne problem being the most common skin condition and accounts for almost 50 million people annually, in the U.S. Such skin infections need proper management of the ailments and effective long term solutions along with rising incidences of skin conditions will boost the growth for laser therapy devices market in the near future. The growing geriatric population and associated diseases is further stimulating the growth for this market. Furthermore, increasing demand for aesthetics treatment and growing adoption of laser therapy in aesthetics treatment will also contribute to the market development. Rising disposable incomes in developing as well as developed economies will provide immense growth opportunities for laser therapy market. 

Rising consumer demand in the market for minimally invasive surgeries with the help of laser-based technologies will ensure the industry growth. The rising demand for laser therapy is owing to shorter recovery time, better effectiveness, rapid treatment and higher efficacy as compared to conventional therapeutics. Thus, rising emphasis on body aesthetics and increased cosmetic surgeries will surge the demand for laser therapy, thereby augmenting the market growth over coming years.

On the contrary, higher costs associated with the laser therapy treatment and heavy investments in acquiring these highly advanced technologies may hamper the market growth. Additionally, stringent regulations imposed by the governing bodies may further restrict the market development.

Increasing adoption of laser therapy in Ophthalmology to amplify the growth

Higher adoption of laser therapy in ophthalmology pertaining to growing prevalence diseases such as cataract is a major factor fuelling the market growth for laser therapy devices.  As per the National Eye Institute, around 24.4 million people are suffering due to Cataract in the U.S. and this number is estimated to double to 50 million by the year 2050. Further, the National Eye Institute also highlighted that more than 50% of the Americans face Cataract problem once in their lifespan. Moreover, growing demand for laser therapy devices owing to minimally invasive treatment and higher efficacy of the treatment will boost the market growth. 

Rising usage of lasers in dentistry to drive the market

The high prevalence of oral diseases has increased significantly in the recent years has led to increase in dentistry. According to WHO, half of the world’s population is affected due to oral diseases, with around 3.5 billion people in the year 2016. The Globocan Project statistics highlight over 300,000 oral cancer and lip cancer recorded cases all across the globe by 2012 and further predicted to hit 700,000 mark by 2017. Thus, the increasing number of cases of patients suffering from oral diseases coupled with increasing awareness among the people regarding laser-based treatment will result in growing demand for dentistry, especially in developing countries is expected to boost the growth of the global laser therapy devices market. 

Key segments:

Segments

Sub-segments

  Product

  • Gas Laser Systems
  • Liquid Laser Systems
  • Diode Laser Systems
  • Others

  Applications

  • Dermatology
  • Ophthalmology
  • Dentistry
  • Gynecology
  • Urology
  • Cardiology
  • Oncology
  • Others

  End users

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics

  Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA


Key benefits of the report:

  • This study presents the analytical depiction of the global laser therapy devices market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global laser therapy devices market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global laser therapy devices market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global laser therapy devices market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Laser therapy devices Market research report:

  • What are the leading market players active in the laser therapy devices market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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