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The Laser Therapy Market registered USD 1.75 Billion in 2019 and it is estimated to reach more than USD 3.93 Billion by 2028, likely to grow with a CAGR of 9.4 % during the forecast period
LASER represents Light Amplification by Stimulated Emission of Radiation and laser is a gadget that releases the light with the help of optical amplifiers. Laser therapy is a non-intrusive treatment which uses the excessive rays of light of specific wavelengths that helps to minimize pain in the wounds. In other words, laser therapy makes use of the light of a particular wavelength to treat multiple diseases. Laser treatment is most frequently used to get rid of kidney stones, treat hair damage, healing a retinal detachment, and eradicate tumors or precancerous tumors, and various cancers.
This therapy can be used to cauterize the termination of nerves after surgical treatment, lymphatics to decrease protuberance, and blood vessels to help prevent blood loss. In ophthalmology, Lasers therapy plays an indispensable part. The laser treatment in ophthalmology uses a beam of light that restructures the cornea, in that way recovers the corneal focusing. It can also be used to produce a channel to release the intraocular burden of glaucoma or seal tiny bleedings. Hence, owing to the numerous applications of laser therapy, the global market is rising at significant growth.
Rising Frequency of Various Ailments Consisting of Cardiovascular Problems, Dental Maladies, and Cancer amongst Others will have a Positive Impact on Laser Therapy Industry Growth throughout the Evaluation Timeframe.
American Academy of Dermatology (AAD) states that pimples or acne is the most frequent skin condition affecting up to 50 million people every year. Such dermatological diseases, longing for effective and long-term therapy coupled with the rising frequency of dermatological conditions will generate considerable demand for the laser therapy market throughout the estimation period. Increasing the occurrence of ailments like cataracts and arthritis is the primary driver for market growth. Moreover, growing demand for aesthetics and rising geriatric populace accompanied by increasing demand for non-invasive methods will enhance the market growth.
Growing customer inclination towards new laser-based technologies for aesthetics treatment will arouse the international laser therapy industry growth in the imminent years. High growth can be accredited to increasing in demand for laser therapy devices attributable to higher effectiveness, quick recuperation to regular body functions, speedy treatment time and higher efficacy. Thus, the growing emphasis on body aesthetics will result in the speedy implementation of therapeutic laser devices in cosmetic surgeries, in that way encouraging the laser therapy market growth over the estimated timeframe. Nevertheless, the higher expenditures required for laser therapy may hinder the demand for laser therapy in developing countries. Moreover, rigorous government authority rules and regulations will deter the laser therapy market growth in the upcoming years.
Ophthalmology Segment will Embrace a Substantial Revenue size over the forecast years
Owing to the emergent prevalence of eye diseases, specifically among elderly people the ophthalmology section of the segmentation will hold a major market share. The American Academy of Ophthalmology cited that about 24.5 million individuals are suffering from cataract surgery and blindness. Laser therapy is the most effective way to restore vision. Besides, the application of laser treatment devices in ophthalmology to improve cornea focus, reduction in the intraocular burden of glaucoma along increasing utilization in cataract surgeries will increase the use of laser therapy in ophthalmology subdivisions in the approaching years.
North America is anticipated to dominate the Global Laser Therapy Market, accounting for 36.76% share in 2019
Owing to the large patient pool, strong government backing for research & development programs, high healthcare expenditure, and increasing elderly population, the North America region holds the largest market share in the global laser therapy market.
Europe is the subsequent prominent region in the international laser therapy market after North America. Besides, Asia Pacific is the fastest developing market for laser therapy. The occurrence of an enormous patient population and uninterruptedly emerging countries like China and India boosts the market growth inside the region. Additionally, the rising elderly population in the Asia-Pacific empowers the growth of the laser therapy market.
The Middle East and Africa account for the lowest share of the growth of the global laser therapy market. The Middle East zone holds the largest market share in this region owing to the presence of developed countries like Saudi Arabia, Kuwait, Qatar and others. Africa embraces the least part of the global market as a result of the inadequate accessibility of medical services, deprived financial state, and strict government guidelines.
The international laser therapy market is vastly fragmented and the leading companies have tried various approaches such as agreements, joint ventures expansions, acquisitions, partnerships, new product launches, mergers, and others to upsurge their trails in the laser therapy market.
Some of the major market competitors currently working in the global laser therapy market are Lumenis, Danaher, Millennium Dental Technologies, Inc. (MDT), Dentsply Sirona, BISON MEDICAL, CAO Group, Inc., Fotona d.o.o., LightScalpel, AMD LASERS, among others
Global Laser Therapy Market by Type
- Diode Lasers
- Solid-State Lasers
- Liquid Lasers
- Semiconductor Lasers
- Gas Lasers, Dye Lasers
Global Laser Therapy Market by Application
- Dermatology & Aesthetics
Global Laser Therapy Market by End User
- Specialized Clinics
- Ambulatory Surgical Centers
Global Laser Therapy Market by Geography
- North America
- Asia Pacific
- Middle East & Africa
- South America