The laser therapy market size in 2021 stood at US$ 2.00 billion and is projected to reach US$ 6.49 billion by 2031 from US$ XX billion in 2023. The market is expected to register a CAGR of 12.5% in 2023–2031. Growing awareness regarding laser therapy with its fewer health risks and adoption rate in developing regions are likely to remain key laser therapy market trends.
Increasing consumer preference for innovative and non-invasive laser-based technologies will drive global demand for laser therapies. An increasing geriatric population will increase the demand for this technology as it helps reduce pain and inflammation. Increasing eye diseases will also promote the growth of the laser therapy market. Increase in personal disposable income and demand for cosmetic surgeries are further expected to create more lucrative opportunities for market growth. The introduction of laser therapy devices by doctors and medical professionals for the treatment of scars and wounds, as well as their diverse applications, such as tissue coagulation and elimination of malignant tumors, are increasing the demand for these advanced medical technologies. However, the high cost of installing and maintaining the technology will slow market growth. Additionally, strict government regulations on acquiring and installing the technology will slow market growth.
Laser therapy uses the mechanism of photobiomodulation, in which the photons penetrate the tissue and interact with it. This interaction increases cellular metabolism and helps reduce pain and inflammation. Minimally invasive surgical procedures have come into the spotlight in global healthcare. The emergence of surgical wounds and associated infections from conventional procedures has necessitated a shift to alternative approaches. There is a growing need for portable and handheld laser devices for home and outpatient treatments. A significant expansion of applications beyond traditional dermatology, with laser therapy devices in dentistry, ophthalmology, and oncology, is expected to shape the market outlook. The high rate of failure of laser-based surgical procedures and the side effects of laser therapy will further hinder the market growth.
The accessibility of various advanced products in the market permits medical professionals to improve patients’ health by enhancing their treatment efficiency. For example, in February 2020, IRIDEX Corporation, a manufacturer of laser-based medical products for ophthalmology, launched an upgraded second-generation version of the MicroPulse P3 Device for treating glaucoma, and the upgrades made to the device are expected to substantially reduce intraocular pressure suitable for glaucoma patients without incisions. In October 2023, Abbott introduced its vascular imaging platform in India with Ultreon 1.0 software, which combines optical coherence tomography (OCT) with AI to give doctors a comprehensive view of blood flow and blockages in coronary arteries. In January 2022, the EdgePRO laser-assisted irrigation device, which was used as an effective cleaning and disinfection alternative in root canal treatments, received FDA 510(k) clearance from BILOASE, Inc., a major provider of dental lasers, and EdgeEndo, an endodontic commercialization company products involved.
Continuous advances in laser technology, including the development of more precise and targeted laser systems, have expanded the applications of laser therapy in various medical fields. The advent of portable and handheld laser devices has facilitated the expansion of laser therapy beyond the clinical setting, allowing patients to access treatment from the comfort of their homes. This accessibility and convenience factor has contributed significantly to market penetration. Laser therapy is used in cancer treatment for tumor ablation, photodynamic therapy (PDT), and laser-induced interstitial thermotherapy. Targeted laser therapies, controlled by imaging techniques, improve the precision of cancer treatment. Developments in photothermal and photochemical therapies are contributing to more effective and localized cancer interventions. Advances in laser parameters such as wavelength and power density contribute to optimized photobiomodulation results. Low-level light therapy (LLLT) is a non-invasive technique that promotes tissue regeneration and repair.
Interestingly, this therapy has shown outstanding effectiveness in hair growth and skin rejuvenation. Laser-induced regenerative therapies hold promise for promoting healing in various medical fields. These technological innovations have led to better treatment outcomes and provide lucrative opportunities for market growth.
Key segments that contributed to the derivation of the laser therapy market analysis are type, application, and end user.
The geographic scope of the laser therapy market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the laser therapy market. The laser therapy devices market in North America is expected to grow significantly owing to new product developments in the region. Increasing healthcare expenditure and public awareness also contribute to market growth in this region. The advancement of laser therapy devices in various applications such as neurosurgery, gynecology, or ophthalmology, increasing government approvals, and the presence of key market players in the region are leading to the growth of the laser therapy market. Furthermore, increasing product launches is responsible for the market's growth. This region has many important developments, technological advances, collaborations, and agreements. For example, on March 8, 2021, Solta Medical, a part of Bausch Health Companies Inc., a medical aesthetics provider, announced the launch of its next-generation Clear + Brilliant Touch laser in the US. The Clear + Brilliant Touch laser offers a comprehensive and personalized treatment protocol by providing the benefits of dual wavelengths to patients of all skin types and ages. Asia Pacific is expected to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Laser Therapy Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Laser Therapy Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2.00 Billion |
| Market Size by 2031 | US$ 6.49 Billion |
| Global CAGR (2023 - 2031) | 12.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Laser Therapy Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Laser Therapy Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The laser therapy market is evaluated by gathering qualitative and quantitative data post post-primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for laser therapy:
The “Laser TherapyMarket Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: