Laser Therapy Market Analysis and Forecast by Size, Share, Growth, Trends 2031

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.

Laser Therapy Market Analysis

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 Market Overview

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.

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Laser Therapy Market: Strategic Insights

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Laser Therapy Market Drivers and Opportunities

Growing Product Launches to Favor Market

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.

Developments in Laser Technology – An Opportunity for Laser Therapy Market Growth

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.

Laser Therapy Market Report Segmentation Analysis

Key segments that contributed to the derivation of the laser therapy market analysis are type, application, and end user.

• Based on type, the laser therapy market is divided into solid, liquid, gas, and diode. In 2023, the aneurysm coiling & embolization devices segment held the largest share of the market, and the same segment is anticipated to register the highest CAGR during the forecast period. The segment is further categorized into embolic coils, bare detachable coils, coated detachable coils, flow diversion devices, and liquid embolic agents.
• By application, the market is segmented into dermatology and aesthetics, dental, ophthalmology, urology, cardiovascular, oncology, and others. In 2023, the ischemic strokes segment held the largest share of the market, and the same segment is anticipated to register the highest CAGR during 2023–2031.
• In terms of end user, the market is segmented into specialized clinics, hospitals, ambulatory clinics, and others. In 2023, hospitals segment held the largest share of the market, and the same segment is estimated to register the highest CAGR during the forecast period. The hospital segment is expected to grow at the fastest rate during the coming year owing to the availability of better healthcare facilities as well as reimbursement policies from government bodies.

Laser Therapy Market Share Analysis by Geography

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.  

Laser Therapy Market Regional Insights

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.

Laser Therapy Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

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:

1. Alma Lasers,
2. Coherent, Inc.,
3. biolitec Group,
4. BIOLASE, Inc.,
5. IPG Photonics Corporation,
6. Boston Scientific Corporation,

Disclaimer: The companies listed above are not ranked in any particular order.

Laser Therapy Market News and Recent Developments

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:

• Theralase Technologies Inc., a clinical-stage pharmaceutical company dedicated to the research and development of light and/or radiation-activated Photo Dynamic Compounds (“PDCs“) for the safe and effective destruction of various cancers, bacteria and viruses, donated two Theralase TLC-2400 Cool Laser Therapy (“CLT”) systems to the University of Windsor to aid in the research and development of a novel treatment for patients suffering from Parkinson’s Disease (“Parkinson’s”). (Theralase Technologies Inc., Press Release, 2024)
• ViaLase has secured approximately $40 million in Series C financing to drive the continued development of the company’s femtosecond laser for the treatment of glaucoma. The financing was led by a new investor and supported by current investors, including Venture Investors Health Fund, Arboretum Ventures, and Falcon Vision. (ViaLase, Inc., News, 2024)
• Norlase, leading global ophthalmic laser manufacturer developing next-generation laser solutions, announced it has closed its biggest investment round thus far. The US$ 11 million in funding was led by London-based firm West Hill Capital. The funding came on the heels of the FDA clearance and CE mark approval of the company’s most advanced product to date, the ECHO pattern laser. It enabled Norlase to accelerate the production ramp-up of the ECHO pattern laser, as well as its other cutting edge laser treatment solutions. (Norlase, News, 2023)
• ViaLase, Inc., a clinical-stage medical technology company focused on addressing unmet needs in the conventional glaucoma treatment paradigm, announced the enrollment of VIA-002, the company's pivotal trial of the ViaLase Laser to treat adult patients with primary open angle glaucoma (POAG). The ViaLase Laser combines the precision of femtosecond laser technology and the accuracy of micron-level image guidance to deliver a non-invasive glaucoma treatment called femtosecond laser image-guided high-precision trabeculotomy, or FLigHT. (ViaLase, Inc., News, 2023)

Laser Therapy Market Report Coverage and Deliverables

The “Laser TherapyMarket Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles