Laser Therapy Market Trends, Share, and Growth (2021-2031)
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
Market Size Value in US$ 1,665.65 Million in 2019 Market Size Value by US$ 3,514.02 Million by 2027 Growth rate CAGR of 9.9% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Laser Therapy Market: Strategic Insights
| Market Size Value in | US$ 1,665.65 Million in 2019 |
| Market Size Value by | US$ 3,514.02 Million by 2027 |
| Growth rate | CAGR of 9.9% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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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 Report Scope
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Application ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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