The global therapeutic laser market was valued at US$103.664 billion in 2020.
A therapeutic laser system is a drug-free, non-invasive therapy approach that relieves chronic and acute pain while also improving blood circulation. These devices employ LASER laser pulses that penetrate through the skin without creating warmth, injury, or other negative effects. The therapeutic laser system speeds up wound healing and lowers soft tissue inflammation and discomfort. Therapeutic laser therapy is viewed as an alternative, if not a supplement, to standard medication and surgical treatment. Therapeutic laser systems include a long-term therapeutic effect by addressing the fundamental causes of illness disorders.
Increased cancer incidences
The need for a therapeutic laser is increasing due to rising cancer occurrences globally, an increase in the number of operations, and increased awareness of self-care and self-management. Furthermore, increased disposable income, rising healthcare spending, and shorter hospital stays would drive the worldwide therapeutic laser market in the projected decade and beyond. Furthermore, increased disposable income, rising healthcare spending, and shorter hospital stays would drive the worldwide therapeutic laser market in the projected decade and beyond. Moreover, several companies have taken the initiative to launch new innovative products that have propelled the market to grow during the projected period. For instance, Theralase Technology, a Canadian producer of patent laser technologies in both the Anti-Cancer Therapy (ACT) and Medical Laser Technology (MLT) sectors, intends to introduce new, breakthrough pain and cancer solutions in 2021. They've also shown that their primary PDC can eliminate several viruses, including H1N1 flu and Zika.
North America has been a major market for therapeutic lasers until now and is expected to witness a surge in its global market share.
This can be attributed to the growing prevalence of demand for cosmetic surgeries across several countries in this region. Primary cosmetic treatments for veins, skin resurfacing, and hair removal using laser therapy have increased significantly in the region. For instance, according to the American Society of Plastic Surgeons annual report, it was reported that 168,682 laser treatments for veins, 997,245 laser skin resurfacing, and 757,808 laser removal procedures were performed in 2020. Thus, these extensive medical applications and the wide adoption of these procedures have propelled the demand for the therapeutic lasers market in the region. Further, the growing demand for these lasers can also be attributed to an increase in the provision of patents in the region. For instance, in July 2021, Aspen Laser LLC, which is a major medical solutions company, was awarded a new patent by the USPTO (U.S. Patent and Trademark Office). The patent was reported to cover particular laser devices that would be manufactured by the company and sold in the veterinary and medical markets.
Furthermore, major companies in the region have been focused on the implementation of strategic initiatives such as mergers, collaborative agreements, and acquisitions, for the consolidation of their position in the market. For instance, in September 2021, Boston Scientific completed the acquisition of the worldwide surgical business of Lumenis LTD, an energy-based medical solutions company, from an affiliate of BPEA (Baring Private Equity Asia). The surgical business of Lumenis comprised of fibers, premier laser systems, and accessories that are deployed in the otolaryngology and urology procedures. Thus, developments like these are further expected to propel growth in the market.
Market Key Developments
|Market Size Value in 2020||US$103.664 billion|
|Growth Rate||CAGR during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Therapy, Application, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||BTL, ERCHONIA CORPORATION, Theralase® Technologies Inc., Cutting Edge Laser Technologies, BioFlex Laser Therapy, El.En. Group, Lynton Lasers Ltd., Fotona d.o.o., Capillus, LLC, LiteCure, LLC|
|Customization Scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global therapeutic laser market?
A1. Therapeutic Laser Market was valued at US$103.664 billion in 2020.
Q2. Who are the major players in the therapeutic laser market?
A2. Major industry players profiled as part of the therapeutic laser market report are BTL, ERCHONIA CORPORATION, Theralase® Technologies Inc., Cutting Edge Laser Technologies, BioFlex Laser Therapy, and El.En. Group among others.
Q3. How is the global therapeutic laser market segmented?
A3. The global therapeutic laser market has been segmented by therapy, application, and geography.
Q4. What factors are anticipated to drive the therapeutic laser market growth?
A4. The need for a therapeutic laser is increasing due to rising cancer occurrences globally, an increase in the number of operations, and increased awareness of self-care and self-management.
Q5. Which region holds the largest share of the therapeutic laser market?
A5. North America holds a significant share of the therapeutic laser market owing to the growing prevalence of demand for cosmetic surgeries across several countries in this region.
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL THERAPEUTIC LASER MARKET, BY THERAPY
5.2. Carbon Dioxide Laser
5.3. YAG (yttrium aluminum garnet) Laser
5.4. Pulsed Dye Laser
5.5. Argon Laser
5.6. Low level laser therapy (LLLT)
6. GLOBAL THERAPEUTIC LASER MARKET, BY APPLICATION
6.2. LASIK or Laser Eye Surgery
6.3. Teeth Whitening
6.4. Cosmetic Scar, Tattoo or Wrinkle Removal
6.5. Tumor Removal
7. GLOBAL THERAPEUTIC LASER MARKET, BY GEOGRAPHY
7.2. North America
7.3. South America
7.4.3. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.2. ERCHONIA CORPORATION
9.3. Theralase® Technologies Inc.
9.4. Cutting Edge Laser Technologies
9.5. BioFlex Laser Therapy
9.6. El.En. Group
9.7. Lynton Lasers Ltd.
9.8. Fotona d.o.o.
9.9. Capillus, LLC
9.10. LiteCure, LLC
Theralase® Technologies Inc.
Cutting Edge Laser Technologies
Lynton Lasers Ltd.
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