Dublin, Aug. 17, 2020 (GLOBE NEWSWIRE) — The “Laser Therapy Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Type; Application; End User, and Geography” report has been added to ResearchAndMarkets.com’s offering.
The global laser therapy market is expected to reach US$ 3,514.02 million by 2027 from US$ 1,665.65 million in 2019; it is estimated to grow at a CAGR of 9.9% during 2020-2027.
Factors such as broad range of medical applications and growing number of product launches drive the growth of the market. However, the high cost of laser therapy and devices is the major factor hindering the market growth.
The wide adoption of this therapy in the medical field is ascribed to limited health risks associated with it compared with those with surgical procedures. Moreover, it is a minimally invasive procedure and has broad applications in oncology, ophthalmology, aesthetics, dental, cardiovascular, and pain management, among others.
In oncology, laser therapy is used along with other treatments such as surgery, chemotherapy, or other radiation therapies. Vaginal cancer, vulvar cancer, basal cell skin cancer, cervical cancer, and penile cancer, among others, can be treated with laser therapy. In addition, technological advancements have enabled the painless sealing of nerves using laser therapy after surgery; its ability to seal the injured sites helps prevent blood loss.
In addition, laser therapy is widely accepted in aesthetic applications such as removal of hair, tattoo, moles, birthmarks, warts, and sunspots. Further, the use of laser therapy in primary veincosmetic treatments, skin resurfacing, and hair removal has significantly increased. According to the American Society of Plastic Surgeons (ASPS) annual report, 218,929 laser treatments for veins, 587,903 laser skin resurfacing, and 1,086,830 laser hair removal procedures were performed in 2017 in the US.
The global laser therapy market is segmented on the basis of type, application, end user, and geography. Global laser therapy market, based on type is segmented into, solid, liquid, gas and diode. In 2019, the diode segment held the largest share of the market, by type. Moreover, the same segment is expected to register the fastest CAGR during the forecast period. The laser diode market is expected to witness lucrative growth owing to its rapid adoption in photodynamic treatments and aesthetic procedures.
Key Topics Covered
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Laser Therapy Market – By Type
1.3.2 Laser Therapy Market – By Application
1.3.3 Laser Therapy Market – By End-user
1.3.4 Laser Therapy Market – By Geography
2. Laser Therapy Market – Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Laser Therapy Market Landscape
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 Asia Pacific- PEST Analysis
4.2.4 Middle East and Africa – PEST Analysis
4.2.5 South & Central America
4.3 Expert Opinion
5. Laser Therapy Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Broad Medical Applications
5.1.2 Growing Product Launches
5.2 Market Restraints
5.2.1 High Cost of Laser Therapy and Devices
5.3 Market Opportunities
5.3.1 Developments in Laser Technology
5.4 Future Trends
5.4.1 Adoption of LLLT
5.5 Impact Analysis
6. Laser Therapy Market – Global Analysis
6.1 Global Laser Therapy Market Revenue Forecast and Analysis
6.2 Global Laser Therapy Market, By Geography – Forecast and Analysis
6.3 Market Positioning of Key Players
7. Laser Therapy Market Analysis – by Type
7.2 Laser Therapy Market, By Type, 2019 & 2027 (%)
8. Laser Therapy Market Analysis – by Application
8.2 Laser Therapy Market, By Application, 2019 & 2027 (%)
8.3 Dermatology and Aesthetics
8.9 Other Applications
9. Laser Therapy Market Analysis – by End-user
9.2 Laser Therapy Market, By End-user, 2019 & 2027 (% Share)
9.4 Specialized Clinics
9.5 Ambulatory Clinics
10. Laser Therapy Market – Geographic Analysis
10.1 North America: Laser Therapy Market
10.2 Europe: Laser Therapy Market
10.3 Asia Pacific: Laser Therapy Market
10.4 Middle East and Africa: Laser Therapy Market
10.5 South and Central America: Laser Therapy Market
11. Impact of COVID-19 Pandemic on Global Laser Therapy Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment Of COVID-19 Pandemic
11.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.4 Rest of the World: Impact Assessment of COVID-19 Pandemic
12. Laser Therapy Market – Industry Landscape
12.2 Growth Strategies Done by the Companies in the Market, (%)
12.3 Organic Developments
12.4 Inorganic Developments
13. Company Profiles
13.1 Alma Lasers
13.2 Coherent Inc.
13.3 Biolitec Group
13.4 BIOLASE Inc.
13.5 IPG Photonics Corporation
13.6 Boston Scientific Corporation
13.8 Meditech International Inc. (BIOFLEX Laser Therapy)
13.9 Baring Private Equity Asia Ltd. (Lumenis)
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