The cold laser therapy market study published by Future Market Insights offers a comprehensive analysis and focused views on major trends expected to provide shape to future growth prospects. The report provides detailed analyses of the significant drivers, trends, challenges and opportunities prevailing for the forthcoming decade across key geographies and segments.
Demand for Cold Laser Therapy Market is projected to witness steady growth at a 4.4% CAGR during the forecast period (2021-2031). Sales in the Cold Laser Therapy Market are expected to top US$ 165.4 Mn by 2031-end.
Surging cosmetic & non-invasive surgeries and rise in number of aesthetic laser techniques are major factors boosting the market. Growing trend of having flawless skin, coupled with increasing influence of social media will spur the demand for cosmetic procedures. Thereby, increasing the adoption of cold laser therapy.
As prevalence of musculoskeletal disorders and number of dental surgeries are increasing, demand for cold laser therapy is expected to increase. Application of cold laser therapy in pain management and dermatology will spur the sales during the forecast period.
Further, increasing awareness regarding various benefits of cold laser therapy is improving the adoption of cold laser or low-level laser therapy devices. As per FMI, s ales in the cold laser therapy market is expected to top US$ 107.6 Mn by 2021.
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Additionally, key players are increasing research and development expenditure of biotechnology companies is expected to create incremental growth opportunities for market players.
“Growing demand for aesthetic cosmetic procedures and penetration of social media platforms have increased the demand for non-invasive procedures and low-level laser devices. This is expected to increase the sales of cold laser therapy market,” says the FMI analyst.
Key Takeaways from Cold Laser Therapy Market Survey
- In terms of product, continuous laser devices will account for the largest market share of 57% market share in 2021
- Single wavelength cold laser therapy is expected to be the most preferred technology among end-users
- Application of cold laser therapy in dermatology will account for more than 35% of total market share in 2021
- Specialty clinics are expected to be the primary end-users owing to the growing patient pool for cosmetic treatment and pain management
- The U.S. cold laser therapy market will account for over 92% of sales in North America
- Germany is expected to witness incremental growth opportunities for cold laser therapy market owing to the high presence of numerous leading players
- China and India will register high growth across East and South Asia market, exhibiting 6% CAGR and 6.1% CAGR, respectively
Key Drivers
- Increasing application of cold laser therapy in orthopedic injuries will push the sales over the forecast period
- Growing adoption of low-level laser devices among rising number of dental practitioners is expected to fuel the growth in the market
Key Restraints
- High deployment cost and lack of skilled professionals equipped with technical expertise is likely to hamper the sales.
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Competitive Landscape
Key players in cold laser therapy market are focusing on strategic collaborations, coupled with product launches in order to retain their dominance in the industry. Some of the manufacturers are also expand their product portfolio through mergers and partnerships with other key players.
For instance,
- In 2020, Multi Radiance Medical announced the start of non-pharmaceutical clinical trial using photobiomodulation and cold laser therapy to treat intubated COVID-19 patients to improve critical care.
- Apira Science Inc. received approval from the KFDA (Korea Food and Drug Administration), the FDA Thailand, and the Singapore Health Sciences Authority (HSA), in 2018, to bring iGrow’s patented low-level light therapy (LLLT) technology to these markets.
Leading players operating in the cold laser therapy market profiled by FMI include:
- Apira Science Inc.
- BioLight Technologies LLC
- B-Cure laser Australia
- Erchonia Corporation
- Theralase Inc.,
- THOR Photomedicine Ltd
- DJO Global, Inc.
- BTL
- Spectro Analytic Irradia AB
- Photomedex
- Others
More Insights on the Global Cold Laser Therapy Market
Future Market Insights, in its new offering, presents unbiased analysis on the global cold laser therapy market. The study divulges into compelling insights of the cold laser therapy market for the historic period (2016-2020) and for the forecast year (2021-2031) as well. In order to gain better perspective on prominent growth drivers and trends, the market is segmented on the basis of.
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Key Questions Covered in the Cold Laser Therapy Market
- The report offers insight into cold laser therapy demand outlook for 2021-2031
- The market study also highlights projected sales growth for cold laser therapy market between 2021 and 2031
- Cold laser therapy market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Cold laser therapy market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others