Laser Therapy Devices Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032
Published on: 2024-08-03 | No of Pages : 240 | Industry : Healthcare
Publisher : MIR | Format : PDF&Excel
Laser Therapy Devices Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032
Laser Therapy Devices Market Size
Laser Therapy Devices Market size is anticipated to proliferate between 2024 and 2032 attributed to the increased use of cold laser therapy, which uses small amounts of light energy to stimulate recovery. The adoption of laser therapy devices by doctors and healthcare professionals to address scars and wounds, along with their versatile applications such as tissue coagulation and malignancy elimination, fuels demand for these advanced medical technologies.
Laser Therapy Devices Market Trends
One notable trend is the integration of AI & ML algorithms into laser therapy devices, enabling personalized treatment plans and enhanced precision in targeting specific tissue types. In October 2023, Abbott introduced its vascular imaging platform in India, featuring Ultreon 1.0 Software, which combined optical coherence tomography (OCT) with AI to provide clinicians with a comprehensive view of blood flow and blockages in coronary arteries. Moreover, there is a growing preference for portable and handheld laser devices, catering to home-based and outpatient treatments. A notable expansion in applications beyond traditional dermatology, with laser therapy devices increasingly utilized in fields such as dentistry, ophthalmology, and oncology, will shape the market outlook.
Laser Therapy Devices Market Analysis
The hospital segment is set to record promising progression through 2032, due to the presence of cutting-edge laser equipment in these settings. A rise in hospitalizations for complicated operations including cancer-related processes and cardiovascular problems is expected to influence product demand. As per NIH, 1,958,310 new cancer cases and 609,820 cancer deaths were projected in the United States n 2023. Over the next few years, the availability of beneficial reimbursement policies and improved hospital infrastructure are poised to drive market expansion.
The ophthalmology segment is projected to generate large revenues by 2032, driven by precise and infection-free treatment of a variety of eye conditions. It is interesting that several laser procedures can be carried out without anesthesia and with little discomfort. These laser surgeries have multiple benefits including being reasonably affordable, highly accurate, and safe while effectively destroying the targeted tissue for a beneficial effect on the eye.
North America laser therapy devices market size is expected to grow notably over 2024 and 2032, owing to new product developments in the region. There is increasing adoption of non-invasive treatment options for various medical conditions, including pain management, dermatology, and rehabilitation. Additionally, advancements in technology have led to the development of more efficient and precise laser therapy devices, enhancing their efficacy and expanding their applications across different medical specialties. Moreover, the rising prevalence of chronic diseases and the aging population in the region have heightened the demand for alternative treatment modalities.
Laser Therapy Devices Market Share
The laser therapy devices industry players include
- Iridex Corporation
- Angiodynamics
- IPG Photonics Corporation
- Biolase Inc.
- Boston Scientific Corporation.
These companies are focused on expanding their market footprint by diversifying their product portfolio and making strategic moves with other players.
Laser Therapy Devices Industry News
- In January 2022, the IRIDEX consensus paper investigated best practices for MicroPulse transscleral therapy for glaucoma.
- In December 2023, Belkin Vision, an Israeli medical devie firm, obtained 510(k) clearance from the US Food and Drug Administration (FDA) for its glaucoma laser, known as the Eagle device.