Laser Therapy Industry Analysis With Top Trends, Major Players, Demand, Emerging Growth and Forecast to 2023

MRFR is the Leading Brand in The Research Company who Recently Published Global Laser Therapy Market Research Reports which includes Study of Growth Overview, Regional Analysis, Top Players, Major Drivers, Upcoming Trends and Foreseen to 2023.

Pune, India - April 2, 2019 /MarketersMedia/ —

Laser Therapy Market – Highlights

Market Research Future (MRFR) anticipates strong CAGR of 9.2% in the global laser therapy market over the forecast period of 2017-2023. The expansion of the global laser therapy is the result of various market dynamics, out of which, the surging prevalence of diseases such as cataract and arthritis bears profound weightage. Laser therapy is the standard line of treatment in cases of cataract. Laser-based ophthalmology is highly preferred over other methods of treatment. YAG LASER, excimer LASER, femtosecond LASER, and others are the most commonly used lasers in ophthalmology. The widespread prevalence of cataract, as well as arthritis, promote the growth of the global laser therapy market. Expanding base of old population complements this factor since the elderly populace is more prone to acquiring diseases such as arthritis and cataract which induces additional demand for laser therapy. Heightened demand for minimally-invasive and non-invasive procedures is a major drive behind the growth of the market. Consumers are highly inclined towards medical procedures which do not involve incisions and cuts. Additionally, laser therapy is extensively used in dermatology and cosmetology. Skyrocketing demand for aesthetics also encourages the growth of the global laser therapy market. Use of laser therapy in dentistry is also a key market influencer. On the contrary, the growth of the global laser therapy market might be impeded by high costs associated with laser therapy.

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Top Players:

The key players for the global laser therapy market are Angiodynamics, Inc. (U.S.), Biolase Inc. (U.S.), Valeant (Canada), IRIDEX Corp. (U.S.), Cutera (U.S.), Coherent, Inc. (U.S.), Alma Lasers (Israel), and others.

Segments:

The global laser therapy market has been segmented based on type and application.

By type, the global laser therapy market has been segmented into diode lasers, solid state lasers, gas lasers, dye lasers, and others.

By application, the global laser therapy market has been segmented into surgery, dermatology and aesthetics, dental, and others. The surgery segment is further segmented into urology, ophthalmology, and others.

Regional Analysis:

The Americas dominate the global laser therapy market owing to a large patient population, strong government support for research & development, high healthcare spending, and growing geriatric population. In 2015, according to the Centres for Disease Control and Prevention, in the U.S. the total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which accounted for USD 3.2 trillion.

Europe is the second leading region in the global laser therapy market, which is followed by Asia Pacific. Asia Pacific is the fastest growing market for laser therapy. According to the Royal National Institute of Blind People in 2016, the number of people living with sight loss are expected to reach 2.7 million by 2030 due to possible cases of refractive error, cataract, glaucoma, and others. 

The presence of a huge patient population and continuously developing economies like India and China boosts the market growth within the region. Moreover, growing geriatric population within the region fuels the market growth. According to a study conducted by International Journal of Advanced Medical and Health Research in 2015, in India, the prevalence of blindness was 1.1%, the principal cause being cataract, affecting over 9 million people accounting for 62.6%. 

The Middle East and Africa contribute the least to the growth of the global laser therapy market. The Middle East dominates the market in this region due to the presence of developed economies like Qatar, Kuwait, Saudi Arabia, and others within the region. Whereas, Africa holds the least share of the global market due to the limited availability of medical facilities, poor economic condition and stringent government policies.

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