Cold Laser Therapy Market are set to witness growth at a CAGR of 4.4% and be valued at around US$ 180.8 million by 2033

The global Cold Laser Therapy Market is anticipated to be worth US$ 117.1 million by the end of 2023 and to grow at a CAGR of 4.4% to be worth US$ 180.8 million by the end of 2033. In 2023, continuous laser devices are predicted to have the largest market share worldwide, with an estimated share of about 55.6%, according to a recent study by Future Market Insights.

Surging cosmetic and non-invasive surgeries, as well as an increase in the number of aesthetic laser techniques, are major factors driving the market. The growing desire for flawless skin, combined with the growing influence of social media, will drive up demand for cosmetic procedures. As a result, cold laser therapy is becoming more popular.

Demand for cold laser therapy is expected to rise as the prevalence of musculoskeletal disorders and the number of dental surgeries rise. During the forecast period, sales will be boosted by the use of cold laser therapy in pain management and dermatology.

Additionally, key players are increasing research and development expenditure of biotechnology companies is expected to create incremental growth opportunities for market players.

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“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

Low-Level Laser Therapy (LLLT), also known as low-level laser therapy (LLLT) or photobiomodulation therapy, is a non-invasive medical treatment that uses low-level lasers or light-emitting diodes (LEDs) to stimulate healing and reduce pain and inflammation in various parts of the body.

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Key Restraints

• High deployment cost and lack of skilled professionals equipped with technical expertise is likely to hamper the sales.

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

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Key Market Segments Covered in Cold Laser Therapy Industry Research

Product:

• Continuous Laser Devices
• Pulse Laser Devices
• Combination Laser Devices

Technology:

• Single Wavelength Cold Laser Therapy Devices
• Multiple Wavelength Cold Laser Therapy Devices

Application:

• Pain Management
• Arthritis
• Wound Healing
• Nerve Regeneration
• Dermatology
• Musculoskeletal
• Others

End User:

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Homecare Settings

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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