About the Report
Minimally invasive surgical procedures have entered the limelight within the global healthcare space. Incidences of surgical wounds and corresponding infections from conventional procedures have necessitated a shift towards alternative approaches. This has boded well for the laser therapy devices market.
Medical practitioners are exhibiting a high tilt towards low level laser therapy (LLLT), amid a growing perception of it improving patient outcomes and reducing incidences of laser surgery associated side-effects in the long-run. Moreover, maximum applications are expected in cancer treatment, addressing ophthalmic disorders and aesthetics medicine.
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for laser therapy devices. The report tracks the global sales of laser therapy devices in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the healthcare industry in general, and laser surgery devices in particular.
How Historical Outlook of Laser Therapy Devices Market Compares with Future Projections?
According to FMI, the laser therapy devices market has been experiencing a substantial boost amid the increasing applicability rates across multiple therapeutic areas. However, maximum gains have been registered across the oncology, ophthalmology and aesthetic medicine domains. Furthermore, regulatory authorities have been granting authorizations to various laser surgical alternatives.
During the COVID-19 pandemic, research was ongoing so as to determine whether laser therapy treatment would be effective in combating viral pneumonia. Some of the studies conducted yielded largely positive results, with improvements in oxygen saturation levels being reported in some patients. Hence, it was expected that laser therapy devices demand would surge during the time period.
In the short-run, the global laser therapy devices market is expected to post significant gains, reaching a valuation of nearly US$ 2 billion by 2022, expanding at a CAGR of 4%. Long-term prospects are also expected to remain largely positive, with manufacturers likely to introduce a slew of advanced laser therapy devices.
How is Growing Preference for Minimally Invasive Surgery Catapulting Growth?
Globally, there has been an incline in the number of minimally invasive surgical procedures, mostly with the objective of reducing patient trauma. Minimally invasive surgeries require minimal incisions as deployment of advanced instruments permit surgeons to work without dissecting any body part. As minimally invasive techniques are continually sought for different pathologic processes, use of lasers is becoming highly popular in modern medicine.
Besides their practical usefulness in the operating room, lasers have a wide range of applications in ophthalmology, lithotripsy, oncology and dermatologic and cosmetic procedures. Laser lithotripsy has proven highly effective in the fragmentation of urinary and biliary stones. Lasers can accomplish this by inducing a shockwave (photodermal effect). Likewise, in neurosurgery, laser interstitial thermal therapy (LITT) amongst patients who are not ideal surgical candidates.
Furthermore, laser therapy is also being deployed for the ablation of conductive pathways. Today, the laser balloon catheter is a highly popular endoscopic ablation system (EAS) commonly used to treat atrial fibrillation. The device consists of a catheter with a compliant balloon at its tip which is continuously flushed with deuterium oxide, and is inserted into the left atrium. Such extensive applications are providing numerous laser therapy device manufacturers to increase their presence across key regions.
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How Lucrative is the Opportunity across Oncology Treatment?
According to the Cancer Atlas, there were an estimated 18.1 million active cases, with over 9 million cancer deaths in 2018. Additionally, nearly 44 million individuals persons living with cancer that same year who were diagnosed within the previous’ five years. It is projected that this burden is expected to rise by over 60% by 2040.
Hence, healthcare providers are introducing highly advanced therapeutics. A host non-invasive procedures have been developed in recent years, including laser therapy, which have proven highly effective in reducing the incidence. Lasers can be used in two main ways: to shrink or destroy a tumor with heat, or to activate a chemical (also known as a photosensitizing agent), which kills only cancer cells.
Though lasers can be used alone, they are often used with other cancer treatments, such as chemotherapy or radiation therapy. Such heightened applications are opening up doors for numerous manufacturers. Prominent oncology grade laser systems players include BIOSPEC (Russia), Lynton Lasers Ltd. (England), Modulight USA Inc. and Pioneer Optics Co. (USA) among others.
How are Aesthetic Surgeries Driving Laser Therapy Devices Demand?
As people become increasingly conscious about their appearance, investments in aesthetic surgeries to keep their bodies in shape are increasing. According to the American Society for Aesthetic Plastic Surgery (ASAPS), between 2012 and 2017, the top 5 cosmetic procedures include breast augmentation procedures (4.1%), liposuction (58%), eyelid surgery (33.5%), breast lift (57.5%) and tummy tuck (27.8%). As of 2017, Americans spent over US$ 6 billion on surgical cosmetic procedures.
A majority of the aforementioned surgical procedures have now shifted toward laser therapeutics, with maximum emphasis on improving safety and efficacy of such procedures. Prominent manufacturers’ primary emphasis is on laser device innovations. For instance, Cutera’s Dermastat handpiece has helped improve it’s excel® V+ device outcomes, which deploys laser technology to treat vascular and pigmented lesions.
The device’s power has been increased to accommodate a larger spot size, and is equipped with thicker cooling windows, rendering it more comfortable and safer. Similarly, Lutronic’s 1927 mm thulium laser lase MD deploys a CO2 or erbium YAG (er:YAG) laser which helps in effective skin resurfacing.
Undesired Dermatological Problems to Limit Uptake of Laser Therapy Devices
Burns, scarring, dyspigmentation, ocular injury and infection are highly commonplace in the aftermath of several laser therapies. Amongst these, infections are of the utmost concern as they can disrupt the barrier function of the skin, particularly after ablative procedures. Cutaneous infections can present atypically after ablative resurfacing.
Moreover, Herpes simplex virus (HSV) reactivation is commonly seen after laser treatments, particularly in the perioral skin. Attributed to such incidences, patients are apprehensive about undergoing advanced laser surgeries, which is anticipated to limit sales of laser therapy devices to a significant extent.
How is Cold Laser Therapy driving Sales across the US?
In recent years, the US has experienced a major uptick in the number of laser surgical procedures, most notably in ophthalmology. According to estimates published by QualSight, the number of LASIK vision correction procedures in the US through 2019 reached 23 million, with myopia surgeries comprising the bulk of all surgeries.
It is projected that over 30 million Americans suffer from myopia, while the next major condition is cataract, affecting over 24 million people over the age of 40. This high incidence is opening up opportunistic prospects for cold laser therapy device manufacturers across the region, also known as low-level laser therapy (LLLT) or photodynamic therapy (PDT).
Besides these common ailments, cold laser therapy is also used to treat wet macular degeneration and central serous chorioretinopathy. Additionally, the treatment is being extrapolated to numerous other ailments, including musculoskeletal pain treatment. Genesis Medical is a pioneer in offering cold laser therapy skin treatments across the US, offering ultherapy, titan laser treatment, limelight laser (IPL) and laser vein removal among others.
What Opportunities Abound across the UK Market?
The UK market is poised to open up significant growth frontiers, as healthcare providers make efforts to bolster LLLT approaches. Recently, in March 2021, B-Cure Laser, a popular handheld LLLT device, made its debut across the landscape. With over 28 million chronic pain patients, the device is likely to find popularity as an effective at-home, alternative treatment option.
According to a popular study, incidence of chronic pain across the UK increases with age, affected up to 62% of the population aged 75 and above. Additionally, nearly 8 million people are moderately or severely limited by the pain. In addition, laser therapy is also deployed to treat soft tissue and sports injuries such as muscle and ligament strains.
Omega Laser Systems is a prominent face in the UK laser therapy systems market. The company offers LLLT to reduce pain induced by rheumatoid arthritis. After a series of 82 laboratory trials and 11 randomized clinical trials. 87% of them yield positive results. Hence, the solution has been widely approved for treatment across the country. It also offers treatment for wound healing procedures.
How is Germany Anticipated to Contribute to Market Growth?
According to a National Center for Biotechnology Information study, there is a very high prevalence rate of dermatological disorders throughout Germany. The study, which was conducted in 2008, included a sample size of more than 48,000 persons, with a mean age of 43.2 years.
End-results revealed the following prevalence rates: 8.9% contact eczema, 4.2% acne, 3.4% seborrheic eczema, 2.2% rosacea, 2.1% psoriasis vulgaris, 1.4% atopic eczema and 0.07% lichen ruber. In total, dermatological findings needing treatment were observed in 19% of the study cohort; 1.3% of the participants presented a suspicious finding requiring diagnostics for skin malignoma.
Consequently, healthcare providers have been incorporating laser therapy treatment approaches to eradicate this burden. Hautmedizin Bad Soden is one of the frontrunners in the German laser therapy which offers treatment for dermatological and aesthetic purposes. It employs the erbium:YG laser, the ablative CO2 laser, fractionated CO2 laser and yellow laser amongst other approaches.
Why are Manufacturers Likely to Target the French Market?
The laser therapy devices market is anticipated to perform significantly well across France, mostly attributed to the country’s superior position in the global healthcare industry. Owing to the scope for conducting excellent scientific and clinical research, prominent manufacturers are expected to intensify their presence across the region.
The National Institute for Health and Medical Research and the National Center for Scientific Research are two major organizations which are assisting in strengthening the French healthcare industry by providing numerous grants for funding clinical studies to verify the efficacy of multiple surgical approaches to various ailments. Moreover, in 2018, the French Investment Bank created a €200 million fund entirely dedicated to healthcare startups.
Owing to these developments, forays into laser therapy devices and laser treatment is accelerating at an impressive pace. Promises are especially bright across the aesthetics domain, with players such as ADSS Beauty Equipment, Quantel Medical and LSO Medical having a robust presence throughout the country.
How a Flourishing Medical Aesthetics Industry is Broadening Chinese Market Growth?
China is likely to post lucrative gains with respect to laser therapy devices throughout the Asia-Pacific, particularly across medical aesthetics. As disposable incomes rise, people experience a higher standard of living, motivating them to spend more on cosmetically enhancing surgeries, providing a wide platform for the introduction of various therapeutic approaches.
According to statistic from the Health Commission, the total revenue of the domestic aesthetic medicine service market is poised to reach US$ 55.4 billion in 2023. Likewise, major Chinese pharmaceutical companies are also augmenting investments in the aesthetics medicine domain. All these factors are expected to widen laser therapy devices sales across the East Asian giant.
Presently, micro-cosmetics is the core focus of Chinese medical aesthetics, generating three-fifths of the total income. By 2019, more than seven out of ten aesthetic procedures involved non-surgical ones. Moreover, more than half of all cases are likely to involve plastic surgery amongst the younger population.
Why are Gas Laser Therapy Devices Acquiring Popularity?
By device type, gas laser therapy products are anticipated to generate substantial demand, attributed to its extensive applications across ENT, gynecology, plastic and maxillofacial surgery, and urology. The most common type is the argon laser, mostly at wavelengths ranging between 488 and 514 nm.
Argon lasers are highly effective in coagulating blood vessels, and can be used in microsurgeries on the ear, bleeding ulcers of the stomach and duodenum, and the removal of vascular lesions or polyps. It is also effective in removing small skin tumors, both benign and malignant.
Will Hospitals Remain Primary Laser Therapy Devices End-Users?
As per FMI’s analysis, hospital-grade laser therapy devices will experience considerable momentum, registering a CAGR exceeding 4% in the short-run, likely to be valued at over US$ 400 million. Demand is likely to be strong amid increasing hospitalization rates for key surgical procedures in the urology, dermatology and cardiovascular domains.
However, demand is expected to stay strong amongst the specialty clinics segment, projected to generate over half of the total revenue share. Increasing preference by patients to visit specialized centers for specific ailments is projected to increase adoption of laser therapy devices across specialty clinics.
Why does Ophthalmology Stand to Glean Maximum Benefits?
Based on application, the ophthalmology segment is expected to be the major beneficiary of laser therapy devices. It is likely to surpass a value of US$ 500 million until 2022. Increasing number of ophthalmic procedures to treat such disorders as glaucoma, cataract and retinopathy are widening adoption of laser surgeries, thus stimulating growth.
Prominent manufacturers such as Carl Zeiss AG are at the forefront of ophthalmic laser therapy devices manufacturing. The company offers a wide range of photocoagulation lasers, photodisruption lasers and combi-lasers for posterior and anterior treatment. Likewise, Johnson & Johnson’s CATALYSTM precision laser system provides a 3D OCT imaging technology to facilitate accurate laser incisions.
According to FMI’s analysis, prominent laser therapy devices manufacturers operating within the landscape include*:
Offering new product ranges is one of the primary expansion strategies adopted by key laser therapy devices manufacturers, as are tactics such as strategic mergers or acquisitions, collaborations and partnerships with important stakeholders.
In 2018, Boston Scientific Corporation acquired NxThera to incorporate the latter’s Rezum® minimally invasive therapy (MIT) for patients with benign prostatic hyperblasia (BPH). This acquisition marked a further expansion of Boston’s Urology and Pelvic Health business. Moreover, the acquisition of Rezum® compliments the company’s existing BPH treatment which includes the GreenLight XPSTM Laser Therapy system and holmium laser platforms.
With regard to product offerings, IPG Photonics Corporation offers laser therapy treatment solutions across the ophthalmology, dermatology, surgical, dentistry and medical imaging segments respectively. The company offers three categories of lasers: fiber lasers (CW and pulsed), Raman lasers (VIS and IR) and Mid-IR hybrid lasers. Additionally, it also offers pico and femtosecond pulsed lasers at 1 and 1.5 µm.
In July 2020, Lumenis Ltd. launched its next-generation MOSESTM 2.0 holmium laser technology, helping in redefining urology care. This development is a follow up to the 2017-launched MOSES technology developed to improve the efficiency of urinary stones and enlarged prostate procedures. This technology offers 85% greater stone ablation in lithotripsy procedures and same-day discharge and catheter-free procedures for BPH.
- Boston Scientific Corporation
- IPG Photonics Corporation
- Lumenis Ltd.
- Coherent Inc.,
- Biolitec AG
- Hologic Inc.
- Alma Lasers Ltd.
- Fotona D.D
- Danaher Corporation
- Thermo Fisher Scientific Inc.
*This list is indicative - full details about laser therapy devices manufacturers are available upon request
Laser Therapy Devices Market - Report Scope
Historical Data Available for
US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered
North America, Latin America, Europe, Middle East & Africa, APEJ and Japan
Key Countries Covered
U.S., Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, Nordics, China, India, Thailand, Malaysia, Singapore, Australia, Japan, GCC, Israel, Nigeria and South Africa
Key Segments Covered
Device Type, End-User and Application
Key Companies Profiled
Market Overview, Segmental Analysis, Regional Profiling and Competition Analysis
Customization & Pricing
Key questions answered in the report
How will the laser therapy devices market expand in 2021 and beyond?
The global laser therapy devices market is anticipated to experience credible gains through 2021, attributed to a shift towards minimally invasive yet high precision-based surgeries, with a high inclination towards low level laser therapy
Which key factors shall drive the automotive hinges market growth?
Rising applicability across the oncology, aesthetics medicine and ophthalmology segments as well as the constant endeavor towards incorporating advanced therapeutic approaches by key healthcare settings are all anticipated to propel the laser therapy devices market growth forward
Which is the most likely laser therapy devices manufacturing hub through 2021?
The US is anticipated to experience high growth, owing to growing emphasis to incorporate laser surgeries for ophthalmic procedures. Also, France is likely to emerge as a prominent manufacturing hub, given its apex position in healthcare research which is spawning numerous clinical and research studies for laser therapies
Which prominent players operate within the global laser therapy devices market?
Boston Scientific Corporation, IPG Photonics Corporation, Lumenis Ltd., Coherent Inc., Biolitec AG, Hologic Inc., Alma Lasers Ltd., Fotona D.D, Danaher Corporation and Thermo Fisher Scientific Inc. are some leading laser therapy devices market players
Enquiry before Buying
- Is the market research conducted by Future Market Insights?
Yes, the report has been compiled by expert analysts of Future Market Insights, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
- What research methodology is followed by Future Market Insights?
FMI follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
- Who are the respondents for primary research?
FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
- What are the sources of secondary research?
FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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Key Segments Covered
- Solid-State Laser
- Gas Laser
- Liquid Laser
- Semiconductor Laser
- Specialized Clinics
- Ambulatory Surgical Centers
- Other End-Users
- North America (US and Canada)
- Latin America (Brazil, Mexico, Argentina and Rest of LATAM)
- Europe (Germany, UK, France, Spain, Italy, Nordics and Rest of Europe)
- APEJ (China, India, Malaysia, Thailand, Singapore, Australia and Rest of APEJ)
- Middle East & Africa (GCC, South Africa, Nigeria, Israel and Rest of MEA)