by Companies Increase Availability of FDA-approved Cold Lasers to Improve Patient Outcomes
Cold laser therapy is gaining popularity as a non-invasive therapy for pain management. Healthcare providers are increasing efforts to incorporate FDA-approved cold lasers to improve patient outcomes. For instance, AICA Orthopedics-a chiropractor in Georgia, U.S., has invested in state-of-the-art class 4 cold lasers that are FDA-approved and most effective among patients. As such, instruments product segment is expected to lead the cold laser therapy market. The cold laser therapy market is projected to reach ~US$ 134 Mn by the end of 2030.
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On the other hand, companies in the cold laser therapy market are targeting physical therapists, psychiatrists, and occupational therapists to increase the adoption of cold lasers. In another instance, cold therapy accessories are predicted for exponential growth during the forecast period. Companies are increasing R&D in therapies that do not heat up the tissue. Thus, advanced cold laser therapies are increasingly replacing traditional laser therapies.
Wearable Devices Gain Prominence in Home Care Settings
Wearable technology is marking a prominent footprint in the healthcare industry. Companies in the cold laser therapy market are developing wearable devices to provide pain relief to patients in home care settings. For instance, Penta Medical-a provider of wearable technology in medical devices, gained FDA approval for its latest innovation, the PentaVO wearable cold laser therapy device, for the treatment of inflammation-related chronic and acute injuries. Thus, companies in the cold laser therapy market are expanding their sales and marketing strategies to bolster sales of wearable devices. As such, companies are targeting sports teams, physical therapists, and orthopedic doctors to increase the uptake of wearable devices.
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There is a growing demand for therapies that reduce downtime post laser therapy. Hence, healthcare providers are investing in handheld lasers that provide patient relief. For instance, Premier Health Chiropractic & Wellness, a chiropractor in Texas, U.S., has gained expertise in painless and non-invasive cold laser therapy that reduces downtime depending on the severity of the patient’s health issue.
UV-free Devices Hold Promising Potential in Treatment of Atopic Dermatitis
Cold laser therapy is increasingly replacing traditional chiropractic and other manipulative treatment methods. It has been found that cold laser therapy boosts the body’s natural healing process. Thus, the advantages of cold lasers are growing popular among patients worldwide. As such, cold lasers are being pervasively used in the field of dermatology. This is evident since the dermatology application segment of the cold laser therapy market is predicted for aggressive growth during the forecast period. Hence, healthcare companies are increasing the availability of cold lasers for the treatment of inflammatory skin diseases such as psoriasis and atopic dermatitis.
Moreover, conventional UV irradiation poses the risk of skin cancer and accelerated skin aging among patients. Hence, companies in cold laser therapy market are increasing research to develop UV-free devices for the treatment of skin diseases. However, limited number of quality reports justifying the efficacy of these devices poses as a restraint for companies in the market. Hence, companies are increasing their research efforts to establish widespread adoption of cold lasers for treatment of atopic dermatitis.
Dentistry and Orthopedics Offer Growth Opportunities
Apart from dermatology and orthopedics, companies in the cold laser therapy market are tapping opportunities in dentistry to meet patient requirements. Moreover, among applications, dentistry segment of the cold laser therapy market is anticipated for significant growth during the forecast period. Thus, companies are increasing production capacities of cold lasers to offer healing and pain relief for patients with dental problems.
On the other hand, cold laser therapy is popular in orthopedics. An alarming rate of musculoskeletal pain due to rheumatoid arthritis and muscle strain have created a demand for cold laser devices. Innovative technologies such as super pulsed laser and pulsed red light are acquiring prominence in technologically sound devices. Thus, a synergetic effect of these technologies is found to boost clinical numbers. Companies are increasing research in bio-stimulation to effectively convert laser light into cellular energy through enhanced ATP (Adenosine Triphosphate) synthesis.
Analysts’ Viewpoint
Cold laser therapy is being highly preferred by patients, since the novel therapy is gaining popularity as a ‘drug-free’ treatment option for joint and muscle pain. Companies and clinicians are increasingly recommending regular use of cold lasers for effective pain relief and enhanced outcomes. Healthcare providers are offering personalized treatment plans to patients to reduce incidence of downtime post therapy.
Wearable devices are revolutionizing the cold laser therapy market. However, side effects such as burns and blistering due to broken wires in devices pose as a barrier for its large-scale adoption. Hence, companies should increase research to develop technologically sound devices with super pulsed laser and pulsed broadband infrared emitting diodes to reduce side effects in patients.
Cold Laser Therapy Market: Overview
This report analyzes the current scenario and future growth prospects of the global cold laser therapy market
The report provides an elaborate executive summary, which provides a snapshot of various segments of the global cold laser therapy market. It also provides information and data analysis of the global cold laser therapy market with respect to segments based on product, application, end user, and region.
The overview section of the report provides a detailed qualitative analysis of drivers, restraints, and opportunities that impact the global cold laser therapy market
The report includes company profiles, which provide information about business strategies, product portfolios, and financials of players operating in the global cold laser therapy market and competitive landscape of the market
The report on the global cold laser therapy market offers attractiveness analysis of different segments of the market across regions
The last section of the report comprises quantitative and qualitative analysis on market share/position of key players operating in the global cold laser therapy market. It analyzes key competitive strategies adopted by major market players, thereby presenting a thorough understanding of the competition scenario in the global cold laser therapy market.
Cold Laser Therapy Market: Key Segments
In terms of product, the global cold laser therapy market has been bifurcated into instruments and accessories. The instruments segment accounted for major market share in 2018.
Rise in the number of pain disorders, skin conditions, and dental ailments leading to significant increase in demand for treatment with laser instruments and rise in prevalence of chronic pain are projected to fuel the growth of the instruments segment during the forecast period. One in 3 people in the U.S. is affected by chronic pain each year. Musculoskeletal pain is the major factor for missed work or school days.
Based on application, the global cold laser therapy market has been classified into orthopedics, dermatology, dentistry, neurology, laser acupuncture, and others
The dermatology segment accounted for the largest market share in 2018. Growth of the segment can be attributed to significant number of ongoing research studies to determine new applications of cold laser therapies in skin care, increase in burden of skin diseases, and development of technologically advanced non-invasive therapies. According to the American Academy of Dermatology, skin diseases is a major and serious public health concern for the population in the U.S. and cost at least US$ 75.0 Bn to treat in a year.
Based on end user, the global cold laser therapy market has been classified into hospitals, specialty clinics, and home care. The specialty clinics segment accounted for major market share in 2018 and the trend is anticipated to continue in the near future. The home care segment is expected to grow at a rapid pace owing to increase in patient preference for laser devices for home use and rise in prevalence of pain disorders.
Market size and forecast for each of the segments of the global cold laser therapy market have been provided for the period from 2017 to 2030. The CAGRs of the segments of the global cold laser therapy market have also been provided for the period from 2019 to 2030, considering 2018 as the base year.
Cold Laser Therapy Market: Regional Outlook
In terms of region, the global cold laser therapy market has been segmented into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region of the global cold laser therapy market has been divided into major countries/sub-regions.
The report provides the size and forecast of the cold laser therapy market in each region and country/sub-region for the period from 2017 to 2030. The CAGR of the market in each of these regions and countries/sub-regions has also been provided for the period from 2019 to 2030. The study also covers the market competition scenario in these regions.
Companies Covered in Cold Laser Therapy Market Report
Key players in the global cold laser therapy market have been profiled based on attributes such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
Major companies profiled in the global cold laser therapy market report are
- THOR Photomedicine Ltd.
- Erchonia Corporation
- Theralase Technologies, Inc.
- BioLight Technologies LLC
- Apira Science
- Meditech International, Inc.
- DJO Global, Inc.
- BTL
- Good Energies, and Irradia
Key Questions Answered in Cold Laser Therapy Market Report
- What are the major drivers, restraints, and opportunities in the global market?
- What are the revenue share projections of key segments of the global cold laser therapy market during the forecast period?
- Which segment is likely to lead the global cold laser therapy market in terms of revenue by 2027?
- How alliances & partnerships among players are widening the scope of the global cold laser therapy market?
- What is the market position of different companies operating in the global cold laser therapy market?
Cold Laser Therapy Market – Segmentation
Product
- Instruments
- Accessories
Application
- Orthopedics
- Dermatology
- Dentistry
- Neurology
- Laser Acupuncture
- Others
End User
- Hospitals
- Specialty Clinics
- Home Care
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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