PUBLISHER: Allied Market Research | PRODUCT CODE: 1193075
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193075
The global laser therapy devices market was valued at $2,386.29 million in 2021, and is projected to reach $5,704.01 million by 2031, registering a CAGR of 8.9% from 2022 to 2031.
Laser therapy devices are the devices that are used to treat or remove tissue by using precisely focused laser beam. They are used for various applications, which include ophthalmology, dermatology, gynecology, dentistry, urology, cardiovascular, and others. Furthermore, these devices are used in many surgical procedures such as cosmetic surgery, refractive eye surgery, dental procedures, and general surgery. Therefore, rise in demand for non-invasive procedures in such surgical procedures drives the growth of the laser therapy devices market.
Furthermore, rise in incidence of eye disorders due to upsurge in aged population, increase in number of patients using advanced laser-therapy devices globally, and surge in importance of aesthetics are the factors that drive the market growth. In addition, rise in technological advancement in laser therapy devices and increase in adoption for laser therapy devices for aesthetic and dermatological procedures across the world further boost the growth of market. However, stringent safety regulations and high rate of failure of laser-based surgical procedures hamper the market growth. Increase in disposable income and growth in demand for laser therapy devices in the emerging countries are expected to offer lucrative opportunities for the market growth.
The global laser therapy devices market is segmented on the basis of type, application, end user, and region. By type, the market is classified into solid-, gas, liquid, and diode. By application, the market is categorized into dermatology & aesthetics, dental, and others. By end user, the market is fragmented into hospitals, specialized clinics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By region, North America accounted for a majority of the global laser therapy devices treatment market share in 2021 and is anticipated to remain dominant during the forecast period. This is attributed to increase in adoption of laser therapy devices, growth in R&D activities as well as presence of strong and established market players in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to rise in awareness among young population regarding aesthetics appearance, growth in health care expenditures, and surge in adoption of laser therapy devices procedures in this region.
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