Medical Photobiostimulation System Market Worth US$ 314.88 million by 2028 | Lexington, Theradome, Vielight, iRestore Hair Growth System, Apira Science, BioLight Technologies

According to our latest study on “Medical Photobiostimulation System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, and Application,” the market is projected to reach US$ 314.88 million by 2028 from US$ 204.66 million in 2021; it is expected to grow at a CAGR of 6.3% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the medical photobiostimulation system market is primarily attributed to growing number of patients suffering from chronic disorders and chronic pain and rising demand for photobiostimulation devices for pain management and wound care due to increasing geriatric population. However, stringent regulatory framework hinders the market growth.

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BioLight Technologies LLC.; Omega Laser Systems Ltd; Vielight Inc.; Theradome Inc.; Lexington Intl., LLC; THOR Photomedicine Ltd; Ingeneus; iRestore Hair Growth System; Meditech International Inc. (BIOFLEX Laser Therapy); and Apira Science, Inc. (iGrow Laser) are among the leading companies operating in the Medical Photobiostimulation System market.

Based on product, the medical photobiostimulation system market is segmented into infrared light, red light, and others. The infrared light segment is estimated to hold the largest share of the market in 2021 and is expected to grow at the highest CAGR in the forecast period. Infrared therapy is an innovative method to treat pain and inflammation and is widely being used in medicine, dentistry, veterinary medicine, and autoimmune diseases. Increasing demand for drug-free, and noninvasive method to reduce pain and inflammation is driving the growth of the segment.

Growing number of patients suffering from chronic disorders and chronic pain and rising demand for photobiostimulation devices for pain management and wound care due to increasing geriatric population are the major factors contributing to the market growth. However, stringent regulatory framework restrains the market growth. Medical photobiostimulation therapy is also known as low-level light therapy (LLLT) and is used to reduce pain, inflammation, and promote the healing of wounds. Modern photobiostimulation devices use specific wavelengths to achieve specific results. The photobiostimulation devices work on the principal because light works on a protein in the cell's mitochondria, which results in increased ATP and reduced oxidative stress. A cascade of intracellular processes results in improved tissue and reduced inflammation.

APAC countries are witnessing rise in COVID-19 cases. There has been a significant drop in in-patient and out-patient visits for private hospital chains. To relieve healthcare systems, many clinics have been postponing hospital visits. These events are likely to have a negative impact on Asia Pacific arrhythmia monitoring devices market. Medical industry segments, including medical photobiostimulation devices market, have experienced losses during the COVID-19 pandemic due to restricted manufacturing and supply chain facilities.

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