Laser Therapy Market Impact and Opportunities During Coronavirus Lockdown and Forecast Assessment 2021-2027 | Boston Scientific Corporation, BTL, Meditech International Inc.

Report Ocean releases its latest report on the global Laser Therapy Market. The growing prevalence of various diseases including cancer, dental disorders, cardiovascular disorders among others will positively impact the laser therapy industry growth during the forecast period. According to the American Academy of Dermatology (AAD), in the U.S., acne is the most common skin condition affecting up to 50 million individuals each year.

Such dermatological diseases, needing effective and long-term treatment coupled with the increasing incidence of dermatological conditions will create significant demand for laser therapy during the estimation period. 

Global Laser Therapy Market Overview:

Laser therapy is a non-invasive medical procedure that uses the light of a specific wavelength to remove tumors or abnormal growth, treat hair conditions, remove kidney stones, and repair a detached retina, among others. Laser therapy is considered an advanced aspect of medical therapeutics. In medicine, the laser allows surgeons to work at a high precision level by focusing on a definite area. This process involves less damage to the target compared with the traditional methods of surgery. The process of laser therapy is however costly and may require repetitive visits to surgeons.

The global laser therapy market is estimated to have reached USD 1710.8 million in 2020 and is further projected to reach USD 2881 million by 2027, growing at a CAGR of 9.1% during 2021-2027.

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Growth Drivers 

Increasing consumer preference towards innovative laser-based technologies

Increasing consumer preference towards innovative laser-based technologies for aesthetics treatment will stimulate the global laser therapy devices' business growth in the coming years. High growth can be attributed to the rising demand for such devices due to better effectiveness, quick recovery to normal body functions, fast treatment duration, and high efficacy. Thus, a rising focus on body aesthetics will lead to the rapid adoption of medical lasers in cosmetic surgeries, thereby stimulating the laser therapy devices market growth over the projected timeframe.

Increasing prevalence of diseases like cataract and arthritis

The increasing prevalence of diseases like cataracts and arthritis is the major driver for market growth. According to the National Eye Institute, the number of people in the U.S. with cataracts is expected to double from 24.4 million in 2010 to 50 million by 2050. Moreover, in 2015, the National Eye Institute stated that more than half of Americans suffer from a cataract-related problem in their life span. Thus, the increasing prevalence of the diseases will boost the laser therapy market during the forecast period.

The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.

The reports on the Global Laser Therapy Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Laser Therapy Market growth rates.

Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Laser Therapy Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.

Impact Analysis of COVID-19

A detailed study of Covid-19 impacts the Laser Therapy Market is provided in the report.

The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Laser Therapy Market segments.

While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.

Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.

The report extensively examines the fundamental aspects of the Global Laser Therapy Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Laser Therapy Market provides insight into the factors influencing its growth. This market study breaks down the Laser Therapy Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.

Regional Overview

An analysis of the Laser Therapy Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Laser Therapy Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.

Leading Competitors

The leading prominent competitors in the global Laser Therapy Market are:

Alma Lasers, Coherent, Inc., biolitec Group, IPG Photonics Corporation, Boston Scientific Corporation, BTL, Meditech International Inc. (BIOFLEX Laser Therapy), Baring Private Equity Asia Ltd (Lumenis), Cutera, Angiodynamics, Biolase, Inc., Biolitec AG UntereViaduktgasse, Fotona, Hologic, Inc., Iridex Corporation, Lumenis& other prominent players.

Scope of the Report

The global Laser Therapy Market segmentation focuses on:

By Type:

Ø  Solid

Ø  Liquid

Ø  Gas

Ø  Diode

By End User::

Ø  Specialized Clinics

Ø  Hospitals

Ø  Ambulatory Clinics

Ø  Others

By Application:

Ø  Dermatology and Aesthetics

Ø  Dental

Ø  Ophthalmology

Ø  Urology

Ø  Cardiovascular

Ø  Oncology

Ø  Other Applications

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