Laser Therapy Enhances Treatments of Chronic Diseases
The concerns regarding of fitness and beauty among millennials have increased in recent years. Laser therapy or devices offer their clients/users a new level of precision and customisability. The availability of various advanced products in the laser therapy market allows healthcare professionals to improve patients’ health as the products helps to enhance the treatment efficiency. Considering the scope and needs, many medical device manufacturers as well as start-ups are introducing latest technologies in the market.
It has been witnessed that product approvals, launches, mergers & acquisitions, and partnerships & collaborations are the most commonly performed strategic activities by companies to expand their footprints around the globe. These activities also helped them to meet the rising demand by broadening their product portfolios. In January 2020, Alma Lasers launched DermaClear 3-in-1 Skin Hydradermabrasion Platform. The system is used for nourishment, deep cleansing, and hydration of facial skin.
Several companies are seen innovating devices with technological advancements that claim to make healthy skin. For instance, iRestore Laser released the iRestore Professional, an advanced low level laser therapy (LLLT) device for thinning hair and hair loss. Kevin Chen, Vice President of iRestore Laser said, “We’re always looking for ways to innovate at Freedom Laser Therapy, and the iRestore Professional is no exception”. He added, “With our new device, we’re excited to build direct feedback from our users into our device and provide customers another option that suits their needs. As a result, the iRestore Professional provides a premium hair restoration solution for individuals seeking to improve their hair thickness, density and quality.”
Currently, companies including Coherent, Inc., biolitec Group, BIOLASE, Inc., IPG Photonics Corporation, and Boston Scientific Corporation are active in the laser therapy market.
Laser therapy is always considered as an advanced aspect of medical therapeutics. As compared with the traditional methods of surgery, the laser therapy involves less damage to the target. But the process of this therapy is costly so majority of population is unable to opt for it. Plus, for some specific therapies, it may require repetitive visits to surgeons. Considering these issues, medical experts opine that this scenario may hamper the growth of laser therapy market.
The research report by The Insight Partners states that the laser therapy market is predicted to reach US$ 3,514.02 million by 2027 at a CAGR of 9.9% between 2020 and 2027. Based on application, the global market is segmented into dermatology and aesthetics, ophthalmology, dental, urology, oncology, cardiovascular, etc. The same report mentions that among these applications, dermatology and aesthetics segments hold the highest share of the market in 2019 and ophthalmology segment is expected to experience a significant CAGR during the mentioned period.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.