The North America Laser Therapy Market is projected to reach US$ 669.92 million by 2027 from US$ 1,441.45 million in 2019. The market is estimated to grow at CAGR of 10.2% from 2020 to 2027.
The growth of the market is driven by factors such as broad medical applications, and growing product launches. However, the market is likely to have a negative impact due to the high cost of laser therapy and devices.
Various medical device manufacturers and start-ups are introducing the latest technologies in the market. The availability of various advanced products in the market allows medical professionals to improve patients’ health by enhancing their treatment efficiency. For instance, in February 2020, IRIDEX Corporation, a manufacturer of ophthalmic laser-based medical products, launched an upgraded second-generation version of MicroPulse P3 Device to treat glaucoma, and the upgrades made to the device is expected to substantially reduce intraocular pressure suitable for glaucoma patients without incisions.
In addition, the rising trend of fitness and beauty has increased the demand for beauty devices. Therefore, technological advancements have encouraged several companies to innovate devices that promote healthy skin. For instance, Belle51, a Los Angeles-based company, launched its laser-based device - Solèy - in June 2019. The device is designed for home care and can be easily used to remove dark spots, melasma, unwanted moles, stretch marks, and acne scars. The device is available for sales in the US and is distributed globally. Such products launches are expected to continue to drive market growth during the forecast period.
Based on type, the laser therapy market is segmented into solid, liquid, gas, and diode. The diode segment held the largest share of the market in 2019. However, the same segment is estimated to register the highest CAGR of 11.1% in the market during the forecast period.
Based on application, the market is segmented into dermatology and aesthetics, dental, ophthalmology, urology, cardiovascular, and oncology and other applications. The dermatology and aesthetics segment held the largest share of the market in 2019. However, the ophthalmology segment is estimated to register the highest CAGR of 11.1% in the market during the forecast period.
Based on end user, the market is segmented into specialized clinics, hospitals, ambulatory clinics, and others. The specialized clinics segment held the largest share of the market in 2019. However, the same segment is estimated to register the highest CAGR of 10.8% in the market during the forecast period
Some of the major primary and secondary sources for North America Laser Therapy market included in the report are, American Society of Plastic Surgeons (ASPS), American Heart Association, US Census Data, AND Centers for Disease Control and Prevention (CDC), World Health Organization (WHO) among others.
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Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Alma Lasers
- Coherent, Inc.
- BIOLASE, Inc.
- IPG Photonics Corporation
- biolitec AG
