Europe Laser Therapy Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type; Application; End User, and Geography

The Europe laser therapy market is expected to reach US$ 1,067.56 million by 2027 from US$ 523.92 million in 2019; it is estimated to grow at a CAGR of 9.4% from 2020 to 2027.

The laser therapy market in Europe grows substantially due to rising medical applications of laser therapy and increasing number of launches of new products in the market. However, the high costs associated with laser therapy and devices hinder market growth.

Laser therapy, a non-invasive medical procedure, is used to remove tumors or abnormal growth of cells or tissues, perform hair and skin treatments, remove kidney stones, and repair a detached retina. In medicine, laser therapy allows surgeons to work at a high level of precision by focusing on a definite area, and this process creates lesser damage than the traditional methods of surgery. The process of laser therapy is however costly and may require repetitive visits to the surgeon.

Laser therapy is widely used to relieve pain, perform several surgeries, and repair retina or tissue. The process of this therapy utilizes a strong light beam of a specific wavelength to cut, remove, or treat the affected tissue or organ. In surgical procedures, laser therapy eliminates various barriers that are present with the performance of other types of therapies; therefore, it is widely adopted in the medical field. It is also considered among the minimally invasive treatments and has broad applications in oncology, ophthalmology, aesthetics, dental, cardiovascular, and pain management, among others. In oncology, laser therapy is used along with other treatments such as surgery, chemotherapy, or other radiation therapies. The therapy is used to treat various cancer types such as vaginal cancer, vulvar cancer, basal cell skin cancer, cervical cancer, and penile cancer. In addition, technological advancements in laser therapy enable the painless sealing of nerves after surgery; it also prevents blood loss by sealing the injured site. Also, laser therapy is widely accepted for aesthetic applications such as the removal of hair, tattoo, moles, birthmarks, warts, and sunspots. Furthermore, the number of primary cosmetic treatments for veins, skin resurfacing, and hair removal using laser therapy have significantly increased. Thus, these broad medical applications and the wide adoption of laser therapy propel the demand for laser-based devices.

Spain, Italy, Germany, France, and the UK are among the most affected countries due to the increasing number of COVID-19 cases and associated deaths. The manufacturers and suppliers of medical devices are shifting their focus from the regular laser therapy devices to the development and supply of COVID-19 essentials and medical devices used for respiratory issues. This scenario adversely impacts the dermatology and cosmetic and minimally invasive therapies performed with laser devices.

Based on type, the diode segment held the largest share of the Europe laser therapy market in 2019 and is expected to grow at the fastest CAGR during the forecast period. This segment is witnessing a lucrative growth owing to its rapid adoption in photodynamic treatments and aesthetic procedures. Additionally, the diode laser is used for incision, hemostasis, and coagulation. Moreover, the implementation of diode laser causes minimal swelling, scarring, and postsurgical pain, and these factors propel the demand for diode laser in the market.

A few secondary sources referred to while preparing the report of the Europe laser therapy market are the World Health Organization (WHO), National Health Service (NHS), and British Heart Foundation (BHF), European Commission (EC).

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe laser therapy market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Europe laser therapy market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth regional market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.