Laser therapy is non-invasive medical treatment which uses light of specific wavelength to treat various diseases. The therapy is most frequently used to remove the precancerous or tumors growths, repair a detached retina, remove kidney stones, various cancers and treat hair loss. The treatment is also used to cap nerve endings after the surgery, lymph vessels to decrease swelling, and the blood vessels to help avoid blood loss. Lasers have become essential part of ophthalmology.
Laser therapy market size is anticipated to grow significantly from the year 2019 to 2026. Rising implementation of home healthcare software around the globe will drive industry growth during forecast timeframe. These home healthcare software are the cost effective, easy to use, provides precise medical information concerning billing records, scheduling, therapeutic history and upkeep of patient EMRs or Electronic Medical Records that increases operational efficacy and permits home care agencies to supply quality patient care. This has resulted in demand for the home healthcare software is growing and the scenario is expected to remain same over the foreseeable future.Segment Overview
In the laser-based ophthalmology, beam of light reforms the cornea, thus improves the corneal concentration. This can be used to produce channel to release intraocular pressure of cauterize tiny haemorrhages or glaucoma. Frequently used lasers in the ophthalmology include Nd: excimer LASER, femtosecond LASER, YAG LASER, and others. Growing prevalence of diseases such as cataract and arthritis is major driver for market growth.
According to National Eye Institute (NEI), number of people in the U.S. suffering from cataract is likely to double from almost 24.4 million in 2010 to over 50 million by 2050. Furthermore, in 2015, the Institute stated, more than half of Americans suffer from cataract related problems in their overall life span. Growing demand for aesthetics and increasing geriatric population followed by the increasing demand for various non-invasive procedures will boost market growth. Though, high procedural cost is expected to restrain the market growth over the forecast period.Regional Overview
U.S. market is estimated to foresee profitable growth during the forecast period due to prompt rising acceptance of various innovative laser solutions in the region. Growing popularity and application of minimally invasive or non-invasive laser procedures such as removal of scars, laser hair removal, liposuction, and resurfacing of the skin, among the population in the country due to high emphasis on the aesthetics will further enhance the market growth. Furthermore, supportive government initiatives to develop various advanced products for the aesthetics treatment and rise in disposable income is expected to augment U.S. industry growth.Competitor overview
In 2016, According to Royal National Institute of Blind People (RNIBP) the number of the people living with sight loss are anticipated to reach almost 2.7 million by the year 2030 due to probable cases of cataract, refractive error, glaucoma, and others.
The presence of huge patient population and constantly developing economies such as India and China are expected to boost the market growth in the region. Furthermore, growing geriatric population in the region further fuels the market growth. According to study conducted by the International Journal of Advanced Medical and Health Research (IJAMHR) in 2015, in India, the incidence of blindness was 1.1%, principal cause being the cataract, affecting more than 9 million people and accounting for over 62.0%.Key Players
- Diode Lasers
- Solid State Lasers
- Semiconductor Lasers
- Liquid Lasers
- Gas Lasers, Dye Lasers
- Dermatology & Aesthetics
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Rest of LAMEA