by The cold laser therapy market involves the use of low-level laser therapy or LLLT, which utilises non-thermal lasers to reduce pain and inflammation and aid wound healing. LLLT is a form of photobiomodulation therapy that applies red and near-infrared light to the body and stimulates cells to reduce pain and accelerate natural healing. It is a non-invasive procedure and is being widely used as an alternative treatment method for various muscle, joint, and soft tissue injuries. The global cold laser therapy market is estimated to be valued at US$ 161.3 Mn in 2024 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024 to 2031.
The key opportunities in the Global Cold Laser Therapy Market Share include growing awareness about advantages of LLLT over pharmaceutical drugs and traditional therapies. Increasing commercial availability of portable and handheld devices for homecare settings is also driving the market growth.
Key Takeaways
Key players operating in the cold laser therapy market are Zimmer MedizinSysteme GmbH, Erchonia Corporation, LiteCure, Multi Radiance Medical, BioLight Technologies, Shenzhen Sinoriko Technology Co., Limited, Lumina Group Inc., Theralase Inc., BTL, THOR Photomedicine Ltd, MICROLIGHT Corporation, Lexington International, LLC, BioLight Technologies LLC, DJO Global, Inc., BioFlex Laser Therapy, Aspen Laser Systems, K-Laser srl.
Technological advancements such as development of multi-wavelength lasers and combination therapies integrating LLLT with other therapeutic modalities are further positively impacting the cold laser therapy market.
Market Drivers
The major drivers fueling the cold laser therapy market expansion are rising geriatric population globally which is more prone to injuries and chronic pain conditions, growing incidence of sports injuries and musculoskeletal disorders, and increasing adoption of non-invasive treatment methods. Additionally, favorable reimbursements for LLLT procedures in developed nations and ability of cold laser therapy to treat various acute and chronic pain conditions without side effects are augmenting the market revenues.
Current Challenges in Cold Laser Therapy Market:
The cold laser therapy market is facing few challenges currently. The lack of awareness among patients and physicians regarding the benefits of cold laser therapy is one of the major challenges. Cold laser therapy is still considered as an alternative and complementary therapy by many and lack of credible research data is restricting its adoption. Reimbursement issues is another challenge as many insurance policies do not cover costs of cold laser therapy sessions. High costs of cold laser devices is prohibiting its usage in small clinics in developing regions. Lack of regulatory guidelines and certifications for therapists is needed to standardize the usage and efficacy of this therapy.
SWOT Analysis
Strength: Non-invasive nature and no reported side-effects. Reduces pain and swells quickly.
Weakness: Requires multiple sessions for chronic conditions. High costs of devices limits widespread adoption.
Opportunity: Growing geriatric population and patients seeking non-drug therapies. Rising musculoskeletal conditions provides significant market potential.
Threats: Competition from other pain relief therapies. Reimbursement issues and lack of guidelines pose challenges.
Geographical Regions:
North America region currently holds the major share of cold laser therapy market in terms of value owing to increasing healthcare expenditure, rising awareness levels and supportive reimbursement framework. Europe is the second largest regional market led by countries like Germany, UK and France. Asia Pacific region is expected to be the fastest growing region driven by rising income levels, growing elderly population and increasing focus on alternative therapies in countries like China, India and Japan. Other regions including Latin America and Middle East and Africa also provides ample growth opportunities for market players.
Fastest Growing Region:
Asia Pacific region is projected to witness the highest CAGR in the global cold laser therapy market during the forecast period from 2024 to 2031. Rising medical tourism industry along with improved accessibility of treatments is driving the market in Asia Pacific. Growing focus on alternative therapies, increasing research activities and rapidly developing healthcare infrastructure especially in India and China will significantly support the regional market growth over the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
