Published by Uma Rajagopal
Posted on January 3, 2022
The global Cold Laser Therapy Market totaled US$ 104.0 Mn in 2020. Demand outlook is expected to remain steady as the market is poised to expand at a CAGR of 4.4% between 2021 and 2031, as per Future Market Insights (FMI).
Sales in the Cold Laser Therapy Market is expected to top US$ 165.4 Mn by the end of 2031, according to the latest Future Market Insights (FMI) study. Growth in the market is attributed to the rising prevalence of chronic diseases, surging demand for non-invasive equipment, and increasing demand for cold laser therapy.
2016-2020 Cold Laser Therapy Market Demand Outlook Compared to 2021-2031 Forecast
According to Future Market Insights (FMI), demand for cold laser therapy grew at a CAGR of around 4.9% between 2016 and 2020. Increasing cosmetic & non-invasive surgeries and rise in significance of aesthetic laser techniques are primary factors boosting the cold laser therapy market.
Leading players in the cold laser therapy market are focusing on selling quality products and getting faster approvals from the regulatory authorities for their innovative products. For instance, in July 2019, Erchonia Corporation announced the clearance of the U.S. Food and Drugs Administration (FDA) for low-level laser device (FX-635 laser system) for lower back pain.
Additionally, some of the companies are relying on strategic expansion to expand their geographical reach. For instance, in January 2018, Apira Science Inc. announced about the expansion of the iGrow Hair Growth System for selling and distributing in South Korea, Thailand, Singapore, and Egypt.
To remain ‘ahead’ of your competitors, request for a sample- https://www.futuremarketinsights.com/reports/sample/rep-gb-3639
Meanwhile, others are selling their product through online channels and are investing in digital promotions to establish their brand presence. For instance, in March 2021, Good Energies launched a new media campaign which is laser focused with Guerilla scope.
On the flip side, unprecedented outbreak of COVID-19 hampered the sales of cold laser therapy due to the shifting focus of key players in developing cure for the virus. However, demand for cold laser therapy surged through online sales for patients in home care settings.
On the back of this factor, Future Market Insights estimates the global market to grow at a CAGR of 4.4% by 2031-end.
Growing trend of having a flawless skin and rising influence of social media are encouraging consumers to undergo aesthetic cosmetic procedures. Demand for cosmetic surgeries is rising among aged demographics as they actively look for procedures to get rid of wrinkles, fine lines, flaccid skin, and other conditions.
Treatments such as complete skin rejuvenation are gaining popularity as they improve uneven skin tones, reduces visible rosacea, and sun damage while reducing fine lines. Hence, cold laser therapy market is rapidly growing owing to the growing interest in improving aesthetic.
Get a Customized Scope to Match Your Need, Ask an Expert- https://www.futuremarketinsights.com/ask-question/rep-gb-3639
Cold laser therapy market players are emphasizing on developing technologically advanced and innovative products by investing in research and development (R&D) activities to gain a competitive advantage. Increasing R&D expenditure of biotechnology companies is also providing ample of growth opportunities for the market players.
Improvement and streamlining of regulatory processes in developing countries are expected to boost product portfolio and development of cold laser therapy market.
Companies focusing on collaborations with third parties for the promotion and distribution of its approved products are expected to witness spike in demand for cold laser therapy market in coming years.
For in-depth competitive analysis, Buy Now- https://www.futuremarketinsights.com/checkout/3639
Manufacturers in the cold laser therapy devices are aiming for new product launches. For instance, In March 2017, BioLight Technologies LLC launched Aura PTL II Hand-held Laser Therapy to treat chronic pain. It was a low-level laser therapy that helped in relieving pain and nerve related issues.
Key players are aiming for strategic partnership with other key players to gain competitive edge in the industry. For example, in September 2019, BTL announced a five-year strategic partnership with MedShift to integrate its services by developing innovative products for physicians and patients.
As per the study, manufacturers are organizing promotional activities for its products expanding its presence in the global cold laser therapy market. For instance, in May 3-4, 2018, Erchonia Corporation hosted its annual partner’s meeting at the Hyatt Regency Orlando regarding low-level laser therapy.
Moreover, manufacturers are also focusing on innovations and FDA approval for new products in order to sustain their position in the industry. For instance, in January 2018, Apira Science Inc. received a clearance from the KFDA (Korea Food and Drug Administration), the FDA Thailand, the Singapore Health Sciences Authority (HSA), and the Egyptian Ministry of Health (MoHP) to bring iGrow’s patented low-level light therapy (LLLT) technology to these markets.
Explore Wide-ranging Coverage of FMI’s Healthcare Market Insights Landscape
The global Cold Laser Therapy Market totaled US$ 104.0 Mn in 2020. Demand outlook is expected to remain steady as the market is poised to expand at a CAGR of 4.4% between 2021 and 2031, as per Future Market Insights (FMI).
Sales in the Cold Laser Therapy Market is expected to top US$ 165.4 Mn by the end of 2031, according to the latest Future Market Insights (FMI) study. Growth in the market is attributed to the rising prevalence of chronic diseases, surging demand for non-invasive equipment, and increasing demand for cold laser therapy.
2016-2020 Cold Laser Therapy Market Demand Outlook Compared to 2021-2031 Forecast
According to Future Market Insights (FMI), demand for cold laser therapy grew at a CAGR of around 4.9% between 2016 and 2020. Increasing cosmetic & non-invasive surgeries and rise in significance of aesthetic laser techniques are primary factors boosting the cold laser therapy market.
Leading players in the cold laser therapy market are focusing on selling quality products and getting faster approvals from the regulatory authorities for their innovative products. For instance, in July 2019, Erchonia Corporation announced the clearance of the U.S. Food and Drugs Administration (FDA) for low-level laser device (FX-635 laser system) for lower back pain.
Additionally, some of the companies are relying on strategic expansion to expand their geographical reach. For instance, in January 2018, Apira Science Inc. announced about the expansion of the iGrow Hair Growth System for selling and distributing in South Korea, Thailand, Singapore, and Egypt.
To remain ‘ahead’ of your competitors, request for a sample- https://www.futuremarketinsights.com/reports/sample/rep-gb-3639
Meanwhile, others are selling their product through online channels and are investing in digital promotions to establish their brand presence. For instance, in March 2021, Good Energies launched a new media campaign which is laser focused with Guerilla scope.
On the flip side, unprecedented outbreak of COVID-19 hampered the sales of cold laser therapy due to the shifting focus of key players in developing cure for the virus. However, demand for cold laser therapy surged through online sales for patients in home care settings.
On the back of this factor, Future Market Insights estimates the global market to grow at a CAGR of 4.4% by 2031-end.
Growing trend of having a flawless skin and rising influence of social media are encouraging consumers to undergo aesthetic cosmetic procedures. Demand for cosmetic surgeries is rising among aged demographics as they actively look for procedures to get rid of wrinkles, fine lines, flaccid skin, and other conditions.
Treatments such as complete skin rejuvenation are gaining popularity as they improve uneven skin tones, reduces visible rosacea, and sun damage while reducing fine lines. Hence, cold laser therapy market is rapidly growing owing to the growing interest in improving aesthetic.
Get a Customized Scope to Match Your Need, Ask an Expert- https://www.futuremarketinsights.com/ask-question/rep-gb-3639
Cold laser therapy market players are emphasizing on developing technologically advanced and innovative products by investing in research and development (R&D) activities to gain a competitive advantage. Increasing R&D expenditure of biotechnology companies is also providing ample of growth opportunities for the market players.
Improvement and streamlining of regulatory processes in developing countries are expected to boost product portfolio and development of cold laser therapy market.
Companies focusing on collaborations with third parties for the promotion and distribution of its approved products are expected to witness spike in demand for cold laser therapy market in coming years.
For in-depth competitive analysis, Buy Now- https://www.futuremarketinsights.com/checkout/3639
Manufacturers in the cold laser therapy devices are aiming for new product launches. For instance, In March 2017, BioLight Technologies LLC launched Aura PTL II Hand-held Laser Therapy to treat chronic pain. It was a low-level laser therapy that helped in relieving pain and nerve related issues.
Key players are aiming for strategic partnership with other key players to gain competitive edge in the industry. For example, in September 2019, BTL announced a five-year strategic partnership with MedShift to integrate its services by developing innovative products for physicians and patients.
As per the study, manufacturers are organizing promotional activities for its products expanding its presence in the global cold laser therapy market. For instance, in May 3-4, 2018, Erchonia Corporation hosted its annual partner’s meeting at the Hyatt Regency Orlando regarding low-level laser therapy.
Moreover, manufacturers are also focusing on innovations and FDA approval for new products in order to sustain their position in the industry. For instance, in January 2018, Apira Science Inc. received a clearance from the KFDA (Korea Food and Drug Administration), the FDA Thailand, the Singapore Health Sciences Authority (HSA), and the Egyptian Ministry of Health (MoHP) to bring iGrow’s patented low-level light therapy (LLLT) technology to these markets.
Explore Wide-ranging Coverage of FMI’s Healthcare Market Insights Landscape
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