Global Laser Therapy Devices Billion Dollar Market Thriving on Growing Demand

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Oct. 4, 2022 /PRNewswire/ -- The laser therapy market has been having a very health growth trend in recent years and is expected to continue through the coming years. Minimally invasive surgical procedures have entered the limelight within the global healthcare space. Incidences of surgical wounds and corresponding infections from conventional procedures have necessitated a shift towards alternative approaches. This has boded well for the laser therapy devices market. Medical practitioners are exhibiting a high tilt towards low level laser therapy (LLLT), amid a growing perception of it improving patient outcomes and reducing incidences of laser surgery associated side-effects in the long-run. Moreover, maximum applications are expected in cancer treatment, addressing ophthalmic disorders and aesthetics medicine.  A recent report from Future Market Insights' (FMI) on the global laser therapy devices market expects a healthy growth trend, reach a value of almost US$ 2 billion by 2022, registering a CAGR of around 4%. Long-term prospects also appear bright, with numerous large-scale investments underway to adopt laser treatment procedures, amid rising inclination towards minimally invasive surgeries.  The report said:" As per FMI's analysis, oncology and aesthetics treatment are expected to emerge as key growth engines, followed by ophthalmology applications. Furthermore, preference for low level laser therapy (LLLT) is expected to increase, prompting key manufacturers to introduce a slew of innovative laser therapy devices solutions in the long-run."    Active companies in the markets this week include ShiftPixy, Inc. (NASDAQ:PIXY), Edwards Lifesciences Corporation (NYSE:EW), Biofrontera Inc. (NASDAQ:BFRI), Lumentum Holdings Inc. (NASDAQ:LITE), Cutera, Inc. (NASDAQ:CUTR).