In 2022, North America held the largest global cold laser therapy market share and is estimated to continue its dominance from 2022 to 2030. The US held the largest market share in the region in 2022, followed by Canada. According to by US Office of Disease Prevention and Health Promotion, the prevalence of arthritis is expected to rise to 78.4 million by 2040 due to aging and other population trends such as obesity. The US has a high prevalence of orthopedic diseases and musculoskeletal injuries, which expand the cold laser therapy market share in the region. According to the Canadian Journal of Health Technologies, in 2022, ~8 million people in Canada live with chronic pain and 80% of adults experience chronic low back pain at least once during their lifetime. These individuals face various challenges impacting their social, physical, mental, and professional aspects on a daily basis. The availability of innovative cold laser devices such as Erchonia FX 635, well-developed healthcare infrastructure, and the rising adoption of advanced laser therapy technologies are expected to fuel the regional market growth during 2022–2030.
The development of new and safe laser therapies for clinical indications has led to the growing preference for noninvasive, drug-free treatments such as cold laser therapies for various medical indications. This in turn is anticipated to bring new cold laser therapy market trends in the coming years. According to the American Hip Institute & Orthopedic Specialists, cold laser therapy is a noninvasive and pain-free option that has the potential to decrease the requirement for medication and surgery. Various research studies have been carried out to prove the safety and effectiveness of cold laser therapy in reducing inflammation and pain caused by cancer treatments, orthopedic disorders, and skin diseases. According to an article published by ResearchGate in October 2020, a study was carried out to investigate the efficacy of cold laser therapy to treat brain-related diseases, skin-related diseases, cancers, and bone-related disorders; cold laser therapy was found to be effective in treating these health concerns.
Additionally, the launch of advanced laser technologies by market players for various clinical indications is fueling the cold laser therapy market growth. For instance, in December 2023, Zolar Technologies partnered with Oral Science to launch a new Zolar Photon EXE, a compact and portable diode laser system. This laser system is designed for dental surgical procedures and LLLT applications.
Therefore, the availability of FDA-approved cold laser therapy devices and the growing demand for low-intensity laser therapies among physicians and patients have led to the replacement of traditional high-intensity lasers with advanced cold laser therapy to improve patient outcomes, in turn, promoting the growth of the market.
Cold Laser Therapy Market: Segmental Overview
Based on product, the market, is carried out into instruments and accessories. The instruments segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030. Cold laser devices utilize low-frequency continuous, pulsated or combination lasers with a wavelength of typically 600 to 1000 nm to provide a non-invasive alternative to surgery and acupuncture. It eliminates the complications of long-term drug treatment programs.
The cold laser therapy market, by application, is segmented into orthopedics, dermatology, neurology and others. The orthopedics segment held a larger cold laser therapy market share in 2022. During the cold laser therapy, the laser light penetrates the affected tissues and triggers a series of physiological reactions to reduce inflammation, improve blood circulation, and ultimately relieve knee pain. In 2021, guidelines released by American Academy of Orthopaedic Surgeons (AAOS) included laser therapy for the treatment of pain and inflammation associated with knee osteoarthritis. Further, dermatology segment is anticipated to register the highest CAGR during 2022–2030.
The market, by end user, is segmented into hospitals, specialty clinics, homecare settings, and others. In 2022, the hospital segment held the largest cold laser therapy market share. The speciality clinics segment is anticipated to register the highest CAGR during 2022–2030.
Geographically, the cold laser therapy market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Spain, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Cold Laser Therapy Market: Competitive Landscape and Key Developments
Bioventus LLC, Lumenis Ltd, BTL Industries Inc, Dynatronics Corporation, Zimmer MedizinSysteme GmbH, Theralase Technologies Inc, Erchonia Corporation, ASA Laser S.p.A., Radiancy Inc, and Biolase Inc are among the key players profiled in the cold laser therapy market report. These companies adopt product development strategies to meet growing customer demands, which allow them to maintain their brand name in the cold laser therapy market.
A few of the recent developments in the global cold laser therapy market are mentioned below:
- In October 2022, Multi Radiance Medical received FDA clearance for its FibroLux therapeutic laser for pain management in fibromyalgia patients. FibroLux is a handheld, noninvasive laser device with built-in protocols to guide physicians in applying therapy on affected tender points.
- In April 2022, Acclaro Corporation introduced UltraClear, a cold fiber laser technology in the US for treating wrinkles, scars, acne scars, pigmentation, enlarged pores, fine lines, and other complexion issues. This medical laser device with MIRACL (i.e., Mid IR Ablative Cold Fiber Laser) technology emits a non-visible laser of 2910 nm wavelength that maximizes tissue ablation and minimizes post-inflammatory hyperpigmentation or post-inflammatory erythema and bleeding.
- In March 2019, Colfax Corporation completed its previously announced acquisition of DJO Global, Inc. from an investor group managed by Blackstone for US$ 3.15 billion.