Cold Laser Therapy Market Introduction
Laser is a device that generates light through the process of optical amplification based on the stimulated emission of electromagnetic radiation. Cold laser therapy uses low intensity light. Low-level laser results in biostimulation action on various cells of the body. Cold laser therapy is also known as photobiomodulation (PBM) or soft laser biostimulation. The therapy is beneficial for musculoskeletal pain reduction and wound healing. Wavelength of light in the red to near infrared spectrum 600 nm to 700 nm is effective in the treatment of superficial wounds. According to the International Engineering Consortium (IEC) standard, cold laser therapy falls under class 3R/3B category.
Cold Laser Therapy Market – Competitive Landscape
The global cold laser therapy market is highly fragmented with several domestic players holding key market share in respective region. Major players operating in the global cold laser therapy market are involved in collaborations for research and development. As a part of market strategy, players are participating in trade fairs and conferences across the world which is helping cold laser therapy manufacturers to expand business across the globe.
Erchonia Corporation is a Melbourne & Florida based company established in 1996. It is one of the leading players operating in the business across 50 countries in the field of LLLT technology. Erchonia Corporation is the manufacturer and developer of advanced non-invasive 3LT medical equipment. Erchonia Corporation hold 14 FDA market clearances.
Theralase Technologies, Inc.
Theralase Technologies, Inc. is a Canada based biopharmaceutical company. Theralase Technologies, Inc. is focused on the development, manufacturing and commercialization of patented laser technology platforms. Theralase Technologies, Inc. operates through two business segments, therapeutic laser technology division and photo dynamic therapy division. Few of the company’s laser systems are TLC-2000 series, TLC-1000 series and controller-less series.
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Other players operating in the global cold laser therapy market include, BioLight Technologies LLC., THOR Photomedicine Ltd., Apira Science, B-Cure Laser, Irradia Australia, and BioFlex Laser Therapy.
Cold Laser Therapy Market – Dynamics
Rise in prevalence of chronic disease is projected to fuel the growth of the global cold laser therapy market during the forecast period.
Cold laser therapy is under clinical development as new treatment method for cancer. Hence, rise in prevalence of cancer is projected to boost the growth of the global cold laser therapy market during the forecast period. According to the World Health Organization, global cancer burden is estimated to have risen to 18.1 million new cases and 9.6 million deaths in 2018.
Cold laser therapy is effective in reducing inflammation and edema. The therapy induces analgesia and promotes healing in a range of musculoskeletal pathologies. According to the Arthritis Foundation, 1 in 3 people aged between 18 and 64 suffers from arthritis. Further, high prevalence of arthritis contributes to acceptance of cold laser therapy as treatment option by patients. According to Arthritis Foundation estimates, around 54.4 million adults in the U.S. are diagnosed with arthritis.
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Advancement in cold laser therapy technology
Advancement in cold laser therapy technology due to extensive investment by government and private manufacturers is another factor anticipated to fuel the growth of the global cold laser therapy market during the forecast period. Rise in the number of patients requiring medical care and increase in incidence of musculoskeletal problems across the world drive the advancement in cold laser therapy technology. Extensive application of cold laser therapy in health care also propels the global market. Cost-ineffectiveness and lack of awareness about cold laser therapy as a treatment option in developing countries are expected to restrain the global laser therapy market during the forecast period.
Cold Laser Therapy Market – Segmentation
On the basis of application, the global market can be divided into
- Laser Acupuncture
On the basis of product, the global market can be divided into
On the basis of end user, the global market can be divided into
- Specialty Clinics
- Home care Settings
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