Cold Laser Therapy Market Key Companies and SWOT Analysis by 2030

[Research Report] The cold laser therapy market size was valued at US$ 322.45 million in 2022 and is expected to reach US$ 522.40 million by 2030; it is estimated to record a CAGR of 6.2% during 2022–2030.

Market Insights and Analyst View:

Factors such as the growing prevalence of chronic pain conditions such as orthopedic disorders and utilization of cold laser in dermatology propel the cold laser therapy market growth. However, a shortage of technically skilled personnel and high treatment costs impede the growth of the market.

Cold laser therapy, also known as low-level laser therapy (LLLT), is a noninvasive and painless treatment to stimulate the healing process by reducing pain and inflammation in the body using low levels of light. During the therapy, different wavelengths of light are directed at the affected body part. The targeted tissue absorbs light at red and near-infrared wavelengths to promote blood circulation and stimulate healing via the regeneration of damaged cells.

Growth Drivers and Restraints:

Cold laser therapy has diverse applications across multiple healthcare domains, spanning pain management, orthopedics, dermatology, and dentistry. Due to the rising prevalence of orthopedic conditions such as arthritis, musculoskeletal injuries, neuropathic pain, and chronic injuries, the utilization of cold laser therapy in healthcare institutions and homecare settings has increased. According to the data published by the World Health Organization (WHO), in February 2021, ~1.71 billion individuals worldwide suffered from musculoskeletal problems, with lower back pain being the most widespread musculoskeletal condition, affecting 568 million people globally.

Cold laser therapy is a noninvasive and effective treatment to alleviate chronic back pain. A study, “Effectiveness of Low-Level Laser Therapy in Patients with Discogenic Lumbar Radiculopathy,” published by Hindawi in February 2022, was carried out with 110 patients suffering from acute lower back pain and unilateral discogenic lumbar radiculopathy. Of the total patients, 55 patients were treated with LLLT combined with conventional physical therapy, while the other control group of 55 patients was treated with only conventional physical therapy. The study demonstrated that LLLT, as an adjunct therapy to conventional physical therapy, significantly improved local trunk movements, pain intensity, and related functional disability, as compared with conventional physical therapy alone in the treatment of discogenic lumbar radiculopathy.

Additionally, cold laser therapy is employed in dermatology and aesthetic medicine for noninvasive skin rejuvenation, anti-aging treatment, and improvement of skin texture. The most successful commercial use of LLLT is in managing androgenetic alopecia (AGA) for both men and women. A study, “Efficacy Assessment for Low-Level Laser Therapy in the Treatment of Androgenetic Alopecia,” published by Springer Link in February 2022, was carried out on 1,383 patients using Food and Drug Administration (FDA)-cleared iHelmet (Slinph Technologies Co., Ltd, Shenzhen, China). The study showed that treatment with LLLT helmets was moderately effective for 51.9% of users with mild AGA and 57.4% with moderate-to-severe AGA. Therefore, the abovementioned factors contribute to the growing utilization of cold laser devices as a therapeutic modality in modern healthcare settings and are responsible for the cold laser therapy market growth.

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Cold Laser Therapy Market: Strategic Insights

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Report Segmentation and Scope:

The “cold laser therapy market analysis” has been carried out by considering the following segments: product, application, and end user.

Segmental Analysis:

The cold laser therapy market, by product, is segmented into instruments and accessories. The instruments segment held the larger cold laser therapy market share in 2022 and is anticipated to register the higher 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 is expected to hold the largest 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 share of the market The speciality clinics segment is anticipated to register the highest CAGR during 2022–2030.

Regional Analysis:

The geographic scope of the cold laser therapy market report entails North America (US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). Asia Pacific is expected to register the fastest CAGR in the cold laser therapy market during the forecast period.

In 2022, North America held the largest global 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.

Cold Laser Therapy Market Regional Insights

The regional trends and factors influencing the Cold Laser Therapy Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Cold Laser Therapy Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Cold Laser Therapy Market Report Scope

Cold Laser Therapy Market Players Density: Understanding Its Impact on Business Dynamics

The Cold Laser Therapy Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Cold Laser Therapy Market are:

1. Bioventus LLC
2. Lumenis Ltd
3. BTL Industries Inc
4. Dynatronics Corporation
5. Zimmer MedizinSysteme GmbH

Disclaimer: The companies listed above are not ranked in any particular order.

Industry Developments and Future Opportunities:

The cold laser therapy market forecast can help stakeholders in this marketplace plan their growth strategies. A few initiatives taken by key players performing in the global cold laser therapy market are listed 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.

Competitive Landscape and Key Companies:

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 allows them to maintain their brand name in the market.