Europe Laser Therapy Market Share and Forecast by 2027

The European laser therapy market is expected to reach US$ 1,067.56 million in 2027 from US$ 523.92 million in 2019. The market is estimated to grow with a CAGR of 9.4% from 2020-2027.

The market is expected to witness a substantial growth due to driving factors such as rising medical applications of laser therapy and launch of new products in the market. However, the high costs associated with the laser therapy and devices are expected to hinder the market growth.

Laser therapy is a non-invasive medical procedure, which uses light of a specific wavelength in order to treat various diseases. This procedure is used to remove tumors or abnormal growth, hair treatment, removal of kidney stones, and repair of a detached retina among others. Laser therapy is considered as an advanced aspect of medical therapeutics. In medicine, laser allows surgeons to work at high precision level by focusing on definite area. This process creates less damage as compared to the traditional methods of surgery. The process of laser therapy is however costly and may require repetitive visits to the surgeon.

Various medical device manufacturers and start-ups are introducing latest technologies in the market. The availability of various advanced products in the market allows medical professionals to improve patients’ health by enhancing their treatment efficiency. For instance, in February 2020, IRIDEX Corporation, a manufacturer of ophthalmic laser-based medical products, launched an upgraded second-generation version of MicroPulse P3 Device to treat glaucoma, and the upgrades made to the device is expected to substantially reduce intraocular pressure suitable for glaucoma patients without incisions.

Furthermore, in June 2020, Cynosure launched Elite iQ Aesthetic Workstation For Laser Hair Removal and Skin Revitalization in Europe that allows faster treatment with higher max energy compared to previous generation devices. Moreover, in March 2018, Dornier MedTech (Dornier), a global leader in stone management and maker of Europe’s best-selling holmium laser brand introduced the new Dornier Medilas H Solvo 35. The innovative 35-watt laser features the patented Advanced Mode for reduced retropulsion, a unique pulse shape for decreasing stone movement during lithotripsy. Thus, the rising number of new product launches is likely to augment the growth of the laser therapy market in Europe over the coming years.

Research institutes, and medical device companies are engaged in collaborative work to address the COVID-19 outbreak. This has eventually shifted their focus from development of new laser therapy to development of respiratory devices and supplies for the management of COVID-19. Moreover, diversion of resources from laser therapy development to COVID-19 treatment is likely to hamper overall productivity during the forecast period. Furthermore, medical suppliers and procurement are also badly affected by the outbreak of COVID-19 in Europe.

UK Laser Therapy Market Revenue and Forecasts to 2027 (US$ Million)

EUROPE NEUROLOGICAL BIOMARKERS MARKET SEGMENTATION

By Type

• Solid
• Liquid
• Gas
• Diode

By Application

• Dermatology and Aesthetics
• Dental
• Ophthalmology
• Urology
• Cardiovascular
• Oncology
• Other Applications

By End User

• Specialized Clinics
• Hospitals
• Ambulatory Clinics
• Others

By Country

• Germany
• UK
• France
• Italy
• Spain

Companies Mentioned

• biolitec Group
• BTL
• Meditech International, Inc. (BIOFLEX Laser Therapy)
• Boston Scientific Corporation
• Baring Private Equity Asia Ltd (Lumenis)

Europe Laser Therapy Report Scope