Dublin, Nov. 26, 2020 (GLOBE NEWSWIRE) -- The "Europe Laser Therapy Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type; Application; End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The Europe laser therapy market is expected to reach US$ 1,067.56 million by 2027 from US$ 523.92 million in 2019; it is estimated to grow at a CAGR of 9.4% from 2020 to 2027.
The laser therapy market in Europe grows substantially due to rising medical applications of laser therapy and increasing number of launches of new products in the market. However, the high costs associated with laser therapy and devices hinder market growth.
Laser therapy, a non-invasive medical procedure, is used to remove tumors or abnormal growth of cells or tissues, perform hair and skin treatments, remove kidney stones, and repair a detached retina. In medicine, laser therapy allows surgeons to work at a high level of precision by focusing on a definite area, and this process creates lesser damage than the traditional methods of surgery. The process of laser therapy is however costly and may require repetitive visits to the surgeon.
Laser therapy is widely used to relieve pain, perform several surgeries, and repair retina or tissue. The process of this therapy utilizes a strong light beam of a specific wavelength to cut, remove, or treat the affected tissue or organ. In surgical procedures, laser therapy eliminates various barriers that are present with the performance of other types of therapies; therefore, it is widely adopted in the medical field.
It is also considered among the minimally invasive treatments and has broad applications in oncology, ophthalmology, aesthetics, dental, cardiovascular, and pain management, among others. In oncology, laser therapy is used along with other treatments such as surgery, chemotherapy, or other radiation therapies. The therapy is used to treat various cancer types such as vaginal cancer, vulvar cancer, basal cell skin cancer, cervical cancer, and penile cancer.
In addition, technological advancements in laser therapy enable the painless sealing of nerves after surgery; it also prevents blood loss by sealing the injured site. Also, laser therapy is widely accepted for aesthetic applications such as the removal of hair, tattoo, moles, birthmarks, warts, and sunspots. Furthermore, the number of primary cosmetic treatments for veins, skin resurfacing, and hair removal using laser therapy have significantly increased. Thus, these broad medical applications and the wide adoption of laser therapy propel the demand for laser-based devices.
Spain, Italy, Germany, France, and the UK are among the most affected countries due to the increasing number of COVID-19 cases and associated deaths. The manufacturers and suppliers of medical devices are shifting their focus from the regular laser therapy devices to the development and supply of COVID-19 essentials and medical devices used for respiratory issues. This scenario adversely impacts the dermatology and cosmetic and minimally invasive therapies performed with laser devices.
Based on type, the diode segment held the largest share of the Europe laser therapy market in 2019 and is expected to grow at the fastest CAGR during the forecast period. This segment is witnessing a lucrative growth owing to its rapid adoption in photodynamic treatments and aesthetic procedures. Additionally, the diode laser is used for incision, hemostasis, and coagulation. Moreover, the implementation of diode laser causes minimal swelling, scarring, and postsurgical pain, and these factors propel the demand for diode laser in the market.
Key Topics Covered:
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Europe Laser Therapy Market - Key Takeaways
3. Research Methodology
4. Europe Laser Therapy Market - Market Landscape
4.2 PEST Analysis
4.3 Expert Opinion
5. Europe Laser Therapy Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Rising Medical Applications of Laser Therapy
5.1.2 Launch of New Products in the Market
5.2 Key Market Restraints
5.2.1 High Costs Associated with the Laser Therapy and Devices
5.3 Market Opportunities
5.3.1 Consistent Development in Laser Therapies
5.4 Future Trends
5.4.1 Patient Preference Toward LLT
5.5 Impact analysis
6. Laser Therapy Market - Europe Analysis
6.1 Europe Laser Therapy Market Revenue Forecasts and Analysis
7. Europe Laser Therapy Market Analysis And Forecasts To 2027 - By Type
7.2 Europe Laser Therapy market, By Type 2019 & 2027 (%)
7.2.1 Europe Laser Therapy Market Revenue and Forecasts to 2027, By Type (US$ Mn)
8. Europe Laser Therapy Market Analysis - By Application
8.2 Europe Laser Therapy Market, By Application 2019-2027 (%)
8.2.1 Europe Laser Therapy Market Revenue and Forecasts to 2027, By Application (US$ Mn)
8.3 Dermatology and Aesthetics
9. Europe Laser Therapy Market Analysis - By End User
9.2 Europe Laser Therapy Market, By End User 2019-2027 (%)
9.2.1 Europe Laser Therapy Market Revenue and Forecasts to 2027, By End User (US$ Mn)
9.4 Specialized Clinics
9.5 Ambulatory Clinics
10. Laser Therapy Market Revenue and Forecasts To 2027 - Geographical Analysis
11. Impact of COVID-19 Pandemic on Europe Laser Therapy Market
11.1 Europe: Impact Assessment Of COVID-19 Pandemic
12. Company Profiles
Meditech International, Inc. (BIOFLEX Laser Therapy)
Boston Scientific Corporation
Baring Private Equity Asia Ltd (Lumenis)
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