The global photobiostimulation devices market size was evaluated at $11 billion in 2022 and is slated to hit $17 billion by the end of 2030 with a CAGR of nearly 5.3% between 2023 and 2030.
Photobiostimulation equipment is used to treat wounds, deeper nerves, and prevent tissue injury by reducing pain, inflammation, and edema. LEDs are reportedly used by photobiostimulation devices to generate the required wavelength of light in order to accomplish specific results. In cell mitochondria, light interacts with a protein to increase ATP and decrease oxidative stress; this is the predominant principle upon which photobiostimulation devices operate.
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???? Major Insights
• According to the projections of our research analyst, the global market for photobiostimulation devices will expand at a rate of approximately 5.3% per year over the forecast period (2023-2030).
• In terms of revenue, the global market for photobiostimulation devices is anticipated to reach $17 billion by 2030, up from an estimated $11 billion in 2022.
• The global photobiostimulation devices market is anticipated to grow rapidly over the forecast timeline owing to the growing tendency for treating patients with non-invasive procedures, the rise in the number of patients affected due to chronic pain, and the need for cost-effective treatments.
➤ Massive demand for non-invasive methods to treat patients will drive the expansion of the global market through 2030
In the coming years, the global market for photobiostimulation devices will expand due to factors such as the increasing preference for non-invasive procedures, the increase in the number of patients suffering from chronic pain, and the demand for cost-effective treatments. The expansion of the global market will be driven by an aging population susceptible to chronic diseases. In the coming years, chronic diseases such as osteoporosis and arthritis will contribute to the expansion of the business sector. A significant increase in cancer cases and the number of diabetics around the world will pave the way for the global expansion of the market. In the coming years, the introduction of new products is likely to contribute to the expansion of the market on a global scale. In the second half of 2022, for instance, STRATA Skin Sciences, Inc., a healthcare technology company, introduced TheraClear X, a non-invasive acne treatment targeting the primary cause of moderate acne occurrences, such as pustular, inflammatory acne vulgaris, and comedonal.
➤ In the future years, the availability of counterfeit goods may hinder the expansion of global industries
The global expansion of the photobiostimulation devices market is likely to be hindered by the availability of duplicate products. In addition, convenient access to product substitutes at affordable prices and high product costs will further inhibit the global industry’s expansion.
➤ The expanding demand for cost-effective therapies will generate new growth opportunities for the global market
Escalating need for cost-effective treatments along with the demand for effective medical devices for treating chronic pain will open new facets of growth for the global photobiostimulation devices market in the foreseeable future.
➤ Easy access to novel alternative chronic pain treatments can pose a formidable obstacle to the industry’s expansion on a global scale
Future expansion of the global photobiostimulation devices market will be hampered by the availability of alternative therapies for the treatment of chronic pain and stringent government regulations governing the product’s application in the healthcare sector.
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The Global Photobiostimulation Devices Market is segmented based on product, application and region
Global Photobiostimulation Devices Market: Product Segment Analysis
● Infra-Red Light
● Red Light
● Others
Global Photobiostimulation Devices Market: Application Segment Analysis
● Pain Management
● Wound Care
● Cosmetic Applications
● Other Applications
The global photobiostimulation devices market profiles key players such as:
● Omega Laser Systems
● Ingeneus Pty Ltd.
● Bioflex Laser Therapy
● Thermadome Inc.
● Hairmax
● iRestore Laser
● THOR Photomedicine
➤ In the upcoming years, it is expected that North America will continue to dominate the global market for photobiostimulation devices
North America, which accounted for approximately 36% of the global photobiostimulation devices market’s revenue in 2022, will be the dominant region during the forecast period. Moreover, the growth of the regional market may be affected by an increase in the incidence of chronic diseases and the use of non-invasive therapies for pain treatment among the geriatric population in countries such as Canada and the United States. In addition, countries such as the United States and Canada are likely to be the most lucrative regional markets in the future years.
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Due to the presence of prominent device manufacturers in China, Taiwan, South Korea, Japan, India, and the Philippines, the Asia-Pacific photobiostimulation devices market will experience the highest CAGR over the next few years. In addition, an increase in product demand in the healthcare industry will further influence regional industry trends.
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