Photobiostimulation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Laser Therapy Market Trends and the Market is Segmented by Application (Wound Care, Pain Management, Cosmetic Application, Other Applications), Wavelength Type (Infrared Light, Red Light, and Other Wavelength Types), End-User (Specialty Clinics, Research Institutes, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market provides the value (in USD million) for the above-mentioned segments.

Photobiostimulation Market Size

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Photobiostimulation Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 5.83 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Photobiostimulation Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Photobiostimulation Market Analysis

The photobiostimulation market size is expected to grow from USD 187.01 million in 2023 to USD 248.55 million by 2028, registering a CAGR of 5.83% during the forecast period.

The emergence of the COVID-19 pandemic had an adverse effect on the world economy and the healthcare system. However, the use of photobiostimulation for treating COVID-19 patients was on the rise, as it was effective in increasing immunity, helping tissue repair, and reducing pro-inflammatory cytokines. For instance, an article in Life journal published by MDPI in June 2021 indicated that photobiomodulation therapy (PBMT) with the use of a low-level laser (LLLT) could be beneficial for COVID-19 patients since it was related to modulating the immune system to the reduction of inflammation, and other beneficial activities for the restoration of health. Similarly, in May 2022, Agencia FAPESP published a report stating that light-based therapies like photobiomodulation achieved good results in rehabilitating patients with post-COVID-19 complications. Thus, COVID-19 pronounced impacted the market's growth and is expected to continue the same in the post-COVID-19 period.

The significant factor attributing to the market growth is the growing incidence of chronic diseases, leading to an increase in the number of patients being treated using methods of photobiostimulation. Additional factors, such as the rising prevalence of chronic pain disorders such as arthritis, os,teoporosis and the rising geriatric population, will drive the market for photobiostimulation during the forecast period.

Photobiostimulation therapy has also been utilized in diabetic wound healing treatment. A photobiomodulation response is produced when cells are exposed to radiation, which changes cellular functions and promotes the healing of diabetic wounds. By modifying many cellular and molecular processes, photobiomodulation therapy (PBMT) employing red and near-infrared (NIR) wavelengths is considered a promising treatment for accelerating the rate of diabetic wound healing, eliminating pain, and reducing inflammation. According to the IDF Diabetes Atlas 2021, around 537 million adults worldwide were found to have diabetes in 2021, with the numbers projected to grow to 643 million by 2030 and 783 million by 2045. The rising number of diabetic cases which leads to diabetic foot around the world is likely to increase the demand for photobiostimulation therapy for a cure and is expected to have growth in the market over the forecast period.

Advancements in technology and new product launches by the market players focusing on photobiostimulation therapy are also aiding the growth of the studied market over the forecast period. For instance, in March 2021, B-Cure Laser launched a low-level laser therapy (LLLT) device enabling chronic pain sufferers to relieve pain in the United Kingdom. Such activities are likely to add to the market growth.

However, the rising availability of alternative treatments is expected to hinder the market's growth over the forecast period.

Photobiostimulation Market Trends

Pain Management is Expected to Hold the Major Market Share in the Market Over the Forecast Period

The pain management segment retains a significant share due to attributes such as the growing geriatric population, rising incidence of osteoporosis and arthritis cases, and the individuals suffering from pain related to these disorders worldwide, which is further expected to drive the market growth for photobiostimulation.

According to the Arthritis Statistics by SingleCare in January 2022, around 350 million people worldwide suffer from arthritis. The report also revealed that women are at three times more risk of being affected than men. Furthermore, the report published by WJTM journal in August 2022 stated that devices that operate in the near-infrared region or nearby at modest intensities can control oxidative stress, inflammation, and pain in arthritis by influencing immune cells' regulatory functions and preventing the transmission of pain through sensory neuron fibers. The rising number of people affected by such diseases creates a demand for pain management therapies, which is likely to add to the growth of the pain management segment in the photobiostimulation market over the forecast period.

The initiatives the key market players take are expected to add to the growth of the studied market. For instance, in March 2021, Good Energies Ltd. launched a new media campaign with Guerillascope to spread awareness of low-light laser therapy devices for pain management. Such actions are likely to increase the awareness of photobiostimulation therapy and are expected to boost the market through this segment.

Photobiostimulation Market - Estimated Number of Geriatric Population (in Billions), Global, 2022-2050

North America is Expected to Hold the Major Market Share Over the Forecast Period

Throughout the forecast period, North America is expected to hold the major share of the overall photobiostimulation market. Factors such as the rising prevalence of chronic disorders and related pain such as arthritis, the rising geriatric population, and the growing demand for noninvasive treatments are likely to drive the photobiostimulation market in the region.

For instance, as per the Action for Seniors report published by the government of Canada in February 2021, the number of people over 65 years living in Canada by the year 2030 will be around 9.5 million. The rising geriatric population increases the risk for various chronic diseases that cause pain and is likely to increase market growth. Similarly, as per the data by the CDC published in October 2021, about 1 in 4 United States adults (23.7%), or about 58.5 million people, have doctor-diagnosed arthritis. Thus, the growing prevalence of bone-related diseases such as arthritis is expected to increase the demand for photobiostimulation as the noninvasive treatment is in demand, further boosting the market growth.

Cosmetic photobiostimulation therapies constitute a significant part of the region's photobiostimulation market. In March 2021, Solta Medical launched the Clear + Brilliant Touch laser in the United States, which delivers a customized and more comprehensive treatment protocol by providing patients of all ages and skin types the benefits of two wavelengths. The rising awareness and new product launches, expanding the usage of photobiostimulation therapy in the region, are expected to add to the market growth.

Photobiostimulation Market - Growth Rate by Region

Photobiostimulation Industry Overview

The photobiostimulation market is consolidated and consists of a few major players. A few of the major players are currently dominating the market in terms of market share. Some prominent players are vigorously making acquisitions and new product launches with other companies to consolidate their global market positions. Some companies currently dominating the market are BioLight Technologies LLC, THOR Photomedicine Ltd, BIOFLEX, Vielight Inc., and Erchonia Corporation.

Photobiostimulation Market Leaders

  1. BioLight Technologies LLC

  2. Erchonia Corporation

  3. Vielight Inc

  4. BIOFLEX

  5. THOR Photomedicine Ltd

*Disclaimer: Major Players sorted in no particular order

Photobiostimulation Market Concentration
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Photobiostimulation Market News

  • April 2023: BioPhotas, Inc., the manufacturer of Celluma SERIES of light therapy devices, received certification from the European Council Medical Device Regulation 2017/745 for low-level light therapy devices.
  • February 2023: VCare, a Hair and Skin Clinic, launched its new hair treatment called photobiostimulation hair growth therapy in India.

Photobiostimulation Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Incidence of Osteoporosis and Arthritis

      2. 4.2.2 Rising Demand for Non-Invasive Treatments

    3. 4.3 Market Restraints

      1. 4.3.1 Availability of Alternative Treatments

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD)

    1. 5.1 By Application

      1. 5.1.1 Wound Care

      2. 5.1.2 Pain Management

      3. 5.1.3 Cosmetic Application

      4. 5.1.4 Other Applications

    2. 5.2 By Wavelength Type

      1. 5.2.1 Infrared Light

      2. 5.2.2 Red Light

      3. 5.2.3 Other Wavelength Types

    3. 5.3 By End-User

      1. 5.3.1 Specialty Clinics

      2. 5.3.2 Research Institutes

      3. 5.3.3 Other End-Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 BioLight Technologies LLC

      2. 6.1.2 THOR Photomedicine Ltd

      3. 6.1.3 BIOFLEX

      4. 6.1.4 Erchonia Corporation

      5. 6.1.5 Ingeneus

      6. 6.1.6 Vielight Inc.

      7. 6.1.7 HairMax

      8. 6.1.8 TheraDome Inc.

      9. 6.1.9 LumiWave

      10. 6.1.10 Omega Laser Systems

      11. 6.1.11 iGrow Laser

      12. 6.1.12 Pulse Laser Relief

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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Photobiostimulation Industry Segmentation

As per the scope of this report, photobiostimulants are being used to minimize tissue damage and reduce swelling, pain, and edema to treat deeper skin wounds and nerves. The Photobiostimulation Market is Segmented by Application (Wound Care, Pain Management, Cosmetic Application, Other Applications), Wavelength Type (Infrared Light, Red Light, and Other Wavelength Types), End-User (Specialty Clinics, Research Institutes, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value in USD for the above segments.

By Application
Wound Care
Pain Management
Cosmetic Application
Other Applications
By Wavelength Type
Infrared Light
Red Light
Other Wavelength Types
By End-User
Specialty Clinics
Research Institutes
Other End-Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Photobiostimulation Market Research FAQs

The Global Photobiostimulation Market is projected to register a CAGR of 5.83% during the forecast period (2024-2029)

BioLight Technologies LLC, Erchonia Corporation, Vielight Inc, BIOFLEX and THOR Photomedicine Ltd are the major companies operating in the Global Photobiostimulation Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Global Photobiostimulation Market.

The report covers the Global Photobiostimulation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Photobiostimulation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Photobiostimulation Industry Report

Statistics for the 2024 Photobiostimulation market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Photobiostimulation analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Photobiostimulation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)