Market Size of Photobiostimulation Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
