Photobiostimulation Devices Market Size, Share, Growth, Sales, Revenue, Consumption, Trends, Company Analysis and Forecast 2020-2027

According to Vision Research Reports, the global photobiostimulation devices market size surpassed US$ 180 million in 2019, and is projected to expand at a CAGR of more than 6.2% from 2020 to 2027, to reach a market value exceeding US$ 310 Mn by 2027 end.

The global photobiostimulation devices market is driven by the increased awareness and acceptance of photobiostimulation devices due to their proven benefits in applications such as pain management, wound care, cosmetic procedures, and other medical disorders.

The global photobiostimulation devices market has been segmented based on wavelength type, application, end user, and region.

In terms of wavelength type, the global photobiostimulation devices market has been categorized into infrared light, red light, and others.

Based on application, the global photobiostimulation devices market has been classified into pain management, wound care, cosmetic applications, and others.

In terms of end user, the global photobiostimulation devices market has been divided into specialty clinics, research institutions, home care, and others.

The development of the market in photobiostimulation instruments is driven by factors such as a growing trend in the use of non-invasive therapy options, an increase in amount of chronic patients and the need for cheaper therapy options. However, although FDA is authorized for therapy with photobiostimulation equipment, the laws regulating the production of such equipment are comparatively straightforward which lead to a number of inferior goods in the market. In addition, several falsified products are accessible on the market, which hinder the general development of the market for photobiostimulation systems.

The new science strategy of therapeutic apps such as injury heal, pain relief joint, stroke rehabilitation, and nerve regeneration and prevention and therapy of mucus are photobiostimulation equipment that utilize Red in near infraround light energy. As laser techniques and devices continue to be a shared and secure way of dealing with a variety of health and environmental circumstances, the future may favor the rapid development of the market for photobiostimulation systems.

Infrared light photobiostimulation instruments showed beneficial outcomes with a view to growing vascularization, a profound thermal increase, oxygenation increases, fresh collagen synthesis stimulation and skin elasticity enhancement. In some of the pain management hospitals, photobiostimulator systems that emit infrarouge light have been widely used to cure wounds.

Apparatus for photobiostimulation aims to accelerate the healing of wounds and to decrease infection in diabetic foot ulcers. Particles are particularly efficient because there is no special therapy for diabetic foot ulcers and the disease usually leads to diseases and amputational complications. Photobiostimulators emit light, which encourages vascularization and inner heat to recover the injuries quicker. Additional benefit is that they are noninvasive in kind and simple to use. photobiostimulation equipment.

The photobiostimulation systems industry is the leading area in North America. This is caused by many business players in the area and the trend to apply minimally invasive technologically sophisticated therapies in the area. Asia-Pacific is the fastest increasing area, with very small photobiostimulation device production costs and research in the area.

Patient results have become the backbone of the health industry for devices and services. The increasing focus of businesses on sufficient patient experience has strengthened the infiltration of technology and over the past few decades several leaps have been made in the medical equipment industry. Innovation like laser technology revolutionizes the medical equipment industry in a distinctive manner and pushes the sector forward so that health care suppliers and patients alike can benefit greatly.

Increase in Number of Patients with Chronic Pain and Other Chronic Illnesses to Drive Market

• The global photobiostimulation devices market is driven by the increasing incidences of chronic diseases, rapidly aging population, and rise in the availability of emergency medical services centers.
• Photobiostimulation has been investigated and clinically used for more than 30 years. Numerous studies have concluded that, photobiostimulation devices are effective for the treatment of musculoskeletal disorders, arthritis, wound care, and many more.
• Rapid increase in the incidence rate of chronic diseases across the globe will lead to a rise in the number of patients who will undergo treatment using techniques such as photobiostimulation and light therapy. This, in turn, is projected to increase the uptake of photobiostimulation devices, thereby boosting the growth of the photobiostimulation devices
• A number of international studies have estimated that, between 10.1% and 55.2% of the population is afflicted with pain. In the U.S., 20% to 30% of the general population experiences chronic or recurring pain. Approximately, two-thirds of these individuals have had pain for more than five years.

Rise in Patient Preference for Minimally Invasive Therapies and Non-invasive Equipment

• The American Society of Plastic Surgeons estimated that, over 17.7 million minimally-invasive aesthetic procedures were performed in the U.S. in 2017, a 2% increase over 2016. This indicates the high popularity of minimally-invasive procedures in dermatological applications.
• For simple skin-related problems such as unwanted hair, wrinkles, and lines, patients prefer faster solutions with minimal pain that help them resume work at the earliest. Furthermore, the introduction of hand-held photobiostimulation devices is likely to increase convenience for service providers, thereby boosting the uptake of these devices, and, in turn, the growth of the photobiostimulation devices

Increase in Geriatric Population to Drive Demand for Photobiostimulation Devices for Pain Management, Wound Care, etc.

• Increase in the geriatric population is a major driver of the global photobiostimulation devices market. Elderly individuals increase the patient pool in major regions of the world. According to World Health Organization (WHO) estimates, the global geriatric population is likely to reach 2 billion (22% of the global population) by 2050, which was around 962 million in 2017.
• The global geriatric population is expected to increase at faster rate in developed countries such as the U.S., the U.K., and Japan. Brazil, China, Thailand, and South Korea are expected to have a large geriatric population in the shortest span of time in the near future.
• This increase in the geriatric population is anticipated to boost the growth of the photobiostimulation devices market, as this section of the population is more prone to various age-related as well as chronic diseases. The need for photobiostimulation devices among such patients is relatively higher, which increases the demand for photobiostimulation devices for pain management.

Cosmetic Applications Segment to Grow Rapidly in the Photobiostimulation Devices Market

• The photobiostimulation devices market report offers detailed segmentation of the global photobiostimulation devices market based on wavelength type, application, and end user. The cosmetic applications segment is expected to expand at a significant CAGR in the photobiostimulation devices market during the forecast period. The cosmetic or aesthetic industry has expanded at a double digit growth rate, as a majority of the population is inclined toward enhancing their aesthetic appearance, and has accepted minimally-invasive procedures as a way to look appealing.
• Additionally, rise in disposable income is anticipated to increase the number cosmetic procedures across the world, which, in turn, is expected to boost the demand for photobiostimulation devices during the forecast period.
• However, photobiostimulation devices are categorized as high-risk laser devices. Hence, the product undergoes rigorous clinical trials prior to a PMA (premarket approval). Such rigorous premarket approval tests make it expensive and difficult for organizations to get their product approved and out in the photobiostimulation devices market. This is likely to act as a restraint of the global photobiostimulation devices market during the forecast period.

North America Dominated the Global Photobiostimulation Devices Market

• North America was the leading market for photobiostimulation devices in 2018. Factors such as aging population, increase in incidences of pain and wound diseases, and highly structured healthcare industry are fueling the growth of the photobiostimulation devices market in the region.
• According to the National Center for Complementary and Integrative Health, in 2016, approximately 20% of adults in the U.S. had chronic pain, and 8% had high-impact chronic pain. This is likely to drive the demand for photobiostimulation devices for pain management during the forecast period.

Key players

The top players in the market are Bioflex Laser Therapy, THOR Photomedicine Ltd, iRestore Laser , Ingeneus Pty. Ltd., HairMax, and Others.

In the market for photobiostimulation systems, the level of competition continues modest, because there are only a few slightly leading players. In the industry of photobiostimulation systems, big pharmaceutical drug suppliers are increasingly entering, thus increasing the amount of rivalry on the market in the years to come. In order to co-develop innovative technology, frontrunners in the market for photobiostimulation systems adopt the purchase of product profiles and R&D units of emerging players.

Companies that are established in the photobiostimulation industry squeeze profit margins by lowering device prices which will probably remain a major strategy for building a powerful customer base. The participants are diligently working to expand their client base by creating personalized versions by sensing the huge growth potentials of the market for photobiostimulation systems in emerge nations such as China and India.

The study objectives of this report are:
• To analyze and study the global photobiostimulation devices capacity, production, value, consumption, status (2014-2018) and forecast (2019-2026);
• Focuses on the key photobiostimulation devices manufacturers, to study the capacity, production, value, market share and development plans in future.
• Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.

Market Segmentation

Global Photobiostimulation Devices Market, By Wavelength Type

• Red Light
• Infrared Light
• Others

Global Photobiostimulation Devices Market, By Application

• Pain Management
• Wound Care
• Cosmetics
• Others

Global Photobiostimulation Devices Market, By End User

• Research Institutions
• Specialty Clinics
• Home Care
• Others

Global Photobiostimulation Devices Market, By Geography

• North America.
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa (MEA)