PHOTOBIOMODULATION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The global photobiomodulation market is estimated to be valued a USD 230.3 Mn in 2024 and is expected to reach USD 455.1 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.Photobiomodulation or low-level light therapy is a treatment method that uses light to stimulate or inhibit cellular function. It is a form of phototherapy involving the exposure of an injured or diseased body part to visible or near-infrared light. The light is absorbed by specific photoacceptors like cytochrome c oxidase which leads to changes in cell metabolism aimed at modulating cellular function, reducing inflammation, and increasing cellular energy. With the growing prevalence of chronic diseases and increasing awareness about non-invasive therapeutic approaches, the global market for photobiomodulation is witnessing strong growth over the past few years.
Market Dynamics:
The global photobiomodulation market is driven by rising geriatric population, increasing incidence of neurological disorders and chronic wounds, and growing preference for non-invasive treatment modalities. However, limited clinical evidence, inadequate reimbursement policies, and high costs associated with equipment are restraining the market growth. Developing applications of photobiomodulation in cosmetic procedures and emergence of home-use devices presents significant opportunities for market expansion. Geographically, North America dominates the market currently owing to technological advancements and availability of funding for research. However, Asia Pacific is expected to witness the fastest growth during the forecast period with increasing medical tourism and healthcare investments.
Key Features of the Study:
- This report provides in-depth analysis of the global photobiomodulation market, and provides market size (USD Million) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global photobiomodulation market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Alcon Inc., THOR Photomedicine Ltd., BioLight Technologies LLC, Erchonia Corporation, Vielight Inc., Lumenis Ltd., Aspen Laser Systems, Noveon Inc., Apira Science Inc., LightForce Therapy, Zynex Medical, BTL Industries, LaserStar Technologies, Meditech, and QRS Global
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global photobiomodulation market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global photobiomodulation market
Market Segmentation
Market Segmentation
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