Pain Management Segment to Hold Largest Share of Medical Photobiostimulation System Market During 2021–2028
According to our latest study on “Medical Photobiostimulation System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, and Application,” the market is projected to reach US$ 314.88 million by 2028 from US$ 204.66 million in 2021; it is expected to grow at a CAGR of 6.3% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
The healthcare sector has witnessed SARS, H1N1, and other outbreaks in the past few years. As a result, healthcare systems are overburdened, and the delivery of medical care to all patients has become a challenge in all major regions. The medical photobiostimulation system market witnessed some shortfall at the beginning of COVID-19 crisis owing to factors such as disruption in supply chain and demand due to lock down announced by majority of European countries. As per the news article, in Italy, due to Covid-19 emergency, access for thousands of cancer patients in need of chemotherapy, scans, transplants and surgery has become difficult. Market player and end user losses their business due to the temporarily shutting down of industries in various region.
Based on application, the medical photobiostimulation system market is segmented into pain management, wound care, cosmetic applications, others. The pain management segment is estimated to hold the largest share of the market in 2021; however wound care segment is estimated to register the highest CAGR in the market during the forecast period. The growth of the market for wound care segment is attributed to increasing aging population and increasing incidences of infection in diabetic foot ulcers.
BioLight Technologies LLC.; Omega Laser Systems Ltd; Vielight Inc.; Theradome Inc.; Lexington Intl., LLC; THOR Photomedicine Ltd; Ingeneus; iRestore Hair Growth System; Meditech International Inc. (BIOFLEX Laser Therapy); and Apira Science, Inc. (iGrow Laser) are among the leading companies operating in the global medical photobiostimulation system market.
The report segments medical photobiostimulation system market as follows:
The medical photobiostimulation system market is segmented on the basis of type and application. Based on type, the market is segmented into infrared light, red light, and others. Based on application, the market is segmented into pain management, wound care, cosmetic applications, others. Pain management is further segmented into dentistry, veterinary, and others.
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- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South and Central America (SCAM)
- Rest of SCAM