DUBLIN--(BUSINESS WIRE)--The "Medical Photobiostimulation System Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
Pain Management Segment to Hold Largest Share of Medical Photobiostimulation System Market During 2021-2028.
Medical Photobiostimulation System 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 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.
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.
Key Market Dynamics
- Growing Number of Patients Suffering from Chronic Disorders and Chronic Pain
- Rising Demand for Photobiostimulation Devices for Pain Management and Wound Care Due to Increasing Geriatric Population
- Stringent Regulatory Framework
- Rising Demand for Minimally Invasive and Noninvasive Therapies
- Continuous Technological Advancements in Medical Photobiostimulation Systems
Leading companies operating in the global medical photobiostimulation system market are
- BioLight Technologies LLC.
- Omega Laser Systems Ltd
- Vielight Inc.
- Theradome Inc.
- Lexington Intl., LLC
- THOR Photomedicine Ltd
- iRestore Hair Growth System
- Meditech International Inc. (BIOFLEX Laser Therapy)
- Apira Science, Inc. (iGrow Laser)
For more information about this report visit https://www.researchandmarkets.com/r/1fyba5