The cold laser therapy market size was valued at US$ 322.45 million in 2022 and is expected to reach US$ 522.40 million by 2030; it is estimated to record a CAGR of 6.2% during 2022-2030.

Key factor driving the market growth are the growing prevalence of chronic pain conditions such as orthopedic disorders and utilization of cold laser in dermatology propel the cold laser therapy market growth. However, a shortage of technically skilled personnel and high treatment costs impede the growth of the market.

Market Drivers of the Cold Laser Therapy Market

Cold laser therapy has diverse applications across multiple healthcare domains, spanning pain management, orthopedics, dermatology, and dentistry. Due to the rising prevalence of orthopedic conditions such as arthritis, musculoskeletal injuries, neuropathic pain, and chronic injuries, the utilization of cold laser therapy in healthcare institutions and homecare settings has increased. According to the data published by the World Health Organization (WHO), in February 2021, ~1.71 billion individuals worldwide suffered from musculoskeletal problems, with lower back pain being the most widespread musculoskeletal condition, affecting 568 million people globally. Cold laser therapy is a noninvasive and effective treatment to alleviate chronic back pain. A study, "Effectiveness of Low-Level Laser Therapy in Patients with Discogenic Lumbar Radiculopathy," published by Hindawi in February 2022, was carried out with 110 patients suffering from acute lower back pain and unilateral discogenic lumbar radiculopathy. Of the total patients, 55 were treated with LLLT combined with conventional physical therapy, while the control group of 55 patients was treated with only conventional physical therapy. The study demonstrated that LLLT, as an adjunct therapy to conventional physical therapy, significantly improved local trunk movements, pain intensity, and related functional disability, compared with conventional physical therapy alone in treating discogenic lumbar radiculopathy.

Additionally, cold laser therapy is employed in dermatology and aesthetic medicine for noninvasive skin rejuvenation, anti-aging treatment, and improvement of skin texture. The most successful commercial use of LLLT is in managing androgenetic alopecia (AGA) for both men and women. A study, "Efficacy Assessment for Low-Level Laser Therapy in the Treatment of Androgenetic Alopecia," published by Springer Link in February 2022, was carried out on 1,383 patients using Food and Drug Administration (FDA)-cleared iHelmet (Slinph Technologies Co., Ltd, Shenzhen, China). The study showed that treatment with LLLT helmets was moderately effective for 51.9% of users with mild AGA and 57.4% with moderate-to-severe AGA. Therefore, the abovementioned factors contribute to the growing utilization of cold laser devices as a therapeutic modality in modern healthcare settings and are responsible for the cold laser therapy market growth.

Cold Laser Therapy Market: Segmental Overview

The cold laser therapy market, by product, is segmented into instruments and accessories. The instruments segment held the larger cold laser therapy market share in 2022 and is anticipated to register a higher CAGR during 2022-2030. Cold laser devices utilize low-frequency continuous, pulsated or combination lasers with a typically 600 to 1000 nm wavelength to provide a noninvasive alternative to surgery and acupuncture. It eliminates the complications of long-term drug treatment programs.

By application, the cold laser therapy market is segmented into orthopedics, dermatology, neurology and others. The orthopedics segment is expected to hold the largest market share in 2022. During cold laser therapy, the laser light penetrates the affected tissues and triggers a series of physiological reactions to reduce inflammation, improve blood circulation, and ultimately relieve knee pain. In 2021, guidelines released by American Academy of Orthopaedic Surgeons (AAOS) included laser therapy for treating pain and inflammation associated with knee osteoarthritis. Further, the dermatology segment is anticipated to register the highest CAGR during 2022-2030.

The market, by end-user, is segmented into hospitals, specialty clinics, homecare settings, and others. In 2022, the hospital segment held the largest share of the market. The specialty clinics segment is anticipated to register the highest CAGR during 2022-2030.

Cold Laser Therapy Market: Geographical Overview

Based on geography, the market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America. In terms of revenue, North America dominated the cold laser therapy market share in 2022. During the forecast period, Asia Pacific is expected to register the fastest CAGR in the cold laser therapy market.

In 2022, North America held the largest global market share and is estimated to continue its dominance from 2022 to 2030. The US held the largest market share in the region in 2022, followed by Canada. According to the US Office of Disease Prevention and Health Promotion, the prevalence of arthritis is expected to rise to 78.4 million by 2040 due to aging and other population trends such as obesity. The US has a high prevalence of orthopedic diseases and musculoskeletal injuries, expanding the region's cold laser therapy market share. According to the Canadian Journal of Health Technologies, in 2022, ~8 million people in Canada live with chronic pain, and 80% of adults experience chronic low back pain at least once during their lifetime. These individuals face various challenges impacting their social, physical, mental, and professional aspects on a daily basis. The availability of innovative cold laser devices such as Erchonia FX 635, a well-developed healthcare infrastructure, and the rising adoption of advanced laser therapy technologies are expected to fuel regional market growth from 2022 to 2030.