According to the latest report by IMARC Group, titled "Energy-based Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global energy-based therapeutics market reached a value of US$ 7.1 Billion in 2022. Energy-based therapeutics refers to using energy in various forms to treat medical conditions. This field of medicine has seen rapid growth in recent years due to the development of advanced technologies and the availability of minimally invasive procedures. The energy sources used in energy-based therapeutics include electromagnetic radiation, ultrasound, radiofrequency, and laser. They offer several advantages over traditional surgical procedures, including reduced pain and scarring, faster recovery times, and decreased risks of infection. They represent an exciting and rapidly evolving field of medicine that has the potential to revolutionize the diagnosis and treatment a variety of medical conditions. With ongoing advances in technology and research, energy-based therapeutics will likely continue to gain popularity and efficacy in the years to come.
Global Energy-based Therapeutics Market Trends:
The global market is primarily driven by the increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and chronic pain. In line with this, the growing demand for minimally invasive procedures and expanding geriatric population are significantly contributing to the market growth. Furthermore, continual technological advancements, such as developing more precise and efficient energy-based devices, are expected to fuel the market. Apart from this, the heavy funding and investments in research and development of energy-based therapeutics are creating a positive outlook for the market. Besides, the escalating demand for cosmetic and aesthetic procedures, inflating disposable incomes of individuals, and increased healthcare spending are catalyzing the market. The rising awareness among patients and healthcare providers about the benefits of energy-based therapeutics is propelling the market. In addition, the increasing regulatory approvals for energy-based therapeutic devices and rapid advancements in imaging technologies for better visualization during energy-based procedures are strengthening the market. The growing demand for outpatient procedures and non-invasive and non-pharmacological treatments is offering lucrative opportunities in the market. The escalating number of clinical trials for energy-based therapeutics and expanding healthcare infrastructure and facilities are bolstering the market. Additionally, the increasing demand for energy-based devices for pain management, dental procedures, and the treatment of urological disorders are providing a boost to the market. On account of the factors above, the market is anticipated to reach a value of US$ 10.3 Billion by 2028, exhibiting a CAGR of 6.05% during 2023-2028.
- On the basis of the technology type, the market has been categorized into laser based, light based, radiofrequency based, ultrasound based, thermal, and others. Among these, laser based represent the largest market segment.
- Based on the clinical application, the market has been classified into aesthetic, surgical, and ophthalmic. Among these, aesthetic represents the largest market segment.
- Based on the end-user, the market has been segmented into hospital, clinics, and others. Among these, clinics represent the largest market segment.
- On the basis of the region, the market has been divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. At present, North America holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Johnson & Johnson, Lumenis, Syneron Medical, Abbott Medical Optics, Alcon, Alna Medical System, Angiodynamics, Atricure, and Biolase.
|Base Year of the Analysis
||Technology Type, Clinical Application, End-User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Johnson & Johnson, Lumenis, Syneron Medical, Abbott Medical Optics, Alcon, Alna Medical System, Angiodynamics, Atricure and Biolase
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