Photobiostimulation Market Size (2024 - 2029)

Photobiostimulation Market Analysis

The Photobiostimulation Market size is estimated at USD 240.80 million in 2024, and is expected to reach USD 393.40 million by 2029, growing at a CAGR of 10.31% during the forecast period (2024-2029).

The significant factor attributing to the market growth is the growing incidence of chronic diseases, leading to an increase in the number of patients being treated using methods of photobiostimulation. Additional factors, such as the rising prevalence of chronic pain disorders such as arthritis, osteoporosis, and the increasing geriatric population, will drive the market for photobiostimulation during the forecast period. For instance, according to a report published by the Osteoarthritis Action Alliance in January 2024, it is estimated that 1 in 5 United States adults have some form of arthritis, and osteoarthritis (OA) is the most common form of arthritis, affecting 32.5 million United States adults. Hence, the high prevalence of osteoarthritis in the United States is expected to drive the demand for photobiostimulation therapy in the forecasted period in the region.

Photobiostimulation therapy has also been utilized in diabetic wound healing treatment. A photobiomodulation response is produced when cells are exposed to radiation, which changes cellular functions and promotes the healing of diabetic wounds. By modifying many cellular and molecular processes, photobiomodulation therapy (PBMT) employing red and near-infrared (NIR) wavelengths is considered a promising treatment for accelerating the rate of diabetic wound healing, eliminating pain, and reducing inflammation. According to a report published by the International Diabetic Federation (IDF) in 2022, 537 million people have diabetes worldwide in 2021, and more than 51 million people will be in the North American region; by 2045, it will rise to 63 million. The diabetic population is high in the United States, which ultimately results in a higher number of diabetic foot ulcers. This is likely to increase the demand for photobiostimulation therapy as a cure, and it is expected to grow in the market over the forecast period.

Advancements in technology and new product launches by the market players focusing on photobiostimulation therapy are also aiding the growth of the studied market over the forecast period. For instance, in June 2023, Lumaflex, a health tech company, launched its new Lumaflex Body Pro. This revolutionary red light therapy device is currently in production and has achieved FDA Class 2 Certification. It has become a popular treatment for muscle recovery among fitness communities such as bodybuilders and mixed martial arts (MMA) athletes.

Moreover, in February 2024, BIOPTRON AG presented positive clinical data on using photobiostimulation treatment devices for wound healing at the Dubai World Dermatology Congress. The study discovered that the therapy dramatically decreased healing time while improving patient outcomes. Therefore, rising clinical trials and company activities are likely to add to the market growth.

Thus, the growing incidence of chronic diseases like diabetes and technological advancements accompanied by new products launched are expected to propel the growth of the photobiostimulation market. However, the rising availability of alternative treatments will hinder the market's growth over the forecast period.

Photobiostimulation Industry Segmentation

As per the scope of this report, photobiostimulants are being used to minimize tissue damage and reduce swelling, pain, and edema to treat deeper skin wounds and nerves. The photobiostimulation market is segmented by Technique, Wavelength Type, End-User, and Geography. The technique segment is further segmented into Wound Care, Pain Management, Cosmetic Application, and Other Techniques. The wavelength is further separated into Infrared Light, Red Light, and Other Wavelength Types. The End User Segment is further divided into Specialty Clinics, Research Institutes, and Other End Users. The geography region is segregated into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value in USD for the above segments.