Podiatry Laser Market to Set Phenomenal Growth from 2017 to 2025
Podiatry is the branch of medicine concerning the foot, ankle, and lower extremities. Laser treatment is an important tool in several podiatry practices. Advanced laser therapy combines the principles of biology, physics, and technology. According to a survey conducted by GenesisPlus, one-third of the global podiatrists are actively considering incorporation of laser technology into practice and over 60% of them believe laser treatment clears toenail fungus and relieves the symptoms. About 19% of the population of the U.S. has an average of 1.4 foot problems each year. Major types of foot and ankle problems are foot infections, including athlete’s foot, other fungal infections, warts, ingrown toenails or other toenail problems, corns or calluses, and diabetic foot syndrome. Advancements in laser technology, increasing incidence of podiatry diseases, and podiatry health awareness are the factors contributing to the growth of the global podiatry laser market. However, high cost of laser therapy restrains the market. According to study published by the International Diabetes Federation [IDF], 2009, foot complications account for up to 20% of total health care resources available in developed countries.
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The global podiatry laser market can be segmented based on product type, end-user, application, and region. In terms of product type, the global podiatry laser market can be categorized into fiber lasers, CO2 podiatry surgical laser, intense pulsed light (IPL), Nd:YAG (neodymium-doped yttrium aluminium garnet; Nd:Y3Al5O12) laser, TruBlue, KTP-laser, and diode laser. The CO2 lasers are preferred by surgeons owing to its accuracy and precision which enables treatment of area less than 1 mm. The Nd:YAG laser treats deeper layers of skin tissues than other types of lasers with the wavelength 1064 nm than other types of lasers. Based on end-user, the market can be divided into hospitals, podiatry clinics, and others. In terms of application, the global podiatry laser market can be segmented into diabetic foot syndrome, fungal nail infection, inflammation, warts, wound healing, superficial dermal lesions analgesia, and wart removal.
In terms of region, the global podiatry laser market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America accounts for the largest share of the global podiatry laser market. Increasing prevalence of diabetes owing to changing lifestyles, rising health care awareness, and high per capita spending capacity are the factors contributing to the growth of the global podiatry laser market in the region. For instance, according to IMPA, in the U.S., more than 65,700 nontraumatic lower extremity arterials (LEAs) were performed in a year on people with diabetes. Europe is the next major market for podiatry laser owing to high level research community, a strong network of companies and end-users in Europe. Asia Pacific is an emerging market due to increasing awareness about laser technology, improving economic conditions, and health care awareness.
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Key players operating in the global podiatry laser market include BritaMed, Inc., NuvoLase, Inc., Light Age Incorporated, CoolTouch, Cutera, A.R.C. Laser GmbH, Erchonia Corporation, Multi Radiance Medical, Sheaumann Laser, Inc., INTERmedic Arfran, AMD LASERS, and LightScalpel.
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