Global Laser Therapy Devices Billion Dollar Market Thriving on Growing Demand
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Oct. 4, 2022 /PRNewswire/ -- The laser therapy market has been having a very health growth trend in recent years and is expected to continue through the coming years. Minimally invasive surgical procedures have entered the limelight within the global healthcare space. Incidences of surgical wounds and corresponding infections from conventional procedures have necessitated a shift towards alternative approaches. This has boded well for the laser therapy devices market. Medical practitioners are exhibiting a high tilt towards low level laser therapy (LLLT), amid a growing perception of it improving patient outcomes and reducing incidences of laser surgery associated side-effects in the long-run. Moreover, maximum applications are expected in cancer treatment, addressing ophthalmic disorders and aesthetics medicine. A recent report from Future Market Insights' (FMI) on the global laser therapy devices market expects a healthy growth trend, reach a value of almost US$ 2 billion by 2022, registering a CAGR of around 4%. Long-term prospects also appear bright, with numerous large-scale investments underway to adopt laser treatment procedures, amid rising inclination towards minimally invasive surgeries. The report said:" As per FMI's analysis, oncology and aesthetics treatment are expected to emerge as key growth engines, followed by ophthalmology applications. Furthermore, preference for low level laser therapy (LLLT) is expected to increase, prompting key manufacturers to introduce a slew of innovative laser therapy devices solutions in the long-run." Active companies in the markets this week include ShiftPixy, Inc. (NASDAQ: PIXY), Edwards Lifesciences Corporation (NYSE: EW), Biofrontera Inc. (NASDAQ: BFRI), Lumentum Holdings Inc. (NASDAQ: LITE), Cutera, Inc. (NASDAQ: CUTR).
The article added: "According to the Cancer Atlas, there were an estimated 18.1 million active cases, with over 9 million cancer deaths in 2018. Additionally, nearly 44 million individual persons living with cancer that same year who were diagnosed within the previous' five years. It is projected that this burden is expected to rise by over 60% by 2040. Hence, credible progress is expected to be made in this regard. By device type, gas laser therapy devices to account for more than a quarter of the revenue share through 2021. A fifth of the total laser therapy devices revenue is accounted for by hospitals, specialty clinics to generate over half of the total share. ophthalmology treatment is likely to account for the bulk of the revenue share in the laser therapy devices market"
ShiftPixy, Inc. (NASDAQ: PIXY) BREAKING NEWS: ShiftPixy Announces Quelliv Incubation Launch – ShiftPixy ("ShiftPixy" or "the Company"), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced the successful incubation launch of Quelliv Inc. low level laser centers which provide an effective, non-invasive therapeutic alternative to ease pain, reduce inflammation, enhance skin health, and activate personal well-being. Quelliv laser centers are powered by industry leader Genesis One Lasers to ensure effective sessions with long-lasting results.
"After getting to know the science that powers Quelliv, we were very motivated to help incubate and position Quelliv for a very exciting growth journey," said ShiftPixy Co-Founder and Chief Executive Officer, Scott Absher. "The incubation process for Quelliv is central to what ShiftPixy Labs does, from taking an initial idea through to funding and mass commercialization. Quelliv is another example of our active engagement process and quest to build large national clients for the unique ShiftPixy platform."
Quelliv CEO Mike Keyes said, "I have spent a lot of time over the past two years with the ShiftPixy Labs team since the formation of the company, building our business plan, fleshing out our brand, digging through the research and identifying our targeted national locations. The ShiftPixy Labs development team has purpose-built our mobile customer experience to better connect us with our customers and elevate their engagement with the Quelliv brand and experience." CONTINUED… Read this and more news for ShiftPixy at: https://www.financialnewsmedia.com/news-pixy/
In other developments in the markets:
Edwards Lifesciences Corporation (NYSE: EW) recently announced results from CLASP IID, the first randomized controlled trial that directly compares two contemporary transcatheter edge-to-edge repair (TEER) therapies. The study confirms TEER as a safe and effective therapy in patients with degenerative mitral regurgitation (DMR). Results from the CLASP IID pivotal trial were presented as a late-breaking clinical science session at the 34th Transcatheter Cardiovascular Therapeutics (TCT), the annual scientific symposium of the Cardiovascular Research Foundation, and published simultaneously in JACC: Cardiovascular Interventions.
Patients enrolled in the CLASP IID pivotal trial had severe symptomatic DMR and were determined to be at prohibitive surgical risk. The CLASP IID trial met its primary safety and effectiveness endpoints, with the PASCAL system demonstrating non-inferiority for safety and effectiveness compared to the MitraClip device. The PASCAL device showed: Low composite major adverse event rate of 3.4 percent at 30 days, and Significant and sustained MR reduction with 97.7 percent of patients achieving MR ≤2+ at six months.
Biofrontera Inc. (NASDAQ: BFRI) recently announced that the United States Patent and Trademark Office (USPTO) has granted a notice of allowance to Biofrontera Bioscience GmbH for patent application No. 12/520,759 (the '759 patent), titled "Nanoemulsion Formulation with Improved Stability and Cell Penetration." Biofrontera Inc. has an exclusive license to market and sell Ameluz®, an FDA-approved drug utilizing the technology covered by the patent, in the U.S.
The '759 patent relates to the compositions of Biofrontera's nanoemulsions and an active agent (such as in Ameluz®) and the preparation of the nanoemulsions or compositions, and describes its use in the treatment of dermatological, virus-associated and cell proliferation diseases, as well as in cosmetics. Biofrontera's compositions of nanoemulsions overcome the disadvantages of other nanoemulsion formulations through a reduced particle size that contributes to improved stability, better penetration into cells and tissues and lower production costs. The notice of allowance precedes the granting of the patent by the USPTO, which typically follows soon after the patent holder pays the required fee.
"This new patent will further protect Biofrontera's growing position in the dermatology market and our continued investment in the market. Compound-of-matter patents provide the strongest protection of all patent types. Our license agreement covers all combinations of the patented nanoemulsion technology with aminolevulinic acid, the active ingredient in Ameluz®. Together with Biofrontera Bioscience we are now even more strongly positioned to broaden the use of photodynamic therapy (PDT) in dermatology," stated Hermann Lübbert, Executive Chairman of Biofrontera Inc.
Lumentum Holdings Inc. (NASDAQ:LITE) recently announced that its 200G PAM4 externally-modulated lasers (EMLs) received the European Conference on Optical Communication (ECOC) Exhibition Industry Awards 2022 for the Data Center Innovation/Best Product category.
Hyperscale cloud operators need reliable, low-power, and low-cost solutions that enable higher-speed data links within their next-generation data centers. Lumentum's first-to-market 200G PAM4 EMLs leverage thirty years of technology expertise to deliver industry-leading performance and quality to data center operators seeking to scale their data centers for future needs.
Cutera, Inc. (NASDAQ: CUTR) recently announced that over 1,000 AviClear laser treatments have been performed in the United States. AviClear is the first and only energy-based device to be FDA-cleared for the treatment of mild, moderate and severe acne. Additionally, AviClear recently received approval from Health Canada for the treatment of all severities of acne as well as the treatment of acne scars.
AviClear has seen growing physician adoption and steadily increasing patient demand since its launch in April 2022. Through the application of the company's proprietary technologies, AviClear significantly reduces the severity and frequency of acne, with 90% of patients showing visible improvement at six months after completion of the treatment protocol. AviClear utilizes a first-to-market 1726nm wavelength laser to treat acne at the source, selectively targeting and suppressing the sebaceous glands. Treatment satisfaction ratings are high, with patients rating their AviClear treatment 4.9 out of 5 stars.
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