The Global Photomedicine Technologies Market is growing from $300.9 million in 2014 to $372 million in 2022, with a CAGR of 4.3 percent.
Photomedicine is a branch of medicine that involves the application of light and photobiology for the treatment and diagnosis of diseases and complications related with health. Photomedicine consists of exposure to lights with specific wavelengths using lasers, polychromatic polarized light, full-spectrum light, dichroic lamps, light-emitting diodes and fluorescent lamps.
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The global photomedicine technologies market comprises of three key segments:
- By application (Dermatology, Pain management, Oncology, Tattoo removal, Optical diagnostics, Wound healing, Dental procedures, Hair removal, Skin resurfacing). It also includes the cellular and molecular mechanism of chemistry, pharmacology, pathology and physiology as they apply to photobiology.
- By technology (lights and specific wavelength using lasers, polychromatic polarized light, Full spectrum light, Dichroic lamps and light emitting diodes)
- Geographies analysed under the research report include North America, Asia Pacific, Europe and rest of the world. North America accounts for the largest market for photomedicine owing to the large base of baby boomers and increased desire to retain youth and beauty among population. it has been estimated that in 2012 approximately 45,534 procedures for body contouring were performed on weight reducing patients in the U.S. However, other growing markets such as Germany, Italy, Japan, India, China, Brazil and Saudi Arabia are expected to witness high market growth owing to the rise in demand for novel therapies for body contouring and other medical conditions.
The primary factors contributing in the growth of this market are rise in aging population and increased awareness for beauty and well-being among people. Moreover, other factors contributing in this market are high adoption rate of minimally invasive medical aesthetic technologies and development of advance body contouring devices for better outcome. However, high development costs and product safety issues are some factors that might impede the overall growth of the photomedicine market.
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Some key players of the photomedicine market are THOR Photomedicine Ltd., The Wellman Center for Photomedicine, Lumenis Ltd., Colorado Skin and Vein and Alma Lasers Ltd.
What the report offers:-
- Market Definition for the Global photomedicine technologies Market along with identification of key drivers and restraints for the market.
- Market analysis for the Global photomedicine technologies Market, with region specific assessments and competition analysis on a global and regional scale.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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