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Photomedicine Market By Technology, By Application : Global Opportunity Analysis and Industry Forecast, 2020-2030

Photomedicine Market By Technology, By Application : Global Opportunity Analysis and Industry Forecast, 2020-2030

  • March 2022
  • 151 pages
  • ID: 6286236
  • Format: PDF
  • Allied Market Research

Summary

Table of Contents

Photomedicine Market By Technology (Lasers, Polychromatic Polarized Light, Full Spectrum Light, Dichroic Lamps, Light Emitting Diodes, Fluorescent Lamps), By Application (Dermatology, Pain Management, Oncology, Ophthalmology, Wound Healing, Dental Procedures, Aesthetics, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

The global photomedicine market was valued at $4,048 million in 2020, and is estimated to reach $7,510 million by 2030, growing at a CAGR of 6.7% from 2021 to 2030.
 
Photomedicine is an interdisciplinary branch of science that involves the study of light and its therapeutic application in various healthcare fields. In this technology, the disease can be detected and treated by exposing the damaged area to light with specific wavelengths. Various wavelengths of light, such as blue, red, and near-infrared have a different effect on the body and are used to treat different diseases. Various light sources, such as LED and laser help to effectively and non-invasively treat the disease. As these procedures are minimally invasive, they do not leave a visible scar and the procedure is completed in a short time.
 
Advantages of using photomedicine devices, such as painless procedure and shorter length of hospital stay, have increased awareness about this technology. Phototherapy using different light sources, such as polychromatic polarized light and full spectrum light is used in the treatment of various skin and eye diseases. As photomedicine procedures are effective and minimally invasive, there is a rise in the adoption rate of photomedicine devices. Moreover, they are increasingly being used for aesthetic procedures, such as tattoo and unwanted hair removal.
 
This market is majorly driven by increase in demand by the consumer of aesthetic enhancement, which mainly comprise of minimally invasive procedures. Technological advancement in laser guided procedures for hair removal, tattoo removal, and skin resurfacing, especially in women, for beautification is on the rise. The youth and elderly are becoming more conscious of the importance of beauty and well-being. The elderly wish to look younger, which is accomplished by the use of aesthetic-enhancing operations. Photomedicine products are in high demand because they provide less invasive and effective cosmetic operations.
For instance, in October 2020, Alma Laser, one of the leading companies in the photomedicine market and a subsidiary of Sisram Medical, launched the Alma Hybrid platform, which comprises of CO2 laser, 1570nm laser, and IMPACT for trans-epidermal delivery for skin rejuvenation. Thus, launch of such products by key market players further boosts the market growth.
Market players have invested in various developing photomedicine products that aid in ophthalmological, wound healing, pain management, and wide range of dental procedures treatments. Moreover, rise in vision problems due excessive screen time on mobile and computer demand for lasik surgeries, which further drives the market growth.
Photomedicine products, such as the THOR Small LED Cluster, THOR Medium LED Cluster is used for wound healing and superficial musculoskeletal injuries. Similarly, THOR NIR Dental Laser is used for analgesia, deep anti-inflammatory & deep tissue repair. Alma Laser offers Soprano ICE Platinum based on trio clustered diode technology for hair removal. Thus, increase in availability of wide range of products increases the accessibility for the population and significantly drives the market growth.
However, availability of alternative treatment methods and product safety issues of photomedicine devices are expected to restrain the growth of the market. Conversely, presence of a plethora of products in the pipeline and high market potential in untapped emerging economies are anticipated to serve as attractive opportunities for the market growth during the forecast period.
 
The photomedicine market is segmented into technology, application, and region. On the basis of technology, it is classified into lasers, polychromatic polarized light, full spectrum light, dichroic lamps, light emitting diodes, and fluorescent lamps. On the basis of applications, it is segmented into dermatology, pain management, oncology, ophthalmology, wound healing, dental procedures, aesthetics, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, Middle East, and Africa (LAMEA).

The major players profiled in the report are Baring Private Equity Asia Limited (Lumenis Ltd.), Angiodynamics, Inc., Apax Partners LLP. (Syneron Medical Ltd.), Biomedical Technology Holdings Limited (Biolitec AG), Colorado Skin and Vein, Johnson and Johnson, Koninklijke Philips N.V., PhotoMedex, Inc., Sisram Medical Ltd. (Alma Lasers Ltd.), and Thor Photomedicine Ltd.
 

Key Benefits For Stakeholders
?This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the photomedicine market analysis from 2020 to 2030 to identify the prevailing photomedicine market growth opportunities.
?The market research is offered along with information related to key drivers, restraints, and opportunities.
?Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
?In-depth analysis of the photomedicine market segmentation assists to determine the prevailing market opportunities.
?Major countries in each region are mapped according to their revenue contribution to the global market.
?Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
?The report includes the analysis of the regional as well as global photomedicine market size, trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Technology
? Lasers
? Polychromatic Polarized Light
? Full Spectrum Light
? Dichroic Lamps
? Light Emitting Diodes
? Fluorescent Lamps

By Application
? Dermatology
? Pain Management
? Oncology
? Ophthalmology
? Wound Healing
? Dental Procedures
? Aesthetics
? Others

By Region
? Europe
? France
? Germany
? U.K.
? Italy
? Spain
? Rest of Europe
? Asia-Pacific
? Japan
? China
? Australia
? India
? South Korea
? Rest of Asia-Pacific
? LAMEA
? Brazil
? Saudi Arabia
? South Africa
? Rest of LAMEA
? North America
? U.S.
? Canada
? Mexico
? Key Market Players
? Baring Private Equity Asia Limited
? AngioDynamics, Inc.
? Apax Partners Llp
? Biomedical Technology Holdings Limited
? Colorado Skin and Vein
? johnson and johnson md&d
? PhotoMedex, Inc.
? Koninklijke Philips N.V.
? Sisram Medical Ltd.
? Thor Photomedicine Ltd.

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