Photomedicine market is driven by several factors, including the rising awareness regarding the minimally invasive procedure, expansion in laser delivery procedure, and increasing demand for cosmetic surgeries. Moreover, the growing adoption of enhanced and advanced laser therapies is expected to boost the photomedicine market during the forecast period. According to American Society of Plastic Surgery, in 2018, Americansspentover $16.5 billion on cosmetics plastic surgery. The aesthetic process is the fastest growing and held one-third of the share due to increasing adoption of minimally invasive aesthetic technology and growing consciousness of physical appearances. The different technologies used in photomedicine market includeslaser, bioptron light therapy, full spectrum light, dichroic lamps, and light emitting diodes and fluorescent lamps, and polychromatic polarized light.
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In the US,the cost of cosmetic surgery is higher than the emerging countries and as cosmetic surgeries are not covered under the insurance scheme, people must pay the cost from their pockets. Emerging countries, such as India and Malaysia, have been attracting a rising number of international patients through state-of-the-art healthcare services. The cost may be differing for elective process and cosmetic surgery. High cost of photomedicine and low insurance coverage is hampering the photomedicine market. The main areas of photomedicine include photodynamic therapy, photo immune therapy, fluorescence guided surgery, and photodynamic diagnosis.
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Laser technology generates considerable revenue in the photomedicine market, owing to its successful application in cancer treatment. Therefore, the photomedicine market is anticipated to grow at a significant rate during the forecast period. Exact penetration of light in targeted area enables to expand the cells, treating in different infections, and the atomic composition of the tissue, are some the applications associated laser technology. These are utilized as an indicative and remedial purpose for different fields such as pain management, dental procedure, and oncology and wound healing. The increasing demand for minimally invasive aesthetic technology in emerging countries, such as India and China are expected to drive the growth of the market in the near future. The results in innovation in photomedicine technology represents less visible scar and less time as compared to conventional methods.
Global Photomedicine Market- Segmentation
By Application
- Dermatology
- Ophthalmology
- Dentistry
- Oncology
- Wound Healing
- Others (Surgical Procedures)
By Technology
- Laser
- Bioptron light Therapy
- Full Spectrum Light
- Dichroic Lamps
- Light emitting Diodes & Fluorescent Lamps
- Polychromatic Polarized Light
Global Photomedicine Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
Company Profiles
- Abbott Laboratories
- Alma Lasers GmbH
- Angio Dynamics, Inc.
- Aura Medical
- BIOLASE, Inc.
- biolitecAG
- Bright Medicine
- Candela Corp.
- Carl Zeiss Meditec AG
- IRIDEX Corp.
- Koninklijke Philips N.V.
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