Global Photomedicine Devices Market – Industry Trends and Forecast to 2029

Global Photomedicine Devices Market, By Application (Dermatology, Tattoo Removal, Hair Removal, Skin Resurfacing, Wound Healing, Pain Management, Oncology, Optical Diagnostics, Dental Procedures, Neonatal Jaundice, Seasonal Affective Disorder), Technology (Laser, Polychromatic Polarized Light, Full Spectrum Light, Dichroic Lamps, Light Emitting Diodes)-Industry Trends and Forecast to 2029

Market Analysis and Size

Photomedicine is a medicine that uses photobiology and light to treat and diagnose diseases and other health-related conditions. Lasers, full-spectrum light, light-emitting diodes, fluorescent lamps, dichroic lamps, and polychromatic polarised light are used to expose the individual to light with specified wavelengths. Photomedicine can be used to treat and diagnose cancer, heart disease, and a variety of illnesses.

Data Bridge Market Research analyses that the photomedicine devices market which was USD 497.40 million in 2021, would rocket up to USD 780.89 million by 2029, and is expected to undergo a CAGR of 5.80% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Photomedicine is a branch of medicine that employs photobiology and light to treat diseases and other ailments. To expose humans to certain wavelengths of light, lasers, full-spectrum light, dichroic lamps, polychromatic polarised light, light-emitting diodes, and fluorescent lamps are employed. Photomedicine is a new treatment option for a number of ailments that has outperformed traditional methods of diagnosing and detecting diseases.

Photomedicine Devices Market Dynamics

Drivers

• Rise in minimally invasive aesthetic surgeries

The rising concern among young people about their physical and aesthetic appearance is a major factor driving this expansion. Furthermore, advantages associated with laser surgery, such as quicker recovery times, painless procedures, cost effectiveness, and shorter hospital stays, are likely to drive demand for minimally invasive aesthetic surgeries over the forecast period.

• Adoption of non-invasive procedures

Market expansion is driven by an increase in the incidence of skin damage, changes in lifestyle, and increased demand for cosmetic enhancement operations such as skin resurfacing, laser hair removal, and others, particularly among women for beautification. The youth and the elderly are becoming more conscious of beauty and well-being. People in their eighties and nineties wish to seem younger, which can be accomplished with the use of cosmetic operations. Photomedicine products are in high demand because they provide minimally invasive and effective aesthetic operations. As a result, several companies are developing and obtaining government permission for treatments that can be used for a variety of aesthetic operations, such as hair removal and tattoo removal.

• Increase in people suffering from vision

Ophthalmological concerns arise as a result of an increase in the number of people suffering from vision problems as a result of natural causes such as excessive use of television and computers, or as a result of a head injury. Furthermore, an increase in dermatological concerns such as acne and psoriasis, as well as an increase in dentistry treatments and demand for pain management therapies, all contribute to market expansion.

Opportunities

The photomedicine sector has grown at a breakneck pace in recent years, and this trend is projected to continue. Consumers, for the most part, prefer treatments that yield faster results, good outcomes, and offer the most procedural comfort. Furthermore, an increase in preference for keeping youthfulness and self-appearance, as well as an increase in disposable expenditures in developing nations, are major factors contributing to the surge in demand for aesthetic medicine.

Restraints/Challenges

The market's growth is likely to be hampered by the high cost of photomedicine and advanced device technologies, as well as safety concerns about photomedicine devices.

This photomedicine devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the photomedicine devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 impact on Photomedicine Devices Market

The photomedicine devices market is expected to suffer as a result of the COVID-19 epidemic. A large number of clinics and hospitals around the world have been reconfigured to boost hospital capacity for COVID-19 patients. Due to the fast increase in COVID-19 cases, non-essential procedures may face a backlog. Manufacturing and shipping of healthcare essentials were also disrupted as a result of the shutdown. During the COVID-19 pandemic, visits for aesthetic operations, dermatological treatments, dental procedures, and other photomedicine-based therapies declined considerably, badly impacting the industry. During the forecast period, however, an increase in immunisation rates is expected to stabilise the market.

Global Photomedicine Devices Market Scope

The photomedicine devices market is segmented on the basis of product type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

• Application
• Dermatology
• Tattoo removal
• Hair removal
• Skin resurfacing
• Wound Healing
• Pain Management
• Oncology
• Optical Diagnostics
• Dental Procedures
• Others

Technology

• Laser
• Polychromatic Polarized Light
• Full Spectrum Light
• Dichroic Lamps
• Light emitting diodes

Photomedicine Devices Market Regional Analysis/Insights

The photomedicine devices market is analysed and market size insights and trends are provided by country, application and technology as referenced above.

The countries covered in the photomedicine devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominating the market owing to favorable reimbursement policies, rising awareness among people, and greater penetration of laser therapeutics in the treatment of various diseases observed in this region. 

Asia-Pacific is anticipated to show lucrative growth during the forecast period 2022-2029 due to increasing demand for minimally invasive aesthetic procedures, rising geriatric population, ongoing cancer research, and the growing healthcare spending are contributing toward the highest regional growth 

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The portable patient isolation market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for portable patient isolation market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the portable patient isolation market. The data is available for historic period 2010-2020.

Competitive Landscape and Photomedicine Devices Market Share Analysis

The photomedicine devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to photomedicine devices market.

Some of the major players operating in the photomedicine devices market are:

• BPEA (Hong Kong)
• Angiodynamics (U.S)
• Apax Partners (U.K)
• Hong Kong Science & Technology Parks Corporation (Hong Kong)
• Colorado Skin & Vein (U.S)
• Johnson and Johnson Private Limited (U.S)
• Koninklijke Philips N.V. (Netherlands)
• PhotoMedex (U.S)
• Sisram Medical Ltd. (Israel)
• Thor Photomedicine Ltd. (U.K)
• Lumenis Be Ltd. (Israel)
• Alma Lasers Ltd (Israel)
• Candela Medical (U.S)
• IRIDEX Corporation (U.S)