Photomedicine Devices & Technologies Market Size & Share | Report 2028
The photomedicine devices and technologies market is projected to reach US$ 712.91 million by 2028 from US$ 497.40 million in 2021; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.
Photomedicine is a discipline of medicine that uses photobiology and light to cure diseases and other medical conditions. Lasers, full-spectrum light, dichroic lamps, polychromatic polarized light, light-emitting diodes, and fluorescent lamps are used in this treatment to expose people to specific wavelengths of light. Photomedicine is a new therapy option for a variety of disorders that has outperformed the old technique of diagnosing and detecting a condition. Factors such as a wider applicability of photomedicine and rise in demand for minimally invasive and noninvasive therapies are boosting the photomedicine devices and technologies market growth. However, the stringent regulatory framework for photomedicine technologies hampers the growth of the market.
Market Insights
Rise in Demand for Minimally Invasive and Noninvasive Therapies Boosts Photomedicine Devices and Technologies Market Growth
The popularity of minimally invasive medical procedures has increased in recent years, owing to the involvement of tiny incisions, faster recovery of patients, and less discomfort caused to the patients. Moreover, photomedicine procedures offer benefits such as less pain; less trauma to muscles, nerves, tissues, and organs; less bleeding and scarring; and minimal injuries to tissues. According to the American Society of Plastic Surgeons, in 2020, over 15.6 million minimally invasive cosmetic procedures were performed in the US. A total of 13,281,235 minimally invasive cosmetic procedures were performed in 2020. In the top 5 cosmetic minimally invasive procedures, intense pulsed light (IPL) treatment has replaced laser hair removal treatment by recording over 827,000 IPL procedures performed in 2020. According to a global report published by the International Society of Aesthetic Plastic Surgery (ISAPS), the number of aesthetic and cosmetic procedures performed worldwide increased to 23,266,374 in 2018 from 20,236,901 in 2014.
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Photomedicine Devices and Technologies Market: Strategic Insights
Photomedicine Devices and Technologies Market
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CAGR (2021 - 2028)
5.3%
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Market Size 2021
US$ 497.40 Million
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Market Size 2028
US$ 712.91 Million
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Alma Lasers
- Beurer GmbH
- Biolitec AG
- Lumenis
- Quantel Medical
- THOR Photomedicine Ltd
- Verilux Inc
- Candela Medical
- KONINKLIJKE PHILIPS N V
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Technology
- Photodynamic Therapy
- Immuno-PDT
- Fluorescence-Guided Surgery
- Photodynamic Diagnosis
- Lasers
Application
- Dermatology
- Oncology
- Tattoo Removal
- Hair Removal
- Optical Diagnostics
- Wound Healing
- Skin Resurfacing
- Neurology
- Gastroenterology
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Photomedicine Devices and Technologies Market: Strategic Insights
-
CAGR (2021 - 2028)5.3% -
Market Size 2021
US$ 497.40 Million -
Market Size 2028
US$ 712.91 Million
Market Dynamics
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- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Alma Lasers
- Beurer GmbH
- Biolitec AG
- Lumenis
- Quantel Medical
- THOR Photomedicine Ltd
- Verilux Inc
- Candela Medical
- KONINKLIJKE PHILIPS N V
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Photodynamic Therapy
- Immuno-PDT
- Fluorescence-Guided Surgery
- Photodynamic Diagnosis
- Lasers
- Dermatology
- Oncology
- Tattoo Removal
- Hair Removal
- Optical Diagnostics
- Wound Healing
- Skin Resurfacing
- Neurology
- Gastroenterology
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Technology Based Insights
Based on technology, the photomedicine devices and technologies market is segmented into Photodynamic Therapy (PDT), Immuno-PDT (Photoimmune Therapies), Fluorescence-Guided Surgery, Photodynamic Diagnosis, Photobiomodulation (Lasers Lights), and Other Technologies. The photodynamic therapy segment held the largest share of the market in 2021, and it is expected to register the highest CAGR during the forecast period.
Application -Based Insights
Based on Application, the photomedicine devices and technologies market is segmented into Aesthetics and Dermatology, Oncology, Ophthalmology, Neurology, Pain Management, Wound Healing, and Other Applications. The market for the Aesthetics and Dermatology segment is further segmented into hair removal, tattoo removal, skin resurfacing, and other applications. The aesthetics and dermatology segment held the largest market share in 2021, and the same segment is expected to register the highest CAGR in the market during the forecast period.
Various companies operating in the photomedicine devices and technologies market are adopting strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain brand name, and meet the growing demand from end users.
Photomedicine Devices & Technologies Market Report Scope
Report Attribute | Details |
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Market size in 2021 | US$ 497.40 Million |
Market Size by 2028 | US$ 712.91 Million |
Global CAGR (2021 - 2028) | 5.3% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Technology
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Photomedicine Devices and Technologies Market – by Technology
- Photodynamic Therapy (PDT)
- Immuno-PDT (Photoimmune Therapies)
- Fluorescence-Guided Surgery
- Photodynamic Diagnosis
- Photobiomodulation (Lasers Lights)
- Other Technologies
Photomedicine Devices and Technologies Market – by Application
- Aesthetics and Dermatology
- Hair Removal
- Tattoo Removal
- Skin Resurfacing
- Other Applications
- Oncology
- Ophthalmology
- Neurology
- Pain Management
- Wound Healing
- Other Applications
Photomedicine Devices and Technologies Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South America (SAM)
- Brazil
- Argentina
- Rest of South and Central America
Company Profiles
- Alma Lasers
- Beurer GmbH
- Biolitec AG
- Lumenis
- Quantel Medical
- THOR Photomedicine Ltd
- Verilux Inc
- Candela Medical
- KONINKLIJKE PHILIPS N.V
- Iridex Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Global photomedicine devices and technologies market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. In North America, the U.S. is the largest market for photomedicine devices and technologies. The US is estimated to hold the largest share in the photomedicine devices and technologies market during the forecast period. Whereas, Asia Pacific is the fastest growing region during the forecast period with highest CAGR rate of 6.1%. The growth of Asia Pacific photomedicine devices and technologies market is owing to, increasing burden of chronic diseases such as cancer, rise in demand for minimally invasive surgical procedures and growing adoption of photomedicine.
The photomedicine devices and technologies market majorly consists of the players such as Alma Lasers, Beurer GmbH., Biolitec AG, Lumenis, Quantel Medical, THOR Photomedicine Ltd, Verilux Inc, Candela Medical, KONINKLIJKE PHILIPS N.V., and Iridex Corporation, among others
The photodynamic therapy segment dominated the global photomedicine devices and technologies market and held the largest revenue share of 24.82% in 2021.
The aesthetics and dermatology segment dominated the global photomedicine devices and technologies market and accounted for the largest revenue share of 27.72% in 2021.
Photomedicine is a discipline of medicine that uses photobiology and light to cure diseases and other medical conditions. Photomedicine is the use of lasers, full-spectrum light, dichroic lamps, polychromatic polarized light, light-emitting diodes, and fluorescent lamps to expose people to specific wavelengths of light. Photomedicine is a new therapy option for a variety of disorders that has outperformed the old technique of diagnosing and detecting a condition.
Key factors that are driving the growth of this market are wider applicability of photomedicine and rise in demand for minimally invasive and non-invasive therapies.
The List of Companies - Photomedicine Devices and Technologies Market
- Alma Lasers
- Beurer GmbH
- Biolitec AG
- Lumenis
- Quantel Medical
- THOR Photomedicine Ltd
- Verilux Inc
- Candela Medical
- KONINKLIJKE PHILIPS N.V
- Iridex Corporation