Photomedicine Devices & Technologies Market Size & Share | Report 2028

Photomedicine Devices and Technologies Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Photodynamic Therapy (PDT), Immuno-PDT (Photoimmune Therapies), Fluorescence-Guided Surgery, Photodynamic Diagnosis, Lasers, Others); Application (Dermatology, Oncology, Tattoo Removal, Hair Removal, Optical Diagnostics, Wound Healing, Skin Resurfacing, Neurology, Gastroenterology, Others)

  • Report Code : TIPMD00002381
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 180

Photomedicine Devices & Technologies Market Size & Share | Report 2028

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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
  • CAGR
    CAGR (2021 - 2028)
    5.3%
  • Market Size 2021
    US$ 497.40 Million
  • 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

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentTechnology
  • Photodynamic Therapy
  • Immuno-PDT
  • Fluorescence-Guided Surgery
  • Photodynamic Diagnosis
  • Lasers
Market SegmentApplication
  • 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
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
  • Photodynamic Therapy
  • Immuno-PDT
  • Fluorescence-Guided Surgery
  • Photodynamic Diagnosis
  • Lasers
By Application
  • Dermatology
  • Oncology
  • Tattoo Removal
  • Hair Removal
  • Optical Diagnostics
  • Wound Healing
  • Skin Resurfacing
  • Neurology
  • Gastroenterology
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Alma Lasers
  • Beurer GmbH
  • Biolitec AG
  • Lumenis
  • Quantel Medical
  • THOR Photomedicine Ltd
  • Verilux Inc
  • Candela Medical
  • KONINKLIJKE PHILIPS N V
  • 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

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

Technology, Application, and Geography

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

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


What is the regional market scenario of photomedicine devices and diagnostics?

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.

Who are the key players in the photomedicine devices and technologies market?

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

Which technology led the photomedicine devices and technologies market?

The photodynamic therapy segment dominated the global photomedicine devices and technologies market and held the largest revenue share of 24.82% in 2021.

Which application held the largest share in the photomedicine devices and technologies market?

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.

What is Photomedicine?

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.

What are the driving factors for the photomedicine devices and technologies market across the globe?

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

  1. Alma Lasers
  2. Beurer GmbH
  3. Biolitec AG
  4. Lumenis
  5. Quantel Medical
  6. THOR Photomedicine Ltd
  7. Verilux Inc
  8. Candela Medical
  9. KONINKLIJKE PHILIPS N.V
  10. Iridex Corporation

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