Photomedicine Devices and Technologies Market is expected to reach US$ 712.91 Million by 2028

PRESS RELEASE BY The Insight Partners 23 Nov 2021

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Photodynamic Therapy Segment to Lead Photomedicine Devices and Technologies Market During 2021–2028

According to our latest study on “Photomedicine Devices and Technologies Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology and Application,” the 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. The report highlights the key factors driving the market growth and prominent players with their developments in the market. 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.

The photomedicine devices and technologies market, based on technology, 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 24.82% of the market in 2021. 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 application. 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.

Photodynamic therapy (PDT) is the medical treatment used for treating acne, actinic keratosis, age-related macular degeneration, psoriasis, cancer, and various other diseases. The PDT uses specific drugs or photosensitizing agents in combination with light energy for treating localized diseases. The PDT treatment shows promising results as it works directly on the injured or damaged cells, by producing activated oxygen that kills the target cells only. It is a preferred treatment for numerable diseases as it protects the healthy cells from the damage and does not cause scarring, which is most common in treating skin cancer and precancers.

Alma Lasers, Beurer GmbH., Biolitec AG, Lumenis, Quantel Medical, THOR Photomedicine Ltd, Verilux Inc, Candela Medical, KONINKLIJKE PHILIPS N.V., and Iridex Corporation are among the leading companies operating in the photomedicine devices and technologies market.

Photomedicine Devices and Technologies Market, by Region, 2021 (%)

Photomedicine Devices & Technologies Market Size & Share | Report 2028

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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)

The Photomedicine Devices and Technologies Market has Been Segmented as Follows:

The photomedicine devices and technologies market is bifurcated on the basis of technology and application. Based on technology, the market is segmented into Photodynamic Therapy (PDT), Immuno-PDT (Photoimmune Therapies), Fluorescence-Guided Surgery, Photodynamic Diagnosis, Photobiomodulation (Lasers Lights), and Other Technologies. 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 subsegmented into hair removal, tattoo removal, skin resurfacing and other applications.

By Geography

North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC
Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM

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