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Photomedicine Technologies Market: Dynamics, Segments and Supply Demand 2013 – 2019
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Photomedicine has a broad range of applications, however some of the routinely used areas of applications are as follows:
Dermatology
Pain management
Oncology
Tattoo removal
Optical diagnostics
Wound healing
Dental procedures
Hair removal
Skin resurfacing
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Photomedicine also includes the cellular and molecular mechanisms of chemistry, pharmacology, pathology and physiology as they apply to photobiology.
Geographically, North America accounts for the largest market for photomedicine owing to the large base of baby boomers and increased desire to retain youth and beauty among population. Based on a report by American Society of Plastic Surgeons (ASPS), it has been estimated that in 2012 approximately 45,534 procedures for body contouring were performed on weight reducing patients in the U.S. However, other growing markets such as Germany, Italy, Japan, India, China, Brazil and Saudi Arabia are expected to witness high market growth owing to the rise in demand for novel therapies for body contouring and other medical conditions.
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The primary factors contributing in the growth of this market are rise in aging population and increased awareness for beauty and well-being among people. Moreover, other factors contributing in this market are high adoption rate of minimally invasive medical aesthetic technologies and development of advance body contouring devices for better outcome. However, high development costs and product safety issues are some factors that might impede the overall growth of the photomedicine market.
Some of the companies involved in the photomedicine market are THOR Photomedicine Ltd., The Wellman Center for Photomedicine, Lumenis Ltd., Colorado Skin and Vein and Alma Lasers Ltd.
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