Photomedicine Market Booming in 2019 and Predicted to Achieve Double Digit CAGR by 2026

In photomedicine, light is emitted at specific frequencies with the help of different technologies such as laser, dichromatic lamps, and light emitting diodes. Proper penetration of light at target areas and at specific frequencies help to alter the cellular and molecular mechanism of the tissue and help in treatment of different diseases. These devices are used for diagnostic and therapeutic purposes for different fields such as pain management, wound healing, dental procedures, and oncology. Furthermore, photomedicine devices are also increasingly being used for different aesthetic procedures such as tattoo removal and skin resurfacing purposes.

The global photomedicine market was valued at $2,750 million in 2015, and is projected to reach $5,511 million by 2022, growing at a CAGR of 10.3% from 2016 to 2022.

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Photomedicine is the branch of medicine that involves the study of light and its application in the treatment and diagnosis of diseases. Different photomedicine technologies such as laser, fluorescent lamps, and polychromatic polarized light are used for various diagnostic and therapeutic purposes. In photomedicine, light at specific wavelength is used for therapeutic purposes in different fields such as ophthalmology, dermatology, and oncology. In addition, these technologies are also used for various aesthetic purposes such as hair and tattoo removal.

Increased awareness related to beauty and physical appearance among the youth, augmented R&D investment on photomedicine, and advancement in technology are anticipated to boost the market growth. The rise in the prevalence of various skin diseases such as psoriasis and acnes and eye diseases such as dry eyes and other vision problems will positively impact the market growth. The increase in incidence of neonatal jaundice and increase in awareness about the benefits of photomedicine also fuel the market growth. However, safety issues related to photomedicine devices and competition from alternative treatment methods are anticipated to hinder the market growth.

Aesthetic procedures segment is expected to be the fastest growing segment throughout the analysis period. It accounted for almost one-third of the total share of the market in 2015, owing to growing adoption of minimally invasive aesthetic technology and increasing awareness of physical appearance.

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The major companies profiled in the report provide extensive competitive analysis and profiles of key market players including

o Abbott Laboratories,
o Alma Lasers Ltd.,
o Angiodynamics, Inc.,
o Biolitec AG,
o Colorado Skin and Vein,
o Koninklijke Philips N.V.,
o Lumenis Ltd.,
o PhotoMedex, Inc.,
o Syneron Medical Ltd., and
o Thor Photomedicine Ltd.

Table Of Content

Chapter: 1 INTRODUCTION
1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools And Models

Chapter: 2 EXECUTIVE SUMMARY
2.1. CXO Perspective

Chapter: 3 MARKET OVERVIEW
3.1. Market Definition and Scope
3.2. Key findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Government regulations
3.3.1. U.S. FDA
3.3.2. Europe CE Mark
3.3.3. Ministry of Health, Labor, and Welfare (MHLW)
3.4. Reimbursement Scenarios
3.5. Patent Analysis
3.5.1. China Patent Analysis, By Market Participant
3.5.2. U.S. Patent Analysis, By Market Participant
3.6. Market Dynamics
3.6.1. Drivers
3.6.1.1. Rise in Vision Problems
3.6.1.2. Increased Awareness for Aesthetics
3.6.1.3. High Incidences of Skin Problems Such as Neonatal Jaundice, Acne, Psoriasis
3.6.1.4. Increase in Awareness About Photomedicine
3.6.2. Restrains
3.6.2.1. Product Safety Issues
3.6.2.2. Competition From Alternative Treatment Methods
3.6.3. Opportunities
3.6.3.1. Reducing the Risk Associated with Surgery
3.6.3.2. Novel Applications of Photomedicine
3.6.3.3. Tapping Medical Tourism in the Developing Regions

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