Photomedicine Market Received Rapid Boost In Global Industry: North America will the Maximum Contribution In Industry Segment

Photomedicine Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

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.

Summary of the Photomedicine Market can be accessed on the website at: https://www.alliedmarketresearch.com/photomedicine-market

The major companies profiled in the report provide extensive competitive analysis and profiles of key market players including Abbott Laboratories, Alma Lasers Ltd., Angiodynamics, Inc., Biolitec AG, Colorado Skin and Vein, Koninklijke Philips N.V., Lumenis Ltd., PhotoMedex, Inc., Syneron Medical Ltd., and Thor Photomedicine Ltd.

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.

According to Onkar Sumant, Research Analyst, Healthcare at Allied Market Research, "Lasers segment is anticipated to dominate the market with maximum share. Lasers are used for the treatment of various skin and eye diseases. Furthermore, laser technology is used for various aesthetic purposes such as body contouring. It can also be used for therapeutic purposes related to various fields such as oncology and pain management."

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, owing to growing adoption of minimally invasive aesthetic technology and increasing awareness of physical appearance.

North America had the maximum contribution in the photomedicine segment accounting for 36% of the share in the total revenue generated that year. High buying power of the customers, favorable reimbursement policies, and increase in number of cosmetic surgeries in the U.S. largely contribute toward the growth of this region. Asia-Pacific region observes fast paced growth in the photomedicine market registering a CAGR of 11.4%. Rise in disposable income, increase in healthcare expenditure and high potential for cost-savings on aesthetic procedures in Asian countries such as Singapore and Malaysia as compared to U.S. are the main reason for the growth of photomedicine market in the Asia-Pacific region.

Key findings of the study
• Light emitting diodes segment is projected to be the fastest growing segment during the analysis period.
• Laser technology generated the highest revenue and is expected to continue its dominance throughout the forecast period.
• North America dominated global animal therapeutics and diagnostics market and projected to grow at a CAGR of 9.9%.
• Opthalmology segment occupied nearly one-third of the total market.

Read similar market research reports on Diagnostics and Biotech at: https://www.alliedmarketresearch.com/life-sciences/diagnostic-and-biotech-market-report

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