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Photomedicine Devices & Technologies Market worth $902.89 million by 2030, growing at a CAGR of 6.63% - Exclusive Report by 360iResearch
Photomedicine Devices & Technologies Market | 360iResearch
The Global Photomedicine Devices & Technologies Market to grow from USD 576.04 million in 2023 to USD 902.89 million by 2030, at a CAGR of 6.63%.
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Photomedicine specializes in the therapeutic application of light and is also known as light medicine that administers light for medical and health purposes. It pertains to non-ionizing electromagnetic radiation ranging from 200 nm to 10,000 nm. In recent years, the application of photomedicine has increased significantly across various medical fields, such as dermatology, oncology, surgery, radiology, and diagnostics, further driving market growth. The growing ophthalmological concerns worldwide are attributed to the market growth due to the increased need for minimally invasive surgeries that are performed by using various photomedicine devices, including dichroic lamps, full spectrum light, laser, light-emitting diodes, and polychromatic polarized light that helps for faster recovery and painless procedures. In addition, rising awareness of aesthetics is leading to increased cosmetic surgeries, fueling the market's growth for the last couple of years. However, these surgeries involve expensive procedures and photomedicine devices, leading to high costs for the company and patients, further hindering the market growth for the past few years. Several companies are concentrating on R&D projects to develop innovative and cost-effective light medicine and advanced laser technology for rapid identification and treatment of various diseases, which is anticipated to generate substantial development opportunities for the market in the upcoming years.
The photomedicine devices & technologies market is evolving in the Americas owing to the well-established healthcare sector and the adoption of breakthrough imaging technologies to diagnose diseases. The growing popularity of cosmetic surgeries among the millennial population and youth is accelerating the deployment of photomedicine devices & technologies across the hospitals in the region. The rising prevalence of chronic diseases, rapid technological advancements, and government initiatives to promote digitalization in healthcare are accelerating the usage of efficient diagnostic technologies, including photomedicine devices & technologies in the APAC region. The EMEA region represents a growing photomedicine devices & technologies market owing to the increasing patient awareness about various treatments available for chronic diseases such as cancer and cardiovascular disorders, along with growing medical tourism activities to this region from other parts of the world. Additionally, the ongoing development and introduction of breakthrough photomedicine technologies to diagnose diseases early and to conduct dermatological treatments safely are expected to create immense opportunities for the growth of the photomedicine devices & technologies market worldwide.
Market Segmentation & Coverage:
This research report categorizes the Photomedicine Devices & Technologies Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Technologies, market is studied across Dichroic Lamps, Full Spectrum Light, Laser, Light Emitting Diodes, and Polychromatic Polarized Light. The Full Spectrum Light is projected to witness significant market share during forecast period.
Based on Devices, market is studied across Fluorescence-Guided Surgery, Immuno-photodynamic Therapy, Magnetic Resonance Imaging, Photobiomodulation, Photodynamic Therapy & Diagnosis, and Photoluminescence. The Immuno-photodynamic Therapy is projected to witness significant market share during forecast period.
Based on Application, market is studied across Dental Procedure, Dermatology, Neonatal Care, Neurology, Oncology, Ophthalmology, and Pain Management. The Dermatology is further studied across Hair Removal, Skin Resurfacing, and Tattoo Removal. The Oncology is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Photomedicine Devices & Technologies Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Photomedicine Devices & Technologies Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Photomedicine Devices & Technologies Market, highlighting leading vendors and their innovative profiles. These include Abbvie Inc., Aerolase Corporation, AngioDynamics, Inc., Aspen Laser, LLC, Bayer AG, biolitec AG, Candela Corporation, Cardinal Health, Inc., Colorado Skin and Vein, Cutera, Inc., Deleo Ltd., Fotona d.o.o., Galderma Laboratories, L.P., GE Healthcare, Hologic, Inc., Indus Health Plus (P) Ltd., Iridex Corporation, Johnson & Johnson Services, Inc., Koninklijke Philips N.V., Lumenis Ltd., Medline Industries, LP., Medtronic Corporation, Merz Pharmaceuticals GmbH, Photomedex, Sentient Lasers, Thermo Fisher Scientific Inc., THOR Photomedicine Ltd., and Toshiba Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Photomedicine Devices & Technologies Market, by Technologies
7. Photomedicine Devices & Technologies Market, by Devices
8. Photomedicine Devices & Technologies Market, by Application
9. Americas Photomedicine Devices & Technologies Market
10. Asia-Pacific Photomedicine Devices & Technologies Market
11. Europe, Middle East & Africa Photomedicine Devices & Technologies Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Photomedicine Devices & Technologies Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Photomedicine Devices & Technologies Market?
3. What is the competitive strategic window for opportunities in the Photomedicine Devices & Technologies Market?
4. What are the technology trends and regulatory frameworks in the Photomedicine Devices & Technologies Market?
5. What is the market share of the leading vendors in the Photomedicine Devices & Technologies Market?
6. What modes and strategic moves are considered suitable for entering the Photomedicine Devices & Technologies Market?
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