Key Factors Contributing Towards Growth of the Photomedicine Market During 2017 – 2027

Photomedicine is an interdisciplinary branch of medicine that involves the treatment and diagnosis of diseases and other complications related to health by using photobiology and light. Photomedicine treatment is done by exposing the individual to light with specific wavelengths using lasers, fluorescent lamps, full-spectrum light, polychromatic polarized light, light-emitting diodes and dichroic lamps. Moreover, photomedicine also includes the cellular and molecular mechanisms of pharmacology, chemistry, physiology and pathology as they apply to photobiology. Photomedicine has found its application in the diagnosis and treatment of heart diseases, cancer and several infections. This new treatment option of photomedicine helps better visualization and has outpaced the traditional method of diagnosing and detecting a disease.

A geographic condition regarding orthopedic trauma device market, it has been segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific and the Middle East & Africa. North America is the leading region in the photomedicine market owing to the presence of major market player. Moreover, as compared to other regions the adoption of photomedicine in the use of treatment and diagnosis is higher. This is due to the higher rate of research undertakings and the grants received to explore this area of medicine. Asia Pacific is also emerging region due to the developing economies. Moreover as it has a strong presence for foreign tourism, there has been a growing adoption of photomedicine. For instance, Lumenis Ltd. who manufactures energy-based devices for ophthalmology, surgical and aesthetic application supported a mission to treat burn injuries in Armenia. Through its Lumenis UltraPulse to treat children with burn injuries. The company’s 2015 mission included the establishment of medical laser center in Arabkir Pediatric Hospitals.

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The market for photomedicine is expected to boom as there is more adoption of minimally invasive procedures, advances in medical aesthetic technologies, more augmented research funding for photomedicine, and the development of compact, versatile and multifunctional photomedicine devices. Researches in the field of photomedicine to explore newer application is bringing in more investments. Researchers from the Massachusetts General Hospital proved that by using low-level laser therapy there was enhanced platelet production in animals with thrombocytopenia as compared to normal control. Thrombocytopenia is caused due to side-effects of certain drugs, leukemia, and drugs used for chemotherapy. Platelet transfusion is the established treatment for this but only used in severe cases since its risks complications include immunosuppression, allergic reaction and infection

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The photomedicine market is expected to upsurge in the coming years owing to the number of new product approvals. Moreover, the photomedicine market is also experiencing consolidation with companies acquiring other market players. Syneron Medical Ltd. acquired New Star Lasers, Inc. to leverage on its CoolTouch family of aesthetic devices.

Lumenis Ltd., PhotoMedex, Inc., THOR Photomedicine Ltd, Asclepion Laser Technologies GmbH, Alma Lasers, QBMI Photomedicine, IRIDEX Corporation, Syneron Medical Ltd., AngioDynamics and Spectranetics.

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