Photomedicine Devices and Technologies Market

Photomedicine Devices and Technologies Market size is
projected to witness significant growth from 2017 to
2024.: Global Market Insights Inc.
The Photomedicine Devices & Technologies Market Increasing emergence in advanced
body contouring devices along with rising demand for minimally invasive aesthetic
treatment are the factors driving global photomedicine devices and technologies market
growth. The associated advantages such as short hospital stay, painless treatment, costeffectiveness,
as well as fleeting time for recovery will encourage the patient
preferences for photomedicine devices.
The wide-ranging applications of photomedicine that include procedures conducted in
dental, pain management, dermatology, oncology, wound healing, and optical
diagnostics are determinants of boosting the photomedicine devices and technologies
market over the forecast period. Photomedicine comprises of revelation to
illuminations through definite wavelengths by means of lasers, this includes, light
emitting diodes, dichroic lamps, polarized polychromatic light, fluorescent lamps, and
full spectrum light. Technological advancement and increasing prevalence of skin
infections, dental disorders, and cancer will upsurge the business growth.
Rising cosmetic and minimally invasive cosmetic surgeries is a major factor propelling
industry growth. According to the American Society of Plastic Surgeons, in 2016,
approximately 15 million minimally invasive cosmetic procedures and 17 million
cosmetic procedures were performed. Such high acceptance and thereby adoption of
the procedures will fuel the business size. Excessive cost associated with development
and product safety are certain limiting factors for the photomedicine devices and
technologies market.
The dermatology segment accounted for major revenue share in 2016, attributable
towards the high number of aesthetic procedures conducted in different fields such as
hair removal, skin resurfacing, and tattoo removal. Furthermore, growing usage of the
radiofrequency and infrared to get rid of the undesirable fat deposits coupled with
advanced device offerings are factors stimulating the photomedicine devices and
technologies market progress over the forecast timeline.
Moreover, the photomedicine devices have several applications in different fields along
with associated benefits that drives the patient preference rates and enlarges the
industry size. For instance, in dentistry the photomedicine devices are used for
strengthening bond between the filling and tooth, and as a tool for tissue cutting.
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Browse key industry insights from the report “Photomedicine Devices and Technologies
Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France,
Italy, UK, Spain, Russia, China, India, Japan, South Korea, Australia, New Zealand,
Singapore, Argentina, Brazil, Mexico, South Africa, Saudi Arabia), Application
Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 –
2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/photomedicine-devices-andtechnologies-market
The laser technology will witness highest growth rate owing to wide-ranging
applications in various fields like, immunology, cancer, cardiovascular, and arthritis.
The laser light shows effective pain management as well as wound healing thereby,
convincing doctors to consider laser light instead of staples, adhesives, and sutures that
are painful and causes inflammation. In addition, companies providing various devices
for laser therapy that can effectively aid in treatment of oncology, pain, dental, equine,
and veterinary will foster the business growth over the coming years.
U.S. accounted for major photomedicine devices and technologies market in 2016, due
to higher dispersion of the laser therapeutic aiding in medication of several diseases
prevailing in the U.S. coupled with supporting investments provided by the private and
public organizations for research and development. For instance, the Wellman Center of
Photomedicine’s research agendas are established on extramural funding. In 2014, it
generated around USD 25 million extramural funding that aids to support ongoing
research activities. Federal sources such as Department Of Defense (DoD), National
Sanitation Foundation (NSF), and National Institutes of Health (NIH) are supported by
funding up to 52%.
China and India will grow lucratively owing to, rising healthcare expenditure levels
along with ongoing research activities performed. Existence of high untapped
opportunities and major industry players keen to expand business in emerging nations
are boosting the photomedicine devices and technologies market growth.
Some of the business players are THOR Photomedicine, Colorado Skin & Vein, Iridex,
Syneron Medical, AngioDynamics, qbmi Photomedicine, Abbott Laboratories, Lumenis,
Koninklijke Philips N.V., and Biolitec. The business players concentrate on strategic
mergers, acquisitions, and partnership for their growth. For instance, in February 2017,
Iridex launched new FDA cleared probe during the annual American Glaucoma Society
meeting. The Cyclo G6 Glaucoma laser system provides treatment through
transillumination.
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