Photomedicine Devices And Technologies Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : May 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Photomedicine Devices And Technologies market size is expected to be worth around US$ 414.9 million by 2030, according to a new report by Vision Research Reports.

The global Photomedicine Devices And Technologies market size was valued at US$ 314.9  Million in 2020 and is anticipated to grow at a CAGR of 14.6% during forecast period 2021 to 2030.

Growth Factors

 Growing demand for minimally invasive aesthetic procedures is a key contributing factor toward the flourishing market growth. Rising concern amongst the youth regarding their physical and aesthetic appearance is a crucial factor responsible for this growth.

Moreover, benefits associated with the use of laser surgery, such as less recovery time, painless procedure, cost efficiency, and shorter length of hospital stay, are the factors expected to fuel the demand for minimally invasive aesthetic surgeries over the forecast period.

According to the report published by the American society of plastic surgeons, the total number of minimally invasive cosmetic procedures was 13,945,388 in 2014 and is expected to grow by 4% every year. Whereas, the number of procedures in the UK was 50,122 in 2013, which represents a growth of 17% as compared to the previous year. This represents the emergence of the laser-based cosmetic procedures, which in turn is expected to continue boosting the demand for photomedicine devices in the coming years.

In addition, higher adoption of laser surgery in vision correction, body contouring, and in cancer treatment are anticipated to drive the sector growth over the forecast period.

Report Highlights

Laser technology dominated the overall market as of 2020, owing to a wide application in molecular photomedicine. Laser is used in the treatment of a variety of diseases such as cancer, immunology, arthritis, cardiovascular, etc.

In addition, laser technology is expected to gain popularity for the treatment of diabetic macular edema to reduce the treatment burden of Intravitreal pharmacotherapy. Adoption of minimal dosing strategies such as computer assisted navigated laser or micropulsing are on a rise due to their proven efficiency in reducing damaging photo thermal effects.

Moreover, introduction of advanced laser medicine in dermatologic applications are expected to boost the usage rate of laser-based therapies in the coming years. For example, THOR Photomedicine Ltd. introduced the low level laser therapy used in tissue repairing, inflammation reduction, and pain management.

Dermatology segment held the largest market share of over 20% as of 2020, due to the large volume of aesthetic procedures performed in laser skin resurfacing, tattoo removal, and hair removal. Moreover, the introduction of new generation body contouring devices, increasing usage of infrared & radiofrequency to remove unwanted fat layers is further augmenting the market growth over the forecast period.

The associated benefits of laser use include painless procedures, safety, and ease of use which are contributing to the sector growth. Furthermore, the increasing dermatologic applications of light therapy, such as laser or LED, in tattoo removal procedures and skin rejuvenation surgeries is anticipated to provide this segment with a lucrative growth platform.

Photomedicine devices find numerous applications in dentistry. It is used as a tissue cutting instrument in cavity preparation or in surgeries and to strengthen the bond between tooth & filling. Increasing incidence of dental disorders is anticipated to fuel the demand for lasers, which is expected to aid the emergence of photomedicine devices over the forecast period.

As per the WHO statistics published in 2020, nearly 100% of the adult population and around 60% to 90% of school going children, respectively, were reported to be afflicted with dental cavities. Furthermore, the incidence of oral cancer ranged from 1to 10 cases per 100,000 people in most countries, which is expected to serve as a potential growth factor for the dental lasers segment.

North America held the largest revenue share in 2020 at over 49.0% owing to favorable reimbursement policies, higher awareness levels, and greater penetration of laser therapeutics in the treatment of various diseases observed in this region. Furthermore, increasing funding from public & private organization for R&D pertaining to the development of advanced photomedicine devices to be applied in the diagnosis of various diseases is anticipated to boost the sector growth in the near future. For example, Wellman Center of Photomedicine generated a funding of over USD 25.0 Million from extramural sources in 2014 for ongoing research activities.

Asia Pacific is expected to show lucrative growth, by registering a CAGR of over 6.0% in the future. The presence of high untapped opportunities, increasing healthcare expenditure levels, and supportive government initiatives promoting new product development are the factors contributing toward the regional growth.

Key Players

Colorado Skin & Vein, Lumenis, THOR Photomedicine Ltd., and Alma Lasers Ltd., QBMI Photomedicine, AngioDynamics, PhotoMedex, Inc., IRIDEX Corporation, Spectranetics, and Syneron Medical Ltd.

Market Segmentation

Global Photomedicine Devices Application Outlook 

  • Dermatology

    • Tattoo removal

    • Hair removal

    • Skin resurfacing

  • Wound Healing

  • Pain Management

  • Oncology

  • Optical Diagnostics

  • Dental Procedures

  • Others

Global Photomedicine Devices Technology Outlook

  • Laser

  • Polychromatic Polarized Light

  • Full Spectrum Light

  • Dichroic Lamps

  • Light emitting diodes

Photomedicine Devices Market Regional Outlook 

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa

    • South Africa

The Photomedicine Devices And Technologies market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Photomedicine Devices And Technologies market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Photomedicine Devices And Technologies market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Photomedicine Devices And Technologies market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Photomedicine Devices And Technologies market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Photomedicine Devices And Technologies capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Photomedicine Devices And Technologies by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Photomedicine Devices And Technologies market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Photomedicine Devices And Technologies market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Photomedicine Devices And Technologies market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Photomedicine Devices And Technologies industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Photomedicine Devices And Technologies market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Photomedicine Devices And Technologies market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Photomedicine Devices And Technologies market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Photomedicine Devices And Technologies market. These factors have benefited the growth of the global market for Photomedicine Devices And Technologies. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Photomedicine Devices And Technologies. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Photomedicine Devices And Technologies are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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