Market Overview:
The global photomedicine market is expected to grow at a CAGR of 9.5% from 2018 to 2030. The growth in the market can be attributed to the increasing prevalence of skin diseases, tumor diseases, and other medical conditions that can be treated with photomedicine. In addition, the growing demand for home-use and commercial-use photomedicine devices is also contributing to the growth of this market. The global photomedicine market by type is segmented into skin disease and tumor disease. The skin disease segment is further divided into psoriasis, acne vulgaris, vitiligo, atopic dermatitis (eczema), rosacea, photoaging (wrinkles), and others (including ichthyosis vulgaris). The tumor disease segment includes cancerous tumors and noncancerous tumors. The global photomedicine market by application is divided into healthcare applications, domestic users applications, and commercial users applications. Healthcare applications include hospitals & clinics; research institutes; diagnostic centers; beauty & wellness centers; home care settings; military & defense establishments; correctional facilities/prison systems etc., Domestic users include end-users such as individual consumers or families etc.
Product Definition:
Photomedicine is the application of light to medicine. It is used to diagnose and treat medical conditions.
Skin Disease:
The global skin disease market size was valued at USD 1.5 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period. The increasing prevalence of skin diseases, rising awareness among people for early diagnosis, and growing demand for effective treatment options are some major factors that drive the growth of this market globally.
Tumor Disease:
Tumor disease is a medical condition in which there are abnormal cell growths or masses forming within the body. These can be benign (non-cancerous) or malignant (cancerous). Benign tumors may grow and spread slowly, while malignant tumors can invade surrounding tissues and organs. Most types of tumor diseases are chronic in nature; that is, they remain for a lifetime.
Application Insights:
Healthcare was the dominant application segment in the global photomedicine market and accounted for a revenue share of around 60.0% in 2017. The growth of this segment can be attributed to increasing demand for minimally invasive surgeries, rising geriatric population base, and growing incidences of cancer across the globe.
Photodynamic therapy (PDT) is one such emerging technology that is gaining popularity as an effective treatment modality for skin diseases including acne vulgaris and psoriasis. PDT involves use of photosensitizer along with light-emitting diode (LED), which causes damage to cells if they are exposed to sunlight after being treated with Photofrinilium Compound or Tretinamide derivative Photosensitizing agent (PS). Thus, it has emerged as an effective alternative treatment option for several skin disorders that were previously treated using surgery or medication only.
Regional Analysis:
North America dominated the global market in 2017 owing to the presence of a large number of key players and well-established healthcare infrastructure. The region is expected to maintain its dominance over the forecast period due to increasing R&D investments by companies as well as government for developing innovative products. Asia Pacific is projected to grow at a lucrative rate during the forecast period, which can be attributed to rising disposable income levels, improving healthcare facilities & systems, and growing awareness about photomedicine applications among patients & physicians. In addition, supportive government policies are anticipated t o boost regional growth over the next eight years.
Growth Factors:
- Increasing demand for minimally invasive surgeries: The global market for minimally invasive surgeries is expected to grow at a CAGR of 6.5% from 2016 to 2021. This is primarily due to the advantages offered by these surgeries over traditional open surgery, such as shorter hospital stays, reduced pain and blood loss, and faster recovery times. Photomedicine technologies are finding increasing use in minimally invasive surgeries as they offer several advantages over traditional surgical methods such as scalpel incisions and lasers. For instance, laser-based photomedicine technologies can be used to seal blood vessels during surgery, which reduces the risk of bleeding and postoperative complications.
- Growing prevalence of chronic diseases: The global prevalence of chronic diseases is rising rapidly due to changing lifestyles and aging populations. According to the World Health Organization (WHO), chronic diseases account for 60%–70% of all deaths worldwide each year. This presents a major challenge for healthcare systems around the world as they struggle to provide adequate treatment for an ever-growing population suffering from chronic conditions such as cancer, diabetes, heart disease, and arthritis etcetera . Photomedicine offers a potential solution to this problem by providing an effective way of treating these conditions without resorting to expensive or risky procedures such as surgery or radiation therapy .
Scope Of The Report
Report Attributes
Report Details
Report Title
Photomedicine Market Research Report
By Type
Skin Disease, Tumor Disease
By Application
Healthcare, Domestic Users, Commercial Users
By Companies
Beurer, Koninklijke Philips, Lumie, Verilux, Aura Daylight, Chromogenex, Compass Health Brands, Deka Laser Technologies, Demyk Lightmod Products, Ellipse, Erchonia, Lucimed, Nature Bright, Northern Light Technology, Photomedex
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global Photomedicine Market Report Segments:
The global Photomedicine market is segmented on the basis of:
Types
Skin Disease, Tumor Disease
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Healthcare, Domestic Users, Commercial Users
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Beurer
- Koninklijke Philips
- Lumie
- Verilux
- Aura Daylight
- Chromogenex
- Compass Health Brands
- Deka Laser Technologies
- Demyk Lightmod Products
- Ellipse
- Erchonia
- Lucimed
- Nature Bright
- Northern Light Technology
- Photomedex
Highlights of The Photomedicine Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Skin Disease
- Tumor Disease
- By Application:
- Healthcare
- Domestic Users
- Commercial Users
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Photomedicine Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Photomedicine is the use of light to treat medical conditions. This can include using light to help heal wounds, correct vision problems, and manage pain.
Some of the key players operating in the photomedicine market are Beurer, Koninklijke Philips, Lumie, Verilux, Aura Daylight, Chromogenex, Compass Health Brands, Deka Laser Technologies, Demyk Lightmod Products, Ellipse, Erchonia, Lucimed, Nature Bright, Northern Light Technology, Photomedex.
The photomedicine market is expected to register a CAGR of 9.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Photomedicine Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Photomedicine Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Photomedicine Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Photomedicine Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Photomedicine Market Size & Forecast, 2018-2028
4.5.1 Photomedicine Market Size and Y-o-Y Growth
4.5.2 Photomedicine Market Absolute $ Opportunity
Chapter 5 Global Photomedicine Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Photomedicine Market Size Forecast by Type
5.2.1 Skin Disease
5.2.2 Tumor Disease
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Photomedicine Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Photomedicine Market Size Forecast by Applications
6.2.1 Healthcare
6.2.2 Domestic Users
6.2.3 Commercial Users
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Photomedicine Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Photomedicine Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Photomedicine Analysis and Forecast
9.1 Introduction
9.2 North America Photomedicine Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Photomedicine Market Size Forecast by Type
9.6.1 Skin Disease
9.6.2 Tumor Disease
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Photomedicine Market Size Forecast by Applications
9.10.1 Healthcare
9.10.2 Domestic Users
9.10.3 Commercial Users
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Photomedicine Analysis and Forecast
10.1 Introduction
10.2 Europe Photomedicine Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Photomedicine Market Size Forecast by Type
10.6.1 Skin Disease
10.6.2 Tumor Disease
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Photomedicine Market Size Forecast by Applications
10.10.1 Healthcare
10.10.2 Domestic Users
10.10.3 Commercial Users
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Photomedicine Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Photomedicine Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Photomedicine Market Size Forecast by Type
11.6.1 Skin Disease
11.6.2 Tumor Disease
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Photomedicine Market Size Forecast by Applications
11.10.1 Healthcare
11.10.2 Domestic Users
11.10.3 Commercial Users
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Photomedicine Analysis and Forecast
12.1 Introduction
12.2 Latin America Photomedicine Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Photomedicine Market Size Forecast by Type
12.6.1 Skin Disease
12.6.2 Tumor Disease
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Photomedicine Market Size Forecast by Applications
12.10.1 Healthcare
12.10.2 Domestic Users
12.10.3 Commercial Users
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Photomedicine Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Photomedicine Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Photomedicine Market Size Forecast by Type
13.6.1 Skin Disease
13.6.2 Tumor Disease
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Photomedicine Market Size Forecast by Applications
13.10.1 Healthcare
13.10.2 Domestic Users
13.10.3 Commercial Users
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Photomedicine Market: Competitive Dashboard
14.2 Global Photomedicine Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Beurer
14.3.2 Koninklijke Philips
14.3.3 Lumie
14.3.4 Verilux
14.3.5 Aura Daylight
14.3.6 Chromogenex
14.3.7 Compass Health Brands
14.3.8 Deka Laser Technologies
14.3.9 Demyk Lightmod Products
14.3.10 Ellipse
14.3.11 Erchonia
14.3.12 Lucimed
14.3.13 Nature Bright
14.3.14 Northern Light Technology
14.3.15 Photomedex
