Photomedicine involves the application of light to treat medical and aesthetic conditions. It provides painless and minimally invasive treatment for various skin diseases and disorders including psoriasis, acne, warts, aging skin, and skin cancer. The global photomedicine market offers painless and effective treatment options with advantages such as reduced side effects, quick healing time, and minimum downtime.
The global photomedicine Market is estimated to be valued at US$ 3.6 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The emerging applications of photomedicine are expected to drive the market growth over the forecast period. The new therapeutic applications including photodynamic therapy (PDT) for cancer treatment, low-level light therapy (LLLT) for wound healing, hair removal, and treatment of musculoskeletal conditions are gaining widespread acceptance. PDT utilizes light-activated photosensitizing drugs to treat various cancers including head and neck, lung, and skin cancer. Similarly, LLLT employs low power lasers to accelerate tissue repair and reduce inflammation. The continuous research activities to expand the therapeutic scope of photomedicine into new areas such as neurological and cardiovascular disorders are expected to bring novel treatment opportunities and boost the market growth.
Segment Analysis
The Global Photomedicine Market Scope is dominated by the aesthetics and rejuvenation sub segment. This sub segment accounts for over 35% of the overall market share owing to the growing acceptance of non-invasive aesthetic procedures among the general population globally. Procedures like photorejuvenation, hair removal and tattoo removal are highly preferred by people looking for aesthetic improvement without undergoing surgeries.
Key Takeaways
The global photomedicine market is expected to witness high growth over the forecast period of 2023 to 2030. Technological advancements in photomedicine devices and rising medical applications of light-based therapies are some of the major factors driving the market. The global photomedicine Market is estimated to be valued at US$ 3.6 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
Regional analysis
North America currently dominates the global photomedicine market holding over 40% share. Rising healthcare expenditure and high adoption of advanced medical technologies in the US and Canada contribute to the leading position of the region. Asia Pacific is expected to grow at the fastest pace during the forecast period. Increasing medical tourism industry and growing medical infrastructure in developing countries like India and China offer lucrative opportunities for players in the regional photomedicine market.
Key players
Key players operating in the photomedicine market are Bombay Spirits Company LTD, Diageo plc, William Grant & Sons Ltd, Charles Tanqueray & Co., Vantguard, Jaisalmer Indian Craft Gin, Nao Spirits & Beverages Pvt Ltd, Radico Khaitan Limited, Pernod Ricard, and Beam Suntory, Inc. Diageo plc and Pernod Ricard dominate the global spirits industry with their wide brand portfolio and strong geographic presence across countries. Smaller players like Vantguard and Jaisalmer Indian Craft Gin are also expanding their operations to cash in on the growing demand for premium and craft spirits.
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The research report on the global Photomedicine market provides a comprehensive outlook of the equipment and technological devices employed in the manufacturing of the Photomedicine market products.
From industry chain analysis to cost structure analysis, the report examines various factors of the industry, including production and end-use segments of the Photomedicine market.
The inferences drawn in this study are valuable for any company operating in the industry.
Every organization contributing to the global production of the Photomedicine market products has been profiled in this report, in order to study the insights on cost-effective manufacturing methods, competitive landscape, and new avenues for applications.For the purpose of this report, Reports and Data has segmented the Photomedicine market on the basis of device type, application, type of therapy, and region:Device Type (Revenue, USD Million; 2016–2026)LasersPolychromatic Polarized LightFull spectrum lightsLamps:FluorescentDichroicApplication (Revenue, USD Million; 2016–2026)OncologyDentalPainDermatologyOphthalmologyType of Therapy (Revenue in USD Million; 2016-2026)HeliotherapyLaser therapyPhotodynamic therapyRegional Outlook (Revenue in USD Million; 2016–2026)North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, Colombia)Do you have questions about the Report or want to inquire about a Discount?
Ask our Expert: https://www.reportsanddata.com/discount-enquiry-form/1534The varying scenarios across the global market have been examined in this study, providing an overview of how the Photomedicine products have established their place in this rapidly-evolving sector.
Additionally, key manufacturers have been profiled comprehensively in this research report.With the existing market standards evaluated, this research report also explains the latest strategic initiatives and patterns of the market players in an unbiased way.
Global Photomedicine Market Forecast to 2026 encompasses crucial data about the global Photomedicine market and includes a thorough examination of technological development, market drivers, market share, market size, and regional segmentation.
The report also provides a comprehensive evaluation of the market trends, vital statistical data, accurate market estimations, and the key suppliers and manufacturers of the Photomedicine market.The report is also attuned with the currently ongoing COVID-19 pandemic and its effect on the key segments of the market.
The pandemic resulted in an economic slowdown and has directly affected the business sector by impacting the supply chains and availability of raw materials.
It also offers strategic recommendations to the key players of the market to assist them in overcoming the negative impacts of the pandemic.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1534The report provides a complete analysis of the global Photomedicine market with important details about the key market players from insightful primary and secondary research data.
Furthermore, it also covers SWOT analysis and Porter’s Five Forces Analysis to offer a deeper insight into the competitive landscape of the market.Device Type (Revenue, USD Million; 2016–2026)LasersPolychromatic Polarized LightFull spectrum lightsLamps:FluorescentDichroicApplication (Revenue, USD Million; 2016–2026)OncologyDentalPainDermatologyOphthalmologyType of Therapy (Revenue in USD Million; 2016-2026)HeliotherapyLaser therapyPhotodynamic therapyBrowse Complete Report “Photomedicine Market” @ @ https://www.reportsanddata.com/report-detail/photomedicine-marketThe report further segments the market on the basis of key regions of the world and offers an assessment of the production and manufacturing capacity, import and export, production and consumption patterns, supply and demand ratio, and the presence of key players in each region.
In-depth regional analysis covers: North AmericaU.S.CanadaMexicoEuropeGermanyU.K.FranceBENELUXRest of EuropeAsia PacificChinaJapanSouth KoreaRest of APACLatin AmericaBrazilRest of LATAMMiddle East & AfricaSaudi ArabiaA.E.Rest of MEAThe report includes primary and subjective research with a comprehensive study examined and validated by industry professionals and experts.
