Photomedicine Market

Photomedicine Market to Witness Double Digit CAGR by 2024

Global Photomedicine Market: Overview

In photomedicine, diagnosis and treatment of diseases and other complications related to health are carried out by using light and photobiology. The treatment is carried out on the individual by exposing them to light with precise wavelengths using lasers, fluorescent lamps, and other such devices. It also includes the molecular and cellular mechanisms of physiology, chemistry, pathology, and pharmacology as they apply to photobiology. Using photomedicine, the diseases can be detected and treated in an efficient manner.
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Global Photomedicine Market: Segmentation

The global photomedicine market has been segmented into its technology, applications, and geography. On the basis of technology, the photomedicine market is divided into light emitting diodes, dichroic lamps, full-spectrum light, polychromatic polarized light, lasers, and fluorescent lamps. Based on applications, the market is segregated into oncology, dentistry, dermatology, surgical procedures, ophthalmology, and others. On the basis of geography, the market is diversified into Latin America, North America, Asia-Pacific, Europe, and the Middle East and Africa.

Global Photomedicine Market: Growth Factors

The photomedicine market is a growing market owing to factors such as increasing adoption of procedures which are minimally invasive, advancements made in medical aesthetic technologies and increased funding available for research and development of products. Other factors such as healthcare reforms and the emergence of personalized medicine have been influencing the growth of the market. There has been an increasing emphasis on producing new and innovative products. This has caused an upsurge of demand in the photomedicine market. Photomedicine has found its application in the treatment and diagnosis of cancer, heart diseases, and several infections. This new treatment option of photomedicine has outpaced the traditional method of detecting and diagnosing a disease. Owing to the better efficiency of the photomedicine, the demand for them has been rising significantly across the globe.

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Global Photomedicine Market: Regional Analysis

Geographically, the photomedicine market is divided into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa of which the largest share of the market is held by North America. Factors facilitating the growth in this region include increasing adoption of photomedicine in the use of diagnosis and treatment, a higher rate of grants received, and research was undertaken to explore this area of medicine. Following North America, Asia Pacific is also emerging in the photomedicine market owing to factors such as strong presence for foreign tourism and developing economies in this region. China, Japan, and India are some of the countries having immense growth opportunities in the Asia-Pacific region. Regions such as Europe, Latin America, and the Middle East and Africa are also providing a fair share to the market growth.

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Global Photomedicine Market: Competitive Players

Some of the major players in photomedicine market are PhotoMedex Inc., Lumenis Ltd., Asclepion Laser Technologies GmbH., THOR Photomedicine Ltd., QBMI Photomedicine, Alma Lasers, Syneron Medical Ltd., IRIDEX Corporation, Spectranetics, and AngioDynamics.

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