Global Photomedicine Market 2017-2021
Photomedicine is the study and treatment of diseases through exposure to light. Light energy can cause mechanical and chemical reactions and heating effects. The transmission of light energy through photon absorption leads to many different outcomes in photomedicine. Moreover, there are many new applications of light energy such as disease diagnosis and imaging. Human beings have evolved in an environment where they spend roughly half their lives exposed to light from the sun.
Technavio’s analysts forecast the global photomedicine market to grow at a CAGR of 7.15% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global photomedicine market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Photomedicine Market 2017-2021
Technavio recognizes the following companies as the key players in the global photomedicine market: Beurer, Koninklijke Philips, Lumie, and Verilux.
Other Prominent Vendors in the market are: Aura Daylight, Chromogenex, Compass Health Brands, Deka Laser Technologies, Demyk Lightmod Products, Ellipse, Erchonia, Lucimed, Nature Bright, Northern Light Technology, Photomedex, Red Light Man, Sphere Gadget Technologies, and Zepter International.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing adoption of advanced, laser-based treatments. Laser therapy has become one of the most common non-surgical medical procedures. Non-invasive laser procedures are used in various fields such as cosmetic surgery, dermatology, and other related surgeries. Non-surgical laser treatments cost a fraction of surgical procedures.”
According to the report, one driver in the market is growing demand for diagnostic laser products. Laser systems for diagnostic applications are the fastest growing segment globally. Lasers are extensively used in the diagnosis and treatment of several diseases. Their non-invasive technique compared with traditional procedures is an advantage. They are used in human tissues noninvasively where a beam could be transported by optic fibers. Light energy required is much lesser than in conventional light therapy products, and it does not alter the structure or function of the tissues investigated.
Further, the report states that one challenge in the market is lack of awareness about photomedicine. Photomedicine is an emerging branch of medicine used in various clinical and home-based treatment procedures in dermatology, neurology, pain and wound care, and orthopedics. With the per capita healthcare spending as high as $9,640 in Canada and $7,619 in the US, the market in these countries is ever expanding. The users of light therapy in these countries act as a reference group and create awareness about the products and related therapies among prospective users. The high disposable income, increased healthcare spending, and the availability of suitable healthcare facilities support the growth of the market.
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, Red Light Man, Sphere Gadget Technologies, and Zepter International.
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