Photomedicine Devices and Technologies Market Key Players and Opportunities by 2028

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2028

Photomedicine Devices and Technologies Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Photodynamic Therapy (PDT), Immuno-PDT (Photoimmune Therapies), Fluorescence-Guided Surgery, Photodynamic Diagnosis, Lasers, Others); Application (Dermatology, Oncology, Tattoo Removal, Hair Removal, Optical Diagnostics, Wound Healing, Skin Resurfacing, Neurology, Gastroenterology, Others)

Report Date : Nov 2021
Report Code : TIPMD00002381

Category : Life Sciences
Status : Published

Available Report Formats :
No. of Pages : 180

Also Available in :

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Page Updated: Jun 2024

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The photomedicine devices and technologies market is projected to reach US$ 712.91 million by 2028 from US$ 497.40 million in 2021; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.

Photomedicine is a discipline of medicine that uses photobiology and light to cure diseases and other medical conditions. Lasers, full-spectrum light, dichroic lamps, polychromatic polarized light, light-emitting diodes, and fluorescent lamps are used in this treatment to expose people to specific wavelengths of light. Photomedicine is a new therapy option for a variety of disorders that has outperformed the old technique of diagnosing and detecting a condition. Factors such as a wider applicability of photomedicine and rise in demand for minimally invasive and noninvasive therapies are boosting the photomedicine devices and technologies market growth. However, the stringent regulatory framework for photomedicine technologies hampers the growth of the market.

Market Insights

Rise in Demand for Minimally Invasive and Noninvasive Therapies Boosts Photomedicine Devices and Technologies Market Growth

The popularity of minimally invasive medical procedures has increased in recent years, owing to the involvement of tiny incisions, faster recovery of patients, and less discomfort caused to the patients. Moreover, photomedicine procedures offer benefits such as less pain; less trauma to muscles, nerves, tissues, and organs; less bleeding and scarring; and minimal injuries to tissues. According to the American Society of Plastic Surgeons, in 2020, over 15.6 million minimally invasive cosmetic procedures were performed in the US. A total of 13,281,235 minimally invasive cosmetic procedures were performed in 2020. In the top 5 cosmetic minimally invasive procedures, intense pulsed light (IPL) treatment has replaced laser hair removal treatment by recording over 827,000 IPL procedures performed in 2020. According to a global report published by the International Society of Aesthetic Plastic Surgery (ISAPS), the number of aesthetic and cosmetic procedures performed worldwide increased to 23,266,374 in 2018 from 20,236,901 in 2014.

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Photomedicine Devices and Technologies Market: Strategic Insights

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Technology Based Insights

Based on technology, the photomedicine devices and technologies market is segmented into Photodynamic Therapy (PDT), Immuno-PDT (Photoimmune Therapies), Fluorescence-Guided Surgery, Photodynamic Diagnosis, Photobiomodulation (Lasers Lights), and Other Technologies. The photodynamic therapy segment held the largest share of the market in 2021, and it is expected to register the highest CAGR during the forecast period.

Application -Based Insights

Based on Application, the photomedicine devices and technologies market is segmented into Aesthetics and Dermatology, Oncology, Ophthalmology, Neurology, Pain Management, Wound Healing, and Other Applications. The market for the Aesthetics and Dermatology segment is further segmented into hair removal, tattoo removal, skin resurfacing, and other applications. The aesthetics and dermatology segment held the largest market share in 2021, and the same segment is expected to register the highest CAGR in the market during the forecast period.

Various companies operating in the photomedicine devices and technologies market are adopting strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain brand name, and meet the growing demand from end users.

Photomedicine Devices & Technologies

Photomedicine Devices and Technologies Market Regional Insights

The regional trends and factors influencing the Photomedicine Devices and Technologies Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Photomedicine Devices and Technologies Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Photomedicine Devices and Technologies Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 497.40 Million
Market Size by 2028	US$ 712.91 Million
Global CAGR (2021 - 2028)	5.3%
Historical Data	2019-2020
Forecast period	2022-2028
Segments Covered	By Technology Photodynamic Therapy Immuno-PDT Fluorescence-Guided Surgery Photodynamic Diagnosis Lasers By Application Dermatology Oncology Tattoo Removal Hair Removal Optical Diagnostics Wound Healing Skin Resurfacing Neurology Gastroenterology
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Alma Lasers Beurer GmbH Biolitec AG Lumenis Quantel Medical THOR Photomedicine Ltd Verilux Inc Candela Medical KONINKLIJKE PHILIPS N.V

Photomedicine Devices and Technologies Market Players Density: Understanding Its Impact on Business Dynamics

The Photomedicine Devices and Technologies Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

photomedicine-devices-and-technologies-market-cagr

Get the Photomedicine Devices and Technologies Market top key players overview

Photomedicine Devices and Technologies Market – by Technology

Photodynamic Therapy (PDT)
Immuno-PDT (Photoimmune Therapies)
Fluorescence-Guided Surgery
Photodynamic Diagnosis
Photobiomodulation (Lasers Lights)
Other Technologies

Photomedicine Devices and Technologies Market – by Application

Aesthetics and Dermatology
- Hair Removal
- Tattoo Removal
- Skin Resurfacing
- Other Applications
- Oncology
Ophthalmology
Neurology
Pain Management
Wound Healing
Other Applications

Photomedicine Devices and Technologies Market – by Geography

North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
South America (SAM)
- Brazil
- Argentina
- Rest of South and Central America

Company Profiles

Alma Lasers
Beurer GmbH
Biolitec AG
Lumenis
Quantel Medical
THOR Photomedicine Ltd
Verilux Inc
Candela Medical
KONINKLIJKE PHILIPS N.V
Iridex Corporation

Frequently Asked Questions

What is the regional market scenario of photomedicine devices and diagnostics?

Global photomedicine devices and technologies market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. In North America, the U.S. is the largest market for photomedicine devices and technologies. The US is estimated to hold the largest share in the photomedicine devices and technologies market during the forecast period. Whereas, Asia Pacific is the fastest growing region during the forecast period with highest CAGR rate of 6.1%. The growth of Asia Pacific photomedicine devices and technologies market is owing to, increasing burden of chronic diseases such as cancer, rise in demand for minimally invasive surgical procedures and growing adoption of photomedicine.

Who are the key players in the photomedicine devices and technologies market?

The photomedicine devices and technologies market majorly consists of the players such as Alma Lasers, Beurer GmbH., Biolitec AG, Lumenis, Quantel Medical, THOR Photomedicine Ltd, Verilux Inc, Candela Medical, KONINKLIJKE PHILIPS N.V., and Iridex Corporation, among others

Which technology led the photomedicine devices and technologies market?

The photodynamic therapy segment dominated the global photomedicine devices and technologies market and held the largest revenue share of 24.82% in 2021.

Which application held the largest share in the photomedicine devices and technologies market?

The aesthetics and dermatology segment dominated the global photomedicine devices and technologies market and accounted for the largest revenue share of 27.72% in 2021.

What is Photomedicine?

Photomedicine is a discipline of medicine that uses photobiology and light to cure diseases and other medical conditions. Photomedicine is the use of lasers, full-spectrum light, dichroic lamps, polychromatic polarized light, light-emitting diodes, and fluorescent lamps to expose people to specific wavelengths of light. Photomedicine is a new therapy option for a variety of disorders that has outperformed the old technique of diagnosing and detecting a condition.

What are the driving factors for the photomedicine devices and technologies market across the globe?

Key factors that are driving the growth of this market are wider applicability of photomedicine and rise in demand for minimally invasive and non-invasive therapies.

Research Manager

Mrinal Kerhalkar

Manager,
Market Research & Consulting

Mrinal is a seasoned research analyst with over 8 years of experience in Life Sciences Market Intelligence and Consulting. With a strategic mindset and unwavering commitment to excellence, she has built deep expertise in pharmaceutical forecasting, market opportunity assessment, and developing industry benchmarks. Her work is anchored in delivering actionable insights that empower clients to make informed strategic decisions.

Mrinal’s core strength lies in translating complex quantitative datasets into meaningful business intelligence. Her analytical acumen is instrumental in shaping go-to-market (GTM) strategies and uncovering growth opportunities across the pharmaceutical and medical device sectors. As a trusted consultant, she consistently focuses on streamlining workflow processes and establishing best practices, thereby driving innovation and operational efficiency for her clients.

What are the Photomedicine Devices and Technologies Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

Photomedicine Devices and Technologies Market Report Snapshots

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