Photomedicine Market : Value Chain, Dynamics and Key Players (2017 - 2027)

by Ankush Nikam
Posted: May 18, 2017

Photomedicine is an interdisciplinary branch of medicine that involves the treatment and diagnosis of diseases and other complications related to health by using photobiology and light. Photomedicine treatment is done by exposing the individual to light with specific wavelengths using lasers, fluorescent lamps, full-spectrum light, polychromatic polarized light, light-emitting diodes and dichroic lamps. Moreover, photomedicine also includes the cellular and molecular mechanisms of pharmacology, chemistry, physiology and pathology as they apply to photobiology. Photomedicine has found its application in the diagnosis and treatment of heart diseases, cancer and several infections. This new treatment option of photomedicine helps better visualization and has outpaced the traditional method of diagnosing and detecting a disease.

Photomedicine Market: Drivers & Restraints

The market for photomedicine is expected to boom as there is more adoption of minimally invasive procedures, advances in medical aesthetic technologies, more augmented research funding for photomedicine, the emergence of personalized medicine and healthcare reforms shaping up the photomedicine market. Researches in the field of photomedicine to explore newer application is bringing in more investments. Researchers from the Massachusetts General Hospital proved that by using low-level laser therapy there was enhanced platelet production in animals with thrombocytopenia as compared to normal control. Thrombocytopenia is caused due to side-effects of certain drugs, leukemia, and drugs used for chemotherapy. Platelet transfusion is the established treatment for this but only used in severe cases since its risks complications include immunosuppression, allergic reaction and infection.

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Photomedicine Market: Segmentation

Photomedicine market is classified on the basis of technology, application and region.

Based on technology the photomedicine market is segmented into the following:

Fluorescent Lamps
Lasers
Polychromatic Polarized Light
Full Spectrum Light
Dichroic Lamps
Light Emitting Diodes

Cold lasers also known as low-level lasers emit through its low-powered laser light do not heat the target tissues. These lasers are used to improve conditions related to wound healing, pain management and conditions related to stroke and neurodegenerative disorders.

Based on application the photomedicine market is segmented into the following:

Oncology
Dermatology
Dentistry
Ophthalmology
Surgical procedures
Others

Photomedicine Market: Overview

The photomedicine market is expected to upsurge in the coming years owing to the number of new product approvals. Moreover, the photomedicine market is also experiencing consolidation with companies acquiring other market players. Syneron Medical Ltd. acquired New Star Lasers, Inc. to leverage on its CoolTouch family of aesthetic devices.

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Photomedicine Market: Region-wise Outlook

A geographic condition regarding orthopedic trauma device market, it has been segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific and the Middle East & Africa. North America is the leading region in the photomedicine market owing to the presence of major market player. Moreover, as compared to other regions the adoption of photomedicine in the use of treatment and diagnosis is higher. This is due to the higher rate of research undertakings and the grants received to explore this area of medicine. Asia Pacific is also emerging region due to the developing economies. Moreover as it has a strong presence for foreign tourism, there has been a growing adoption of photomedicine. For instance, Lumenis Ltd. who manufactures energy-based devices for ophthalmology, surgical and aesthetic application supported a mission to treat burn injuries in Armenia. Through its Lumenis UltraPulse to treat children with burn injuries. The company’s 2015 mission included the establishment of medical laser center in Arabkir Pediatric Hospitals.