The world photomedicine market is expected to register substantial growth in the near future attributed to the adoption of minimally invasive medically aesthetic technology, emergence of personalized medicine, new healthcare reforms and augmented R&D investment on photomedicine. Other factors that drive the photomedicine market are rising geriatric population, increasing awareness for the wellbeing and beauty of the body. However, factors such as high costs, product safety concerns and stiff competition from biologics such as proteins and antibodies are likely to restrain the growth of the market.
Photomedicine is the application of light and photobiology in the diagnosis and treatment of diseases. This new approach encompasses the study and analysis of diseases by exposing to light with specific wavelengths. This can be done using lasers, light-emitting diodes, fluorescent lamps, and others. Light has therapeutic use in various fields of medicine such as dermatology, surgery, optical diagnostics, cardiology and oncology.
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Photomedicine has been largely used in the diagnosis and treatment of cancer, heart diseases and several infections. The concept of photomedicine has outpaced the traditional methods as it allows proper penetration of light and thus helps in diagnosis and detection of diseases by enabling visualization.
Further advancements such as launch of low level laser therapy by THOR have enhanced the scope of photomedicine. Low level laser therapy is applied by therapeutics to reduce inflammation, pain and improves tissue repair.Comprehensive competitive analysis and profiles of major market players includes THOR Photomedicine Ltd., The Wellman Center for Photomedicine, Lumenis Ltd., Colorado Skin and Vein and Alma Lasers Ltd.
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The report segments the photomedicine market on the basis of application, technology, and geography.
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