Photomedicine Technologies Market Estimated to Record Highest CAGR by 2019

Photomedicine is a branch of medicine that involves the application of light and photobiology for the treatment and diagnosis of diseases and complications related with health. Photomedicine consists of exposure to lights with specific wavelengths using lasers, polychromatic polarized light, full-spectrum light, dichroic lamps, light-emitting diodes and fluorescent lamps. Photomedicine has a broad range of applications, however some of the routinely used areas of applications are Dermatology, Pain management, Oncology, Tattoo removal, Optical diagnostics, Wound healing, Dental procedures, Hair removal, Skin resurfacing. Photomedicine also includes the cellular and molecular mechanisms of chemistry, pharmacology, pathology and physiology as they apply to photobiology.

Geographically, North America accounts for the largest Photomedicine Technologies Market owing to the large base of baby boomers and increased desire to retain youth and beauty among population. Based on a report by American Society of Plastic Surgeons (ASPS), it has been estimated that in 2012 approximately 45,534 procedures for body contouring were performed on weight reducing patients in the U.S. However, other growing markets such as Germany, Italy, Japan, India, China, Brazil and Saudi Arabia are expected to witness high market growth owing to the rise in demand for novel therapies for body contouring and other medical conditions.

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The primary factors contributing in the growth of this market are rise in aging population and increased awareness for beauty and well-being among people. Moreover, other factors contributing in this market are high adoption rate of minimally invasive medical aesthetic technologies and development of advance body contouring devices for better outcome. However, high development costs and product safety issues are some factors that might impede the overall growth of the photomedicine market.

Some of the companies involved in the photomedicine market are THOR Photomedicine Ltd., The Wellman Center for Photomedicine, Lumenis Ltd., Colorado Skin and Vein and Alma Lasers Ltd.

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