The global photomedicine technology market size was estimated to be USD 4.75 billion in 2023 and is expected to reach at USD 10.33 billion by 2034 with a CAGR of 7.31% during the forecast period 2024-2034. Growing awareness regarding aesthetic awareness, rising technological advancements in laser treatment, increasing prevalence of skin damage, surge in the adoption of non-invasive procedures, growing demand for aesthetic enhancement procedures, rising awareness regarding beauty & well-being among the youth and elderly people, increasing demand for photomedicine products due to its minimally invasive & effective aesthetic procedures, surge in number of people suffering from vision problems, growing dermatological issues, rising dentistry procedures, increasing demand for pain management therapies, surge in advancements in laser delivery procedures, growing demand for lasers in different healthcare sectors, and rising introduction of advanced laser therapies are some of the key factors boosting the market growth.
Rising introduction of advanced laser therapies is predicted to boost the market growth during the forecast period. Photomedicine is a scientific field dedicated to researching the properties of light and its application for therapeutic purposes in healthcare. Phototherapy, which involves exposing the affected region to light of specific wavelengths, is employed in both diagnosing and treating various illnesses. For instance, in July 2023, Alma, a prominent player in the field of energy-based medical and aesthetic solutions, is pleased to introduce the Alma Veil™ to the market. This cutting-edge vascular laser workstation, operating with dual-wavelength technology, sets a high bar for excellence by enhancing effectiveness and delivering impressive results in addressing a wide spectrum of vascular and dermatological conditions.
By technology, lasers was the highest revenue-grossing segment in the global photomedicine technology market in 2023 owing to its many therapeutic uses for a variety of skin and eye conditions, as well as for different cosmetic goals, increasing adoption in therapeutic purposes in variety of fields such as cancer & pain management, rising introduction of advanced laser therapies. For instance, in October 2022, The FDA has granted clearance to multi radiance Medical’s Fibro Lux therapy laser for addressing pain linked to fibromyalgia. Additionally, photodynamic therapy is predicted to grow at fastest CAGR during the forecast period owing to the growing demand for minimally invasive procedures, surge in approvals of novel biologics by regulatory bodies,
By applications, ophthalmology was the highest revenue-grossing segment in the global photomedicine technology market in 2023 owing to an increase in eyesight issues as a result of excessive screen time on computers, phones, & televisions, growing technological advancements, and increasing approvals by regulatory bodies. Additionally, dermatology is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of cosmetic operations involves laser tattoo removal, skin resurfacing, & hair removal, rising introduction of new generation body contouring devices, growing adoption of infrared & radiofrequency to remove unwanted fat layers, and increasing launch of advanced products. For instance, in January 2022, A U.S centred company named Homiley has introduced an IPL laser hair removal solution designed for home use,aimed at safeguarding women from issues like razor bumps and ingrown hair.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing awareness regarding self-appearance, rising adoption of technologically advanced treatments, increasing healthcare expenditure, and surge in initiatives by major market players. For instance, in October 2022, Biolase has introduced a research grant portal to expedite the process of submitting, reviewing, and approving research proposals, all while building upon the robust base of clinical evidence that backs Biolase laser technology. The company is actively inviting research projects in areas such as pediatric dentistry, endodontics, periodontics, implantology, and photobiomodulation (PBM) to contribute to the ongoing development of minimally invasive laser technology within these domains. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing geriatric population, supporting government programs fostering the creation of innovative products, rising technological advancements, and surge in partnership & collaborations within market players. For instance, in March 2022, in March 2022, Cynosure, affirm specialising in creating energy- based medical and aesthetic treatment systems, has formed a distribution collaboration with Jeisys Medical KK in Japan. As per the arrangements, Jeisys Medical will hold exclusive distribution privileges for significant flagship offerings from Cynosure’s energy-based laser collection,asuch as hair removal devices, throughout Japan.
Rising introduction of advanced laser therapies is predicted to boost the market growth during the forecast period. Photomedicine is a scientific field dedicated to researching the properties of light and its application for therapeutic purposes in healthcare. Phototherapy, which involves exposing the affected region to light of specific wavelengths, is employed in both diagnosing and treating various illnesses. For instance, in July 2023, Alma, a prominent player in the field of energy-based medical and aesthetic solutions, is pleased to introduce the Alma Veil™ to the market. This cutting-edge vascular laser workstation, operating with dual-wavelength technology, sets a high bar for excellence by enhancing effectiveness and delivering impressive results in addressing a wide spectrum of vascular and dermatological conditions.
By technology, lasers was the highest revenue-grossing segment in the global photomedicine technology market in 2023 owing to its many therapeutic uses for a variety of skin and eye conditions, as well as for different cosmetic goals, increasing adoption in therapeutic purposes in variety of fields such as cancer & pain management, rising introduction of advanced laser therapies. For instance, in October 2022, The FDA has granted clearance to multi radiance Medical’s Fibro Lux therapy laser for addressing pain linked to fibromyalgia. Additionally, photodynamic therapy is predicted to grow at fastest CAGR during the forecast period owing to the growing demand for minimally invasive procedures, surge in approvals of novel biologics by regulatory bodies,
By applications, ophthalmology was the highest revenue-grossing segment in the global photomedicine technology market in 2023 owing to an increase in eyesight issues as a result of excessive screen time on computers, phones, & televisions, growing technological advancements, and increasing approvals by regulatory bodies. Additionally, dermatology is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of cosmetic operations involves laser tattoo removal, skin resurfacing, & hair removal, rising introduction of new generation body contouring devices, growing adoption of infrared & radiofrequency to remove unwanted fat layers, and increasing launch of advanced products. For instance, in January 2022, A U.S centred company named Homiley has introduced an IPL laser hair removal solution designed for home use,aimed at safeguarding women from issues like razor bumps and ingrown hair.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing awareness regarding self-appearance, rising adoption of technologically advanced treatments, increasing healthcare expenditure, and surge in initiatives by major market players. For instance, in October 2022, Biolase has introduced a research grant portal to expedite the process of submitting, reviewing, and approving research proposals, all while building upon the robust base of clinical evidence that backs Biolase laser technology. The company is actively inviting research projects in areas such as pediatric dentistry, endodontics, periodontics, implantology, and photobiomodulation (PBM) to contribute to the ongoing development of minimally invasive laser technology within these domains. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing geriatric population, supporting government programs fostering the creation of innovative products, rising technological advancements, and surge in partnership & collaborations within market players. For instance, in March 2022, in March 2022, Cynosure, affirm specialising in creating energy- based medical and aesthetic treatment systems, has formed a distribution collaboration with Jeisys Medical KK in Japan. As per the arrangements, Jeisys Medical will hold exclusive distribution privileges for significant flagship offerings from Cynosure’s energy-based laser collection,asuch as hair removal devices, throughout Japan.
Segmentation: Photomedicine Technology Market Report 2022 - 2033
Photomedicine Technology Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- Lasers
- Polychromatic Polarized Light
- Full Spectrum Light
- Dichroic Lamps
- Light Emitting Diodes
- Photodynamic Therapy
- Interventional Radiology
- Fluorescent Lamps
Photomedicine Technology Market Analysis & Forecast by Applications 2023 - 2034 (Revenue USD Bn)
- Dermatology
- Pain Management
- Oncology
- Ophthalmology
- Wound Healing
- Dental Procedures
- Aesthetics
- Others
Photomedicine Technology Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Photomedicine Technology Market: Technology Estimates & Trend Analysis
8. Photomedicine Technology Market: Application Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Photomedicine Technology Market
11. Europe Global Photomedicine Technology Market
12. Asia Pacific Global Photomedicine Technology Market
13. Latin America Global Photomedicine Technology Market
14. MEA Global Photomedicine Technology Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Lumenis
- Photomedex Inc.
- Johnson & Johnson
- Koninklijke Philips NV
- Thor Photomedicine Ltd
- Biolitec AG
- LUMIBIRD
- Beurer GmbH
- Sisram Medical Ltd (Alma Lasers)
- Candela Corporation (Syneron Medical)
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 4.75 Billion |
| Forecasted Market Value ( USD | $ 10.33 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
