Photomedicine Technology Market is expected to grow at a CAGR of 4.3% during the forecast period of (2020 - 2023)

Photomedicine Technology Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Photomedicine Technology market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Photomedicine Technology Market report is anticipated to register a CAGR of 4.3% over a five years forecast period (2020 – 2023).”

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List of Major Key players operating in the Global Photomedicine Technology Market are –

  • Alma Lasers
  • Beurer GmbH
  • Biolitec AG
  • Koninklijke Philips N.V.
  • Lumenis Lume
  • Photomedex
  • Inc.
  • Quantel Medical
  • Inc.
  • Thor Photomedicine Ltd
  • Verilux
  • Inc.

The global photomedicine technology market is expected to register a CAGR of 4.3% during the forecast period of 2020–2023. North America dominates the global market due to an increasing focus on beauty care within its population.

Increasing Adoption of Advanced, Laser-Based Treatments

According to the data published by the American Society for Aesthetic Plastic Surgery, there were about 326,120 laser skin resurfacing procedures and 1,136,834 laser hair removal procedures undertaken in the United States in 2015. In the field of Ophthalmology, approximately 596,000 LASIK surgeries were performed in the United States in 2015. Increasing awareness about minimally-invasive procedures, advancements in laser delivery procedures, and rising demand for cosmetic surgeries are contributing to the expanding adoption of advanced laser-based therapies, which, in turn, is expected to fuel the growth of the global photomedicine technology marketduring the forecast period.
Additionally, increased awareness of aesthetics and high incidence of skin problems such as neonatal jaundice, acne, and psoriasis are also driving the market.

High Cost of Photomedicine Procedures

Cost of cosmetic surgery in the United States is higher than the developing countries. Moreover, people have to pay from their pocket, as cosmetic surgeries are not covered under insurance schemes. Developing countries have been attracting an increasing number of international patients by building state-of-the-art facilities and offering sought-after healthcare services at a fraction of the cost of the United States healthcare system. The price difference matters mostly for elective procedures, including cosmetic surgeries. High cost and low insurance coverage of cosmetic surgeries are restraining the market of photomedicine technology as cosmetic surgeries represent a major part of the photomedicine market. High cost of photomedicine therapies, coupled with expensive phototherapy devices, and the scarcity of trained personnel can also hamper the market.
Safety issues related to photomedicine devices are also restraining the growth of photomedicine technology market.

Asia-Pacific to Register Highest CAGR

North America is dominating the market due to the high buying power of the customers, favorable reimbursement policies, and an increase in the number of cosmetic surgeries in the United States. For example, in 2012 approximately 45,534 procedures for body contouring were performed for weight reduction.
The Asia-Pacific region observed a fast-paced growth due to rise in disposable income, increase in healthcare expenditure, and high potential for cost savings on aesthetic procedures.

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Scope of the Report:

The report analyses Photomedicine Technology market, which includes –

  • Analysis of the growth of Photomedicine Technology market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Photomedicine Technology market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Photomedicine Technology market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Photomedicine Technology market are discussed.
  • The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Photomedicine Technology Market Report:

  • Varying dynamics of the Photomedicine Technology industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
  • Photomedicine Technology market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Photomedicine Technology market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Photomedicine Technology Market Report:

  • The report analyses how stringent emission control norms will drive the global Photomedicine Technology market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Photomedicine Technology market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Photomedicine Technology:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023

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Contact Info: -

360 Market Updates

Mr. Ajay More

USA: +1 424 253 0807

UK: +44 203 239 8187

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