Global Photomedicine Technology Market: Snapshot
Strides in photomedicine technology market are fueled increasingly advances in photodermatology. The scope of innovation in the photomedicine technology market is vast, ranging from providing from sunburn to the treatment of aggressive skin cancer. This is attributed to the application of photomedicine technology for understanding the skin immune system and evaluating the effect of UV exposure on the system. Tellingly, such efforts by researchers have resulted in creating promising frontiers for proponents of phototherapy in the healthcare industry. This aside, photomedicine technologies hold great promise in detecting, diagnosing, and treating a wide range of diseases over the past few years. Growing use of nanoscience and the advent of slew of new nanoparticles are expanding the scope of photomedicine therapy. Some of the promising application areas in the photomedicine technology market are surgery, dermatology, cardiology, and oncology.
Global Photomedicine Technology Market: Growth Dynamics
Widespread use of laser-based treatments in surgery underpins the growth momentum of the market. A prominent case in point is growing demand for laser-based technologies in cosmetic surgeries.
Over the past few years, researchers have increased their understanding of the pathophysiology of various forms of photodermatoses. Growing awareness of dermatological treatments based on phototherapy among people in developing and developed nations has helped boost the clinical prospects of photomedicine technology. In particular, drug and device makers in the photomedicine technology market are focusing on new therapies for pruritic skin diseases--an emerging avenue. In developed nations as well as a few developing ones, a range of aesthetic procedures have gathered steam among the populations, such as acne phototherapy and unwanted hair removal. A growing number of clinical trials in this direction are bolstering the prospects of photomedicine. A case in point is the promise of double phototherapy protocols for the treatment of acne.
A novel form of therapy that is growing in significance for the rare type of skin cancer, T cell lymphoma, is extracorporeal photopheresis (ECP). Growing demand for minimally invasive aesthetic procedures is expected to boost the photomedicine technology market.
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Global Photomedicine Technology Market: Notable Developments
The growth of the photomedicine technology market has seen new avenues from the growing clinical application of newly discovered forms of phototherapy. Recent years have seen rapid advances in narrowband UVB and psoralen and ultraviolet A (PUVA) therapy.
Numerous companies eyeing opportunities in the photomedicine technology market are leaning on advancing their expertise on photobiomodulation (PBMT). They have unveiled new array of photomedicine technologies for reducing pain and inflammation. Growing popularity of non-invasive therapeutic treatments using red and near infrared light has stirred large research investments. A case in point is a Utah-based company TheraLight, LLC.
Some of the promising players in the photomedicine market are
- IRIDEX Corporation
- PhotoMedex, Inc.
- Syneron Medical Ltd.
- QBMI Photomedicine
- THOR Photomedicine Ltd.
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Global Photomedicine Technology Market: Regional Assessment
On the regional front, the photomedicine technology market is witnessing substantial revenue streams in North America. Vibrant research frameworks on various phototherapy modalities in the U.S. and Canada, supported by government initiatives, have helped companies unveil new photomedicine technologies for range of diseases, particularly skin cancer. Growing clinical promise of laser-based targeted therapies in personalized treatments have further expanded the opportunities for device makers in the regional market.
Meanwhile, Asia Pacific has been witnessing growing prospect of phototherapies in various branches of science, most notably in oncology and cardiology. Further, the incredible potential that the technology has shown in aggressive types of cancer has propelled strides in the photomedicine technology market in numerous developed regions of the world.
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