The global photomedicine market is anticipated to grow at a considerable CAGR of 7% during the forecast period (2022-2028). The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launches, and product innovation to remain competitive in the marketplace. For instance,
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- In December 2020, Cellaria Inc in partnership with Spring Lab, Northeastern University, has been receipt of a National Institutes of Health (NIH) R01 has granted to extend and advance application for hard-to-treat cancers by innovative new photomedicine-based therapies. This partnership has been provided with $3.2M funding to develop precision therapeutics in relation with tailored to the requirements of specific patient populations. Cellaria Inc. has also provided omics data, to determine that which biomarkers are most actionable when it comes in contact with drug-resistant cells and while applying them to photomedicine.
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- In January 2020, Sebacia, Inc., launched Sebacia Microparticles in the US for the treatment of acne. This new microparticle was developed in collaboration with researchers from the Wellman Center of Photomedicine and also cleared the FDA approval. The new microparticles will also be using it and laser energy in dermatology. The company has also acquired Sienna Biopharmaceuticals ‘SNA-001 (silver photo particle technology) effectively resolving outstanding patent litigation between the firms.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Application
o By Technology
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Alma Lasers GmbH, BIOLASE, Inc., biolitecAG, Bright Medicine, Koninklijke Philips N.V., NinePoint Medical, Inc., Lumenis Ltd., Quantel Medical, and THOR Photomedicine Ltd., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Photomedicine Market Report Segment
By Application
- Dermatology
- Ophthalmology
- Dentistry
- Oncology
- Wound Healing
- Others (Surgical Procedures)
By Technology
- Laser
- Bioptron Light Therapy
- Full Spectrum Light
- Dichroic Lamps
- Light Emiting Diodes (LED) & Fluorescent Lamps
- Polychromatic Polarized Light
