Report : Asia Pacific Photomedicine Devices and Technologies Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Photodynamic Therapy (PDT), Immuno-PDT (Photoimmune Therapies), Fluorescence-Guided Surgery, Photodynamic Diagnosis, Photobiomodulation (Lasers Lights), and Other Technologies) and Application (Aesthetics and Dermatology, Oncology, Ophthalmology, Neurology, Pain Management, Wound Healing, and Other Applications)
Hair Removal Segment to dominate Asia Pacific Photomedicine Devices and Technologies Market during 2021–2028
According to a new market research study on “Asia Pacific Photomedicine Devices and Technologies Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology and Application,” is expected to reach US$ 167.94 million by 2028 from US$ 111.20 million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific photomedicine devices and technologies market along with the drivers and restraints pertaining to the market growth. Multiple applicability of photomedicine, boosting demand for minimally invasive and noninvasive therapies, and widening technological advancements in photomedicine are the major factor driving the growth of the Asia Pacific photomedicine devices and technologies market. However, binding regulatory framework hinders the growth of Asia Pacific photomedicine devices and technologies market.
The supply chain disruptions, along with the huge demand for efficient treatments for the therapy of COVID-19, have put the healthcare research industry in a crucial situation in the Asia Pacific region. Prohibitive measures have been taken to resist the spread of this covid-19 pandemic. The COVID-19 pandemic has had a significant impact on Asia Pacific economies. The pandemic had a negative impact on countries including India, China, Japan, and South Korea. The region's socioeconomics were significantly impacted, with negative inflation, GDPs, and an increase in unemployment. Additionally, Technologyion, supply chain, and firms and financial markets have all been impacted by the pandemic. Because of the rising number of COVID-19 cases and deaths, Japan, China, South Korea, India, and Australia are the most affected countries. Manufacturers and suppliers of medical devices shift their focus from photomedicine devices to developing and supplying COVID-19 essentials and medical devices used for respiratory issues and management of covid-19. This scenario negatively impacts the cosmetic and minimally invasive therapies performed with photomedicine devices. This pandemic is affecting the business operation of the number key players operating in the Asia Pacific region.
The Asia Pacific photomedicine devices and technologies market is segmented on the basis of technology, application, and country. Based on technology, the market is segmented into photodynamic therapy (PDT), Immuno-PDT (Photoimmune Therapies), photobiomodulation (Lasers Lights), photodynamic diagnosis, fluorescence-guided surgery, and other technologies. In 2021, Photodynamic Therapy (PDT) segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into aesthetics and dermatology, oncology, ophthalmology, neurology, pain management, wound healing, and other applications. In 2021, aesthetics and dermatology segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Further based on aesthetics and dermatology, the market is segmented into hair removal, tattoo removal, skin resurfacing, and other applications. In 2021, hair removal segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. In 2021, China held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.
Alma Lasers, Beurer GmbH, Candela Medica, Koninklijke Philips N.V., Iridex Corporation, Lumenis, THOR Photomedicine Ltd, biolitec AG, and Lumibird are among the leading companies in the Asia Pacific photomedicine devices and technologies market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, biolitec App for proctologists now available for download. It contains Information on studies, trade fairs, and workshops on SiLaC, FiLaC, LHP laser therapy.
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