Europe Photomedicine Devices and Technologies Market is expected to reach US$ 191.86 million by 2028

Photodynamic Therapy (PDT) Segment to dominate Europe Photomedicine Devices and Technologies Market during 2021–2028

According to a new market research study on “Europe Photomedicine Devices and Technologies Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Technology and Application,” is expected to reach US$ 191.86 million by 2028 from US$ 137.19 million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides trends prevailing in the Europe photomedicine devices and technologies market along with the drivers and restraints pertaining to the market growth. Growing penetration of photomedicine in cancer treatment, flourishing technological advancements in photomedicine, and surging demand for minimally invasive and noninvasive therapies are the major factor driving the growth of the Europe photomedicine devices and technologies market. However, rigid regulatory framework hinders the growth of Europe photomedicine devices and technologies market.

The result of the COVID-19 pandemic in the European region has slightly affected the medical device industry negatively. Various companies have shut down their productions, hence are unable to manufacture to meet the rising demand. The COVID–19 pandemic has shown a significant negative impact on the world and European health economies. Health services in the European region are highly prioritized to serve patients affected by COVID-19. The routine health care services have remained suspended. Therefore, it has involved photomedicine devices medical treatment and its dependable revenue generation in the region. Europe has long been within dynamic development in plastic surgery, adapting to different cultures, traditions, and surgical and medical philosophies. In recent times, these changes have been even more significant and rapid. On the other hand, the rise of corona infection has grown significantly, and it has raised the question regarding safety from the aesthetic treatments done by lasers and micro-needling. Thus, aesthetic services have been shut down in European countries. European countries have undergone the second phase of lockdown as they have experienced a second wave of corona infection. Countries like the UK, Belgium, Switzerland, Germany, France, Italy, and Spain are highly affected. Therefore, the lockdown has widely affected the movement of businesses across the region and outside the area. In addition, various conferences related to the aesthetic industry are being conducted through webinars. Hence, it is expected that the negative impact on the market is likely to continues in the following few years.

The Europe 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 Germany, France, the UK, Italy, Spain, and Rest of Europe. In 2021, Germany 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 Europe 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, Alma, a Sisram Medical Company, Launches Breakthrough ClearSkin PRO.

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