Global Photomedicine Market 2017-2021

Overview of the global photomedicine market

Technavio’s market study identifies the increase in SAD cases as one of the primary factors for the growth of the photomedicine market. Seasonal affective disorder (SAD) is a medical disorder caused due to limited or no exposure to sunlight. SAD occurs when the individuals’ serotonin levels drops due to less exposure to sunlight, primarily during winter. It affects an individual's overall productivity, causes a loss of interest in most activities, and affects interpersonal relationships. Additionally, it also disrupts the individual’s sleep habits. This will subsequently drive the need for light therapy or phototherapy which uses lightboxes as a substitute to sunlight to increase the serotonin level. Our market research analysts estimate that this market will grow steadily at a CAGR of more than 7% by 2021.

The growing adoption of light therapy boxes to avoid winter blues will be one of the key trends that will gain traction in the photomedicine market during the next few years. Individuals suffering from winter blues or SAD are advised to use photomedicine therapy products such as light therapy boxes or daylight therapy lamp that are used as substitutes to sunlight. When the body receives less than the required amount of sunlight, individuals undergo several hormonal changes that affects the serotonin production of the brain. Absence of the feel-good hormone serotonin leads to sadness or depression.

Competitive landscape and key vendors

The photomedicine market is highly competitive and fragmented due to the presence of several key vendors who are facing stiff competition from the local manufacturers. New entrants in the market are adopting innovative strategies and improving their product portfolio to improve their market shares. In the coming years, the laser light therapy market will also witness innovations, M&As, product extensions, new entrants, and new product launches.

The leading vendors in the market are

• Beurer
• Koninklijke Philips
• Lumie
• Verilux

The other prominent vendors in the market are Aura Daylight, Chromogenex, Compass Health Brands, Deka Laser Technologies, Demyk Lightmod Products, Ellipse, Erchonia, Lucimed, Nature Bright, Northern Light Technology, Photomedex, Red Light Man, Sphere Gadget Technologies, and Zepter International.

Segmentation by end user and analysis of the photomedicine market

• Healthcare
• Domestic users
• Commercial users

Improved healthcare facilities and the rising demand for the treatment of diseases using light therapy influences the growth of the laser light therapy market in the healthcare sector. Some increasingly occurring diseases that demand for light treatment are psoriasis, neonatal jaundice, and other congenital diseases in newborns. The rising incidences of neonatal jaundice are also increasing the demand for blue light-based therapy in healthcare facilities.

Geographical segmentation and analysis of the photomedicine market

• Americas
• APAC
• EMEA

The Americas has several cold regions that face prolonged winter. The availability of advanced healthcare services and well-developed infrastructure in the Americas supports the presence of a large number of vendors and end-users. A significant number of vendors in the laser light therapy market in this region are offering innovative and advanced products.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global photomedicine market?
• What are the key market trends impacting the growth of the global photomedicine market?
• What are the challenges to market growth?
• Who are the key vendors in the global photomedicine market?
• What are the market opportunities and threats faced by the vendors in the global photomedicine market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global photomedicine market?

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