February 27, 2020

Phototherapy Equipment Market will be growing at a CAGR of 5.5% during the forecast period from 2017 to 2025

According to the latest market report published by Credence Research, Inc. “Phototherapy Equipment Market — Growth, Future Prospects, and Competitive Analysis, 2017–2025,” the global market for phototherapy equipment was valued at US$ 453.59 million in 2016 and is expected to reach US$ 748.89 million by 2025, increasing to CAGR by 5.5 per cent from 2017 to 2025.

Market Insights

Phototherapy is commonly used for the treatment of skin conditions such as psoriasis, atopic eczema, vitiligo, and neonatal jaundice. Phototherapy uses ultraviolet rays such as mid-wave light energy, i.e. UVB or long-wave light, that is. UVA, man. UVB is available on the market as a narrow-brand or broadband connection. Ultraviolet phototherapy is used to slow abnormal skin growth, primarily associated with psoriasis. Narrow UVB and PUVA bands are used in the vitiligo repigmentation process. Jaundice incidence is commonly seen in neonatals, according to Scholars Journal of Applied Medical Sciences (SJAMS), around 25–50 percent of neonates suffer from jaundice. As a result, the increasing incidence of jaundice in newborns and the increase in the prevalence of skin disorders are key factors contributing to the growth of the phototherapy market.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/phototherapy-equipment-market

The global market for phototherapy equipment is segmented by type of device into lead-based phototherapy equipment, conventional phototherapy equipment, and fiber optic phototherapy equipment. Conventional phototherapy equipment is further divided into phototherapy equipment with compact fluorescent lamps and phototherapy equipment with fluorescent lamps.

Conventional phototherapy currently dominates the global market for phototherapy equipment, as it is commonly used for the treatment of skin diseases. The global market for phototherapy equipment is segmented by type of application in the treatment of skin diseases, neonatal jaundice, and others. Skin disease is a major part of the application market for phototherapy. This segment is further divided into psoriasis, eczema / atopic dermatitis, vitiligo and skin diseases.

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In the current market scenario, North America dominated the global market for phototherapy equipment, followed by Europe. The U.S. is the largest part of the North American market for phototherapy. Increased acne skin problems among U.S. teens, neonatal jaundice are some of the factors in the growth of the phototherapy market. The growth of the phototherapy market in Europe is further fuelled by the high rate of adoption of new technology and awareness of advanced skincare treatment. The Asia Pacific is the fastest-growing market for phototherapy equipment in the forecast period. It would be the most lucrative market for low-cost phototherapy and the rising prevalence of skin diseases.

Market Competition Assessment:

Key players in the global phototherapy equipment market are Atom Medical Corporation, Arjo huntlleigh, Inc., Herbert Waldmann GmbH & Co. Kg, Honle UV America, Inc., GE Healthcare, Inc., National Biological Corporation, Natus Medical Incorporated, Nice Neotech Medical Systems Pvt. Ltd., Philips Lighting Holding B.V., Phoenix Medical Systems Pvt. Ltd., Solarc Systems, Inc., The Daavlin Company, Inc., and others.

Key Market Movements:

– National Center for Biotechnology Information (NCBI) report study states that approximately 60%-80% of healthy newborns suffer from neonatal jaundice. Every year around 13 million babies are afflicted by jaundice, out of which 9 million belong to developing countries. Therefore, developing countries are expected to be lucrative markets for phototherapy treatment

– The surge in the prevalence of skin diseases such as psoriasis, eczema is the main driver for the growth of phototherapy treatment market. According to WHO reports, psoriasis prevalence ranges from 0.09%-11.43%, thus making it a serious global problem affecting at least 100 million individuals across the world.

– With the advent of novel technologies and its high adoption rate further accelerate the growth of the phototherapy market. LED-based phototherapy is well adopted and expected to propel the demand for phototherapy treatment.

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Market Segmentation

By Device Type

  • LED-based Phototherapy Equipment
  • Conventional Phototherapy Equipment
  • Phototherapy Equipment With Compact Fluorescent Lamps
  • Phototherapy Equipment With Fluorescent Lamps
  • Fiberoptic Phototherapy Equipment

By Application Type

  • Skin Disease Treatment
  • Psoriasis
  • Eczema/Atopic Dermatitis
  • Vitiligo
  • Others
  • Neonatal Jaundice
  • Others

By Geography Segment

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of World (Middle East & Africa (MEA), Latin America)

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58573

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