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Global Phototherapy Equipment Market
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Global Phototherapy Equipment Market was value US$ 482.2Mn in 2017 and is expected to reach US$ 683.3Mn by 2026 at a CAGR of 4.45 %.The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.
The report also helps in understanding the global phototherapy equipment market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global phototherapy equipment market.
Phototherapy equipment market growth is anticipated to accelerate over the next five years, driven by the growing prevalence of skin disorders. Skin acts as a barrier to the entry of contaminants for example chemicals, and skin disorders disturb this vital function of the skin. Skin disorders are mostly caused by factors that are irritants, allergies, aberrations in the genetic makeup, and lack of immunity. It is estimated that nearby 9,500 people in the U.S. are diagnosed with skin disorders every day, which is expected to boost the demand for phototherapy equipment during the next five years.
Increasing demand for the professionals of the health sector for the advanced phototherapy products is compelling the market players to provide quality products is driving the growth of the phototherapy equipment market. Another factor that is growing the demand of the market is the increasing cases of chronic diseases and dermatological disorders. Superior technological advancements and the product specifications that are unique are giving new opportunities in the phototherapy equipment market. The stringent regulation that is executed regarding the use of the equipment and the high cost that is involved are the factors that are restraining the phototherapy equipment market growth.
Hospital & clinic segment is leading the global phototherapy equipment market based on the end user. Adoption of phototherapy devices is expected to remain relatively high in hospitals. Currently, this segment command for over 65% revenue share of the market. By the end of 2026, over US$ 415Mn worth phototherapy devices are likely to be sold globally only for hospital use.
In terms of product type, conventional phototherapy will continue to witness robust adoption in 2017 and beyond. Based on revenue, the conventional phototherapy devices segments currently holds around a 58% share of the market and is estimated to remain dominant during the forecast period.
Region-wise, North America is dominating the global phototherapy equipment market as of increasing awareness among the people towards the use of new technologies that will offer a profitable market for phototherapy equipment. The supremacy of the region is credited by several factors such as the increasing occurrence of neonatal jaundice and skin diseases. Also, overall the region boasts a high level of sophisticated healthcare infrastructure. These, along with many initiatives by governments to make sure better health in new-born, have tilted the scales in favour of the phototherapy equipment market in North America.
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The scope of the Global Phototherapy Equipment Market
Global Phototherapy Equipment Market, by Product
• Conventional Phototherapy Equipment
o Conventional Phototherapy Equipment with Fluorescent Lamp
o Conventional Phototherapy Equipment with Compact Fluorescent Lamp
• LED Phototherapy Equipment
• Fiberoptic Phototherapy Equipment
Global Phototherapy Equipment Market, by Application
• Skin Disease Treatment
• Neonatal Jaundice Management
Global Phototherapy Equipment Market, by End-use
• Hospitals & Clinics
Global Phototherapy Equipment Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Phototherapy Equipment Market
• Medela AG
• Natus Medical Incorporated
• ALFAMEDIC S.R.O.
• Nice Neotech Medical Systems Pvt. Ltd.
• Herbert Waldmann GmbH & Co. KG
• The Daavlin Company
• Heal Force Bio-Meditech Holdings Limited
• Drägerwerk AG & Co. KGaA
• General Electric Company
• Medisana AG
• Natus Medical Incorporated
• Solarc Systems Inc.
• National Biological Corp.
• NINGBO DAVID MEDICAL DEVICE CO., LTD.
• Schulze & Böhm GmbH
• Guangzhou Beautylife Electronic Technology co. Ltd.
• Philips Lighting Holding B.V.
• Phoenix Medical Systems Pvt. Ltd.
This Report Is Submitted By @Maximize Market Research Company
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