Phototherapy Equipment Market | Latest Technological Trends and Advances Impacting The Global Growth

Pune, India, 2020-Feb-04 — /EPR Network/ —

Growth in the phototherapy equipment market is mainly driven by rising incidences of neonatal jaundice in both developed and developing markets, rising number of people suffering from skin diseases, inflow of technologically advanced products, and rising adoption of LED-based phototherapy equipment.

The global phototherapy equipment market is projected to reach USD 583.4 Million by 2021, growing at a CAGR of 4.5%. Currently, there is a growing demand for technologically advanced phototherapy equipment which are not only cost effective but also efficient and offer features that enhance user safety.

The main objectives of this report are to provide detailed information regarding major factors influencing growth of the market (drivers, restraints, opportunities, and industry-specific challenges), to analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for market leaders.

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Regional Growth and Demand Analysis:

North America is one of the major revenue-generating regions in the global phototherapy equipment market. The large share of this regional segment can mainly be attributed to high prevalence of neonatal jaundice cases, rising number of people suffering from skin diseases, and the presence of a favorable reimbursement structure.

Types of Phototherapy Equipment Market:

1. Conventional Phototherapy Equipment
2. Led-Based Phototherapy Equipment
3. Fiberoptic Phototherapy Equipment

LED-based phototherapy equipment use LEDs as a light source to precisely focus the required wavelength light on the affected area. In addition, the treatment time associated with LED devices is less as compared to conventional devices, as a result of the high level of radiation.

Growth in the in LED-based phototherapy equipment segment is attributed to the rising incidence of neonatal jaundice and the growing adoption of LED-based phototherapy equipment for target disease management.

Applications of Phototherapy Equipment Market:

1. Skin Disease Treatment
2. Neonatal Jaundice Management

Psoriasis treatment is expected to account for the largest share in the skin disease treatment segment in 2016. The rising prevalence of psoriasis and the growing need for psoriasis treatment are the key factors driving market growth.

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Key Players:

GE Healthcare (U.S.), Philips Lighting Holding B.V. (Netherlands), Natus Medical Incorporated (U.S.), Phoenix Medical Systems Pvt. Ltd. (India), Herbert Waldmann GmbH & Co. KG (Germany), Atom Medical Corporation (Japan), nice Neotech Medical Systems Pvt. Ltd. (India), National Biological Corp. (U.S.), and Solarc Systems Inc. (Canada), among others.