Press Releases
Phototherapy Equipment Market to Reach an Opportunity of US$603.2 Mn by the End of 2024

, 23 October 2018 -- The global phototherapy equipment market is forecast to exhibit a CAGR of 4.4% between 2016 and 2024.

Global Phototherapy Equipment Market: Snapshot
Use of specific wavelengths of light which are very effective in the treatment of medical conditions such as neonatal jaundice and skin diseases is known as phototherapy. Phototherapy is performed by exposing surface of skin to specific range of wavelength lights using light emitted diode (LED) lamps or fluorescent lamps or incandescent lamp such as halogen. The process is used in the treatment of neonatal jaundice and skin diseases. Psoriasis, eczema, vitiligo, and acne are the most common skin diseases treated using phototherapy treatment. The demand for phototherapy equipment has significantly risen in the last few years in response to the increasing incidence of the aforementioned skin diseases. Besides this, the increasing incidence of neonatal jaundice, advent of new technology by key players are factors driving the growth of phototherapy equipment market. Use of alternative mode of treatment such as topical and systemic therapy for skin diseases and exchange blood transfusion for neonatal jaundice are the restraining factor for growth of phototherapy equipment market.

Read Report Overview:

The global phototherapy equipment market is forecast to exhibit a CAGR of 4.4% between 2016 and 2024. At this pace, the market’s valuation will reach US$603.2 mn by the end of 2024, from US$415.0 mn in 2015.

Hospitals Segment to Rake in High Profit as Leading End User

The phototherapy equipment market is segmented based on product type, modality, diseases indication, end users, and regions. Based on product type, the phototherapy equipment market is segmented into CFL (Compact Fluorescent Lamps) phototherapy, light emitted diode (LED) phototherapy and others. The CFL phototherapy segment emerged dominant with a share of 49.6% in the market in 2015. The effective use of CFL in the treatment of psoriasis, eczema, and in combined therapy for other diseases such as cancer has aided in the expansion of the segment.
Based on modality, the phototherapy equipment market is segmented into full body phototherapy and partial body phototherapy. Of these, the full body phototherapy segment accounted for the leading market share of 57.5% in 2015. The rising incidence of neonatal jaundice and advent of advanced technologies enabling the development of cost effective devices have enabled growth in the segment. In terms of disease indication, the neonatal jaundice segment emerged dominant in the market. The increasing incidence of preterm birth, augmenting the cases of glucose-6-phosphate deficiency has fuelled the demand for phototherapy equipment.

Request A Sample:

By end user, hospitals constituted the leading segment with a share of 47.4% in the market in 2015. Through the course of the forecast period, the segment’s dominance in the market is expected to remain intact as people prefer the organized hospital setting more for treatment and surgical purposes. Also favorable reimbursement policies for hospital treatments also encourage patients to choose hospitals over other end users.
High Degree of Awareness to Seal North America’s Lead in Global Market

Regionally, the global phototherapy equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2015, North America emerged as the leading regional segment holding nearly 40% of the global phototherapy equipment market. The dominance of the region is attributed by several factors such as the rising prevalence of neonatal jaundice and skin diseases. Besides this, overall the region boasts high level of awareness and sophisticated healthcare infrastructure. These, coupled with various initiatives by governments to ensure better health in new born, have tipped the scales in favor of the phototherapy equipment market in North America.
Besides this, the market players are also expected to witness lucrative opportunities in Asia Pacific. The rising preterm birth in developing nations and investment in upgrading distribution channels provide attractive opportunities for the phototherapy equipment market in the region.

Request Brochure of Report:

On account of its diverse product portfolio and extensive global presence, GE Healthcare emerged dominant the global phototherapy equipment market in 2015. The other major players in the phototherapy equipment market are – Atom Medical Corporation, Herbert Waldmann GmbH & Co. KG, Drägerwerk AG & Co. KGaA, National Biological Corp., Solarc Systems Inc., The Daavlin Company, and Phoenix Medical Systems Pvt. Ltd, nice Neotech Medical Systems Pvt. Ltd., Natus Medical Incorporated and others.

About us:

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact us:

Transparency Market Research
90 State Street,
Suite 700,
NY – 12207
United States
Tel: +1-518-618-1030
USA – Canada Toll Free 866-552-3453

# # #

Submitted by Sandy Researcher, Transparency Market Research on Tuesday, 23 October 2018 at 8:45 PM
Category: Health Care & Medical
Related News

Coronary Stents Market: Increase in Geriatric Population to Drive Demand
Friday, 19 Apr 2019

Wearable Medical Devices Market - Rising Number of Sports and Fitness Enthusiasts to Boost the Deman
Friday, 19 Apr 2019

Catheters Market - Increasing Demand for Minimally Invasive Surgeries to Spur the Demand
Friday, 19 Apr 2019

Fragment-based Drug Discovery Market Will be Worth US$1.15 bn by 2023
Friday, 19 Apr 2019

Homeopathy Product Market is Projected to be Worth US$17,486.2 mn by 2024
Friday, 19 Apr 2019

Related Events

3rd Annual NASH Summit | April 22-25, 2019 | Boston, MA
Monday, 22 Apr 2019

Rx Drug Abuse and Heroin Summit
Monday, 22 Apr 2019

European NeoAg Summit 2019
Tuesday, 23 Apr 2019

Wednesday, 24 Apr 2019

8th Digital Marketing for Medical Devices West
Wednesday, 24 Apr 2019

Latest News

Opportunities and challenges for Sustainable Development of Chemical Fiber Industry
Monday, 22 Apr 2019

Driving7Games Stands The Best Choice For The Most Fun-filled Free Driving Games Online
Monday, 22 Apr 2019

Slick Cash Loan offers reliable online loans for people with critical financial requirements
Monday, 22 Apr 2019

Slick Cash Loan offers the best loan services for all people seeking financial solutions
Sunday, 21 Apr 2019

POS Display – New Way Of Marketing Technique
Sunday, 21 Apr 2019

Want to get your press releases, event listings, and job ads on Scoopasia? Register now for a FREE account or login if you already have one!
Scoopasia v1.0b. Copyright © 2019
Today is Monday, 22 April 2019

About Scoopasia | FAQ | Privacy Policy | Contact Us

Press Releases
Event Listings
Job Listings
Arts & Entertainment
Architecture & Construction
Automotive & Travel
Consumer Technology
Enterprise Technology
Food & Fashion
Government & Policy
Health Care & Medical
News & Media
Science & Research
Sports & Fitness
Login / Register
Get Scoopasia through RSS Feeds & Email Notifications!

Journalist's Toolbox
Hello journalist, welcome to Scoopasia--a powerful online resource for media information in Asia. Scoopasia has press releases and media events for every beat and industry. All content on Scoopasia is 100% FREE. You don't even need to login!

  • Scoop Line
    (Instant Information Request)
    The easiest way to ask questions and request information from the PR community.

  • Advanced Search
    Drill down, dig deep, for media information the way you want it.

  • Journalist's Resources
    Resources and tools you can't do without.

  • PR Tools
    Scoopasia Blog Search
    Search the largest handpicked collection of Asia's most prominent and influential blogs.

  • PR Bookmarks
  • Web 2.0 Bookmarks
  • Media Bookmarks

    More Coming Soon...

  • Upcoming Events
  • DOZ Live Inspirational Conference (DOZ Live)
  • 3rd Annual NASH Summit | April 22-25, 2019 | Boston, MA
  • Rx Drug Abuse and Heroin Summit
  • European NeoAg Summit 2019
  • 46th IOP Plasma Physics Conference, Loughborough, UK

  • Latest Jobs
    Sorry, there are currently no entries posted here.