The Global Phototherapy Equipment Market accounted to USD 468.14 million in 2016 growing at a CAGR of 4.72% during the forecast period of 2019 to 2026.
Market Definition: Phototherapy Equipment Market
Phototherapy is a process which uses light to treat medical conditions. In phototherapy specific wavelengths of light are used to treat medical conditions such as neonatal jaundice and skin diseases. The therapy 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. Increasing incidences of neonatal jaundice drives the market.
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Major Market Drivers & Restraints are as follows:
- Increase in the incidences of neonatal jaundice
- Increasing prevalence of severe skin diseases
- Technological advanced products in phototherapy
- Acceptance of phototherapy in various diagnostics fields
- Availability of alternative mode of treatment hampers the market
- Severe FDA regulatory policies for the approval of new devices
Key Market Competitors: Phototherapy Equipment Market
Few of the major competitors are Natus Medical Incorporated, Herbert Waldmann GmbH & Co. KG, Atom Medical Corporation, nice Neotech Medical Systems Pvt. Ltd., The Daavlin Company, National Biological Corp., Solarc Systems Inc., Koninklijke Philips N.V., General Electric Company, Getinge AB, Phoenix Medical Systems Pvt. Ltd., Honle UV America, Inc., Drägerwerk AG & Co. KGaA, Favero Health Projects Spa, ibismedical, Novos, Olidef, DAVID, Okuman Medikal Sistemler Ltd., TSE SPOL. S. R. O and ReVive Skincare among others.
The report gives the details about market trends, future prospects, market restraints, leading market drivers, several market segments, key developments, key players in the market, and competitor strategies. This market report puts light on various aspects of marketing research that range from important industry trends, market size, market share estimates, sales volume, emerging trends, product consumption, customer preferences, historic data along with future forecast and key player analysis. Under competitive analysis section, major key players existing in the market are mentioned along with various details such as company profiles, their market share analysis, and their different strategies which make them thrive in the market.
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Market Segmentation: Phototherapy Equipment Market
The global phototherapy equipment market is segmented by type into conventional phototherapy equipment, led-based phototherapy equipment and fiberoptic phototherapy equipment. Conventional phototherapy equipment is further sub segmented into conventional phototherapy equipment with fluorescent lamps and conventional phototherapy equipment with compact fluorescent lamps. Conventional phototherapy equipment is again sub segmented into full-body phototherapy equipment and partial-body phototherapy equipment.
On the basis of application the market is segmented into skin disease treatment and neonatal jaundice management. Skin Disease Treatment is further sub segmented into psoriasis, vitiligo, eczema or atopic dermatitis and other.
By end user the market is segmented into hospitals, clinics, cosmetic centers and home users.
On the basis of geography, global phototherapy equipment market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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The global phototherapy equipment market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of phototherapy equipment market for global, Europe, North America, Asia Pacific and South America.
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