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(Medical-NewsWire.com, May 26, 2018 ) Global Phototherapy Equipment Market - Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Phototherapy Equipment Market: By Device Type (Fluorescent Lamps, Compact Fluorescent Lamps, Fiberoptic Phototherapy Equipment, LED Phototherapy Equipment, and Conventional Phototherapy Equipment), By Application (Neonatal Jaundice and Skin Diseases), By End User (Hospitals, Clinics, and Others), and Geography - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global phototherapy equipment market was valued at US$ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2018 to 2024
Market Outline: Phototherapy Equipment Market
Phototherapy or light therapy involves exposing the skin to ultraviolet light on a regular basis and under medical supervision. The UV part of the radiation emitted by the sun that is used in phototherapy, especially the ultraviolet B (UVB) and ultraviolet A (UVA) wavelengths. Using phototherapy, exposure of specific wavelengths of light using polychromatic polarized light, fluorescent lamps, and lasers is used for the treatment.
Market Dynamics: Phototherapy Equipment Market
Increase in the prevalence of neonatal jaundice and growing number of the preterm birth are the key factors attributed for the growth of the phototherapy equipment market. According to the National Center for Biotechnology Information (NCBI), around 13 million babies are affected with jaundice all across the globe. The increasing incidence of the psoriasis is aiding the growth of the phototherapy equipment market. According to the International Federation of Psoriasis Associations (IFPA), around 150,000 new cases are reported in the U.S every year and 3% of people are affected by some form of psoriasis around the world. The treatment of these skin disorders requires phototherapy, which is expected to boost the growth of the market. However, the high cost of the equipment may hinder the growth of the phototherapy equipment market.
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Market Scope: Phototherapy Equipment Market
Phototherapy equipment market is segmented based on the device type, application, and distribution channel
Based on the device type, the market is segmented into the following:
Fluorescent Lamps
Compact Fluorescent Lamps
Fiberoptic Phototherapy Equipment
LED Phototherapy Equipment
Conventional Phototherapy Equipment
Based on the application, the market is segmented into the following:
Neonatal Jaundice
Skin Diseases
o Psoriasis
o Eczema
o Other skin diseases
Others
Based on the distribution channel, the market is segmented into the following:
Hospitals
Clinics
Others
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Regional Analysis: Phototherapy Equipment Market
Geographically, global phototherapy equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America phototherapy equipment market to keep top spot in the global phototherapy equipment market. The rising awareness among the people regarding the modern treatment procedures for treating skin-related disorders is enhancing the growth of the phototherapy equipment market. For instance, according to the American Academy of Dermatology acne is the most common skin condition in the U.S., affecting around 50 million people in the country each year. Europe and Asia Pacific phototherapy equipment market is expected to grow exponentially over the forecast period.
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Competition Assessment: Phototherapy Equipment Market
Some of the players in the global phototherapy equipment market include:
Atom Medical Corporation (Japan)
National Biological Corp. (U.S.)
Solarc Systems Inc. (Canada)
GE Healthcare (U.K.)
Philips Lighting Holding B.V. (Netherlands
Natus Medical Incorporated (U.S.)
Phoenix Medical Systems Pvt. Ltd. (India)
Herbert Waldmann GmbH & Co. KG (Germany)
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