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Phototherapy Equipment Market worth 583.4 Million USD by 2021
The report "Phototherapy Equipment Market by Type (Long lamp, CFL, LED, Fiber optic), Application (Skin diseases (psoriasis, vitiligo, eczema), Neonatal Jaundice), End-user, Geography (North America (USA, Canada), Europe, Asia-Pacific) - Global Forecast to 2021", analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Browse 63 market data tables and 41 figures spread through 119 pages and in-depth TOC on “Phototherapy Equipment Market by Type (Long lamp, CFL, LED, Fiber optic), Application (Skin diseases (psoriasis, vitiligo, eczema), Neonatal Jaundice), End-user, Geography (North America (USA, Canada), Europe, Asia-Pacific) - Global Forecast to 2021”
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This report studies the global phototherapy equipment market over the forecast period of 2016 to 2021. The market is expected to reach USD 583.4 Million by 2021, at a CAGR of 4.5% from 2016 to 2021. A number of factors, such as the rising incidence of neonatal jaundice across 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 are driving the growth of this market. On the other hand, significant use of alternative mode of treatments and stringent regulatory policies for the approval of new devices are limiting the growth of this market.
Based on the type of equipment, the global phototherapy equipment market is divided into three segments, namely, conventional phototherapy equipment, LED phototherapy equipment, and fiberoptic phototherapy equipment. Based on the type of lamp installed in conventional phototherapy equipment, they are further segmented into equipment with fluorescent lamps and equipment with compact fluorescent lamps. Conventional phototherapy equipment with fluorescent lamps come in two different sizes, namely, full body phototherapy equipment and partial body phototherapy equipment.
On the basis of applications, the global phototherapy equipment market is segmented into skin disease treatment and neonatal jaundice treatment. The skin disease treatment segment is further divided into psoriasis treatment, vitiligo treatment, eczema treatment, and other disease treatment. On the basis of end user, the global phototherapy equipment market is segmented into hospitals & clinics and home users.
As of 2016, North America held the largest share of the global phototherapy equipment market, followed by Europe. However, the Asia-Pacific market is expected to register the highest CAGR of 6.1% from 2016 to 2021. Factors such as strategic expansions by key market players in emerging Asian countries; growing adoption of low cost phototherapy equipment in India and China; and rising number of people suffering from skin diseases are responsible for the growth of the phototherapy equipment market in the Asia-Pacific region.
As of 2015, 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), Atom Medical Corporation (Japan), nice Neotech Medical Systems Pvt. Ltd. (India), National Biological Corp. (U.S.), and Solarc Systems Inc. (Canada) are some of the key players operating in the global phototherapy equipment market.
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