Global phototherapy devices market will expand at 4.7% CAGR over the forecast period (2017-2022). Worldwide sales of conventional phototherapy devices currently accounts for close to 55% of the phototherapy devices revenue share and this trend is likely to continue in 2017 and beyond.
Phototherapy devices are used for treating neonatal jaundice and various skin conditions. These devices are extensively used in procedures such as reducing of bilirubin serum concentration or curing bilirubin toxicity.
Phototherapy devices are also used in treating hyperbilirubinemia in both hemolytic and non-hemolytic conditions. These devices can effectively reduce the need for frequent blood transfusions. Phototherapy devices are facilitating greater patient convenience and hence witnessing widespread adoption in hospitals and clinics.
Increasing prevalence of skin ailments such as psoriasis and eczema across the globe and the advancement of phototherapy technology is expected to influence the global phototherapy devices market over the next couple of years.
As the number of patients with skin conditions continues to soar, the urgency of developing advanced treatment modules also grows in parallel.
The introduction of cost-effective phototherapy devices based on LED technology that are more efficient than conventional devices is bringing hope to patients. Over the years, phototherapy treatment has continuously evolved due to the arrival of new technological peripherals.
Factors as such, have been instrumental in driving the adoption of phototherapy devices. Phototherapy devices are being increasingly used in treating neonatal jaundice, which is common among newborn babies with high amount of bilirubin levels.
However, the introduction of alternative modes of treatment and potential risks of side-effects coupled with stringent regulations on product approval remains a major challenge for manufacturers of phototherapy devices.
North America to Lead the Global Phototherapy Devices Market
In terms of revenue, the phototherapy devices market in North America is expected to remain highly attractive throughout the forecast period. In addition, the region’s market is projected to expand at little under 4% CAGR over 2022.
Meanwhile, the markets in Asia-Pacific excluding Japan (APEJ) and Europe are also projected to register a steady growth over the next five years.
On the basis of product type, adoption of the conventional phototherapy devices is significantly high.
By end use, the hospitals segment currently accounts for more than 60% market share in terms of revenue.
Towards the end of the forecast period, more than US$ 395 Mn worth phototherapy devices are estimated to be installed in hospitals across the globe.
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Key players mentioned in Fact.MR’s report include
- Drägerwerk AG & Co. KGaA
- Medela AG
- General Electric Company
- Natus Medical Incorporated
- Solarc Systems Inc.
- The Daavlin Company
- Schulze & Böhm GmbH
- Medisana AG
- Guangzhou Beautylife Electronic Technology co. Ltd
- Herbert Waldmann GmbH & Co. KG
- Philips Lighting Holding B.V.
- National Biological Corp.
- Nice Neotech Medical Systems Pvt. Ltd.
- Phoenix Medical Systems Pvt. Ltd.
- ALFAMEDIC S.R.O.
- NINGBO DAVID MEDICAL DEVICE CO. LTD.
- Heal Force Bio-Meditech Holdings Limited
- Natus Medical Incorporated and DIXION.
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Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Majority of phototherapy device manufacturers are actively focusing on raising the standards of medical technology in skin disease treatment. Rising concerns over severe skin ailments and the introduction of advanced phototherapy treatments is facilitating the growth of the global phototherapy device market.
A recent report by Fact.MR provides in-depth analysis of the global phototherapy devices market for the forecast period 2017-2022 and offers pragmatic insights to lead market players towards devising & implementing informed strategies.
The scope of Fact.MR’s report is to analyze the global phototherapy devices market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis.
Phototherapy device manufacturers, and stakeholders in the global market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading magazines and journals pertaining to healthcare.
The report commences with a brief information of the global phototherapy devices market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global phototherapy devices market.
The next section offers an overview of the global phototherapy devices market. This comprises an introduction to the market, along with a standard definition of - phototherapy devices. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global phototherapy devices market, the report provides updates on market opportunities, which can benefit leading manufacturers of phototherapy devices.
With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for phototherapy device manufacturers to formulate key business strategies. Detailed information on product sourcing, pricing analysis, cost structure, list of market players is provided in this section.
Considering the wide scope of the global phototherapy devices market and to offer in-depth insights, Fact.MR’s report provides segment-wise analysis and forecast.
The phototherapy devices market has been categorized on the basis of product type, end-user, light type and region. This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters.
The report’s last section comprises of the global phototherapy devices market competitive landscape, to provide readers with the dashboard view of company analysis and market players.
This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global phototherapy devices market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients.
Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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