Phototherapy Equipment Market Demand 2022-2028: Increasing Cases Of Severe Skin Diseases And A Rising Number Of Preterm & Low-Weight Births
The latest market analysis report published by Reports and Data, titled ‘Global Phototherapy Equipment Market – Forecast to 2028,’ thoroughly examines the Phototherapy Equipment industry to provide essential data & information for the targeted readers. The report consists of quantitative and qualitative research on the market performed by our market experts.
The global phototherapy equipment market size was size was significantly large in 2020, and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028. Key factors responsible for driving market revenue growth are increasing adoption of LED-based phototherapy equipment and rising incidence of skin diseases across the globe.
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Phototherapy is the use of light to treat a variety of skin conditions, such as psoriasis and vitiligo, among others. The skin is exposed to a very special type of light emitted by a phototherapy equipment during the treatment. A phototherapy equipment is available in four sizes, namely, handheld & tabletop devices for spot treatment of small areas and cabinets & walk-in units.
Moreover, increasing incidence of neonatal jaundice is one of the major factors expected to fuel demand for phototherapy equipment. Besides, rising number of preterm and low-weight births, as well as surging prevalence of skin diseases, are expected to contribute to global market growth. The market is also expected to grow due to the introduction of technologically advanced phototherapy equipment and widespread adoption of LED-based phototherapy equipment.
The Phototherapy Equipment industry report emphasizes the current and upcoming market revenue growth opportunities and trends. Moreover, the report offers key information on the industry statistics, as well as a wide range of dynamic factors including drivers, restraints, risks, challenges, threats, supply & demand ratios, production & manufacturing capacities, sales & distribution networks, cost & demand volatility, import/export ratios, profit margins, and macro-economic and micro-economic factors. The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview. Our market experts have determined the current financial positions of the leading industry players in the report leveraging advanced analytical tools such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.
The global Phototherapy Equipment market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2021 to 2028. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending, and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers, and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Phototherapy Equipment market is significantly driven by factors such as the increasing prevalence of chronic diseases, rapid advancements in the healthcare and medical sector, high adoption of the latest tools and techniques, and growing funds by several public and private sectors. In addition, the rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, and increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as a shortage of medicines, vaccines, and healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
- General Electric
- Signify Holding
- Natus Medical Incorporated.
- Phoenix Medical Systems (P) Ltd.
- Atom Medical Corp.
- nice Neotech Medical Systems Pvt. Ltd.
- National Biological Corp.
- Solarc Systems Inc.
- Hospital Supply Company Pvt. Ltd.
- The Daavlin Company
- Endodoctor GmbH.
- Hospital and Homecare Medical Devices Co. LTD
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Phototherapy Equipment Market Segmentation:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Conventional Phototherapy Equipment
- Fiber-optic Phototherapy Equipment
- LED-Based Phototherapy Equipment
Application Type outlook (Revenue, USD Billion; 2018-2028)
- Skin Disease Treatment
- Other Skin Diseases
- Neonatal Jaundice Management
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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