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
MarketsandMarkets: The phototherapy equipment market is projected to reach USD 583.4 million by 2021 from USD 468.2 million in 2016, at a CAGR of 4.5%.
Growth in the phototherapy equipment market is mainly driven by rising incidences of neonatal jaundice in both 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.
Browse through the market data tables and the ToC of the global phototherapy equipment market (2016–2021).
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Conventional Phototherapy Equipment type segment to dominate the overall phototherapy equipment market in 2016
Based on type, phototherapy equipment is classified into conventional, LED, and fiberoptic phototherapy equipment. Conventional phototherapy equipment are further classified in two segments on the basis of type of lamp installed—equipment with fluorescent lamps and equipment with compact fluorescent lamps.
Conventional phototherapy equipment segment is expected to account for the largest share in the phototherapy equipment market in 2016. The significant market share of conventional phototherapy equipment segment can primarily be attributed to factors such as high prevalence of photo-responsive skin diseases such as psoriasis, vitiligo, eczema, and acne, long-term market presence and established clinical safety and efficacy prolife of these equipment, coupled with the expanding patient population base.
The Neonatal Jaundice Management application is expected to be the fastest-growing product segment in the phototherapy equipment market during the forecast period
On the basis of applications, the global phototherapy equipment market is segmented into skin disease treatment and neonatal jaundice management. The skin disease treatment application segment is further segmented, on the basis of disease types, into psoriasis, vitiligo, eczema, and other skin diseases.
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The neonatal jaundice management segment is estimated to hold the largest share of the global phototherapy equipment market owing to the huge neonate patient pool for jaundice, high cost and risk associated with exchange transfusion treatment, use of phototherapy as the primary treatment for neonatal jaundice, and positive reimbursement scenario in developed countries.
North America to dominate the phototherapy equipment market in 2016
Geographically, the phototherapy equipment market is segmented into North America (US and Canada), Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the overall phototherapy equipment market in 2016 followed by Europe. The large share of North America can be attributed to the to the high prevalence of neonatal jaundice cases, rising number of people suffering from skin diseases, and the presence of a favorable reimbursement structure.
As of 2015, some of the prominent players in the phototherapy equipment market are GE Healthcare (U.S.), 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), among others.
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This report describes and studies the phototherapy equipment market on the basis of type, application, end-user, and region. It provides detailed information regarding the major factors influencing the growth of this market. The report includes an in-depth competitive analysis of the prominent players in this market along with their company profiles, product portfolios, recent developments, and key business strategies.
“Brief information on the research methodology for the report can be found in the report description provided on the website.”