Increasing R & D for the development of technologically advanced devices and growing incidences of skin diseases and neonatal jaundice are driving the demand of the market.
The global Phototherapy Devices Market is expected to reach USD 758.6 Million by 2027, according to a new report by Emergen Research. The growth of this market can be attributed to the growing awareness among patients about the advanced diagnostic solutions provided by the improved healthcare structure. Increasing research and development by the key manufacturers for the technological advancement of the devices is augmenting the demand for the industry.
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Key Highlights From The Report
- LED-Based Phototherapy Devices dominate the market with a share of 55.8% in 2019 due to its cost-effectiveness and higher efficiency.
- The Hospitals & clinics segment dominated the phototherapy devices market due to the increasing number of neonatal jaundice cases. Besides, the favorable reimbursement policies generated by the U.S. government for curing skin conditions will indeed shift the patient’s preference towards hospital treatments.
- Asia-Pacific is expected to be the fastest-growing segment over the forecast period due to the enhancement of the healthcare infrastructure with advanced diagnostic solutions.
- Key participants include Natus Medical Incorporated, Philips Lighting Holding B.V., GE Healthcare, Atom Medical Corporation, Herbert Waldmann GmbH & Co. KG, Phoenix Medical Systems Pvt. Ltd., Nice Neotech Medical Systems Pvt. Ltd., Solarc Systems Inc., National Biological Corporation, and The Daavlin Company, among others.
Emergen Research has segmented the global Phototherapy Devices Market on the basis of Product, Application, End User, and region:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- LED-Based Phototherapy Devices
- Fibreoptic Phototherapy Devices
- Conventional Phototherapy Devices (Fluorescent Lamps, Compact Fluorescent Lamps)
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Neonatal Jaundice Management
- Skin Disease Treatment (Vitiligo, Eczema, Psoriasis)
- End User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
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The report offers a comprehensive analysis of the current growth opportunities for various regions of the Phototherapy Devices market, calculating their revenue share over the forecast timeline. Furthermore, the report analyzes the year-on-year growth rate of these regions over the forecast duration. The leading geographic regions encompassed in the report include:
- North America(U.S., Mexico, and Canada)
- Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
- Europe(U.K., Germany, France, and Rest of Europe)
- Latin America(Brazil and Rest of Latin America)
- Middle East & Africa(GCC Countries and Rest of Middle East & Africa)
Key questions addressed:
- What are the estimated CAGR for the global Phototherapy Devices market and each segment in the global market?
- Which market segments and sub-segments have been covered in this report? Which of these segments is foreseen to exhibit the highest growth rate over the projected period? What are the most prominent industry aspects likely to impact the market values and shares of the regions viz., North America, Europe, Asia Pacific, Latin America, and Middle East &Asia? What do the SWOT analysis and Porter’s five forces entailed in the report signify with respect to the future position of the market?
- Which are the leading companies operating in the global Phototherapy Devices market? What are their strengths and weaknesses?
- What are the most common market expansion strategies applied by the key market competitors to reinforce their market positions?
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Phototherapy Devices Market Segmentation & Impact Analysis
4.1. Phototherapy Devices Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
184.108.40.206. Rising incidence of neonatal jaundice
220.127.116.11. Increasing R & D for the development of technologically advanced products
18.104.22.168. Rising prevalence of skin diseases
4.2.3. Market restraints analysis
22.214.171.124. Growing Budget constraints
126.96.36.199. Increasing product recalls
188.8.131.52. Stringent regulatory framework regarding approval of new devices
184.108.40.206. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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