The report offers an accurate forecast estimation of the Phototherapy Devices market based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Phototherapy Devices 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.
The pandemic has caused a shortage of essential life-saving devices and medical supplies. It has severely disrupted the supply chain and raw material supplies. To meet the growing demand of the medical supplies in between the pandemic, manufacturers have increased their production capacity. The manufacturers are adopting safety regulations and preventive measures without hampering the manufacturing process.
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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 geographical areas:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Competitive Landscape:
The latest report encases an in-depth summary of the intensely competitive landscape of the Phototherapy Devices market, with systematic profiling of the companies operating across this industry. In this section of the report, experts have listed down the strategic initiatives undertaken by these market rivals for proposed business expansion. Additionally, it highlights the key developments and financial positions of these companies to explain the overall market scenario. The company profiles of the established and new players have also been assessed in the report through effective analytical tools like SWOT analysis.
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)
- Homecare
- Hospitals & Clinics
The report addresses the following key points:
- The report provides a forecast of Phototherapy Devices market, restraints, and future opportunities for the Phototherapy Devices market
- The report further analyses the changing market dynamics
- Regional analysis and segmentation of the Phototherapy Devices market with analysis of the regions and segments expected to dominate the market growth
- Extensive competitive landscape mapping with profiles of the key competitors
- In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
- Revenue forecast, country scope, application insights, and product insights
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