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Phototherapy Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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Phototherapy is the treatment of disease or disorder by exposure to ultraviolet or infrared radiation. The main types of phototherapy broadband are UVA (PUVA and UVA1) and UVB. The most used phototherapy broadband is narrow band UVB light, which is less than 1% of the total wavelength from sunlight and has maximum absorption at wavelength at 311 nm. The patient is exposed to the selected monochromatic spectrum for a defined interval of time repeatedly under a physician’s observation in a controlled environment. Currently, narrow band UVB is the most used broadband due to advantages such as phototherapy treatment using narrow band UVB light provides quicker clearing, reduced amount of sun burn, and faster disease recovery than traditional UVB. Especially in psoriasis and vitiligo cases, narrow band UVB is considered gold standard as it helps in repigmentation of skin and is tolerated well in children as well as adults. Physician guided narrow band UVB phototherapy treatment is a well-tested, fast, and effective option with nearly no side effects. Recent advances in phototherapy equipment and increasing awareness in developing countries about the treatment of dermatological diseases present large opportunities for companies in the global phototherapy equipment market.

Major market players in the global phototherapy equipment market have various advantages such as cutting edge technologies, superior research and development, technologically advanced instruments, and skilled workforce for phototherapy equipment manufacturing. The global phototherapy equipment market is driven by increasing demand from health care professionals across the world for advanced phototherapy products, increasing focus by companies to provide quality products, increasing incidence and prevalence of dermatological disorders and chronic diseases. However, stringent regulatory guidelines regarding the use of phototherapy products and competitive cost of products are some factors restraining the global phototherapy equipment market.

The global phototherapy equipment market has been segmented based on product type, end-user, application, and region. Products based on body type are full body type and partial body type. Products based on lamp type include fluorescent tubes (white, blue, green), halogen lamps, fiberoptic systems, and LEDs. In terms of end-user, the global phototherapy equipment market has been segmented into hospitals, diagnostic labs, and others. Based on application, the market has been segmented into neonatal care and dermatology. Dermatology includes psoriasis, vitiligo, eczema, and others (acne, etc.).

Unique product specifications and superior technological advancements present significant opportunities in the global phototherapy equipment market. Availability of better diagnostic facilities, increasing improvements in R&D sector, and rising occurrence of neonatal jaundice, psoriasis, eczema, etc. are some of the factors attributed to the high growth of the global phototherapy equipment market. Widespread acceptance of phototherapy, key technical inventions, and strategic collaborations of companies in the developing countries are expected to boost the growth of the phototherapy equipment market. The risk associated with phototherapy treatment include skin irritation or skin burning due to frequent UV broadband exposure.

In terms of region, the global phototherapy equipment market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is projected to witness the highest growth driven by high prevalence of dermatological infection and neonatal jaundice, increasing adoption of new techniques in phototherapy products, and low cost of phototherapy products and treatment. North America dominates the global phototherapy equipment market, owing to factors such as increasing demand for better health care facilities and invention of effective phototherapy equipment combinations as a result of extensive research and development.

Key players in the global phototherapy equipment market are Herbert Waldmann GmbH & Co. KG, General Electric Company (GE Healthcare), Solarc Systems, Inc., National Biological Corp., Honle UV America, Inc., Nice Neotech Medical Systems Pvt. Ltd., Koninklijke Philips N.V., UVBioTek, LLC, and ibis Medical Equipment & Systems Pvt. Ltd. 

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
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