Global Phototherapy Equipment Market at a CAGR of 6.02% Growth, Trends and Absolute Opportunity up t

Global phototherapy equipment market Product (CFL Phototherapy, LED Phototherapy, Others), Type (Conventional Phototherapy Equipment, Fiber-optic Phototherapy Equipment, Led-Based Phototherapy Equipment), Disease Indication (Neonatal Jaundice, Skin Diseases, Others), End User (Hospitals, Clinics, Home Care Settings)

Market Definition: Global Phototherapy Equipment Market

Phototherapy, also known as light therapy, means special light treatment. \Narrowband fluorescent B (UVB) beam is the most popular form of phototherapy used for treating eczema. This utilizes a unique UVB light emitting device, which is also the best part of the normal sunlight for eczema treatment. Many types of phototherapy can be used in exceptional circumstances to treat eczema including broadband UVB phototherapy, PUVA (Psoralen and UVA) and UVA1.

Market Drivers

• Increasing neonatal jaundice occurrence is driving the growth of the market
• The number of premature and low-weight births is increasing which is propelling the growth of the market
• Increased skin disease rates is boosting the growth of the market,
• Launch of technologically advanced phototherapy equipment and growing led-based phototherapy equipment implementation is contributing to the growth of the market

Market Restraints

• High utilization of additional treatment methods is hampering the growth of the market
• Strict FDA supervisory guidelines for the sanction of new devices is restricting the growth of the market
• Product recollection is hindering the growth of the market

Market Analysis: Global Phototherapy Equipment Market

Global phototherapy equipment market is registering a substantial CAGR of 6.02 % in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in the market can be attributed to the rising increase in neonatal jaundice occurrence, increasing number of premature and low-weight birth and increase in skin disease.

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Segmentation: Global Phototherapy Equipment Market

By Product

• CFL Phototherapy
• LED Phototherapy
• Others

By type

• Conventional Phototherapy Equipment
• Conventional Phototherapy Equipment With Fluorescent Lamps
• Full-Body Phototherapy Equipment
• Partial-Body Phototherapy Equipment
• Conventional Phototherapy Equipment With Compact Fluorescent Lamps
• Led-Based Phototherapy Equipment
• Fiber-optic Phototherapy Equipment

By Disease Indication

• Neonatal Jaundice
• Skin Diseases
• Psoriasis
• Eczema
• Other Skin Diseases
• Others

By End User

• Hospitals
• Clinics
• Home Care Settings

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Key Developments in the Market:

In August 2019, Safaricom Foundation introduced an infant Sh8 million unit. It helps to enhance motherly and neo-natal healthcare services in the Lamu by installation of new incubators, newborn baby oxygen masks, a phototherapy unit, and digital equipment. This facility ensures better healthcare for Lamu residents.

In March 2019, Aesthetic Technology Ltd announced the launch of Tri-Wave MD and the Flex, designed for photodynamic therapy. That device supplies all three wavelengths at an enhanced optical power concurrently. The Flex has also delivered the same feature as Tri-Wave MD deliver but it can also use on face and body. The innovations associated with these products will help the company capture a greater market share and expand its presence in the phototherapy equipment offerings

Competitive Analysis:

Global phototherapy equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of phototherapy equipment market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Data collection and base year analysis is done using data collection modules with large sample sizes.