Phototherapy Devices Market Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022

Fact.MR has recently added a new report to its vast online database. This research study is titled as “Phototherapy Devices Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” which presents an in-depth study about the production, consumption, market volume, revenue (million USD) and market share across different geographical regions.

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Phototherapy devices are used for treating neonatal jaundice and various skin conditions. These devices are extensively used in procedures such as reducing of bilirubin serum concentration or curing bilirubin toxicity. Phototherapy devices are also used in treating hyperbilirubinemia in both haemolytic and non-hemolytic conditions. These devises can effectively reduce the need for frequent blood transfusion. Phototherapy devices are facilitating greater patient convenience and hence witnessing widespread adoption in hospitals and clinics.

Increasing prevalence of skin ailments such as psoriasis and eczema across the globe and advancement of phototherapy technology is expected to influence the global phototherapy devices market over the next couple of years. As the number of patients with skin conditions continue to soar, urgency of developing advance treatment modules also grows in parallel. The introduction of cost-effective phototherapy devices based on LED technology that are more efficient than the conventional devices is bringing hope to patients. Over the years, phototherapy treatment has continuously evolved due to the arrival of new technological peripherals. Factors as such, have been instrumental in driving the adoption of phototherapy devices. Phototherapy devices are being increasingly used in treating neonatal jaundice, which is common among new born babies with high amount of bilirubinlevels. However, the introduction of alternative mode of treatments and potential risks of side-effects coupled with stringent regulations on product approval remain a major challenge for manufacturers of phototherapy devices. As per the latest report published by Fact.MR, the global phototherapy devices market will expand at 4.7% CAGR over the forecast period (2017-2022)

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Following notes form Fact.MR’s report on global market for phototherapy devices will be instrumental for market’s future prospects

· Among regions, the market in North America is expected to stay highly lucrative over the next five years. The region’s market is expected to increase at a steady CAGR over 2022. During the same time, the markets in Europe and Asia-Pacific excluding Japan (APEJ) are also expected to witness a considerable growth.

· Based on product type, conventional phototherapy will continue to witness robust adoption in 2017 and beyond. In terms of revenue, the conventional phototherapy devices segments currently holds around 55% share of the market and is expected to remain dominant during the forecast period.

· On the basis of end-use, adoption of phototherapy devices is projected to remain relatively high in hospitals. Currently, this segment command for over 60% revenue share of the market. By the 2022-end, over US$ 395 Mn worth phototherapy devices are likely to be sold globally only for hospital use.

· By light type, the white light segment is expected to reach valuation of around US$ 281 Mn by 2022-end. This segments is projected to represent a CAGR of 4.7% during the assessment period. Currently, this segment accounts for around largest revenue share of the market.

North America to Lead the Global Phototherapy Devices Market

In terms of revenue, the phototherapy devices market in North America is expected to remain highly attractive throughout the forecast period. In addition, the region’s market is projected to expand at little under 4% CAGR over 2022. Meanwhile, the markets in Asia-Pacific excluding Japan (APEJ) and Europe are also projected to register a steady growth over the next five years.

On the basis of product type, adoption of the conventional phototherapy devices is significantly high. Global sales of conventional phototherapy devices currently accounts for close to 55% revenue share of the market and this trend is likely to continue in 2017 and beyond.

By end use, the hospitals segment currently accounts for more than 60% market share in terms of revenue. Towards the end of the forecast period, more than US$ 395 Mn worth phototherapy devices are estimated to be installed in hospitals across the globe.

Competition Tracking

Key players mentioned in Fact.MR’s report include Drägerwerk AG & Co. KGaA, Medela AG, General Electric Company, Natus Medical Incorporated, Hill-Rom, Solarc Systems Inc., The Daavlin Company, Schulze & Böhm GmbH, Medisana AG, Guangzhou Beautylife Electronic Technology co.,Ltd, Herbert Waldmann GmbH & Co. KG, Philips Lighting Holding B.V., National Biological Corp., Nice Neotech Medical Systems Pvt. Ltd., Phoenix Medical Systems Pvt. Ltd., ALFAMEDIC S.R.O., NINGBO DAVID MEDICAL DEVICE CO., LTD., Heal Force Bio-Meditech Holdings Limited, Natus Medical Incorporated and DIXION.

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This release was published on openPR.