Vancouver, B.C., September 18, 2020 – 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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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.
The latest market intelligence report, titled ‘Global Phototherapy Devices Market’, is intended to provide the target audience with the necessary information about the global Phototherapy Devices industry.
Key Highlights of the Phototherapy Devices Market 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.
The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Phototherapy Devices market players.
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The research study presents an industry-wide summary of the Phototherapy Devices market, including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The Phototherapy Devices7 report analyzes the market based on different categories, such as product types, end-user applications, and leading geographical regions.
The Phototherapy Devices market report provides an in-depth analysis of the key competitors operating in the industry. The report offers insights into their product portfolio, business overview, financial standing, market position, revenue generation, market share and market size, and production and manufacturing capacity along with pricing analysis.
- 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 Phototherapy Devices industry report mainly focuses on the key market regions where the market is spread, including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report further focuses on the key segments of the market, such as product types, application spectrum, technology, end-user industries, among others.
Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Answered in the Report:
- What is the growth rate of the Phototherapy Devices market? What is the anticipated market valuation of the Phototherapy Devices industry by 2027?
- What are the key growth driving and restraining factors of the Phototherapy Devices market?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are the key opportunities and growth prospects of the Phototherapy Devices industry over the forecast period?
- Which region is expected to show significant growth in the coming years?
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