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Adoption of Phototherapy Devices Is Projected to Remain Relatively High In Hospitals Finds Fact.MR
Big data and analytics will drive patient outcomes in a big way, and the coming years will witness a growing emphasis on healthcare service providers in the business of gathering and processing patient health data.
Phototherapy devices are used for treating neonatal jaundice and various skin conditions. These devices are extensively used in procedures such as reducing bilirubin serum concentration or curing bilirubin toxicity. Majority of phototherapy device manufacturers are actively focusing on raising the standards of medical technology in skin disease treatment. Rising concerns over severe skin ailments and the introduction of advanced phototherapy treatments is facilitating the growth of the global phototherapy device market.
A recent report by Fact.MR provides in-depth analysis of the global phototherapy devices market for the forecast period 2017-2022 and offers pragmatic insights to lead market players towards devising & implementing informed strategies.
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Increasing occurrence of skin disorders such as eczema and psoriasis across the globe coupled with technological advancement in phototherapy is projected to impact the overall sales of phototherapy devices in the near future. With the rise in number of patients having severe skin conditions, there has been a greater urgency of more advanced treatment modules. The arrival of cost-efficient and superior phototherapy equipment that run on LED technology is encouraging patients to opt for phototherapy treatment. In recent years, phototherapy treatment has undergone immense transformation owing to the development of new technological peripherals.
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.
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Market Taxonomy
Product Type
Conventional Phototherapy Devices
Fiber Optic Phototherapy Devices
Others
End User
Hospitals
Dermatology Clinics
Home Care Settings
Light Type
White Light
Red Light
Blue Light
Others
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Key Market Players Mentioned in Fact.MR’s report on the Global Phototherapy Devices Market
Medela AG, Natus Medical Incorporated
ALFAMEDIC S.R.O.
Nice Neotech Medical Systems Pvt. Ltd.
Herbert Waldmann GmbH & Co. KG
The Daavlin Company
Heal Force Bio-Meditech Holdings Limited
Drägerwerk AG & Co. KGaA
General Electric Company
Hill-Rom
Medisana AG
Natus Medical Incorporated
Solarc Systems Inc.
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