Phototherapy Device Market size was valued at US$ 575.63 Mn in 2022 and the total revenue is expected to grow at CAGR 4.1 % through 2022 to 2029, reaching nearly US$ 762.61 Mn.
Phototherapy Device Market Overview:
The Phototherapy Device Market Report from Maximize Market Research presents clients with a comprehensive assessment of the global market landscape, offering a detailed perspective. Covering the trends from 2022 to 2029, with 2021 as the foundational year, the report is a valuable resource for making crucial business decisions, drawing on the abundant information presented within the study.
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Phototherapy Device Market Report Scope and Research Methodology
The Phototherapy Device market report derives its insights from a comprehensive assessment, drawing on both primary and secondary sources. Country-specific market mapping is accomplished through internal and external proprietary data, alongside relevant patent and regulatory databases, which collectively shape the assessment of Phototherapy Device market volume. The competitive dynamics of the Phototherapy Device market are dissected with precision, delving into the minute and intricate factors that impact the market.
Dynamics of the Phototherapy Device Market:
increasing rates of low birth weight and preterm birth, as well as an increase in dermatitis and psoriasis worldwide. These are the primary elements propelling the market for phototherapy devices. The American Academy of Dermatology reports that 50 million Americans suffer from acne annually. Aside from this, the need for phototherapy treatment is anticipated to increase significantly over the projection period due to the rise in newborn cases. Continuous technical development is also anticipated to support market expansion.
Phototherapy Device Market Regional Analysis:
North America (the United States, Canada, and Mexico), Europe (Germany, France, the United Kingdom, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, and Colombia), the Middle East, and Africa have all been researched (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa). The Phototherapy Device research provides regional competitive situations. These insights assist Phototherapy Device market participants in improving tactics and creating new chances to achieve extraordinary results.
Phototherapy Device Market Segmentation:
The market for phototherapy devices is divided into three segments based on the type of technology: conventional phototherapy, LED-based phototherapy, and fibre optic phototherapy. The conventional photography category is expected to have the greatest compound annual growth rate (CAGR) of 3.94% throughout the projection period due to its ability to lower hyperbilirubin levels in newborns and patients with skin conditions. approximately 2021, this segment brought approximately $184,000,000 in revenue.The second-largest segment, LED-based phototherapy, is expected to expand at a compound annual growth rate (CAGR) of 6.0% throughout the projection period.
The phototherapy device market is divided into two segments based on application: skin disease treatment and neonatal jaundice. Treatment for skin diseases is divided into three categories: vitiligo, eczema, and psoriasis. Treatment for skin diseases is expected to expand at the fastest rate of 5.44% during the projected period. As the number of skin disorders rises, individuals always favour phototherapy as a kind of treatment. During the forecast period, neonatal jaundice is anticipated to grow at the fastest rate. According to a recent survey in 2022, jaundice affects the majority of newborns.
The hospital and specialty clinic, as well as home user segments of the phototherapy device market are based on the end user. The hospital and specialised clinic category, valued at USD 378.0 Mn in 2021, is projected to hold the largest market share.The majority of patients choose hospital-based care due to the availability of new technology and hospital amenities.
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Phototherapy Device Market Key Players:
1. GE Healthcare
2. Atom Medical
4. Herbert Waldmann
5. Natus Medical
8. National Biological
10.Solarc Systems Inc.
15.Phoenix Medical Corporation
16.Strata Skin Sciences
17.National Biological Corporation
20.Schulze Böhm GmbH
Table of content for the Phototherapy Device Market includes:
Part 01: Executive Summary
Part 02: Scope of the Phototherapy Device Market Report
Part 03: Global Phototherapy Device Market Landscape
Part 04: Global Phototherapy Device Market Sizing
Part 05: Global Phototherapy Device Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Key Questions Answered in the Phototherapy Device Market Report are:
- What is Phototherapy Device?
- What is the expected CAGR of the Phototherapy Device market during the forecast period?
- What are the global and regional trends in the Phototherapy Device Market?
- What are the major challenges that the Phototherapy Device Market could face in the future?
- How is the intervention from regulatory authority is shaping the Phototherapy Device Market?
- What growth strategies are the players considering to increase their presence in Automotive Relay Market?
- Who held the largest market share in Phototherapy Device Market?
- Market Overview
- Market Share
- Market Size
- Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments, sub-segments and region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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