According to Acumen Research and Consulting, the global phototherapy equipment market is forecasted to show noteworthy CAGR around 5.9 % throughout the forecast period and reach around US$ 800 million by 2026.
The use of light in infant jaundice therapy is called photography. Bilirubin (the compound leading to jaundice) concentrations in children are the most prevalent means of minimizing them. A child is exposed during phototherapy to a sort of light absorbed by his skin and is in a plastic bed. The method is used to convert bilirubin into an easier water-soluble shape in the infant's body which can readily be excreted by stuff and urine.
The report provides analysis of global Phototherapy Equipment market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
An increased incidence of skin conditions, such as psoriasis, eczema, and acne, is the key to the development of the industry. As reported by the American Academy of Dermatology, acne impacts nearly 50 million individuals every year in the US.Therapy for the therapy of neonatal jaundice is also very helpful. The neonates are subjected to fluorescent light in this therapy, which enables them to recover more quickly. Jaundice is prevalent among newborns, but if it lasts for a lengthy time, physicians use phototherapy to treat them. 25-50% of all babies and premature neonats develop jaundice according to the Scholars Journal of Applied Medical Sciences (SJAMS).
The demand for this machinery is therefore expected to grow in the near future also with the growing instances of newborns. Constant technological progress will also increase the development of the economy. For example, D-Rev, a non-profit design firm called Design Revolution, introduced neonatal jaundice LEDs. This unit has been shown to be more energy efficient, which is ten times longer than standard equipment and relatively less expensive. Stanford Medical Schools ' research, one of D-Rev's partners, has shown its effective implementation in jaundice therapy treatment. Because of its uniformity and ease of use, most phototherapy instruments use compact fluorescent lamps.
The broad implementation range of the Conventional instruments for psoriasis and eczema-related skin conditions was also the second largest segment in 2018. The lamps and compact fluorescent lights include these. Conventional photography is a widely-used method for the therapy, and therapy of vitiligo, psoriasis and eczema for babies and preterm neonates with jaundice.
Due to the accessibility of cost-effective products, LED machinery is expected to demonstrate important development in the forecast period. The elevated effectiveness and long lasting function for the treatment of newborns that develop jaundice are other factors responsible for its development. The world's most used phototherapy sources include conventional compact fluorescent lamps. They need fewer room, more radiation and less energy than standard fluorescent lamps. Therefore, during the prediction period they are also expected to acquire important market share.
The phototherapy equipment market is classified as skin disease therapy and jaundice management on the grounds of applications. The highest incidence of serious skin disorder such as psoriasis, eczema and acne led to the therapy with skin disease in 2018. Neonatal yellow-clotting should be seen as a result of the fastest growing amount of neonates with yellow-clotting and new item start-up for neonatal jaundice therapy over the prediction era.
In 2018, hospitals and clinics were leading the market and will continue to be dominant over the predictory years. The development of the segment is supported by the increased amount of Skin Care Centers both in advanced and developing nations. Furthermore, the increasing demand in the hospital for phototherapy facilities will increase instances of neonatal jaundice. During the forecast period, the Home Care team should be the largest CAGR. Phototherapy at home is cost-effective and is expected to drive demand in home therapy environments.
Due to increasing incidence of acne-related issues, North America resulted the market in 2018. This region also has an enormous rate of acceptance for high-tech skin care appliances. Due to an increase in the incidence of skin disease like psoriasis, vitiligo und acne, the Europe phototherapy industry will develop at a profitable pace during the predicted cycle. Due to increasing knowledge of sophisticated phototherapies and developing health infrastructure in nations like Asia, India and Indonesia, the Asia-Pacific region is expected to show the greatest growth rate during the forecast period. Additionally there is anticipated to be an increase in the incidence of neonatal jaundice and demand for cost-effective appliances in this region. Government focus on skin diseases and their therapy choices in the North America area is expected to promote market growth in the region.
Some of the light wavelengths of light are extremely efficient in treating many health conditions, such as skin diseases and phototherapy jaundice forms. The main way of revealing the skin surface is through the use of a light emitted diode (LED) by a sequence of light wave lengths. This procedure is also used to treat eczema, psoriasis, acne, and vitiligo skin conditions. Thanks to the efficiency of this therapy, treatments and phototherapy equipment improve their acceptance and in turn boosts the development of the worldwide market in phototherapy equipment. Moreover, the effects of neonatal jaundice and new techniques are promoting growth in the world market for photography facilities as a result of increasing research and development (R&D). Alternatives for the treatment of topical and systematic skin conditions, however, limit the growth of the world market for phototherapy equipment.
Global Phototherapy Equipment Market, By Product
Global Phototherapy Equipment Market, By Application
Global Phototherapy Equipment Market, By End Use
Global Phototherapy Equipment Market, By Geography
The market research study on “Phototherapy Equipment Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Phototherapy Equipment market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
Natus Medical, Inc.; Philips Lighting Holding B.V., Herbert Waldmann GmbH & Co. KG; are some of the leading businesses available on the market. Other includes Nice Neotech Medical Systems Pvt. Ltd.; NBC; Solarc Systems, Inc. and Atom Medical Corp.
Companies have adopted multiple policies to enhance their worldwide presence, such as mergers and acquisitions. In March 2017 for example, Monica Healthcare, a UK-based firm, was purchased by GE Healthcare to expand its maternal childcare enterprise. The purchase merged Monica Healthcare's expertise and digital innovation with the maternal and infant care company of GE Healthcares.
Due to its broad and varied product range combined with its international presence, GE Healthcare became a worldwide market leader in phototherapy equipment in 2015.
Phototherapy blankets for hospital and home use have been created by Aeroflow healthcare for the treatment of newborn jaundice in children. This is a mobile fiber optic band that emits white or blue light to remove bilirubin from the body to ordinary concentrations. This is a moving phototherapy tool. The success rate is high, although the therapy method is comparatively slow, while the optimum child comfort levels are maintained.
According to Acumen Research and Consulting, the phototherapy equipment market value is anticipated to be worth around US$ 800 million in 2026.
The phototherapy equipment market is anticipated to grow over 5.9% CAGR during the forecast period 2019 to 2026.
In 2018, hospitals and clinics were leading the market and will continue to be dominant over the predictory years.
Due to increasing incidence of acne-related issues, North America resulted the market in 2018.
The Asia-Pacific region is expected to show the greatest growth rate during the forecast period.
Natus Medical, Inc.; Philips Lighting Holding B.V., Herbert Waldmann GmbH & Co. KG; are some of the leading businesses available on the market.
The phototherapy equipment market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).