Phototherapy Market Regional Trends ,Growth Projection and Global Industry Analysis Report 2022-2031

Phototherapy Market According to Market Research Future analysis, the Global Phototherapy Market is anticipated to exhibit a 4.61% CAGR during the review period 2022-2031.

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment. 

Phototherapy Market According to Market Research Future analysis, the Global Phototherapy Market is anticipated to exhibit a 4.61% CAGR during the review period. As per the GBP analysis, skin disease is likely to be the leading cause of non-fatal disease burden worldwide. Skin diseases are more common in men than in women and increases with the age. The monetary weight of psoriasis is around USD 35 billion in the US each year, and treatment costs are ascending than general swelling. Light-radiating diode (LED) phototherapy addresses a practical, protected, solid, and compact psoriasis therapy. Also, it has benefits, including low force utilization, low warmth creation, and a longer life expectancy of the light-radiating unit when contrasted with other light sources.

Global Phototherapy Market is expected to witness a notable market expansion during the study period owing to the rising occurrence of severe skin diseases and the increasing number of preterm and low-weight births. Additionally, the increasing adoption of LED-based phototherapy equipment is also fuelling the growth of the market during the review period. However, the major restraining factor for the growth of the global market is differential awareness and availability between countries and issues in venture capital, start-ups, and collaborations during the forecast period.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Phototherapy Market Updates and Key-Players Strategies With Forthcoming Market, Business Prospects and Industrial Updates and Forecast To 2027 (Trending Report With Impact of Covid19)

Market Segmentation

The global phototherapy market has been classified into product, radiation, application, end-user, and region.

Based on product type, the global market has been segmented into conventional phototherapy equipment, LED phototherapy equipment, fiberoptic phototherapy equipment, germicidal lamps, and accessories. Based on the radiation segment, the global market has been divided into UVA, UVB, and UVC. Based on application type, the global phototherapy market has been segregated into skin disease treatment, neonatal jaundice management, and sterilization. In terms of the end-user segment, the global phototherapy market has been classified into hospital & clinic, dermatology center, and homecare.

Regional Analysis

Geographically, the phototherapy market has been classified into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Americas is likely to drive the largest phototherapy market is expected to register a 4.63% CAGR during the forecast period owing to the highest market share of 42.60% in 2019. The regional market growth is attributed to the surging demand for skin treatments in the US and Canada. Furthermore, the growing adoption of home phototherapy is fuelling the regional market growth during the review period. Home phototherapy is more patient-friendly in terms of avoiding frequent hospital visits and it is the most cost-effective treatment option for patients with moderate-to-severe psoriasis. Therefore, the phototherapy market in the Americas is likely to exhibit a 4.63% CAGR during the assessment period.

Europe is expected to contribute the second-largest market for the global phototherapy market followed by Asia-Pacific during the review period.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Phototherapy Market Updates and Key-Players Strategies With Forthcoming Market, Business Prospects and Industrial Updates and Forecast To 2027 (Trending Report With Impact of Covid19)

Major Players

The Prominent Players in the report on the Global Phototherapy Market include Signify Holding (Netherlands), Atom Medical Corporation (Japan), National Biological Corporation (US), Solarc Systems Inc. (Canada), GE Healthcare (US), Natus Medical Incorporated (US), Herbert Waldmann GmbH & Co. KG (Germany), Phoenix Medical Systems (P) Ltd (India), The Daavlin Company (US), and Strata Skin Sciences, Inc. (US).

COVID 19 Impacts

We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.

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