$1.1 Billion Worldwide Phototherapy Equipment Industry to 2027: Featuring Atom Medical, AVI Healthcare, General Electric and Herbert Waldmann Among Others
The global phototherapy equipment market reached a value of US$ 821.34 Million in 2021. Looking forward, the publisher expects the market to reach a value of US$ 1,126.71 Million by 2027, exhibiting a CAGR of 5.41% during 2021-2027.
Report Attribute
Details
No. of Pages
143
Forecast Period
2021 - 2027
Estimated Market Value (USD) in 2021
$821.34 Million
Forecasted Market Value (USD) by 2027
$1126.71 Million
Compound Annual Growth Rate
5.4%
Regions Covered
Global
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor
Phototherapy refers to a treatment method in which the patient is exposed to outdoor natural or indoor artificial light sources for treating various disorders, including jaundice, psoriasis, and vitiligo. The procedure comprises radiant warmers, oxygen hood, jaundice meter, transcutaneous bilirubin meter, and other fiberoptic phototherapy devices as some of the common tools.
They are usually used in conjunction with overhead halogen and light-emitting diode (LED) systems to reduce sun damage to the skin, stretch marks, and wrinkles while enhancing facial texture and promoting wound healing. Currently, there is a growing demand for cost-effective, technologically advanced phototherapy equipment with enhanced user safety.
Phototherapy Equipment Market Trends:
The global phototherapy equipment market is primarily driven by the increasing prevalence of neonatal jaundice and various other dermatological ailments, such as eczema, acne, hives, and rosacea. Phototherapy devices are extensively utilized in procedures for treating bilirubin toxicity and reducing bilirubin serum concentration while significantly reducing the need for frequent blood transfusions.
This is further supported by the growing demand for sophisticated advanced phototherapy devices and escalating awareness regarding their easy availability. In line with this, the extensive healthcare expenditure, the rapid development of low-cost product variants, and the rising adoption of home phototherapy for self-treatment of skin diseases are acting as other major growth-inducing factors.
Additionally, the introduction of intelligent LED-equipped phototherapy equipment to reduce inflammation, stimulate collagen production, and rejuvenate the skin is contributing to the market growth.
Moreover, the extensive utilization of phototherapy for eliminating mild allergic reactions caused by variation in blood composition and infection is propelling the market growth.
Other factors, such as significant improvements in the healthcare infrastructure, strategic collaborations amongst key players, and continuous research and development (R&D) activities to introduce enhanced phototherapy equipment and expand their applications, are creating a positive outlook for the market.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Atom Medical Corporation, AVI Healthcare Private Limited, General Electric Company, Herbert Waldmann GmbH & Co. KG, Ibis Medical Equipment & Systems Pvt Ltd, Koninklijke Philips N.V., Narang Medical Limited, National Biological Corporation, Natus Medical Incorporated, Nice Neotech Medical Systems Pvt. Ltd., Phoenix Medical Systems Pvt. Ltd. and Solarc Systems Inc.
Key Questions Answered in This Report:
How has the global phototherapy equipment market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global phototherapy equipment market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global phototherapy equipment market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends
5 Global Phototherapy Equipment Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast
8 Market Breakup by End User 8.1 Hospitals and Clinics 8.1.1 Market Trends 8.1.2 Market Forecast 8.2 Home Users 8.2.1 Market Trends 8.2.2 Market Forecast
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape 14.1 Market Structure 14.2 Key Players 14.3 Profiles of Key Players 14.3.1 Atom Medical Corporation 14.3.1.1 Company Overview 14.3.1.2 Product Portfolio 14.3.2 AVI Healthcare Private Limited 14.3.2.1 Company Overview 14.3.2.2 Product Portfolio 14.3.3 General Electric Company 14.3.3.1 Company Overview 14.3.3.2 Product Portfolio 14.3.3.3 Financials 14.3.3.4 SWOT Analysis 14.3.4 Herbert Waldmann GmbH & Co. KG 14.3.4.1 Company Overview 14.3.4.2 Product Portfolio 14.3.5 Ibis Medical Equipment & Systems Pvt Ltd 14.3.5.1 Company Overview 14.3.5.2 Product Portfolio 14.3.6 Koninklijke Philips N.V. 14.3.6.1 Company Overview 14.3.6.2 Product Portfolio 14.3.6.3 Financials 14.3.6.4 SWOT Analysis 14.3.7 Narang Medical Limited 14.3.7.1 Company Overview 14.3.7.2 Product Portfolio 14.3.8 National Biological Corporation 14.3.8.1 Company Overview 14.3.8.2 Product Portfolio 14.3.9 Natus Medical Incorporated 14.3.9.1 Company Overview 14.3.9.2 Product Portfolio 14.3.9.3 Financials 14.3.9.4 SWOT Analysis 14.3.10 Nice Neotech Medical Systems Pvt. Ltd. 14.3.10.1 Company Overview 14.3.10.2 Product Portfolio 14.3.11 Phoenix Medical Systems Pvt. Ltd. 14.3.11.1 Company Overview 14.3.11.2 Product Portfolio 14.3.12 Solarc Systems Inc. 14.3.12.1 Company Overview 14.3.12.2 Product Portfolio
