By the end of 2021, the global Phototherapy Equipment Market was worth approximately US$ 571.8 Mn. The market is expected to grow at a 5.8% CAGR and reach a value of US$ 1109.6 Mn by 2032.
Phototherapy is also referred to as heliotherapy and light therapy. Phototherapy involves exposing patients to fluorescent light bulbs or other types of light, such as sunlight, halogen lights, and light-emitting diodes, to treat certain medical diseases. Phototherapy can treat conditions such as jaundice, vitiligo, and psoriasis by exposing the patient to either indoor or outdoor artificial or natural light sources.
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Crucial information and forecast statistics covered in the Phototherapy Equipment market report will arm both existing and emerging market players with necessary insights to craft long-term strategies as well as maintain business continuity during a crisis such as the ongoing COVID-19 pandemic.
COVID-19 Impact Analysis on Phototherapy Equipment Market
The recent outbreak of the COVID-19 has turned the spotlight on the healthcare industry, and subsequently impacted the Phototherapy Equipment market. Severe shortages of critical medical supplies and a rapid rise in number of COVID-19 cases have resulted into a revolution rather than evolution in the healthcare ecosystems. Consequently, the impact is noticeable in the Phototherapy Equipment market.
Following government’s measures, particularly social distancing norms and stay-at-home orders, doctors are delaying or postponing elective surgeries unless critical to prevent the spread of the virus to individuals with comorbidities or chronic conditions. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace.
The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Phototherapy Equipment market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
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Phototherapy Equipment Market: Segmentation
Valuable information covered in the FMI’s Phototherapy Equipment market report has been segregated into key segments and sub-segments.
By Product:
- Fiber Optic
- LED-based
- Conventional
- Others
By Application:
- Skin Disease Treatment
- Psoriasis
- Vitiligo
- Eczema
- Neonatal Jaundice Management
- Others
By End User:
- Hospitals
- Dermatology Clinics
- Homecare Settings
Phototherapy Equipment Market: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Phototherapy Equipment market. Competitive information detailed in the Phototherapy Equipment market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Phototherapy Equipment market report.
Key players covered in the report include:
- GE Healthcare
- Aeroflow Healthcare
- The Daavlin Company
- Philips Lighting Holding B.V.
- Hill-Rom
- Herbert Waldmann GmbH & Co. KG
- Solarc Systems Inc.
- Medela AG
- National Biological Corp.
- Natus Medical Incorporated
- Phoenix Medical Systems Pvt. Ltd
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Important Questions Answered in the Phototherapy Equipment Market Report
- Which end user remains the top revenue contributor in different regional markets?
- At what rate has the global Phototherapy Equipment market been expanding during the forecast period?
- How will the global Phototherapy Equipment market look like by the end of the forecast period?
- What innovative strategies are adopted by Phototherapy Equipment market players to stay ahead of the pack?
- What are the restraints affecting the growth of the global Phototherapy Equipment market?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Phototherapy Equipment market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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