Below are some of the key findings from the phototherapy equipment market research report
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Global phototherapy equipment industry overview
The rising prevalence of skin disorders is one of the key factors driving the phototherapy equipment market growth. In 2016, 5%-6% of the population in the Americas was diagnosed with psoriasis. Approximately, 9,500 people are diagnosed with skin cancer each day in the US. Various other skin orders are also becoming prevalent and are majorly caused by factors like allergies, irritants, aberrations in the genetic makeup, and lack of immunity. Phototherapy is the most common method to treat various skin disorders and is seen to be highly effective. Phototherapy equipment emits specific wavelengths of light to treat skin diseases. As skin ailments become more common, the demand for phototherapy equipment will increase, and drive the phototherapy equipment market growth.
The growing adoption of phototherapy for avoiding seasonal depression (SAD) is one of the critical phototherapy equipment market trends. In cold regions like Western Europe and North America, sunlight exposure reduces during fall and winter. This causes hormonal changes like reduction in serotonin production. The absence of the feel-good hormone serotonin leads to symptoms of depression. The use of daylight therapy lamps in the first step treatment of people suffering from SAD. SAD patients are recommended to use phototherapy equipment like light therapy boxes as a substitute to sunlight, to help reset or maintain the circadian rhythm. The demand for light therapy boxes is thereby growing in regions experiencing limited sunlight. The phototherapy equipment market report predicts that fueled by these factors, the market will grow at a CAGR of over 5% during the forecast period.
Top phototherapy equipment companies covered in this market research report
The phototherapy equipment market is highly fragmented and in the growth phase. Several established market vendors are focused on improving the distribution network and ensuring the availability of products for end-users. The market landscape is expected to become fairly concentrated by the end of the next five years. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this phototherapy equipment industry analysis report will aid clients to identify and design new growth strategies.
The report offers a complete analysis of various companies including:
- Atom Medical
- General Electric
- Natus Medical
- Phoenix Medical Systems
- Signify
Phototherapy equipment market segmentation based on geographic regions
- Americas
- APAC
- EMEA
According to global phototherapy equipment market analysis, the Americas will lead the phototherapy equipment market share until 2023. Whereas, the APAC region will account for the highest phototherapy equipment market growth over the next five years.
Phototherapy equipment market segmentation based on end users
- Healthcare
- Homecare
The healthcare user segment will account for the largest phototherapy equipment market share during the forecast period. Whereas, homecare user segment will account for the highest phototherapy equipment market growth. Additionally, the report also provides an accurate prediction of the contribution of the various end-user segments to the growth of the phototherapy equipment market size.
Key highlights of the global phototherapy equipment market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the phototherapy equipment market during the next five years
- Precise estimation of the global phototherapy equipment market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the phototherapy equipment industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of phototherapy equipment companies
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