New York, October 06, 2021 – Reports and Data has published its latest report titled “Phototherapy Market Analysis, By Therapy Type (Ultraviolet B, Psoralen UV A) By Disease Type (Skin Diseases, Cancers and Pre-cancers, Neonatal Jaundice, Mood and Sleep Disorders) By Device Type (CFL, LED, Lamps) By End Use (Home, Clinic, Hospital), Forecasts To 2028.”
Rising investments on R&D activities for development of phototherapy equipment, growing incidence of neonatal jaundice, and continuous technological developments are some key factors driving market growth
Download sample @ https://www.reportsanddata.com/sample-enquiry-form/1526
According to Reports and Data, the global phototherapy market size was USD 554.6 million in 2020 and is expected to reach USD 784.0 million in 2028 and register a revenue CAGR of 4.4% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities
Phototherapy is the use of a specific type of light to treat a condition (not sunlight). It’s occasionally used to treat infant jaundice by reducing bilirubin levels in baby’s blood through a photo-oxidation process. The bilirubin undergoes photo-oxidation, which adds oxygen to it and allows it to dissolve easily in water. Phototherapy is also known as heliotherapy and light therapy.
Ongoing R&D activities and technological advancements in the healthcare industry for the introduction of phototherapy treatment along with the provision of reimbursements and government favorable regulations are some factors expected to positively impact revenue growth of the market over the forecast period.
In addition, growing awareness regarding phototherapy, rising acceptance of LED-based phototherapy equipment, and rise in healthcare expenditure are some other key factors contributing to the revenue growth of the market.
However, risks associated with phototherapy treatments is a major factor expected to restrain global phototherapy market revenue growth over the forecast period. For instance, Exposure to artificial ultraviolet light in high amount increases risk of developing skin cancer. Frequent phototherapy treatments can also lead to suppress immune system, immunosuppression and leaving body open to diseases, and infections too.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
To know more about the report @ https://www.reportsanddata.com/report-detail/phototherapy-market
Skin Diseases Type to Account for Largest Revenue Share:
Skin diseases segment is expected to account for largest revenue share in the global market over the forecast period attributed to increasing number of new skin diseases type owing to large scale use of cosmetics, unhealthy food habits, pollution and immune system problems. Skin conditions like psoriasis, itchy skin, vitiligo, eczema, and skin symptoms of cutaneous T-cell lymphoma can be treated using modern phototherapy.
LED Segment to Dominate Other Device Type Segment:
LED segment is expected to dominate other device type segment over the forecast period attributed to increasing use of LED for the neonatal jaundice treatment among infants. LED based phototherapy equipment are generally used for target diseases and treat the affected area is lesser time as compared to other devices.
North America to Account for a Significantly Large Revenue Share:
North America is expected to account for a significantly large revenue share over the forecast period owing to advanced healthcare system that makes accessing phototherapy much easier, growing number of neonatal jaundice cases, availability of proper healthcare infrastructure and government financial aids.
Asia Pacific to Lead in Terms of Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period attributed to increasing number of patients suffering from skin diseases, rapid urbanization and rising technological advancements in medical treatments. In addition, private and government investments for availability of basic health technologies for the treatment of different types of skin diseases especially in emerging economies (such as India and China), where hospitalization is at large scale, drive revenue growth of the APAC market.
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1526
Major Companies in the Market Include:
- Wellton Healthcare,
- GE healthcare,
- Phoenix Medical Systems,
- Nice Neotech Medical Services Pvt. Ltd.
- National Biological Corp.
- Atom Medical Corporation
For the purpose of this report, Reports and Data has segmented the global phototherapy market on the therapy type, disease type, end use, device type and region:
Therapy Type Outlook (Revenue: USD Billion; 2020-2028)
- Ultraviolet B (UVB)
- Psoralen UV A (PUVA)
Disease Type Outlook (Revenue: USD Billion; 2020-2028)
- Skin Disease:
- Mood and Sleep Disorders
- Cancers and Pre-cancers
- Neonatal Jaundice
- Other Diseases
End Use Outlook (Revenue, USD Billion; 2018-2028)
Device Type Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Buy Now Premium Research Report – https://www.reportsanddata.com/checkout-form/1526
Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
Similar Research reports by Reports and Data of Pharma and Healthcare Industry:
Human Growth Hormone Market Size, Growth & Analysis By Product Type (Powder, Solvent), By Route of Administration (Subcutaneous, Intravenous, Oral, Intramuscular), By Application (Growth Hormone Deficiency, Prader-Willi Syndrome, Turner Syndrome, Idiopathic Short Stature, Others), By Distribution Channel (Hospitals, Online Pharmacies, Retail Pharmacies), By Region, Forecast To 2027 Download PDF Brochure
Intra-Aortic Balloon Pump (IABP) Market Size, Share & Analysis By Product Type (IABP Consoles, IABP Catheters, Introducer Tray), By Indication (Heart Transplant, Acute Coronary Syndrome, Coronary Artery Diseases, Chronic Heart Failure, Cardiogenic Shock, Others), By Condition Type (Pre-Operative, Post-Operative, Intra-Operative), By Balloon Size (50cc, 40cc, 30cc), By End-User (Hospitals, Cardiac Care Centers), By Region, Forecast To 2027 Download PDF Brochure
Microplate Readers Market Size, Share & Analysis, By Types (Optical Filter Microplate Reader, Optical Grating Microplate Reader, Multi-Mode Microplate Readers, Single-Mode Microplate Readers And Others), By Application (Clinical Field, Nonclinical Field And Others), By Region, Forecast To 2027 Download PDF Brochure
About Reports and Data:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Read Latest Press Release @ https://www.reportsanddata.com/press-release/global-phototherapy-market