Phototherapy Equipment Market Value to Hit USD 800 million by 2026

The global phototherapy equipment market value to reach around USD 800 million by 2026 and market is estimated to grow at CAGR above 5.9 % over the forecast time frame 2019 to 2026.

Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Phototherapy Equipment Market (By Product: LED, Conventional, Fiberoptic; By Application: Neonatal Jaundice Management, Skin Disease Treatment; By End Use: Homecare, Hospitals & Clinics) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.

The increasing incidence of skin illnesses worldwide has resulted to increasing demand for equipment for phototherapy. Nearly 150,000 fresh instances of psoriasis grow in the United States annually, according to the healthline information. In the near future, therefore, growing psoriasis will increase demand for these appliances. Eczema has also led to business development as one of the most serious skin conditions. Jaundice is another condition which needs phototherapy to lower elevated concentrations of bilirubin.

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Key Findings

The second largest share of the market in conventional phototherapy equipment was the broad use of such equipment in the therapy of skin diseases. Due to its cost-effectiveness and durable impact, LED machinery is anticipated to experience the greatest CAGR over the projected era.

Due to increasing incidence of psoriasis and eczema, the segments of skin cancer applications represented the biggest share of income in 2018.

The peak development at CAGR is projected to be around 6.5 percent during the prediction era owing to the growing occurrence of the condition in neonatal jaundice management.

Due to rapid use of sophisticated technology in the field of phototherapy in this area, North America resulted the phototherapy market in 2018.

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Key Players

Natus Medical, Inc.; Philips Lighting Holding B.V., Herbert Waldmann GmbH & Co., are some of the leading businesses available on the market. Other includes KG; Nice Neotech Medical Systems Pvt. Ltd.; NBC; Solarc Systems, Inc. and Atom Medical Corp.

Market Segmentation

Global Phototherapy Equipment Market, By Product
LED
Conventional
Fiberoptic

Global Phototherapy Equipment Market, By Application
Neonatal Jaundice Management
Skin Disease Treatment

Global Phototherapy Equipment Market, By End Use
Homecare
Hospitals & Clinics

Global Phototherapy Equipment Market, By Geography
North America.
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)

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