Phototherapy market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to reach at an estimated value of USD 1,460.95 million and grow at a CAGR of 4.03% in the above-mentioned forecast period. Rising number of preterm and low-weight births drives the phototherapy market.
Neonatal phototherapy devices are the type of medical devices which are used for the treatment of neonatal jaundice. Neonatal jaundice is a disease which occurs in majority of new born babies and if untreated, it may cause severe hyperbilirubinemia which leads to neurological damage or death.
Rise in prevalence of neonatal jaundice is the vital factor escalating the market growth, also rising effectiveness of phototherapy over other treatment methods, increasing adoption of Led-based phototherapy equipment, rising launch of technologically advanced phototherapy equipment and rising knowledge about the disease and technological advancements in phototherapy devices are the major factors among others driving the phototherapy market.
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Market Analysis and Insights: Phototherapy Market:
However, rising side effect of phototherapy treatment, increasing use of alternative modes of treatment and rising stringent FDA regulatory policies for the approval of new devices are the major factors among others acting as restraints, while increasing trend of purchasing refurbished phototherapy equipment in emerging markets and limited adoption of phototherapy equipment in developing nations will further challenge the growth of phototherapy market in the forecast period mentioned above.
The phototherapy market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.
Phototherapy Market Scope and Market Size
The phototherapy market is segmented on the basis of product, radiation, application and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
· On the basis of product, the phototherapy market is segmented into conventional phototherapy equipment, LED phototherapy equipment, fiberoptic phototherapy equipment and germicidal lamps and accessories.
· Based on radiation, the phototherapy market is segmented into UVA, UVB and UVC.
· Based on application, the phototherapy market is segmented into skin disease treatment, neonatal jaundice management and sterilization.
· The phototherapy market is also segmented on the basis of end-user into hospital & clinic, dermatology center and homecare.
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