Phototherapy Devices Market Global Industry Analysis and Forecast Till 2031
The global phototherapy devices market reached a valuation of around US$ 750 Mn in 2020, which amounts to around 0.2% share of the overall medical devices market. Sales of phototherapy devices are slated to surge at a CAGR of 7% to top US$ 1.5 Bn by 2031. Demand for LED-based phototherapy devices is set to increase at a CAGR of 6% across the assessment period of 2021 to 2031.
|Phototherapy Devices Market Size in 2020||US$ 750 Mn|
|Sales Forecast for Phototherapy Devices by 2031||US$ 1.5 Bn|
|Global Market Growth Rate (2021 to 2031)||7% CAGR|
|Share of Top 5 Companies||40%|
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Key Segments Covered in Phototherapy Devices Industry Research
- LED-based Phototherapy Devices
- Conventional Phototherapy Devices
- Fiber Optic Phototherapy Devices
- Full-body Phototherapy Devices
- Partial-body Phototherapy Devices
- Mobile Infant Phototherapy Devices
- Fixed Infant Phototherapy Devices
- Conventional Phototherapy Devices with Compact Fluorescent Lamp
- Conventional Phototherapy Devices with Fluorescent Lamp
- White Light Phototherapy Devices
- Red Light Phototherapy Devices
- Blue Light Phototherapy Devices
- Use of Phototherapy Devices for Skin Disease Treatment
- Use of Phototherapy Devices for Psoriasis
- Use of Phototherapy Devices for Vitiligo
- Use of Phototherapy Devices for Eczema
- Use of Phototherapy Devices for Neonatal Jaundice Management
- Use of Phototherapy Device for Scleroderma
- Use of Phototherapy Device for Seasonal Affective Disorder (SAD)
- Use of Phototherapy Device for Skin Cancer
- Use of Phototherapy Device for Sterilization
- Use of Phototherapy Devices in Hospitals
- Use of Phototherapy Devices for Home Care Settings
- Use of Phototherapy Devices for Dermatology Clinics
Phototherapy Devices Market size is done based on a triangulation methodology that is primarily based on experimental modelling approaches such as patient-level data or disease epidemiology for any key indications , number of procedures and install base analysis for any equipment to obtain precise market estimations for the base year as well as in historic data analysis. Bottom-up approach is always used to obtain Phototherapy Devices insightful data for the specific country/regions.
The country specific data is again analyzed to derive data at a global level. Specific factors/parameters are considered related to the individual Phototherapy Devices market and quantified with insightful rationale.
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Report Benefits & Key Questions Answered
- Phototherapy Devices Category and segment level analysis: Fact MR offers detailed analysis of the factors influencing the sales prospect across key segments. Phototherapy Devices category analysis provides deep insights into customer experiences, emerging trends and growth drivers. The vital information highlighted in this section will enable market players to make timely business decision to gain competitive advantage.
- Phototherapy Devices Manufacturing trend analysis: A key aspect of the study is comprehensive Phototherapy Devices manufacturing trend analysis. These insights provide vital information on how market players are coping with latest trends that are prevailing in the market.
- Innovation and acquisition activity in Phototherapy Devices: The report highlights in detail the various organic and inorganic strategies adopted manufacturers in order to gain a competitive edge in Phototherapy Devices market. Adoption of various technologies are being discussed in detail.
- Phototherapy Devices demand by country: The report forecasts the country wise demand for Phototherapy Devices between 2021 and 2031. By analyzing this section of the report, Phototherapy Devices manufacturers can accordingly invest in those regions where the demand is on the rise.
- Post COVID consumer spending on Phototherapy Devices: The Fact.MR market survey also highlights the impact of COVID-19 on medical devices industry. These insights provide vital information on how market players are executing their manufacturing strategies to coup with the COVID-19 pandemic.
Some Notable Offerings by Fact.MR Report on Phototherapy Devices market:
- MR will provide you an analysis of the extent to which this Phototherapy Devices market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
- MR will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
- Also, this report will help you to identify any trends to forecast growth rates.
- The analyzed report will forecast the general tendency for supply and demand.
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Some of the Phototherapy Devices Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:
- Details regarding latest innovations and development in Phototherapy Devices and how it is gaining customer traction during the forecast period.
- Analysis about the customer demand of the products and how it is likely to evolve in coming years.
- Latest regulations enforced by government bodies and local agencies and their impact on Demand of Phototherapy Devices Market .
- Insights about adoption of new technologies and its influence on the Phototherapy Devices market Size.
- Overview of the impact of COVID-19 on Phototherapy Devices Market and economic disruptions caused by the pandemic.
- Evaluates post-pandemic impact on the Sales of Phototherapy Devices Market during the forecast period.
What is the Phototherapy Devices Demand Outlook for the U.S.?
The U.S dominates the global market for phototherapy devices in terms of revenue. The market is expected to increase 1.5X by 2031.
Rising awareness about the benefits of phototherapy, growing concern for seasonal affective disorders, and a high frequency of skin conditions like vitiligo, psoriasis, and eczema are the major factors promoting the adoption of phototherapy devices in the U.S.
Developed healthcare infrastructure and the presence of manufacturers of phototherapy devices in the U.S. are the major drivers for the market growth in the country.
Why are Sales of Phototherapy Devices Surging in China?
Rising awareness of modern phototherapy, high per-capita disposable income, and the expansion of healthcare infrastructure is boosting the sales of phototherapy devices in China.
Moreover, growth in the percentage of newborns in China, an increase in the prevalence of neonatal jaundice, and the necessity for cost-effective devices are all expected to fuel the market growth in China.
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How Fact.MR Assists in Making Strategic Moves For Phototherapy Devices Market Manufacturer?
- The data provided in the Phototherapy Devices market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
- The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.
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