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North America will Spearhead Growth of the Global Phototherapy Devices Market with a 40% Revenue Share

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.

The Demand analysis of Phototherapy Devices Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Phototherapy Devices Market across the globe.

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Key Segments Covered in Phototherapy Devices Industry Research

  • Product Type
    • LED-based Phototherapy Devices
    • Conventional Phototherapy Devices
    • Fiber Optic Phototherapy Devices
    • Others
      • 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
  • Light Type
    • White Light Phototherapy Devices
    • Red Light Phototherapy Devices
    • Blue Light Phototherapy Devices
    • Others
  • Application
    • 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
  • End User
    • Use of Phototherapy Devices in Hospitals
    • Use of Phototherapy Devices for Home Care Settings
    • Use of Phototherapy Devices for Dermatology Clinics

The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Market Insights of Phototherapy Devices.

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Some Notable Offerings by Fact.MR Report on Phototherapy Devices market:

  • Fact.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.
  • Fact.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.

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.

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Technological Innovation in Medical Devices Revolutionizing the Healthcare System

The medical device industry is a heterogeneous, innovative and dynamic sector. From telemedicine to artificial intelligence, robotic surgery and 3D printing, technology is revolutionizing the healthcare industry.

The intersection of healthcare and technology has led to numerous advancements in medical devices. New age medical technology has transformed the way doctors and patients participate and interact with each other. Introduction of advanced medical devices such as drug-device combinations (DDCs), preventive and predictive equipment’s, self-care devices is completely transforming the medical world.

After reading the Market insights of Phototherapy Devices Report, readers can:

  • Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
  • Analyze key regions holding significant share of total Phototherapy Devices market revenue.
  • Study the growth outlook of Phototherapy Devices market scenario, including production, consumption, history and forecast.
  • Learn consumption pattern and impact of each end use & supply side analysis of Phototherapy Devices market.
  • Investigate the recent R&D projects performed by each market player & competitive analysis of Phototherapy Devices Market Players.

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Key Takeaways from Market Study

  • Global phototherapy devices market to top US$ 1.5 Bn by 2031.
  • LED-based phototherapy devices projected to reach around US$ 800 Mn by 2031.
  • Conventional phototherapy devices projected to record above 4% CAGR over next 10 years.
  • Phototherapy devices for skin disease treatment expected to reach valuation of US$ 250 Mn by 2031.
  • Market in North America holds share of more than 40%.
  • Market in India to record 3% CAGR over forecast period of 2021- 2031.

“Phototherapy treatment has undergone immense transformation owing to the development of new technological peripherals. The effectiveness of phototherapy over other treatment methods and technological advancements in the field of infant phototherapy are expected to fuel market growth over the next ten years,” says a Fact.MR analyst.

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Last Updated: 07-Jan-2022