Vancouver, BC -- (SBWIRE) -- 02/09/2021 -- Phototherapy devices are used to treat patients suffering from several skin diseases and jaundice in newborns using a special kind of light. The growing incidences of jaundice and skin diseases and growing R&D investments in developing advanced devices are driving the market growth. The global phototherapy devices market is projected to be valued at USD 758.6 Million by 2027, expanding at a CAGR of 4.6%.

The latest market evaluation report on the Phototherapy Devices market explores how the Phototherapy Devices market will continue to expand for the forecast period 2020 - 2027. The study further serves as a unique research for stakeholders, product owners, and field marketing executives looking for actionable data and unique resource on market size, share, and growth. The market intelligence report gives business evangelists an authority to review the major trends, opportunities, and challenges expected to shape the future of the industry during the estimated period. Importantly, the study not only helps spot the major vendors but also their winning strategies. The real-time data accumulated through qualitative and quantitative research technique further help business owners determine where they stand in comparison to their region, country, and product category.

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Phototherapy Devices Market Drivers
Growing incidences of jaundice is a major driving factor for the market demand during the forecast period. The growing incidences of skin diseases like eczema and vitiligo and the increasing preferences of the people to be treated by LED-based phototherapy devices will boost the market demand over the forecast period. Furthermore, growing R&D investments for the development of better and advanced technology will fuel the market growth. Moreover, the growing investments in the healthcare sector will further encourage market growth over the forecast period.

Phototherapy Devices Market Regional Analysis
North America is expected to dominate the market growth during the forecast period due to growing incidences of skin diseases in the region and increasing investments for the development of better technologies. Moreover, growing awareness among the people regarding the treatment of skin diseases by phototherapy will boost the demand for these devices. The Asia Pacific region is projected to exhibit significant growth during the forecast period due to the high investments for the development of a better healthcare sector.

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Key Highlights From The Report
LED-Based Phototherapy Devices dominate the market with a share of 55.8% in 2019 due to its cost-effectiveness and higher efficiency.
The Hospitals & clinics segment dominated the phototherapy devices market due to the increasing number of neonatal jaundice cases. Besides, the favorable reimbursement policies generated by the U.S. government for curing skin conditions will indeed shift the patient's preference towards hospital treatments.
Asia-Pacific is expected to be the fastest-growing segment over the forecast period due to the enhancement of the healthcare infrastructure with advanced diagnostic solutions.

Phototherapy Devices Market Key participants include Natus Medical Incorporated, Philips Lighting Holding B.V., GE Healthcare, Atom Medical Corporation, Herbert Waldmann GmbH & Co. KG, Phoenix Medical Systems Pvt. Ltd., Nice Neotech Medical Systems Pvt. Ltd., Solarc Systems Inc., National Biological Corporation, and The Daavlin Company, among others.

Phototherapy Devices Market Product Outlook (Revenue, USD Billion; 2017-2027)
LED-Based Phototherapy Devices
Fibreoptic Phototherapy Devices
Conventional Phototherapy Devices (Fluorescent Lamps, Compact Fluorescent Lamps)

Phototherapy Devices Market Application Outlook (Revenue, USD Billion; 2017-2027)
Neonatal Jaundice Management
Skin Disease Treatment (Vitiligo, Eczema, Psoriasis)

Phototherapy Devices Market End User Outlook (Revenue, USD Billion; 2017-2027)
Homecare
Hospitals & Clinics

The report relies on advanced primary and secondary research methodologies to assess information. The data for the study is gathered from reliable and trustworthy sources, ensuring the authenticity and accuracy of the research study. We also employ qualitative and quantitative analysis to deliver a comprehensive and all-encompassing research study on the global Phototherapy Devices market. The report also comprises of SWOT analysis, PESTLE analysis, and Porter's Five Forces Model analysis, to offer the reader with a complete and all-inclusive study of crucial segments of the global Phototherapy Devices market.

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Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market's growth?

Phototherapy Devices Market Research Methodology
Data triangulation and market breakdown
Research assumptions Research data including primary and secondary data
Primary data includes breakdown of primaries and key industry insights
Secondary data includes key data from secondary sources

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Table of Content
Chapter 1. Phototherapy Devices Market Methodology & Sources
1.1. Phototherapy Devices Market Definition
1.2. Phototherapy Devices Market Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Phototherapy Devices Market Segmentation & Impact Analysis
Chapter 5. Phototherapy Devices Market By Technology Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Phototherapy Devices Market By Product Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Continued…