New York, NY -- (SBWIRE) -- 03/15/2021 -- According to the current analysis of Reports and Data, the global Phototherapy market was valued at USD 500.1 Million in 2018 and is expected to reach USD 717.3 Million by year 2026, at a CAGR of 4.6%. The study covers the genre of healthcare with special focus on the Phototherapy market. Phototherapy is a type of treatment that involves exposure to fluorescent light bulbs or other sources of light such as halogen lights, sunlight and light emitting diodes or LED lights in order to treat certain medical conditions. It uses Ultraviolet Light (UV Light). Mainly, there are two kinds of rays in the UV light namely, Ultraviolet A rays (UVA) and ultraviolet B rays (UVB). The treatment can be given either to a specific area of the body or to the whole body. A rise in the tendencies of the people to encounter skin diseases. Rising cases of skin diseases, neonatal jaundice, mood and sleep problems etc. along with technological advancements and increasing awareness among the people are the key driving factors. Rising preference towards minimally invasive treatments along with the continuous technological developments are some of the other key factors driving the market. However, strict regulations of the government for the launch of new, improved devices, the high costs and the side effects are the major restraining factors for the market.

Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.

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Further key findings from the report suggest

Minimal invasiveness has been attracting the attention of many in the recent times. Since photomedicine is one of the major types of minimal intrusive treatments, there has been a spur of growth in the demand for this procedure. Increasing cases of cancer and several skin diseases, has triggered research and development initiatives to develop several innovative solutions for treatment of cancer and the several other diseases, which lays a foundation for future growth.

At present, LED is the fastest growing device type with a CAGR of 5.1% due to its versatility of application. The discovery of use of LED for the treatment of neonatal jaundice among infants, has spiraled its demand over the years. LED based phototherapy equipment are used for target diseases as it uses the LED as a light source to precisely focus on the affected area with the appropriate wavelengths. The time taken by LED based devices to treat the affected area is lesser than that of the other devices. These properties attract the population to opt for the LED based phototherapy.

The treatment is categorized into several types based on the severity of the ailment. For instance, the treatment for skin diseases there are three main types of phototherapy used namely, Broadband UVB, Narrowband UVB and PUVA. Such intricacies have boosted the market due to its enhanced accuracy.

Side effects pose to be one of the main restraining factors for the market. However, most of the side effects are temporary thus encouraging a lot of people to opt for phototherapy. His is also one of the main factors driving the market.

North America holds the largest share in the market and is the largest revenue generator in the market. This is because of the technological advancements, availability of proper infrastructure, financial aids and the rising cases of skin diseases and neonatal jaundice in the region. The sector continues to grow at a CAGR of 4.3%. Europe follows North America holding a market share of around 31.2%

Based on the regions, the report covers the following regions:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Competitive Terrain:

The global Phototherapy market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.

The leading companies operating across the global Phototherapy market are listed below:

Wellton Healthcare, GE healthcare, Phoenix Medical Systems, Nice Neotech Medical Services Pvt. Ltd., National Biological Corp. and Atom Medical Corporation.

Therapy Type (Revenue, USD Million; 2016–2026)

Ultraviolet B (UVB)

Psoralen UV A (PUVA)

Disease Type (Revenue, USD Million; 2016–2026)

Skin Disease:

Psoriasis

Eczema

Vitiligo

Acne

Other

Mood and Sleep Disorders

Cancers and Pre-cancers

Neonatal Jaundice

Other Diseases

End Use (Revenue, USD Million; 2016–2026)

Home

Hospitals

Clinics

Device Type (Revenue, USD Million: 2016-2026)

CFL

Lamps

LED

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Radical Features of the Phototherapy Market Report:

Valuable insights into the Phototherapy market to impart an in-depth understanding of the business verticle

An 8-year forecast estimation along with an analysis of key elements of the market

Technological advancements, regulatory framework, and recent developments covered in the report

Growth analysis and projections until 2027

Statistical analysis of the key players operating in the Phototherapy industry

Table Of Contents:

Chapter 1. Market Synopsis

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2018 – 2026

Chapter 3. Indicative Metrics

3.1. Rising prevalence of skin diseases

3.2. Increasing incidences of neonatal jaundice

Chapter 4. Phototherapy Segmentation & Impact Analysis

4.1. Phototherapy Segmentation Analysis

4.2. Phototherapy Market Value Chain Analysis, 2016-2026

4.3. Regulatory framework

4.4. Phototherapy Market Impact Analysis

4.4.1. Market driver analysis

4.4.1.1. Adoption of LED based phototherapy

4.4.1.2. Launch of novel devices

4.4.2. Market restraint analysis

4.4.2.1. High costs

4.4.2.2. Side effects

4.5. Key opportunities prioritized

4.6. Phototherapy Pricing Analysis

4.7. Industry analysis - Porter's

4.8. Phototherapy PESTEL Analysis

Continued…

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