Phototherapy is use of light to treat psoriasis, vitiligo, and other skin disorders. In addition, phototherapy is an effective and safe method for preventing or decreasing rise of serum unconjugated bilirubin levels.
Increasing number of cases of skin diseases and neonatal jaundice is major factor expected to drive growth of the phototherapy equipment market over the forecast period. Furthermore, increasing demand for advance treatment methods to cure these severe diseases is expected to propel growth of the target market. In addition, development of technological advances phototherapy equipment that provides effective treatment is another factor boosting market growth over the forecast period. However, presence of alternative treatment methods is major factor expected to limit the growth of global phototherapy equipment market over the forecast period.
Based on application, the global phototherapy equipment market is segmented on the basis of neonatal jaundice, and skin diseases (psoriasis, eczema, and vitiligo). The skin diseases segment is expected to witness significant growth owing to increasing incidence of newborn jaundice across the globe.
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Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. North America contributes major market share and expected to maintain its dominance over the forecast period owing to increasing number of product approvals and high adoption of advance technologies, and increasing number of newborns developing jaundice in the region. Asia Pacific region is expected to witness rapid growth rate over the forecast period. Countries like China and India is expected to support the growth of Asia Pacific market, owing to increasing number of cases of skin cases such as psoriasis, eczema, and vitiligo in the region
Some prominent players in the global phototherapy equipment market are Philips Lighting Holding B.V., GE Healthcare, Natus Medical Incorporated, Herbert Waldmann GmbH & Co. KG, Nice Neotech Medical Systems Pvt. Ltd., Phoenix Medical Systems Pvt. Ltd., Atom Medical Corporation, National Biological Corp., Solarc Systems Inc., and The Daavlin Company.