Phototherapy, also known as light therapy, involves exposing the skin to ultraviolet light under medical supervision. Narrow-band UVB (NBUVB), Ultraviolet A (UVA)/NBUVB (in combination), and PUVA (psoralen + UVA) are the common types of phototherapy used. The choice of the type of phototherapy is dependent on the type of skin condition. However, narrow-band UVB is most widely opted due to its versatility and effectiveness for treating psoriasis, eczema, and mycosis fungoides patients across the world. Furthermore, narrow-band UVB removes redundant and harmful UV rays by emitting wavelengths of 311-312 nm. Phototherapy equipment includes LED phototherapy equipment, fiber-optic phototherapy equipment, and conventional phototherapy equipment.
Rising prevalence of psoriasis is expected to accelerate growth of the phototherapy equipment market
Rising number of psoriasis cases are expected to boost growth of the phototherapy equipment market in the near future. For instance, according to the International Federation of Psoriasis Associations (IFPA), around 150,000 new cases are reported in the U.S every year and 3% of people are affected with some form of psoriasis around the world. Furthermore, increasing number of other skin diseases is increasing the demand for LED-based phototherapy equipment such as high intensity gallium nitric blue light emitting diode, which is very effective in lowering bilirubin by providing much higher irradiance for intensive phototherapy in the treatment of neonatal jaundice. According to the National Center for Biotechnology Information (NCBI), around 13 million babies are afflicted with jaundice globally, each year. This in turn is expected to boost growth of the phototherapy equipment market. However, high cost of the equipment is hindering growth of the market.
The global phototherapy equipment market is segmented into devices, application, end user, and geography
On the basis of devices, the global phototherapy equipment market is segmented into:
On the basis of application, the global phototherapy equipment market is segmented into:
On the basis of end user, the global phototherapy equipment market is segmented into:
On the basis of region, the global phototherapy equipment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global market, owing to the rising demand for blue light therapy technology for the treatment of acne. For instance, according to the American Academy of Dermatology acne is the most common skin condition in the U.S., affecting around 50 million people in the country each year. Furthermore, Asia Pacific is expected to be the key region in the global phototherapy equipment market, owing to the launch of an innovative phototherapy device known as Brilliance, which is a blue light used in the treatment of severely jaundiced babies.
Innovative product launches are expected to propel growth of the phototherapy equipment market
Major players in the global phototherapy equipment market include Atom Medical Corporation, Natus Medical Incorporated, Daavlin, Phoenix Medical Systems Pvt. Ltd, Philips Lighting Holding B.V., Solarc Systems, Inc., and GE Healthcare, Inc. The key players are focusing on strategic mergers and acquisitions and development of innovative products. For instance, Philips received FDA clearance for a new phototherapy device known as BlueControl 2.0 in July 2017, to treat psoriasis. Bluecontrol 2.0 is an innovative wearable medical device that involves UV-free blue LED light to control symptoms of psoriasis, and had exhibited 84% improvement in plaque symptoms during its clinical trials conducted in 2015.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.