Global Phototherapy Market is anticipated to grow at a CAGR of 6.78% over the forecast period (2021 - 2029)

PUNE, MAHARASHTRA, INDIA, April 11, 2022 /EINPresswire.com/ -- The Global Phototherapy Market Report by Absolute Markets Insights is a meticulously undertaken study. Experts with proven credentials and a high standing within the research fraternity have presented an in-depth analysis of the subject matter, bringing to bear their unparalleled domain knowledge and vast research experience. They offer some penetrating insights into the complex world of Phototherapy Market Industry. Their sweeping overview, comprehensive analyses, precise definitions, clear classifications, and expert opinions on applications, make this report nothing short of brilliant in its presentation and style. In terms of revenue, global phototherapy market was valued at USD 598.34 Mn in 2020 and it is anticipated to grow at a CAGR of 6.78% over the forecast period. The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.

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Phototherapy is a non-invasive medical treatment which has been deployed since 1958 and it involves exposure to fluorescent light bulbs or other light sources such as sunlight, halogen lights and light emitting diodes (LEDs) to treat various conditions including skin disorders, mood and sleep disorders, hyperbilirubinemia and jaundice amongst others. Natural sunlight has been considered useful in treating certain skin disorders for many years, and it is the ultraviolet part of the radiation which is produced by the sun that is used in phototherapy technique, in particular the ultraviolet A (UVA) and ultraviolet B (UVB) wavelengths of light. This technique can be either applied to a specific area or a part of the body, in cases where more than 5% of the skin is affected. There are different types of phototherapy techniques namely UVB (Narrow Band and Broad Band), PUVA (Psoralen + UVA), UVA1 amongst others that are being used to treat medical conditions, which is propelling the phototherapy market. For example, UVB is mainly used to treat common skin conditions namely psoriasis, polymorphic light eruption, atopic eczema, generalised itching, pityriasis lichenoides, lichen planus, cutaneous T cell lymphoma and vitiligo amongst others. PUVA is suggested for chronic plaque psoriasis in cases where UVB is not effective. It is also used in treating polymorphic light eruption, vitiligo and cutaneous T-cell lymphoma, as it is considered more potent compared to UVB.

The factors that are influencing the rising demand for phototherapy market include increasing incidences of neonatal hyperbilirubinemia, global skin diseases burden and rising cases of cancers amongst others. Skin disorders are ranked as the fourth common causes of disease worldwide. Approximately 7.5 million people are infected with psoriasis in the United States alone, mainly prevalent between the age group 45 and 64. Skin cancer is one of the most common diseases in the U.S., wherein melanoma is the most growing form of skin cancer. In 2019, 7,230 deaths were recorded due to melanoma cases out of which 4,740 were men and the rest women. Photodynamic therapy, which is a kind of phototherapy is used to treat a few forms of cancer and precancers. This technique uses a particular type of drug called as a photosensitizer in combination with light. Photosensitizers produce certain kind of active oxygen, when exposed to certain wavelengths enabling in killing nearby cells. Thus, this is creating huge growth opportunities for the global phototherapy market.

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The report provides both, qualitative and quantitative research of global phototherapy market, as well as provides comprehensive insights and development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analysed in the report. For each company, the report studies their global presence, competitors, service offerings and specification amongst others.

Some of the players operating in the phototherapy market are Atom Medical Corp, Daavlin, Drägerwerk AG & Co., GENERAL ELECTRIC COMPANY, Ibis Medical, National Biological Corporation, Natus Medical Incorporated, NeoMedLight, Philips Lighting Holding B.V., Phoenix Medical Systems (P) Ltd, Solarc Systems Inc. and Waldmann Group, amongst others.

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Global Phototherapy Market:

By Offering
• Products
o Portable
o Non-Portable
• Services

By Application
• Skin Disorders
o Psoriasis
o Vitiligo
o Eczema
o Scleroderma
o Others
• Mood and Sleep Disorders
o Seasonal Affective Disorder (SAD)
o Circadian Rhythm Sleep Disorders
• Cancers and Precancers
• Diseases in New Born Babies

By End-Use
• Home Users
• Hospital and Speciality Clinics
• Others

By Phototherapy Type
• UVB
o Broad Band UVB
o Narrow Band UVB
• PUVA
• UVA1
• Others

By Sales Channel
• Online
• Offline

By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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