Global Phototherapy Equipment Market 2019-2023| Rising Prevalence of Skin Disorders to Boost Demand| Technavio

November 13, 2018

LONDON--(BUSINESS WIRE)--Nov 13, 2018-- analysts forecast the global phototherapy equipment market to grow at a CAGR of over 5% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.

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Technavio analysts forecast the global phototherapy equipment market to grow at a CAGR of over 5% by 2023. (Graphic: Business Wire)

The growing use of phototherapy equipment in cancer treatment is one of the major trends being witnessed in the . Cancer is among the top five causes of death across the world. According to, Cancer Research UK, in 2012, 14.1 million new cases of cancer were recorded globally, with 8.2 million deaths due to the disease. Many early-stage cancers can be cured by surgery, but a major obstacle in the treatment of cancers is the delay in diagnosis in low and middle-income countries. However, doctors have analyzed the power of light as a tool in the treatment of cancer. Thus, the use of phototherapy is increasing its adoption in the treatment of cancer. This is expected to require phototherapy equipment, and in turn, is expected to drive the growth of the market during the forecast period.

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According to Technavio analysts, one of the key factors contributing to the growth of the global phototherapy equipment market is the rising prevalence of skin disorders:

Global phototherapy equipment market: Rising prevalence of skin disorders

Skin acts as a barrier to the entry of contaminants such as chemicals, and skin disorders disturb this barrier function. Allergies, irritants, aberrations in the genetic makeup, and lack of immunity result in skin disorders. Phototherapy is one of the ways to treat skin disorders. The phototherapy equipment emits specific wavelengths of light such as narrow-band UVB to treat skin disease. It is the most common method of treatment and is highly effective. The rising prevalence of skin disorders leads to the increasing adoption of phototherapy, in turn, fostering the demand for phototherapy equipment.

According to a senior analyst at Technavio, “It is estimated that each day, approximately 9,500 people in the US are diagnosed with skin cancer. The most common type of skin diseases are eczema and psoriasis. These diseases cause skin irritation and inflammation, that produces thick red plaques covered with a silvery buildup of dead skin. In the Americas, 5%-6% of the population was diagnosed with psoriasis in 2016.”

Global phototherapy equipment market: Segmentation analysis

The global phototherapy equipment market research report provides market segmentation by end-user (healthcare and homecare), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The Americas held the largest share of the market in 2018, accounting for more than 41% share. It was followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the increased presence of vendors and end-users in the region. The colder areas of North America such as Alaska and North Dakota are the major revenue contributors to the market.

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Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

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SOURCE: Technavio Research

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PUB: 11/13/2018 10:46 AM/DISC: 11/13/2018 10:46 AM


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