Global LED Phototherapy Equipment Market By Product Type (Portable LED Lamps, Bed Type LED Lamps, Neonatal Incubators with LED Lamps), Application (Skin Disease Treatment, Neonatal Jaundice Management), Modality (Full Body Phototherapy, Partial Body Phototherapy), End-Use (Hospitals & Clinics, Homecare), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global LED Phototherapy Equipment Market
Global LED phototherapy equipment market is expected to register a substantial CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the high levels of adoption associated with LED phototherapy equipment due to its effectiveness, along with high incidences of pre-term births.
Market Definition: Global LED Phototherapy Equipment Market
LED phototherapy equipment is a type of medical device designed for delivering phototherapy therapeutic system with the help of light emission through LED lamps. These devices help in enhancing the focus and amount of energy emitted from these devices as compared to conventional methods of phototherapy. Majorly phototherapy devices are used for the skin treatments or for management of jaundice in infants, as it is a non-invasive and safe mode of treatment.
- Increasing prevalence of skin disorders and other diseases wherein the usage of phototherapy equipment is high; this factor is expected to fuel the growth of the market
- High incidences of infants suffering from jaundice; this factor is expected to fuel the market growth
- Innovations and launches associated with advanced technology integration in these products acts as a market driver
- Greater focus on research & development activities, promoted by government organizations and manufacturers can also propel the market growth
- Concerns regarding a number of manufacturers and authorities issuing product recalls for phototherapy equipment; this factor is expected to restrict the growth of the market
- Strict regulatory presence regarding the product approvals acts as a market restraint
- Presence of alternate modes/methods of various disorders resulting in lack of adoption for these devices can hamper the market growth
Segmentation: Global LED Phototherapy Equipment Market
By Product Type
- Portable LED Lamps
- Bed Type LED Lamps
- Neonatal Incubators with LED Lamps
- Skin Disease Treatment
- Eczema/Atopic Dermatitis
- Neonatal Jaundice Management
- Full Body Phototherapy
- Partial Body Phototherapy
- Hospitals & Clinics
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In February 2019, Natus Medical Incorporated issued a statement concerning the product recall commercialized during the period of 2011-2016, March 21. The products sold after this period are upgraded and not affected with the potential discoloration associated with the defective products. The device for which the recall issued is branded as “neoBLUE blanket LED Phototherapy System”
- In January 2015, Phoenix Medical Systems (P) Ltd. announced the launch of an LED-based phototherapy medical device for the treatment of jaundice in infants. Equipped with a variety of features providing consistent focus of lighting for infants and a smart meter for the monitoring and measurement of intensity. The product will be available for USD five hundred dollars globally
Global LED phototherapy equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of LED phototherapy equipment market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global LED phototherapy equipment market are Signify Holding; GENERAL ELECTRIC COMPANY; Natus Medical Incorporated; H. Waldmann GmbH & Co. KG; nice Neotech Medical Systems Pvt. Ltd.; Phoenix Medical Systems (P) Ltd.; Atom Medical Corp.; National Biological Corp.; Solarc Systems Inc.; gpcmedical.com; Meditrin Instruments; avihealthcare; S S TECHNOMED(P)LTD; Dermalux LED; Ibis Medical; MTTS; The Daavlin Company and Drägerwerk AG & Co. KGaA among others.
Research Methodology: Global LED Phototherapy Equipment Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global LED phototherapy equipment market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)