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Phototherapy Equipment Market to Reach a Value of US$ 603.2 Mn by 2024

The global phototherapy equipment market is highly competitive in nature and is expected to witness an increased level of competition throughout the forecast period, states a new research report by Transparency Market Research. The leading players in the market, namely Drägerwerk AG & Co. KGaA, Herbert Waldmann GmBH & Co. KG, Phoenix Medical Systems Pvt. Ltd, Natus Medical Incorporated, GE Healthcare, Atom Medical Corporation, and The Daavlin Company are emphasizing on research and development activities in order to lunch new products in the coming years. In addition, these players are entering into collaborations with end users and provide them support in the form of insurance reimbursement, equipment refurbished services, and post-sale services in order to maintain their position and penetration in the phototherapy equipment market in the coming years.

Report Summary: https://www.transparencymarketresearch.com/phototherapy-equipment-market.html

According to the research study by Transparency Market Research, in 2015, the global market for phototherapy equipment was worth US$415.0 mn. The market is estimated to reach a value of US$603.2 mn by the end of 2024 and register a healthy growth of 4.40% CAGR between 2016 and 2024.

Among the key segments, North America is expected to witness a high growth in the global phototherapy equipment market in the next few years. In 2015, North America held a share of 40% of the global market and is expected to maintain its dominance throughout the forecast period. The high growth of this region can be attributed to the increasing prevalence of neonatal jaundice and other skin diseases. In addition to this, the rising awareness among consumers regarding the availability of advanced treatments and improved healthcare services are estimated to accelerate the growth of the North America market in the next few years. Furthermore, Asia Pacific is likely to experience a significant growth in the coming years.

Report Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18065

From the end user perspective, the hospital segment is estimated to register a progressive growth rate throughout the forecast period. In 2015, this segment held a share of 47% of the global market in terms of revenue and is likely to maintain its position in the coming years. The increasing consumer preference for hospitals and the favorable reimbursement policies are the key factors that are projected to encourage the growth of the hospital segment in the global phototherapy equipment market in the near future.

The increasing cases of neonatal jaundice and the rising number of low-weight and preterm birth are projected to accelerate the market growth. In addition, the advent of technologically advanced phototherapy equipment and the spending capacity of patients are likely to offer promising growth opportunities for the market players. On the flip side, the stringent government regulations and the rising use of alternative treatments are estimated to restrict the growth of the overall market in the next few years. Nonetheless, the development of low-cost phototherapy equipment is expected to encourage the growth of the global market in the next few years.

Report PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=18065

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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on June 19 at 5:09

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