Phototherapy Equipment Market to Post 4.5% CAGR through 2021, Forecasts MarketsandMarkets in Its Topical Report Available at MarketPublishers.com16 Nov 2016 • by Natalie Aster
LONDON – Driven by a big number of low-weight and preterm birth babies in both developing and developed countries, inflow of technologically advanced products, increasing number of patients suffering from skin diseases, enhancing awareness in developing countries and also increasing number of NICU admissions, the world’s phototherapy equipment market is gaining traction at a healthy rate. The value of this market is poised to see growth at a 4.5% CAGR, and by the year 2021 will likely reach USD 583.4 million. However, the phototherapy equipment market growth could be restrained by declining birth rate in certain developed countries and poor access to proper neonatal care in emerging regions.
The LED-based phototherapy equipment segment (on the basis of type) will likely see remarkable growth in the offing, encouraged by increasing LED-based phototherapy equipment adoption primarily owing to its cost effectiveness and efficacy in comparison to conventional phototherapy equipment.
The North American region commands the major share of the world’s phototherapy equipment market. It is followed by Europe.
The neonatal jaundice segment (on the basis of application) is predicted to enjoy the highest CAGR through 2021. Robust growth in this segment will likely be driven by increasing number of low-weight and preterm, escalating incidence of neonatal jaundice and also enhancing adoption of low-cost phototherapy equipment.
Topical research publication titled “Phototherapy Equipment Market by Type, Application, End-user, Geography - Global Forecast to 2021“ elaborated by MarketsandMarkets gives profound insights into the world phototherapy equipment market, gives access to important info on the market performance both present and historical, examines the major growth driving and limiting factors, and also presents a detailed market segmentation analysis. It explores the competitive landscape, reviews the key participants and also outlines lucrative future growth prospects and contains all-round forecasts through 2021.
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