Phototherapy Equipment Market 2016 Share, Trend and Forecast Phototherapy Equipment Market - Global Industry An | Page 2

Based on modality, the phototherapy equipment market is segmented into full body
phototherapy and partial body phototherapy. Of these, the full body phototherapy
segment accounted for the leading market share of 57.5% in 2015. The rising
incidence of neonatal jaundice and advent of advanced technologies enabling the
development of cost effective devices have enabled growth in the segment. In
terms of disease indication, the neonatal jaundice segment emerged dominant in
the market. The increasing incidence of preterm birth, augmenting the cases of
glucose-6-phosphate deficiency has fuelled the demand for phototherapy
equipment.
By end user, hospitals constituted the leading segment with a share of 47.4% in the
market in 2015. Through the course of the forecast period, the segment’s
dominance in the market is expected to remain intact as people prefer the
organized hospital setting more for treatment and surgical purposes. Also favorable
reimbursement policies for hospital treatments also encourage patients to choose
hospitals over other end users.
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High Degree of Awareness to Seal North America’s Lead in Global Market
Regionally, the global phototherapy equipment market is segmented into North
America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In
2015, North America emerged as the leading regional segment holding nearly 40%
of the global phototherapy equipment market. The dominance of the region is
attributed by several factors such as the rising prevalence of neonatal jaundice and
skin diseases. Besides this, overall the region boasts high level of awareness and
sophisticated healthcare infrastructure. These, coupled with various initiatives by
governments to ensure better health in new born, have tipped the scales in favor of
the phototherapy equipment market in North America.
Besides this, the market players are also expected to witness lucrative opportunities
in Asia Pacific. The rising preterm birth in developing nations and investment in
upgrading distribution channels provide attractive opportunities for the
phototherapy equipment market in the region.
On account of its diverse product portfolio and extensive global presence, GE
Healthcare emerged dominant the global phototherapy equipment market in 2015.
The other major players in the phototherapy equipment market are – Atom Medical
Corporation, Herbert Waldmann GmbH & Co. KG, Drägerwerk AG & Co. KGaA,
National Biological Corp., Solarc Systems Inc., The Daavlin Company, and Phoenix
Medical Systems Pvt. Ltd, nice Neotech Medical Systems Pvt. Ltd., Natus Medical
Incorporated and others.