Assessment of the Global Phototherapy Treatment Market
The recent study on the Phototherapy Treatment market is a comprehensive analysis of the various parameters that are likely to influence the growth of the Phototherapy Treatment market. The historical and current market trends are taken into consideration while predicting the future prospects of the Phototherapy Treatment market. Further, the study introspects the major trends that are likely to impact the growth of the Phototherapy Treatment market during the forecast period, 20XX-20XX.
The investors, stakeholders, emerging and established players can leverage the data included in the report to develop impactful growth strategies and improve their position in the current Phototherapy Treatment market landscape. The report provides a thorough assessment of the micro and macro-economic factors that are expected to impact the growth of the Phototherapy Treatment market.
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The competitive assessment section provides insights related to the developments made by leading players in the Phototherapy Treatment market in terms of product development, mergers, collaborations, and more. The product portfolio of each company is evaluated along with its pricing structure and marketing strategies.
The regional assessment chapter of the report offers an in-depth understanding of the growth prospects of the Phototherapy Treatment market across different geographies such as:
The adoption pattern of the Phototherapy Treatment across various end-use industries is highlighted in the report and represented using informative graphs, figures, and tables. The different end-use industries studied in the report include:
Family physicians are playing a crucial role in diagnosing psoriasis in Canada
In Canada, the majority of the psoriasis patients are mainly diagnosed by family physicians rather than by dermatologists. The reason behind this is the lack of dermatologists and related services in Canada. For instance, according to a report published by the Economist Intelligence Unit, Canada had less than 2 dermatologists per 100,000 individuals in 2015, which is very less when compared with European countries. It has also been observed that family physicians typically prefer topical therapies than biologics/phototherapy to treat psoriasis conditions, while dermatologists prefer phototherapy more than the other available therapies/medications. This recent trend is boosting the phototherapy segment. While in the U.S. the growing population of adult women suffering from acne and psoriasis is an important factor driving revenue growth of the phototherapy segment. The population of adult women is rising with higher rates in North America than in European countries such as Germany, Italy, France and Spain. The growth in women adult acne conditions in North America is mainly due to increase in male hormonal (androgens) levels in females.
Complementary therapies to treat psoriasis conditions and combination therapies are recent trends in Western Europe, which are creating a positive impact on the phototherapy segment in the regional market
Complementary therapies such as balneotherapy along with UV radiation is quite popular in Western European countries. Balneotherapy is the oldest treatment method available to treat the psoriasis condition. In this treatment, the patient undergoes a bath in high mineralized brine, which causes a mechanical removal of skin scales and increases the sensitivity of skin to UV radiation. Combination therapies are set to witness high potential in austerity driven markets in Europe as noted by many clinic managers. Faltering out-of-pocket expenses for a service that is considered as a desire or luxury coupled with a tricky pricing of combination treatments involving a device and a drug are factors successfully helping in generating revenue in the market. This trend is very prominent in countries such as the U.K. and Spain.
Approved by the FDA to treat acne and psoriasis, blue light therapy dominates the North America and Europe phototherapy treatment market
By phototherapy type, blue light therapy dominated the North America and Europe phototherapy treatment market for psoriasis and acne, and is expected to be the most lucrative segment over the forecast period, with a market attractiveness index of 3.3. By the end of 2027, the blue light phototherapy segment is projected to reach more than US$ 1,000 Mn, expanding at a CAGR of 6.7% over the forecast period. Revenue from the Narrowband UVB phototherapy segment in the North America and Europe phototherapy treatment market for psoriasis and acne is expected to grow 1.9x by 2027 end as compared to that in 2017. The Red Light Phototherapy and Intense Pulsed Light (IPL) Phototherapy segments represent the lowest market attractiveness index of 0.3 each.
Availability of various treatments for acne and psoriasis and declining reimbursement rates are expected to hamper the growth of the phototherapy segment
Various treatments are currently available in the market to treat acne and psoriasis conditions. For instance, to treat acne conditions various drugs are available in the market such as topical/oral antibiotics and retinoid and chemical peels, among others. Due to a lot of available treatment options, physicians prescribe different treatments according to the patient’s skin nature and availability of drugs. Owing to the many treatment options, very few physicians prescribe phototherapy to patients. Furthermore, availability of non-office based treatments to treat acne and psoriasis conditions has a negative impact on the growth of the phototherapy segment. Furthermore, the decline of reimbursement pay and lack of adequate phototherapy units in the market are projected to hamper revenue growth of the phototherapy segment over the forecast period.
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Valuable Market Insights Included in the Report
- Recent collaborations, mergers, acquisitions, and partnerships
- Revenue growth of the Phototherapy Treatment market over the assessment period
- Value chain analysis of prominent players in the Phototherapy Treatment market
- Regulatory framework across different regions impacting the Phototherapy Treatment market trajectory
- Recent technological advances and innovations influencing the Phototherapy Treatment market
The report addresses the following queries related to the Phototherapy Treatment market
- How have the production techniques evolved in recent years?
- How can the emerging players in the Phototherapy Treatment market establish their foothold in the current Phototherapy Treatment market landscape?
- The market in which region is expected to witness the highest growth during the forecast period?
- What is the projected value of the Phototherapy Treatment market in 2019?
- How can the emerging players in the Phototherapy Treatment market solidify their position in the Phototherapy Treatment market?
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