The global economic downtick has become worrisome for most companies in the Phototherapy Treatment market. Hence, companies are vying opportunities to gain competitive edge over other market players to capitalize on value-grab opportunities. Gain full access on our recently published report on the Phototherapy Treatment market that highlights how companies are adopting alternative business strategies to stay afloat during debilitating times.

Assessment of the Global Phototherapy Treatment Market

Market Research Reports Search Engine (MRRSE) recently published a report which provides a deep understanding of the various factors that are likely to influence the prospects of the Phototherapy Treatment market in the forecast period (20XX-20XX). The study takes into account the historical and current market trends to predict the course of the Phototherapy Treatment market in the upcoming years. Further, the growth opportunities, drivers, and major challenges faced by market players in the Phototherapy Treatment market are discussed in detail.

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Regional Outlook

The team of analysts at MRRSE, track the major developments within the Phototherapy Treatment sphere in various geographies. The market share, size, and value of each region are discussed in the report along with explanatory graphs, tables, and figures.

Competitive Outlook

This chapter of the report discusses the ongoing developments of leading companies operating in the Phototherapy Treatment market. The product portfolio, pricing strategy, the regional and global presence of each company is thoroughly discussed in the report.

Product Adoption Analysis

The report offers valuable insights related to the adoption pattern, supply-demand ratio, and pricing structure of each product.

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 patients 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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COVID-19 Outbreak Briefly Derails Phototherapy Treatment Market; Sales to Pick up Pace Once the Pandemic Begins to Recede - Cole of Duty