VALLEY COTTAGE, New York, July 12, 2017 /PRNewswire/ --
In the U.S., acne is one of the most common skin disorders among the teenage population. While topical or oral antibiotics remain the first-line treatment, more advanced therapies are chosen if the condition becomes severe. Increasing resistance of Propionibacterium acnes to standard medications has surfaced as a major concern for both physicians and patients. Therefore, physicians are required to consider other treatment modules that are capable of delivering quicker and more positive results.
Phototherapy has emerged as an effective and contemporary treatment module for acne and psoriasis, which is gaining healthy popularity of late. As compared to biologics, phototherapy is more affordable having a similar credibility. Over the next couple of years, demand for phototherapy in regions such North America and Europe is expected to surge to a significant extent. Future Market Insights' new report reveals that the North America and Europe phototherapy treatment market revenue is expected to expand at a CAGR of 6.0 % over the forecast period (2017-2027).
Distorted eating habits, as well as excessive consumption of fried and ready-to-eat food items, are linked with the early onset of acne in children. Meanwhile, in adults, women face severe acne and psoriasis onset. The report titled "Phototherapy Treatment Market for Acne and Psoriasis North America and Europe Industry Analysis 2012 - 2016 and Opportunity Assessment; 2017 - 2027" also cites that North America represents the most lucrative market for phototherapy, followed by Western Europe and Eastern Europe. The market in North America is projected to grow from US$ 594.5 Mn in 2016 to US$ 1,150.0 Mn by 2027-end. In addition, the U.S. currently accounts for more than three-fourth revenue share of the North America phototherapy treatment market.
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Increasing adoption of phototherapy in dermatology clinics and hospitals in Europe is favouring the growth of the market in the region. Moreover, psychological burdens associated with acne and psoriasis is high in the region, compelling patients to seek professional help in the form of prescription treatments, phototherapy, and others. Germany and the UK are two of the major markets for phototherapy in Europe and expected to remain dominant throughout the forecast period.
Key Excerpts from the Report Include:
- Based on end user, hospitals currently account for the largest value share of the phototherapy treatment market for acne and psoriasis in North America and Europe. However, preference for home care settings among patients is likely to grow in the near future.
- Demand for blue light therapy is relatively higher than other phototherapy types in both North America and Europe. This trend is expected to continue throughout the assessment period. The blue light phototherapy segment is estimated to reach a market valuation of US$ 1,067.1 Mn towards the end of 2027.
Preview Analysis on North America and Europe Phototherapy Treatment Market Segmentation By Disease Type - Psoriasis, Acne; By Phototherapy Type - Blue Light Phototherapy, Red Light Phototherapy, Intense Pulsed Light (IPL) Phototherapy, Narrowband UVB Phototherapy, Psoralens+Ultravioletlight A (PUVA) Phototherapy; By End User - Hospitals, Dermatology Clinics/Skin Care Centres, Wellness Centres, Home Care Settings: http://www.futuremarketinsights.com/reports/north-america-and-europe-phototherapy-treatment-market
Phototherapy being a high margin reconstructive technology is perceived as an opportunity for market players to invest in future growth. Lifespan, UC Irvine Health, Buffalo Medical Group, Blackrock Clinic Limited, The Private Phototherapy Clinic Ltd, National Skin Centre, and Massachusetts General Hospital are some of the leading companies profiled in the FMI report.
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SOURCE Future Market Insights