Summary
Market Overview:
The global phototherapy equipment market size reached US$ 865.7 Million in 2022. Looking forward, the analyst expects the market to reach US$ 1,153.5 Million by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.
Phototherapy refers to a treatment method in which the patient is exposed to outdoor natural or indoor artificial light sources for treating various disorders, including jaundice, psoriasis, and vitiligo. The procedure comprises radiant warmers, oxygen hood, jaundice meter, transcutaneous bilirubin meter, and other fiberoptic phototherapy devices as some of the common tools. They are usually used in conjunction with overhead halogen and light-emitting diode (LED) systems to reduce sun damage to the skin, stretch marks, and wrinkles while enhancing facial texture and promoting wound healing. Currently, there is a growing demand for cost-effective, technologically advanced phototherapy equipment with enhanced user safety.
Phototherapy Equipment Market Trends:
The global phototherapy equipment market is primarily driven by the increasing prevalence of neonatal jaundice and various other dermatological ailments, such as eczema, acne, hives, and rosacea. Phototherapy devices are extensively utilized in procedures for treating bilirubin toxicity and reducing bilirubin serum concentration while significantly reducing the need for frequent blood transfusions. This is further supported by the growing demand for sophisticated advanced phototherapy devices and escalating awareness regarding their easy availability. In line with this, the extensive healthcare expenditure, the rapid development of low-cost product variants, and the rising adoption of home phototherapy for self-treatment of skin diseases are acting as other major growth-inducing factors. Additionally, the introduction of intelligent LED-equipped phototherapy equipment to reduce inflammation, stimulate collagen production, and rejuvenate the skin is contributing to the market growth. Moreover, the extensive utilization of phototherapy for eliminating mild allergic reactions caused by variation in blood composition and infection is propelling the market growth. Other factors, such as significant improvements in the healthcare infrastructure, strategic collaborations amongst key players, and continuous research and development (R&D) activities to introduce enhanced phototherapy equipment and expand their applications, are creating a positive outlook for the market.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global phototherapy equipment market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application and end user.
Breakup by Type:
Conventional Phototherapy Equipment
Conventional Phototherapy Equipment with Fluorescent Lamp
Conventional Phototherapy Equipment with Compact Fluorescent Lamp
LED Phototherapy Equipment
Fiberoptic Phototherapy Equipment
Breakup by Application:
Skin Disease Treatment
Psoriasis
Vitiligo
Eczema
Others
Neonatal Jaundice Management
Breakup by End User:
Hospitals and Clinics
Home Users
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Atom Medical Corporation, AVI Healthcare Private Limited, General Electric Company, Herbert Waldmann GmbH & Co. KG, Ibis Medical Equipment & Systems Pvt Ltd, Koninklijke Philips N.V., Narang Medical Limited, National Biological Corporation, Natus Medical Incorporated, Nice Neotech Medical Systems Pvt. Ltd., Phoenix Medical Systems Pvt. Ltd. and Solarc Systems Inc.
Key Questions Answered in This Report:
How has the global phototherapy equipment market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global phototherapy equipment market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global phototherapy equipment market and who are the key players?
What is the degree of competition in the industry?
