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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Phototherapy Equipment Market Outlook
The value of the global phototherapy equipment market was USD 574.29 million in 2023, driven by the rising adoption of home-based phototherapy devices and the increasing awareness about the benefits of phototherapy across the globe across the globe. The market is expected to grow at a CAGR of 5.20% during the forecast period of 2024-2032 to reach value of USD 906.30 million by 2032.
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Treatment with phototherapy is helpful for neonatal jaundice therapy. Neonates are subjected to fluorescent light in this therapy, which helps them recover more quickly. However, if jaundice persists for a long time among new-borns, physicians will use phototherapy equipment for treatment. Thus, the growing adoption of phototherapy to treat neonatal jaundice management is expected to drive the phototherapy equipment market.
Market Segmentation
Phototherapy equipment is used for the treatment of conditions like psoriasis and neonatal jaundice through phototherapy.
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The phototherapy equipment market can be divided on the basis of segments like device type, modality, application, and end-use.
The industry can be broadly categorised on the basis of its application into:
- Skin Disease Treatment
- Psoriasis
- Vitiligo
- Eczema
- Others
- Neonatal Jaundice Management
The phototherapy equipment market can be divided on the basis of its device type as conventional phototherapy equipment, LED-based phototherapy equipment, and fibreoptic phototherapy equipment. Based on modality, the industry can be divided into full-body and partial body phototherapy equipment. The industry can be divided on the basis of its end-use as hospitals and clinics and homecare.
The EMR report looks into the regional markets of the product like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific regions.
Market Analysis
There is currently an increasing demand for technologically sophisticated phototherapy equipment that is not only cost-effective but also efficient and provides characteristics that improve user safety. The main factor driving the market growth is the increasing incidences of skin diseases such as psoriasis, eczema, and acne. In the US, as reported by the American Academy of Dermatology, acne impacts almost 50 million individuals each year. It is also expected that the increasing instances of newborns with neonatal jaundice will boost the demand for this machinery in the future. It is also probable that constant technological advances will increase the market growth. For example, a non-profit design company, D-Rev, Design Revolution, implemented LEDs to treat neonatal jaundice.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global phototherapy equipment market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Philips Lighting Holding B.V.
- General Electric Company
- Natus Medical Inc.
- Waldmann Group
- Nice Neotech Medical Systems Pvt. Ltd.
- Phoenix Medical Systems Pvt. Ltd.
- National Biological Corporation
- Solarc Systems Inc.
- Atom Medical Corporation
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Device Type |
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| Breakup by Modality |
|
| Breakup by Application |
|
| Breakup by End User |
|
| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global phototherapy equipment market is estimated to grow at a CAGR of 5.20% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 906.30 million by 2032.
The major drivers of the market include the growing adoption of phototherapy for the treatment of neonatal jaundice, worldwide increase in the incidences of skin diseases, such as psoriasis, eczema, and acne, among others, and increasing demand for cost-effective, efficient, and technologically sophisticated phototherapy equipment.
The advancements in the medical sector and development of innovative technology such as LED-based phototherapy equipment are expected to be the key trends guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Conventional phototherapy equipment, LED-based phototherapy equipment, and fibreoptic phototherapy equipment are the major device types of the product in the market.
Full-body and partial body phototherapy equipment are the different modalities of the product in the market.
Skin disease treatment and neonatal jaundice management are the significant applications of the product in the market. The skin disease treatment segment is further divided into psoriasis, vitiligo, and eczema, among others.
Hospitals and clinics and homecare are the major end uses of the product in the market.
The major players in the industry are Philips Lighting Holding B.V., General Electric Company, Natus Medical Incorporated, Waldmann Group, Nice Neotech Medical Systems Pvt. Ltd., Phoenix Medical Systems Pvt. Ltd., Atom Medical Corporation, National Biological Corp., Solarc Systems Inc., Others.
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