Phototherapy devices play a crucial role in the treatment of neonatal jaundice, a common condition in newborns. These technologically advanced devices utilize light to oxidize bilirubin in the blood, reducing its levels and minimizing the need for exchange transfusions. Neonatal phototherapy devices are designed to be wrapped around the baby, with an hour meter to monitor treatment duration. As a result of their effectiveness and significant clinical benefits, these medical devices have become an integral part of neonatal care, driving the growth of the phototherapy market.
According to Data Bridge Market Research the Phototherapy Market accounted for USD 616.11 million in 2022, is expected to reach USD 938.40 million by 2030, at a CAGR of 5.4% during the forecast period 2023 to 2030.
“The growing demand for infrared light therapy for fine lines and wrinkles”
Infrared light therapy has demonstrated its efficacy in improving and reducing fine lines and wrinkles, making it a popular treatment option. The increasing number of individuals experiencing concerns related to fine lines and wrinkles is expected to drive the demand for infrared light therapy. The statistics from Pushups, LLC, revealing that 60% of Americans feel uncomfortable in their own skin due to wrinkles, further highlight the potential market growth. The adoption of LED-based phototherapy equipment is likely to rise as people seek effective solutions for their skin-related issues, contributing to the market's expansion in the forecast period.
What restraints the growth of phototherapy market?
“Rising side effects of phototherapy treatment”
The phototherapy market is facing a significant restraint due to the rising side effects associated with the treatment. Although phototherapy is known for its effectiveness in treating skin conditions, prolonged or improper use can result in adverse effects like skin irritation, redness, dryness, and increased sensitivity. These side effects can create hesitancy among potential users, leading to reduced adoption and hindering the overall growth of the phototherapy market.
Segmentation: Phototherapy Market
The phototherapy market is segmented on the basis of product, radiation, application and end-user.
- On the basis of product, the phototherapy market is segmented into conventional phototherapy equipment, led phototherapy equipment, fiberoptic phototherapy equipment, germicidal lamps and accessories
- On the basis of radiation, the phototherapy market is segmented into UVA, UVB, UVC
- On the basis of application, the phototherapy market is segmented into skin disease treatment, neonatal jaundice management, sterilization.
- On the basis of end-user, the phototherapy market is segmented into (hospital and clinic, dermatology center, homecare.
Regional Insights: North America Dominates the Phototherapy Market
North America dominates the phototherapy market due to various factors, including the rising prevalence of acne-related issues, the adoption of technologically advanced skincare treatment devices, the effectiveness of phototherapy compared to other methods, and the increasing use of LED-based equipment.
Asia-Pacific is expected to exhibit the highest growth rate due to increased awareness of advanced phototherapy, developing healthcare infrastructure, a higher incidence of neonatal jaundice, demand for cost-effective devices, and government focus in the region.
To know more about the study visit,https://www.databridgemarketresearch.com/reports/global-phototherapy-market
The Prominent Key Players Operating in the Phototherapy Market Include:
- Koninklijke Philips N.V. (Netherlands)
- Siemens Healthcare Private Limited (Germany)
- General Electric (U.S.)
- Analogic Corporation (U.S.)
- TOSHIBA CORPORATION (Japan)
- Hitachi, Ltd (Japan)
- C-RAD (Sweden)
- Elekta (Sweden)
- Accuray Incorporated (U.S.)
- Atom Medical Corp. (Japan)
- AVI Healthcare Private Limited (India)
- Weyer GmbH (Germany)
- Zhengzhou Dison Instrument and Meter Co., Ltd (China)
- Natus Medical Incorporated (U.S.)
- Ibis Medical (India)
Above are the key players covered in the report, to know about more and exhaustive list of phototherapy market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Phototherapy Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
