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Global Phototherapy Market – Industry Trends and Forecast to 2030

  • Medical Devices
  • Upcoming Report
  • Dec 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Phototherapy Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 5.4% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 616.11 Million
Diagram Market Size (Forecast Year) USD 938.40 Million
Diagram CAGR 5.4%

Global Phototherapy Market, By Product (Conventional Phototherapy Equipment, LED Phototherapy Equipment, Fiberoptic Phototherapy Equipment, Germicidal lamps and Accessories), Radiation (UVA, UVB, UVC), Application (Skin Disease Treatment, Neonatal Jaundice Management, Sterilization), End-User (Hospital and Clinic, Dermatology Center, Homecare) – Industry Trends and Forecast to 2030.

 Phototherapy Market Analysis and Size

According to the National Psoriasis Foundation, psoriasis affects approximately 125 million people worldwide, accounting for approximately 2-3% of the total population. Similarly, the National Eczema Association estimates that approximately 31.6 million people in the United States suffer from eczema. According to a similar source, one out of every ten people will develop eczema at some point in their lives. The rising prevalence of skin diseases is the key factor driving the market growth.

Data Bridge Market Research analyses that the phototherapy market which is 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. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Phototherapy Market Scope and Segmentation  

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Product (Conventional Phototherapy Equipment, LED Phototherapy Equipment, Fiberoptic Phototherapy Equipment, Germicidal lamps and Accessories), Radiation (UVA, UVB, UVC), Application (Skin Disease Treatment, Neonatal Jaundice Management, Sterilization), End-User (Hospital and Clinic, Dermatology Center, Homecare)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

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.) and Ibis Medical (India)

Market Opportunities

  • Growing prevalence of skin disorders

Market Definition

Phototherapy devices are technologically advanced tools that have demonstrated efficacy in clinical settings. They are used to treat jaundice in infants. Irradiating the newborn with light that oxidises the bilirubin in the blood is another method used to help treat hyperbilirubinemia. They protect the brain from the neurotoxic effects of high serum unconjugated bilirubin levels and reduce the number of exchange transfusions required by newborns. They are wrapped around the baby and have an hour metre to track how long the bulb will last and how long the child will be treated. Neonatal phototherapy devices are medical devices used in the treatment of neonatal jaundice.

Phototherapy Market Dynamics

Drivers

  • Rising usage of Phototherapy

Infrared light therapy has been shown in studies to improve and reduce fine lines and wrinkles. The growing number of people with fine lines and wrinkles is expected to help the segment grow. According to Pushups, LLC, approximately 60% of Americans do not feel comfortable in their own skin due to wrinkles and other skin-related issues. This could increase the use of LED-based phototherapy equipment, driving the growth of market during the forecast period.

Opportunities

  • Growing prevalence of skin disorders

The growing prevalence of skin disorders is expected to drive phototherapy market growth over the next five years. Skin serves as a barrier to the entry of contaminants such as chemicals, and skin disorders disrupt this vital function. Irritating factors, allergies, genetic abnormalities, and a lack of immunity are the most common causes of skin disorders. Every day, approximately 9,500 people in the United States are diagnosed with skin disorders, which is expected to increase demand for phototherapy during the next five years.

Restraints/Challenges

  • Side effects associated with phototherapy treatment

Rising side effects of phototherapy treatment, increased use of alternative modes of treatment, and stringent FDA regulatory policies for the approval of new devices are among the major factors acting as restraints, while an increasing trend of purchasing refurbished phototherapy equipment in emerging markets and limited adoption of phototherapy equipment in developing nations will further challenge the growth of the phototherapy market in the forecast period.

This phototherapy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the phototherapy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Phototherapy Market

The COVID-19 pandemic had a slight negative impact on the phototherapy market. However, with various strategic initiatives undertaken by market participants, the phototherapy equipment market is expected to grow in the post-COVID-19 pandemic period. Market participants are involved in initiatives such as product launches, geographic expansions, and mergers and acquisitions. For instance, GlobalMed Technologies, will launch the 'Omnilux Contour' home use product in December 2020. Furthermore, the company launched a new online store for all of its products, which was expected to help the company gain market share during and after the COVID-19 pandemic.

Global Phototherapy Market Scope

The phototherapy market is segmented on the basis of product, radiation, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Conventional Phototherapy Equipment
  • LED Phototherapy Equipment
  • Fiberoptic Phototherapy Equipment
  • Germicidal lamps and Accessories

 Radiation

  • UVA
  • UVB
  • UVC

 Application

  • Skin Disease Treatment
  • Neonatal Jaundice Management
  • Sterilization

End-User

  • Hospital and Clinic
  • Dermatology Center
  • Homecare

Phototherapy Market Regional Analysis/Insights

The phototherapy market is analyzed and market size insights and trends are provided by country, product, radiation, application and end-user as referenced above.

The countries covered in the phototherapy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the phototherapy market due to rising prevalence of acne related problems, rising adoption rate for technologically advanced skincare treatment devices, rising effectiveness of phototherapy over other treatment methods and increasing adoption of Led-based phototherapy equipment in this region.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of increased awareness of advanced phototherapy and developing healthcare infrastructure, there has been an increase in the incidence of neonatal jaundice and demand for cost-effective devices, as well as an increase in the focus of governments in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The phototherapy market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for phototherapy market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the phototherapy market. The data is available for historic period 2011-2021.

Competitive Landscape and Phototherapy Market Share Analysis

The phototherapy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to phototherapy market.

Some of the major players operating in the phototherapy market are:

  • 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)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The phototherapy market value was USD 616.11 million in 2022.
The phototherapy market is projected to grow at a CAGR of 5.4% during the forecast period of 2023-2030.
The Phototherapy Market is segmented by product, radiation, application, and end-user.
North America dominates the phototherapy market given the rising prevalence of acne-related problems, the rising adoption rate for technically sophisticated skincare treatment devices, the rising effectiveness of phototherapy over other treatment methods, and the increasing adoption of Led-based phototherapy equipment in this region.
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