Phototherapy Equipment Market - Global Market Share, Trends, Analysis and Forecasts, 2022 - 2032
The global phototherapy equipment market size was estimated at USD 375 million in 2021 and is anticipated to expand at a CAGR of 4.3% between 2023 to 2032.
The report titled ‘Global Phototherapy Equipment Market - Growth, Share, Opportunities, and Competitive Analysis, 2022 - 2032’ offers strategic visions into the global phototherapy equipment market along with the market size (Revenue - US$ Bn and Volume - Units). The said research study covers in-depth analysis of multiple market segments based on type, application, end-user and study across different topographies. The report is also inclusive of competitive profiling of the leading phototherapy equipment vendors, and latest developments.
Phototherapy is the usage of light to treat vitiliogo, psoriasis and other skin disorders. Phototherapy equipment emits ultraviolet light in specific wavelength that makes changes in skin cells. The market for phototherapy equipment is expected to show sustainable growth due to its increasing application across dermatologist.
Huge frequency of skin diseases is leading to wide growth of phototherapy market. Skin diseases such as eczema, psoriasis and acne related issues are rising to a great level. According to one of the journal published by BioSpectrum in 2015, 10% to 12% of the total Indian population accounted suffering from skin diseases. Out of them, eczema and psoriasis were the key contributors. Ultraviolet rays and global warming, due to huge pollution are the main drivers responsible for high prevalence of such skin disorders. Other skin problems like acne are also rising at a faster pace, which is further driving the growth of phototherapy market. Phototherapy treatment is also very helpful for newborns who are suffering from jaundice. With the help of such phototherapy treatment, the neonates are open to the elements to fluorescent light, which help them recover at a faster rate. Jaundice occurrence among the newborns is widespread, however, if it continues for long then, doctors use phototherapy devices for treatment.
The global phototherapy equipment market is segmented on the basis of type, application, end-user and geography. Based on the type, the market is segmented into conventional phototherapy equipment (conventional phototherapy equipment with fluorescent lamps (full body phototherapy equipment and partial body phototherapy equipment) and conventional phototherapy equipment with compact fluorescent lamps), led-based phototherapy equipment and fiberoptic phototherapy equipment. Among these types, conventional phototherapy equipment is expected dominate the market. This growth is due to the huge application of these devices for psoriasis and eczema related skin diseases. On the basis of application, the global phototherapy equipment market is segmented into skin disease treatment and neonatal jaundice management. Skin disease treatment is sub segmented into psoriasis, vitiliogo, eczema and other skin diseases. The skin disease treatment segment is expected to account for the bigger share of the market in 2016. Based on end-user the market is segmented into hospitals & clinics and home users. Home users are expected to show lucrative CAGR over the forecast period owing to convenient usage of phototherapy equipment at home. By geography, the market is fragmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
North America comprises U.S., Canada and Mexico whereas Europe would primarily cover Germany, France, UK, Italy and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key segments whereas in Middle East & Africa, South Africa and Rest of MEA are the key segments covered in the report. Amongst the aforementioned regional segments in the global phototherapy equipment market, North America is expected to account for largest share in the global market in 2016. North America is followed by Europe and Asia Pacific. However, Asia Pacific registered as the fastest growing region in the phototherapy equipment market.
Some of the key players operating in the phototherapy equipment market with more significant product/service development include and are not limited to Philips Lighting Holding B.V.; GE Healthcare; Natus Medical Incorporated; Herbert Waldmann GmbH & Co. KG; Nice Neotech Medical Systems Pvt. Ltd.; Phoenix Medical Systems Pvt. Ltd., National Biological Corp.; nice Neotech Medical Systems Pvt. Ltd., Solarc Systems Inc. and Atom Medical Corporation among others.
- Conventional Phototherapy Equipment
- Led-based Phototherapy Equipment
- Fiberoptic Phototherapy Equipment
- Skin Disease Treatment
- Other Skin Diseases
- Neonatal Jaundice Management
- Hospitals & Clinics
- Home Users
- North America
- Asia Pacific
- Middle East & Africa
- South America