Global Phototherapy Equipment Market Size Study, by Type (Convectional Phototherapy Equipment, LED Phototherapy Equipment, Fiberoptic Phototherapy Equipment), by End User (Hospitals & Clinics, Home Users), by Application (Skin Disease Treatment, Neonatal

Global Phototherapy Equipment Market Size Study, by Type (Convectional Phototherapy Equipment, LED Phototherapy Equipment, Fiberoptic Phototherapy Equipment), by End User (Hospitals & Clinics, Home Users), by Application (Skin Disease Treatment, Neonatal Jaundice Management), and Regional Forecasts 2022-2032

The global phototherapy equipment market was valued at approximately USD 397.59 million in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 4.0% over the forecast period from 2024 to 2032. Phototherapy equipment, which emits specific wavelengths of light, plays a crucial role in treating various medical conditions. It is especially significant in the management of neonatal jaundice, where blue light helps break down excess bilirubin in newborns. Moreover, phototherapy is widely utilized in dermatology to treat conditions such as psoriasis, eczema, and vitiligo by either slowing skin cell growth or reducing inflammation. The treatment's non-invasive nature and proven efficacy make phototherapy equipment an essential component in modern healthcare.

The market is driven by several key factors, including the rising prevalence of neonatal jaundice, which necessitates the use of phototherapy as a primary treatment method. The global increase in birth rates, particularly in developing regions with limited healthcare infrastructure, further fuels the demand for effective phototherapy solutions. Technological advancements, such as the development of LED-based phototherapy devices, have greatly enhanced treatment efficacy, patient safety, and device longevity. These innovations not only make phototherapy more attractive to healthcare providers but also contribute to the market's expansion. Additionally, growing awareness about the benefits of phototherapy and increased healthcare expenditure are further propelling market growth.

The global phototherapy equipment market also presents substantial opportunities, particularly in emerging markets across Asia, Africa, and Latin America. These regions are witnessing improvements in healthcare infrastructure and rising disposable incomes, leading to increased access to phototherapy treatments. Moreover, the trend toward home-based healthcare is driving the demand for portable and easy-to-use phototherapy devices, catering to patients who prefer treatment in the comfort of their homes. Despite these growth drivers, the market faces challenges, particularly in developing regions where the high cost of advanced phototherapy equipment and limited access to healthcare facilities can hinder market penetration. Additionally, the lack of trained personnel to operate these devices further restricts widespread adoption in these areas.

In terms of regional analysis, North America dominated the market in 2023, accounting for the largest revenue share of 39.0%. This dominance is attributed to the high prevalence of various skin conditions such as vitiligo, psoriasis, eczema, and acne. On the other hand, the Asia-Pacific region is expected to register the fastest CAGR of 5.6% during the forecast period, driven by an increase in pre-term births and a rising number of individuals suffering from skin disorders.

Major market players included in this report are:

Signify Holding

GE Healthcare

Natus Medical Incorporated

Hebert Waldmann GmbH & Co. KG

Nice Neotech Medical Systems Pvt. Ltd.

Atom Medical Corporation

Phoenix Medical Systems Pvt. Ltd.

National Biological Corp.

Solarc Systems Inc.

The Daavlin Company

The detailed segments and sub-segment of the market are explained below:

By Type:
• Convectional Phototherapy Equipment
• LED Phototherapy Equipment
• Fiberoptic Phototherapy Equipment

By End User:
• Hospitals & Clinics
• Home Users

By Application:
• Skin Disease Treatment
• Neonatal Jaundice Management

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico
• RoLA

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:
• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.