Global Phototherapy Equipment Databank Market Report

Global Phototherapy Equipment Databank Market Report

The Phototherapy Equipment market was valued at $358.2 Million in 2022, and is projected to reach $500.7 Million by 2031 growing at a CAGR of 3.83% from 2023 to 2031. LED Phototherapy Equipment segment is expected to be the highest contributor to this market, with $176.9 Million in 2022, and is anticipated to reach $231.0 Million by 2031, registering a CAGR of 3.04%. Fiber Optic Phototherapy Equipment segment is anticipated to reach $77.6 Million by 2031 with the highest CAGR of 5.29%. LED Phototherapy Equipment and Conventional Phototherapy Equipment segments collectively expected to account for about 86.3% share of the Phototherapy Equipment market in 2022, with the former constituting around 49.4% share. Fiber Optic Phototherapy Equipment and Conventional Phototherapy Equipment segments are expected to witness significant growth rates at a CAGR of 5.29% and 4.27% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 50.6% in the overall Phototherapy Equipment market in 2022, and is anticipated to reach 53.9% by 2031.