IMARC Group’s report titled “Phototherapy Equipment Market Report by Type (Conventional Phototherapy Equipment, LED Phototherapy Equipment, Fiberoptic Phototherapy Equipment), Application (Skin Disease Treatment, Neonatal Jaundice Management), End User (Hospitals and Clinics, Home Users), and Region 2024-2032”. The global phototherapy equipment market size reached US$ 907.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,327.5 Million by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.
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Factors Affecting the Growth of the Phototherapy Equipment Industry:
- Rising Prevalence of Skin Disorders:
The escalating demand for phototherapy equipment due to the increasing prevalence of skin disorders, such as psoriasis and eczema, among the masses across the globe is supporting the growth of the market. In addition, there is a rise in the need for phototherapy equipment as healthcare providers are seeking reliable solutions to address the growing patient population suffering from these conditions. Apart from this, the increasing awareness among individuals about these disorders is propelling the market growth. Furthermore, phototherapy equipment assists in improving patient care.
- Technological Advancements:
Innovation in phototherapy equipment technology benefits in enhancing treatment efficacy and patient outcomes, which is bolstering the market growth. In line with this, light-emitting diode (LED)-based devices offer improved energy efficiency and better wavelength control, optimizing therapeutic effects while minimizing potential side effects. Additionally, developments in narrow-band UVB therapy provide more targeted treatment for conditions like psoriasis. Besides this, the rising demand for advanced phototherapy solutions among healthcare providers seeking improved patient care is impelling the growth of the market.
- Increasing Incidences of Neonatal Jaundice:
The growing demand for phototherapy equipment on account of the rising incidences of neonatal jaundice is offering a positive market outlook. In addition, neonatal jaundice affects a large number of newborns worldwide, requiring prompt and effective treatment to prevent complications. Besides this, the increasing demand for phototherapy equipment in hospitals and neonatal care units is supporting the market growth. Furthermore, the rising awareness among healthcare professionals and parents about early disease detection and treatment is propelling the growth of the market.
Leading Companies Operating in the Global Phototherapy Equipment Industry:
- Atom Medical Corporation
- AVI Healthcare Private Limited
- General Electric Company
- Herbert Waldmann GmbH & Co. KG
- Ibis Medical Equipment & Systems Pvt Ltd
- Koninklijke Philips N.V.
- Narang Medical Limited
- National Biological Corporation
- Natus Medical Incorporated
- Nice Neotech Medical Systems Pvt. Ltd.
- Phoenix Medical Systems Pvt. Ltd.
- Solarc Systems Inc.
Phototherapy Equipment Market Report Segmentation:
By Type:
- Conventional Phototherapy Equipment
- Conventional Phototherapy Equipment with Fluorescent Lamp
- Conventional Phototherapy Equipment with Compact Fluorescent Lamp
- LED Phototherapy Equipment
- Fiberoptic Phototherapy Equipment
Conventional phototherapy equipment represents the largest segment as it utilizes fluorescent lamps for treating various skin conditions.
By Application:
- Skin Disease Treatment
- Psoriasis
- Vitiligo
- Eczema
- Others
- Neonatal Jaundice Management
Skin disease treatment holds the biggest market share on account of the rising focus on maintaining the overall health of individuals.
By End User:
- Hospitals and Clinics
- Home Users
Hospitals and clinics account for the largest market share due to the wide availability of specialized professionals.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys a leading position in the phototherapy equipment market, which can be attributed to the presence of a well-established medical infrastructure.
Global Phototherapy Equipment Market Trends:
The escalating demand for phototherapy due to the rising geriatric population across the globe is bolstering the market growth. Besides this, phototherapy serves as a valuable treatment option for various skin conditions.
Apart from this, the increasing focus on home-based healthcare solutions is impelling the market growth. Moreover, the rising demand for portable and user-friendly phototherapy equipment that patients can use in the comfort of their homes is propelling the market growth. Furthermore, stringent regulations and standards regarding the safety and efficacy of medical devices, including phototherapy equipment, ensure quality control and promote market growth by fostering trust among healthcare providers and patients.
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