Phototherapy Equipment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030

Phototherapy refers to the use of light to treat medical conditions. Phototherapy incorporates the use of ultraviolet rays, particularly UVA and UVB wavelength. Broadband UVB, narrowband UVB and PUVA (Psoralen + UVA) are the major UV forms used in phototherapy. UVB is used to treat skin diseases such as atopic eczema, psoriasis, vitiligo, generalised itching and other skin conditions. In cases where UVB is not effective, PUVA is used for treating atopic eczema and chronic plaque psoriasis. Phototherapy is commonly used for treatment of neonatal jaundice to reduce the elevated bilirubin level. Rising prevalence of skin disorders such as psoriasis, atopic eczema, vitiligo, increase in cases of newborns suffering from jaundice in both developed and developing countries, awareness about novel treatment technologies and their adoption play pivotal role in driving the growth of global phototherapy market.

The report titled Phototherapy Equipment Market - Growth, Future Prospects and Competitive Analysis, 2022 - 2030 offers strategic insights into the overall phototherapy equipment market along with the market size and estimates for the duration 2020 to 2030. The said research study covers in-depth analysis of multiple market segments based on type of device, application, and different geographies. The device types studied for analyzing the overall global phototherapy equipment market are majorly segmented into led-based phototherapy equipment, conventional phototherapy equipment (phototherapy equipment with compact fluorescent lamps and phototherapy equipment with fluorescent lamps), and fiberoptic phototherapy equipment. The global phototherapy equipment market is segmented by application type into skin disease treatment (psoriasis, eczema/atopic dermatitis and vitiligo, and other skin diseases), neonatal jaundice and others.

Along with quantitative information, qualitative information sets and assessment tools are provided in this study for better analysis of the overall market scenario and future prospects. Information such as market drivers, challenges and opportunities assists the readers for understanding the ongoing trends in the global phototherapy equipment market. Tools such as market positioning of key players, Porter’s five forces analysis and attractive investment proposition provide the readers with insights on the competitive scenario of the global phototherapy equipment market. This report concludes with company profiles section that highlights major information about the key players engaged in global phototherapy equipment market. In-depth competitive environment analysis and historical (2020) market size data are also provided in the report. Furthermore, this report concludes with profiling of key market players currently enjoying prominent position in the vascular grafts market. The key players profiled in this report are Atom Medical Corporation, Arjo huntlleigh, Inc., Herbert Waldmann GmbH & Co. Kg, Honle UV America, GE Healthcare, National Biological Corporation, Natus Medical Incorporated, Nice Neotech Medical Systems Pvt. Ltd., Philips Lighting Holding B.V., Phoenix Medical Systems Pvt. Ltd., Solarc Systems, Inc., The Daavlin Company and others.

In 2021, conventional phototherapy equipment held the largest market share. Conventional phototherapy is widely used device for skin disease such as psoriasis, acne, eczema, vitiligo treatment, that fuels the demand of phototherapy treatment. LED is considered to be technically superior method and clinically more effective for treatment of neonatal jaundice. Thus LED-based phototherapy segment is expected to grow at significant rate in the forecast period. Novel fibreoptic phototherapy equipment, that use optical fibres, is effective in reducing serum total bilirubin for neonates with jaundice.

Currently, skin disease treatment occupies a large share of the global phototherapy equipment market due to surge in prevalence of psoriasis, eczema, vitiligo and other skin conditions. Neonatal jaundice treatment is expected to be the fastest growing market that is commonly observed in newborns. According to National Center for Biotechnology Information (NCBI), around 60% to 80% of healthy newborns are likely to develop neonatal jaundice, thus propelling the demand for phototherapy treatment. Every year around 13 million babies suffer from jaundice out of which 9 million are from developing countries, thus developing countries forming lucrative market for phototherapy treatment.

In 2021, North America dominates the phototherapy market followed by Europe. Rising prevalence of skin diseases and neonatal jaundice, well-established healthcare infrastructure, favorable reimbursement scenario and availability of novel technologies play significant role in growth of phototherapy market. US occupies the largest market share of phototherapy North American market. Due to National Psoriasis Foundation (NPF) persuasive effort, Centers for Medicare and Medicaid Services (CMS) has uphold reimbursement rates cut for phototherapy, thus ensuring accessibility to affordable treatment to the psoriasis and other skin conditions patient. Most common skin problems observed in US teen is acne, which is one of the key factor driving the phototherapy market. Rising problem of acne, psoriasis has led to high adoption rate of phototherapy in Europe. Asia Pacific is anticipated to be the fastest growing market in the forecast period 2022-2030. The key factors driving the growth of Asia Pacific market are rising incidence of psoriasis, skin problems, neonatal jaundice, and availability of low cost phototherapy in emerging countries. Around 13 million newborns suffer from jaundice, out of which 9 million are from developing countries. Further with improving healthcare facility and awareness about advanced skin care treatment in emerging economies would further fuel the demand of phototherapy treatment.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Phototherapy Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Phototherapy Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Device

• Led-based Phototherapy Equipment
• Conventional Phototherapy Equipment
• Phototherapy Equipment with Compact Fluorescent Lamps
• Phototherapy Equipment with Fluorescent Lamps
• Fiberoptic Phototherapy Equipment

Application

• Skin Disease Treatment
• Psoriasis
• Eczema/Atopic Dermatitis
• Vitiligo
• Others
• Neonatal Jaundice
• Others

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Phototherapy Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2030.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Phototherapy Equipment market?
• Which is the largest regional market for Phototherapy Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Phototherapy Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Phototherapy Equipment market worldwide?

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