The global phototherapy equipment market accounted for USD 398.6 million in 2023 and is expected to reach at USD 630.0 million by 2034 with a CAGR of 4.25% during the forecast period 2024-2034. Increasing incidence of skin diseases & neonatal jaundice cases, surge in the availability of technologically advanced products, growing utilization of LED-based phototherapy equipment, rising number of newborns, increasing adoption of phototherapy in neonatal care, surge in the introduction of advanced devices and growing approval of innovative phototherapy equipment are some of the key factors boosting the market growth.
Growing approval of innovative phototherapy equipment is predicted to boost the market growth during the forecast period. Phototherapy is widely acknowledged as an effective treatment for neonatal jaundice, involving the exposure of newborns to fluorescent light to expedite their recovery. While jaundice is common among infants, persistent cases typically necessitate the utilization of phototherapy devices for treatment. For instance, in July 2023, Hebert Waldmann GmbH & Co. KG, a medical device firm based in Germany, obtained CE marking for its MediLight 2000 phototherapy device tailored for treating various skin conditions such as psoriasis, eczema, and acne.
By product, LED phototherapy equipment was the highest revenue-grossing segment in the global phototherapy equipment market in 2023 owing to the incidence of skin conditions such as psoriasis & acne, rising concerns related to fine lines & wrinkles, and growing population experiencing these issues, leading to an increased introduction of advanced systems. For instance, in March 2023, A prominent provider of lighting solutions has recently introduced their BlueLED phototherapy system, which offers more efficient and cost-effective treatment for neonatal jaundice compared to conventional phototherapy units. Additionally, conventional phototherapy equipment is predicted to grow at the fastest CAGR during the forecast period owing to the growing occurrence of newborns experiencing jaundice and increase in the number of preterm babies.
By application, skin disease was the highest revenue-grossing segment in the global phototherapy equipment market in 2023 owing to the rise in the number of various skin diseases such as acne, vitiligo, & others and growing launch of novel devices. For instance, in May 2023, GE Healthcare introduced their Lucivera phototherapy system, characterized by its compact design and user-friendly interface, aimed at treating diverse skin conditions such as psoriasis, eczema, and vitiligo. Additionally, neonatal jaundice management is predicted to grow at the fastest CAGR during the forecast period owing to the rising incidence of newborns affected by jaundice and surge in the number of preterm babies.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global phototherapy equipment market in 2023 owing to the rising incidence of newborns affected by jaundice, surge in the number of preterm babies, and increasing mergers & acquisitions among market players. For instance, in June 2023, Natus Medical Incorporated, known for its medical devices and software, has acquired PhotoMedics, a manufacturer specializing in phototherapy equipment. This acquisition enhances Natus' presence in the phototherapy market. Additionally, homecare is predicted to grow at the fastest CAGR during the forecast period owing to the increasing presence of phototherapy equipment designed for homecare use, coupled with a growing awareness of such equipment among the general public.
North America region is anticipated for the highest revenue share during the forecast period owing to the increase in the prevalence of diverse skin conditions including vitiligo, psoriasis, eczema, & acne, rising advancements in technology and surge in collaborations among industry players. For instance, in November 2022, GE Healthcare and MediView XR Inc have revealed their partnership aimed at incorporating medical imaging into mixed reality solutions. This collaboration will result in the development of the OmnifyXRTM Interventional Suits System. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rise in the birth rate of pre-term babies, increase in the prevalence of individuals experiencing skin disorders, and surge in initiatives undertaken by key market players. For instance, in August 2022, Sewon NC, headquartered in South Korea, disclosed its plans to bring organic light-emitting diode (OLED)-based phototherapy solutions to the market for treating pain and various skin conditions. Developed by KAIST, the OLED optical patch is a flexible platform that can be attached to the body.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Growing approval of innovative phototherapy equipment is predicted to boost the market growth during the forecast period. Phototherapy is widely acknowledged as an effective treatment for neonatal jaundice, involving the exposure of newborns to fluorescent light to expedite their recovery. While jaundice is common among infants, persistent cases typically necessitate the utilization of phototherapy devices for treatment. For instance, in July 2023, Hebert Waldmann GmbH & Co. KG, a medical device firm based in Germany, obtained CE marking for its MediLight 2000 phototherapy device tailored for treating various skin conditions such as psoriasis, eczema, and acne.
By product, LED phototherapy equipment was the highest revenue-grossing segment in the global phototherapy equipment market in 2023 owing to the incidence of skin conditions such as psoriasis & acne, rising concerns related to fine lines & wrinkles, and growing population experiencing these issues, leading to an increased introduction of advanced systems. For instance, in March 2023, A prominent provider of lighting solutions has recently introduced their BlueLED phototherapy system, which offers more efficient and cost-effective treatment for neonatal jaundice compared to conventional phototherapy units. Additionally, conventional phototherapy equipment is predicted to grow at the fastest CAGR during the forecast period owing to the growing occurrence of newborns experiencing jaundice and increase in the number of preterm babies.
By application, skin disease was the highest revenue-grossing segment in the global phototherapy equipment market in 2023 owing to the rise in the number of various skin diseases such as acne, vitiligo, & others and growing launch of novel devices. For instance, in May 2023, GE Healthcare introduced their Lucivera phototherapy system, characterized by its compact design and user-friendly interface, aimed at treating diverse skin conditions such as psoriasis, eczema, and vitiligo. Additionally, neonatal jaundice management is predicted to grow at the fastest CAGR during the forecast period owing to the rising incidence of newborns affected by jaundice and surge in the number of preterm babies.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global phototherapy equipment market in 2023 owing to the rising incidence of newborns affected by jaundice, surge in the number of preterm babies, and increasing mergers & acquisitions among market players. For instance, in June 2023, Natus Medical Incorporated, known for its medical devices and software, has acquired PhotoMedics, a manufacturer specializing in phototherapy equipment. This acquisition enhances Natus' presence in the phototherapy market. Additionally, homecare is predicted to grow at the fastest CAGR during the forecast period owing to the increasing presence of phototherapy equipment designed for homecare use, coupled with a growing awareness of such equipment among the general public.
North America region is anticipated for the highest revenue share during the forecast period owing to the increase in the prevalence of diverse skin conditions including vitiligo, psoriasis, eczema, & acne, rising advancements in technology and surge in collaborations among industry players. For instance, in November 2022, GE Healthcare and MediView XR Inc have revealed their partnership aimed at incorporating medical imaging into mixed reality solutions. This collaboration will result in the development of the OmnifyXRTM Interventional Suits System. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rise in the birth rate of pre-term babies, increase in the prevalence of individuals experiencing skin disorders, and surge in initiatives undertaken by key market players. For instance, in August 2022, Sewon NC, headquartered in South Korea, disclosed its plans to bring organic light-emitting diode (OLED)-based phototherapy solutions to the market for treating pain and various skin conditions. Developed by KAIST, the OLED optical patch is a flexible platform that can be attached to the body.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Application, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Phototherapy Equipment Market Report 2023 - 2034
Phototherapy Equipment Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Mn)
- LED Phototherapy Equipment
- Fiber Optic Phototherapy Equipment
- Conventional Phototherapy Equipment
- Conventional Phototherapy Equipment with Fluorescent Lamp
- Conventional Phototherapy Equipment with Compact Fluorescent Lamp
Phototherapy Equipment Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Mn)
- Neonatal Jaundice Management
- Skin Disease Treatment
- Vitiligo
- Eczema
- Psoriasis
- Others
Phototherapy Equipment Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Mn)
- Homecare
- Hospitals & Clinics
Phototherapy Equipment Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Mn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Phototherapy Equipment Market: Product Estimates & Trend Analysis
8. Phototherapy Equipment Market: Application Estimates & Trend Analysis
9. Phototherapy Equipment Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Phototherapy Equipment Market
12. Europe Global Phototherapy Equipment Market
13. Asia Pacific Global Phototherapy Equipment Market
14. Latin America Global Phototherapy Equipment Market
15. MEA Global Phototherapy Equipment Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Atom Medical Corporation
- GE Healthcare
- National Biological Corp.
- Solarc Systems Inc.
- Natus Medical Incorporated
- Signify Holding
- Nice Neotech Medical Systems Pvt. Ltd.
- The Daavlin Company
- Phoenix Medical Systems Pvt. Ltd.
- Hebert Waldmann GmbH & Co. KG
