Global phototherapy equipment market sales were valued at around US$ 571.8 Mn at the end of 2021. The market is projected to register a 5.8% CAGR and top a valuation of US$ 1109.6 Mn by 2032.
“Increasing prevalence of neonatal jaundice, rising awareness regarding easy availability and increasing research and development activity will anticipate bolstering the overall phototherapy equipment market.”
The terms heliotherapy and light therapy are also used to describe phototherapy. To treat certain medical diseases, phototherapy involves exposing patients to fluorescent light bulbs or other types of light, such as sunlight, halogen lights, and light-emitting diodes. Jaundice, vitiligo and psoriasis are conditions that can be treated using phototherapy, which involves exposing the patient to either indoor or outdoor artificial or natural light sources.
Transcutaneous bilirubin meters, jaundice meters, radiant warmers, oxygen hoods, and other fiberoptic phototherapy devices are some of the standard equipment used in the procedure. Phototherapy equipment is usually used along with overhead light-emitting diode (LED) and halogen systems to reduce wrinkles, skin damage from the sun and stretch marks while improving facial texture and speeding up the healing of wounds.
| Attributes | Details |
|---|---|
| Phototherapy Equipment Market Value in 2021 | US$ 571.8 Million |
| Phototherapy Equipment Market Value in 2032 | US$ 1109.6 Billion |
| Phototherapy Equipment Market CAGR (2022 to 2032) | 5.8% |
The rise in low-weight births and premature as well as the prevalence of severe skin conditions like rosacea, eczema, acne and hives which has led to an increase in treatment options to reduce infant jaundice mortality rates are driving the rapid growth of the global phototherapy market. Additionally, it is anticipated that the increasing use of LED-based phototherapy equipment will accelerate the growth of the phototherapy market.
It is projected that increased patient awareness of advanced treatment choices and better healthcare infrastructure will fuel market expansion. The availability of phototherapy equipment for home use is also anticipated to increase demand among people with skin conditions.
Neonatal jaundice can also be treated with phototherapy. The newborns receive this treatment where they are exposed to fluorescent light, which speeds up their recovery. Due to all these factors, the demand for the phototherapy equipment market is increasing.
A significant portion of the phototherapy equipment market share is expected to be hold by North America, which will exhibit a sharp increase in the annual growth rate. This can be largely due to the rise in neonatal jaundice cases and other skin-related conditions.
Furthermore, during the projected period, it is anticipated that better healthcare infrastructure and increasing public awareness of modern treatment options will enhance the market for phototherapy equipment in this region.
The increasing popularity of medical tourism in the region, the government increasing support for healthcare initiatives and the expansion of major regional market players as well as the availability of inexpensive phototherapy equipment in China and India contribute to the East and South Asia region expect strong growth.
Some of the key market players present in the phototherapy equipment industry are GE Healthcare, Aeroflow Healthcare, The Daavlin Company, Philips Lighting Holding B.V., Hill-Rom, Herbert Waldmann GmbH & Co. KG, Solarc Systems Inc., Medela AG, National Biological Corp., Natus Medical Incorporated and Phoenix Medical Systems Pvt. Ltd.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.8% 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Million, Volume in Units and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segment Covered |
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| Region Covered |
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| Key Countries Profiled |
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| Customization | Available Upon Request |
The global phototherapy equipment market is anticipated to register a CAGR of 5.8% during the forecasted period.
The global phototherapy equipment market is projected to be about US$ 1109.6 Mn by the end of year 2032.
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