According to a recently published report by Future Market Insights, the global market for phototherapy lamps is anticipated to reach US$ 4.1 Bn value by the end of 2026. During the forecast period, the global phototherapy lamps market is anticipated to expand at a CAGR of 6.8%.
Medical organizations across the globe are actively installing phototherapy lamps in their operating rooms to keep up with the growing adoption of phototherapy as a treatment option. New technologies in phototherapy are influencing the production of lamps, and companies are focusing creating safest light sources to avoid the risks of skin burns among patients.
The study has analysed the global phototherapy lamps market on the basis of products, which includes LEDs, halogen lamps, and UV lamps. Comparatively, these three products are developed on the conventional lighting technologies.
However, manufacturers are using varied configurations to provide advancements in their offerings. The report has revealed that the demand for halogen-based phototherapy lamps is expected to be high in Europe, while UV-based phototherapy lamps and LEDs will be in great demand across North America during the forecast period.
LED to Remain Top-Selling Products Through 2026
The study reveals that the demand for LED lamps is anticipated to remain high in the global phototherapy lamps market through 2026. Over the years, LEDs has successfully replaced fluorescent tubes as source of light for phototherapy lamps used in treatment of neonatal jaundice. Efficiency of LED technology in phototherapeutics has driven the sales of LED phototherapy lamps in the global market.
Moreover, LEDs are comparatively safer options with respect to patient safety and operations, which has also supported their growing sales in the global phototherapy lamps market. By the end of 2026, nearly US$ 1.6 Bn worth of LED lamps are anticipated to be sold in the global phototherapy lamps market.
In 2017, Halogen Lamps worth nearly US$ 600 Mn will be sold globally
Towards the end of the forecast period, halogen lamps are anticipated to lose traction as a key product segment in the global phototherapy lamps market. The capabilities of halogen lamps in delivering high intensity light over small surface areas will continue to drive their sales in the global market. However, the expensive costs of phototherapy lamps made of halogen lamps will be a key restraint for their sales in the near future.
Moreover, the risks of burns associated with the use of halogen-based phototherapy lamps has further curbed their use in phototherapeutics. Over the forecast period, halogen-based phototherapy lamps are estimated to register a sluggish CAGR in terms of global revenue growth.
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UV Lamps to Register 7.3% CAGR throughout the forecast period
The demand for UV-based phototherapy lamps, on the other hand, is anticipated to witness an impressive growth during the forecast period. The study reveals that growing applications of UV technology in the field of healthcare will continue to support the use of UV lamps in phototherapy.
Demand for UV phototherapy lamps is also expected to be fuelled by easy procurement of raw materials used in production of these lamps. Moreover, the patient risks with UV phototherapy lamps are relatively lower compared to halogen lamps. By the end of the forecast period, UV-based phototherapy lamps being sold in the global market are expected to bring in over US$ 1.3 Bn in revenues.
The report propounds insights on global market for phototherapy lamps through segmentation analysis. The global market for phototherapy lamps has been divided into key segments namely, product type, application, end-user, and region. The market share comparison, and revenue comparison, along with Y-o-Y growth comparison of the market segments are incorporated in the report, to deliver the most significant & relevant market numbers pertaining to segmentation analysis. Global phototherapy lamps market is characterized regionally into Latin America, North America, Asia-Pacific excluding Japan (APEJ), Japan, Middle East & Africa (MEA), and Europe.
- North America
- Latin America
- UV LIGHT
- Halogen Lamps
- Skin care clinics
- Home care Setting
- Other End Users
- Neonatal Jaundice
- Other Application