Global Phototherapy Equipment Market Size Study, by Type, by End User, by Application, and Regional Forecasts 2022-2032

Description

The global phototherapy equipment market was valued at approximately USD 397.59 million in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 4.0% over the forecast period from 2024 to 2032. Phototherapy equipment, which emits specific wavelengths of light, plays a crucial role in treating various medical conditions. It is especially significant in the management of neonatal jaundice, where blue light helps break down excess bilirubin in newborns. Moreover, phototherapy is widely utilized in dermatology to treat conditions such as psoriasis, eczema, and vitiligo by either slowing skin cell growth or reducing inflammation. The treatment's non-invasive nature and proven efficacy make phototherapy equipment an essential component in modern healthcare.

The market is driven by several key factors, including the rising prevalence of neonatal jaundice, which necessitates the use of phototherapy as a primary treatment method. The global increase in birth rates, particularly in developing regions with limited healthcare infrastructure, further fuels the demand for effective phototherapy solutions. Technological advancements, such as the development of LED-based phototherapy devices, have greatly enhanced treatment efficacy, patient safety, and device longevity. These innovations not only make phototherapy more attractive to healthcare providers but also contribute to the market's expansion. Additionally, growing awareness about the benefits of phototherapy and increased healthcare expenditure are further propelling market growth.

The global phototherapy equipment market also presents substantial opportunities, particularly in emerging markets across Asia, Africa, and Latin America. These regions are witnessing improvements in healthcare infrastructure and rising disposable incomes, leading to increased access to phototherapy treatments. Moreover, the trend toward home-based healthcare is driving the demand for portable and easy-to-use phototherapy devices, catering to patients who prefer treatment in the comfort of their homes. Despite these growth drivers, the market faces challenges, particularly in developing regions where the high cost of advanced phototherapy equipment and limited access to healthcare facilities can hinder market penetration. Additionally, the lack of trained personnel to operate these devices further restricts widespread adoption in these areas.

In terms of regional analysis, North America dominated the market in 2023, accounting for the largest revenue share of 39.0%. This dominance is attributed to the high prevalence of various skin conditions such as vitiligo, psoriasis, eczema, and acne. On the other hand, the Asia-Pacific region is expected to register the fastest CAGR of 5.6% during the forecast period, driven by an increase in pre-term births and a rising number of individuals suffering from skin disorders.

Major market players included in this report are:

Signify Holding
GE Healthcare
Natus Medical Incorporated
Hebert Waldmann GmbH & Co. KG
Nice Neotech Medical Systems Pvt. Ltd.
Atom Medical Corporation
Phoenix Medical Systems Pvt. Ltd.
National Biological Corp.
Solarc Systems Inc.
The Daavlin Company

The detailed segments and sub-segment of the market are explained below:

By Type:

Convectional Phototherapy Equipment
LED Phototherapy Equipment
Fiberoptic Phototherapy Equipment

By End User:

Hospitals & Clinics
Home Users

By Application:

Skin Disease Treatment
Neonatal Jaundice Management

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Phototherapy Equipment Market Executive Summary

1.1. Global Phototherapy Equipment Market Size & Forecast (2022- 2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By End User
- 1.3.3. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Phototherapy Equipment Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Phototherapy Equipment Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Prevalence of Neonatal Jaundice
- 3.1.2. Technological Advancements
- 3.1.3. Rising Awareness and Healthcare Expenditure
3.2. Market Challenges
- 3.2.1. High Costs and Limited Access in Developing Regions
3.3. Market Opportunities
- 3.3.1. Expansion in Emerging Markets
- 3.3.2. Home-based Phototherapy Devices

Chapter 4. Global Phototherapy Equipment Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Phototherapy Equipment Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Phototherapy Equipment Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 5.2.1. Convectional Phototherapy Equipment
- 5.2.2. LED Phototherapy Equipment
- 5.2.3. Fiberoptic Phototherapy Equipment

Chapter 6. Global Phototherapy Equipment Market Size & Forecasts by End User 2022-2032

6.1. Segment Dashboard
6.2. Global Phototherapy Equipment Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 6.2.1. Hospitals & Clinics
- 6.2.2. Home Users

Chapter 7. Global Phototherapy Equipment Market Size & Forecasts by Application 2022-2032

7.1. Segment Dashboard
7.2. Global Phototherapy Equipment Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 7.2.1. Skin Disease Treatment
- 7.2.2. Neonatal Jaundice Management

Chapter 8. Global Phototherapy Equipment Market Size & Forecasts by Region 2022-2032

8.1. North America Phototherapy Equipment Market
- 8.1.1. U.S. Phototherapy Equipment Market
  - 8.1.1.1. Type breakdown size & forecasts, 2022-2032
  - 8.1.1.2. End User breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Phototherapy Equipment Market
8.2. Europe Phototherapy Equipment Market
- 8.2.1. U.K. Phototherapy Equipment Market
- 8.2.2. Germany Phototherapy Equipment Market
- 8.2.3. France Phototherapy Equipment Market
- 8.2.4. Spain Phototherapy Equipment Market
- 8.2.5. Italy Phototherapy Equipment Market
- 8.2.6. Rest of Europe Phototherapy Equipment Market
8.3. Asia-Pacific Phototherapy Equipment Market
- 8.3.1. China Phototherapy Equipment Market
- 8.3.2. India Phototherapy Equipment Market
- 8.3.3. Japan Phototherapy Equipment Market
- 8.3.4. Australia Phototherapy Equipment Market
- 8.3.5. South Korea Phototherapy Equipment Market
- 8.3.6. Rest of Asia Pacific Phototherapy Equipment Market
8.4. Latin America Phototherapy Equipment Market
- 8.4.1. Brazil Phototherapy Equipment Market
- 8.4.2. Mexico Phototherapy Equipment Market
- 8.4.3. Rest of Latin America Phototherapy Equipment Market
8.5. Middle East & Africa Phototherapy Equipment Market
- 8.5.1. Saudi Arabia Phototherapy Equipment Market
- 8.5.2. South Africa Phototherapy Equipment Market
- 8.5.3. Rest of Middle East & Africa Phototherapy Equipment Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Signify Holding
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. GE Healthcare
- 9.3.3. Natus Medical Incorporated
- 9.3.4. Hebert Waldmann GmbH & Co. KG
- 9.3.5. Nice Neotech Medical Systems Pvt. Ltd.
- 9.3.6. Atom Medical Corporation
- 9.3.7. Phoenix Medical Systems Pvt. Ltd.
- 9.3.8. National Biological Corp.
- 9.3.9. Solarc Systems Inc.
- 9.3.10. The Daavlin Company

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes