Phototherapy Equipment Market - Forecast(2022 - 2027)

Report Code: HCR 0521 Report Format: PDF + Excel

Phototherapy Equipment Market Overview

The Phototherapy Equipment Market size is forecast to reach $1.2 billion by 2026, growing at a CAGR of 4.7% during the forecast period 2021-2026. Phototherapy is a procedure in which light is used for treating several skin diseases such as Vitiligo, and psoriasis among others. During this procedure, the skin is covered with a special type of light that is emitted from a medical device that is known as a phototherapy unit. It is used to spot treatment of tiny areas in which the patient needs treatment of the full body. There are several products of phototherapy such as LED phototherapy, fiberoptic phototherapy, and conventional phototherapy which are most frequently used by dermatologists and neonatologists. The increasing prevalence of neonatal jaundice and rising number of low weight births along with the increasing incidences of skin diseases are the major factors driving the growth of the market. Increasing usage of technologically advanced phototherapy equipment and increasing awareness regarding advanced phototherapy is set to further enhance the overall market developments of the Phototherapy Equipment Market for the period 2021-2026.

Report Coverage

The report: “Phototherapy Equipment Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Phototherapy Equipment Market. 
By Product: Conventional Phototherapy, LED Phototherapy, and Fiber Optic Phototherapy
By Applications: Skin Disease Treatment, Neonatal Jaundices Management, Others
By End User: Hospitals, Clinics, Home Users, Others
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (Middle East, and Africa)

Key Takeaways

  • North America dominated the Phototherapy Equipment Market in 2020 owing to the increasing focus on LED phototherapy and increasing advancements in technologies of phototherapy equipment. The Phototherapy Equipment Market scope for different regions will be provided in the final report.
  • Increasing awareness about personal health and increasing incidences of skin diseases are likely to aid the market growth of the Phototherapy Equipment Market report.
  • Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Phototherapy Equipment Market report.
  • Stringent regulations and improper reimbursement is poised to create the hurdles for the Phototherapy Equipment Market.

Phototherapy Equipment Market Revenue Share, By Geography, 2020(%)

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Phototherapy Equipment Market Analysis – By Product

LED Phototherapy held the largest share in the Phototherapy Equipment Market in 2020 and is estimated to grow at a CAGR 5.3% during the forecast period 2021-2026. This is owing to the increasing availability of the products that are extremely cost effective. Conventional phototherapy equipment includes compact fluorescent lamps and fluorescent lamps. It is a widely used procedure for treating infants and preterm neonates that are suffering from jaundice and several other diseases. High efficiency of the LED phototherapy equipment products and increasing prevalence of jaundice among children are increasing the growth of the segment. LED Phototherapy are estimated to register the higher CAGR over the period 2021-2026.

Phototherapy Equipment Market Analysis – By Applications

Skin Disease Treatment held the largest share in the Phototherapy Equipment Market in 2020 and is estimated to grow at a CAGR 5.5% during the forecast period 2021-2026. This is owing to increasing incidences of the skin diseases such as eczema, psoriasis, and acne among others. Increasing number of neonates that are suffering from jaundice and increasing advancements in phototherapy equipment are also increasing the growth of the segment. Neonatal Jaundice Management are estimated to register the higher CAGR over the period 2021-2026.

Phototherapy Equipment Market Analysis – By Geography

North America dominated the Phototherapy Equipment Market with a major share of 35.9% in 2020. This is attributed to the increasing focus on LED phototherapy, increasing awareness regarding phototherapy, and increasing awareness regarding the health. Increasing demand for skin disease treatment and neonatal jaundice management among the consumers is also increasing the growth of the market in this region.

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing awareness regarding the advanced phototherapy equipment and increasing incidences of neonatal jaundice.

Phototherapy Equipment Market Drivers

Increasing Technological Advancement

Increasing technological advancement is increasing the growth of the Phototherapy Equipment Market. This is owing to the increasing awareness regarding the advanced techniques of skin disease treatment and the increasing availability of neonatal jaundice management. Phototherapy treatment involves UV light to reduce the skin cell growth and inflammation. It also uses broadband UVB that treats the skin diseases with the full spectrum of ultraviolet B radiations. Thus, increasing the growth of the Phototherapy Equipment Market during the forecast period 2021-2026.

Increasing Incidences of Skin Diseases

Increasing incidences of skin diseases increasing the growth of the Phototherapy Equipment Market. Skin diseases are the conditions that affects the skin. It is caused by bacterial infections, fungal infections, allergic reactions, parasites, skin cancers, and fungal infections. Phototherapy uses ultraviolet light from the artificial sources that trigger the biological processes to reduce the inflammation and prevents the skin cells from growing too quickly. Thus, increasing the growth of the Phototherapy Equipment Market during the forecast period 2021-2026. 

Phototherapy Equipment Market Challenges

Stringent Regulations and Improper Reimbursement

Some of the factors that are set to impede the growth of the Phototherapy Equipment Market are stringent regulations and improper reimbursements. High complications associated with the treatments, increasing use of alternative modes of treatments, and limited adoption of phototherapy equipment are also set to hinder the growth of the market during the forecast period 2021-2026.

Phototherapy Equipment Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Phototherapy Equipment Market. In 2020, the Phototherapy Equipment Market share is consolidated by the top ten players present in the market. The Phototherapy Equipment Market, top 10 companies are General Electric, Natus Medical Incorporated, Phoenix Medical Systems, The Daavlin Company, National Biological Corporation, Healicom Medical Equipment Co Ltd, and Olives India among others.

Relevant Titles:

Infant Phototherapy Devices Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026
Report Code: HCR 74154

Phototherapy Apparatus Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026
Report Code: HCR 45626

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1. Phototherapy Equipment Market- Overview
    1.1 Definitions and Scope
2. Phototherapy Equipment Market- Executive Summary
    2.1  Market Revenue and Key Trends by Company
    2.2  Key trends by Product
    2.3  Key trends by Application
    2.4  Key trends by End User
    2.5  Key trends by Geography
3. Phototherapy Equipment Market– Comparative Analysis
    3.1 Product Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies
    3.4 Patent Analysis – Key Companies
    3.5 Pricing Analysis
4. Phototherapy Equipment Market- Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue    
        4.1.3 Venture Capital and Funding Scenario
5. Phototherapy Equipment Market– Industry Market Entry Scenario Premium Premium
    5.1  Regulatory Framework Overview
    5.2  New Business and Ease of Doing business index
    5.3  Case Studies of Successful Ventures
6. Phototherapy Equipment Market Forces
    6.1  Market Drivers
    6.2  Market Constraints/Challenges
    6.3  Porters five force model
        6.3.1  Bargaining power of suppliers
        6.3.2  Bargaining powers of customers
        6.3.3  Threat of new entrants
        6.3.4  Rivalry among existing players
        6.3.5  Threat of substitutes
7. Phototherapy Equipment Market– Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Phototherapy Equipment Market – By Product(Market Size –$Million/$Billion)
    8.1 Conventional Phototherapy
    8.2 LED Phototherapy
    8.3 Fiber optic Phototherapy
9. Phototherapy Equipment Market – By Application(Market Size –$Million/$Billion)
    9.1 Skin Disease Treatment
        9.1.1 Psoriasis
        9.1.2 Vitiligo
        9.1.3 Eczema
        9.1.4 Others
    9.2 Neonatal Jaundice Management
    9.3 Others
10. Phototherapy Equipment Market – By End User(Market Size –$Million/$Billion)
    10.1 Hospitals
    10.2 Clinics
    10.3 Home Care
    10.4 Others
11. Phototherapy Equipment Market- By Geography(Market Size –$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Mexico
        11.1.3 Canada
    11.2 Europe
        11.2.1 U.K.
        11.2.2 France
        11.2.3 Germany
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Rest of Europe
    11.3 Asia Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 Rest of APAC
    11.4 Rest of the World
        11.4.1 Middle East
        11.4.2 Africa
        11.4.3 South America
12. Phototherapy Equipment Market- Entropy
13. Phototherapy Equipment Market– Industry/Segment Competition Landscape Premium 
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key companies
        13.1.3 Market Share by Countries – Key Companies
        13.1.4 Competition Matrix
        13.1.5 Best Practices for Companies
14. Phototherapy Equipment Market– Key Company List by Country Premium Premium
15. Phototherapy Equipment Market Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
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