IMARC Group, a leading market research company, has recently releases report titled “Phototherapy Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global phototherapy equipment market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Phototherapy Equipment Market
Phototherapy equipment refers to medical devices that utilize specific wavelengths of light to treat various conditions and promote healing. It involves the use of light sources, such as light-emitting diodes (LEDs) or lasers, to deliver controlled doses of light to the body. It is commonly used in dermatology to treat various skin conditions. It is also used in the treatment of neonatal jaundice, a condition in newborns characterized by high bilirubin levels. It provides a non-invasive treatment option without the need for surgery or medication, reducing the risk of side effects. It is also a cost-effective method compared to other treatment modalities.
How big is the Phototherapy Equipment Market?
The global phototherapy equipment market size reached US$ 865.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,153.5 Million by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.
What Are the Growth Prospects and Trends in The Phototherapy Equipment Industry?
At present, the increasing incidence of various skin-related complications, such as psoriasis, eczema, vitiligo, and acne represent one of the crucial factors impelling the growth of the market. Besides this, the rising technological advancements in improving the functionalities of phototherapy equipment is contributing to the growth of the market. In addition, the increasing trend towards home-based healthcare treatments, including phototherapy, is supporting the growth of the market. Apart from this, the growing awareness about the beneficial aspects of phototherapy for various treatment purposes is offering a favorable market outlook. Additionally, the increasing investment in research activities to improve the functionalities of phototherapy equipment is bolstering the growth of the market.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Type:
- Conventional Phototherapy Equipment
- Conventional Phototherapy Equipment with Fluorescent Lamp
- Conventional Phototherapy Equipment with Compact Fluorescent Lamp
- LED Phototherapy Equipment
- Fiberoptic Phototherapy Equipment
Breakup by Application:
- Skin Disease Treatment
- Psoriasis
- Vitiligo
- Eczema
- Others
- Neonatal Jaundice Management
Breakup by End User:
- Hospitals and Clinics
- Home Users
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Atom Medical Corporation, AVI Healthcare Private Limited, General Electric Company, Herbert Waldmann GmbH & Co. KG, Ibis Medical Equipment & Systems Pvt Ltd, Koninklijke Philips N.V., Narang Medical Limited, National Biological Corporation, Natus Medical Incorporated, Nice Neotech Medical Systems Pvt. Ltd., Phoenix Medical Systems Pvt. Ltd. and Solarc Systems Inc.
