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Sales of Phototherapy Devices Market to be Significantly Influenced by Rising Consumer Adoption : FactMR

01-24-2022 11:20 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact Mr

As per industry analysis on phototherapy devices by Fact.MR, a market research and competitive intelligence provider, the global market is anticipated to expand at a healthy CAGR of 7% over the forecast period of 2021-2031, reaching US$ 1.5 Bn in valuation.

Phototherapy uses light of a certain wavelength for the treatment of chronic disorders. For the treatment of skin problems and the management of neonatal jaundice cases, phototherapy devices include light-emitting diodes, fiber optics, and conventional lamps. Phototherapy units range in size from handheld to desktop devices for spot treatment of tiny areas to cabinets to walk-in units for full-body treatment.

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Key Segments Covered in Phototherapy Devices Industry Research

• Product Type
o LED-based Phototherapy Devices
o Conventional Phototherapy Devices
o Fiber Optic Phototherapy Devices
o Others
 Full-body Phototherapy Devices
 Partial-body Phototherapy Devices
 Mobile Infant Phototherapy Devices
 Fixed Infant Phototherapy Devices
 Conventional Phototherapy Devices with Compact Fluorescent Lamp
 Conventional Phototherapy Devices with Fluorescent Lamp

• Light Type
o White Light Phototherapy Devices
o Red Light Phototherapy Devices
o Blue Light Phototherapy Devices
o Others

• Application
o Use of Phototherapy Devices for Skin Disease Treatment
o Use of Phototherapy Devices for Psoriasis
o Use of Phototherapy Devices for Vitiligo
o Use of Phototherapy Devices for Eczema
o Use of Phototherapy Devices for Neonatal Jaundice Management
o Use of Phototherapy Device for Scleroderma
o Use of Phototherapy Device for Seasonal Affective Disorder (SAD)
o Use of Phototherapy Device for Skin Cancer
o Use of Phototherapy Device for Sterilization
• End User
o Use of Phototherapy Devices in Hospitals
o Use of Phototherapy Devices for Home Care Settings
o Use of Phototherapy Devices for Dermatology Clinics

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Key Takeaways from Market Study

Global phototherapy devices market to top US$ 1.5 Bn by 2031.
LED-based phototherapy devices projected to reach around US$ 800 Mn by 2031.
Conventional phototherapy devices projected to record above 4% CAGR over next 10 years.
Phototherapy devices for skin disease treatment expected to reach valuation of US$ 250 Mn by 2031.
Market in North America holds share of more than 40%.
Market in India to record 3% CAGR over forecast period of 2021- 2031.

Market Competition

The phototherapy devices market, which includes both, public and private enterprises, is a growing market in the medical device industry. Key players are involved in the design, production, and distribution of phototherapy devices and accessories.

To assure patient safety and device affordability in the market, manufacturers are engaged in research & development. Recent improvements in the creation of phototherapy equipment have aided in the reduction of instrument size and improved device portability. With the entry of new players into the ecosystem, the market will remain competitive.

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