Phototherapy Lamps Market to Display Impressive Growth of 5.8% CAGR Says Future Market Insights

Phototherapy Lamps Market Outlook (2022-2032)
The global phototherapy lamps market size reached US$ 3.0 Bn in 2021 and is expected to enjoy a valuation of US$ 3.2 Bn by the end of 2022. Furthermore, with rising usage of phototherapy lamps for treating various medical conditions including psoriasis and neonatal jaundice, the overall demand for phototherapy lamps is poised to grow at a CAGR of 5.8% between 2022 and 2032, totalling a valuation of ~US$ 5.6 Bn by 2032.

Based on product, the LED segment dominated phototherapy lamps market with a share of about 37.1% in 2021 and it is expected to grow at a higher CAGR during the forecast period.

Phototherapy lamps are instruments used for treating psoriasis, vitiligo, eczema, and several other skin diseases. They have gained immense traction in the field of aesthetic medicines during the last few years due to their simple nature and better effectiveness in relieving various symptoms associated with skin disorders. Rising popularity of phototherapy across the world will therefore continue to boost sales of phototherapy lamps during the assessment period.

A number of disorders can be effectively treated by using phototherapy. Of all the treatment alternatives available in dermatology, only a few of them have phototherapy's history, success, and safety. It can be used to cure neonatal jaundice and is mostly used to treat a variety of common skin conditions.

The most widely used forms of phototherapy today include NB-UVB, heliotherapy, UVA1, and PUVA. It is used for a variety of conditions, including cutaneous T-cell lymphoma, atopic dermatitis, cutaneous sclerosis, and vitiligo, although psoriasis is the most common use.

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Thus, rising prevalence of diseases like psoriasis across the world will continue to push the demand for phototherapy lamps during the forecast period. As per the World Psoriasis Day consortium, around 125 Mn people have psoriasis globally and this number is likely to further increase during the forecast period.

Patients with moderate to severe psoriasis often experience a greater negative impact on their quality of life. As there is no proper cure available for this condition yet, treatments like phototherapy can help people to relieve symptoms and lead a better quality of life. This in turn will have a positive impact on the overall phototherapy lamps market during the forecast period.

Similarly, rising awareness among people regarding phototherapy or light therapy and its potential benefits will create lucrative opportunities for phototherapy lamp manufacturers during the forthcoming period.

The market value for phototherapy lamps was approximately 33.7% of the overall ~US$ 8.8 Bn global dermatology devices market in 2021.

Sales Analysis of Phototherapy Lamps Market from 2012 to 2021 Vs Market Outlook for 2022 to 2032
The global sales of phototherapy lamps are projected to rise at 5.8% CAGR between 2022 and 2032, in comparison to 5.9% CAGR registered from 2012 to 2021. Growth in the market is driven by rising cases of medical conditions such as psoriasis, vitiligo, acne, neonatal jaundice and growing demand for better treatment approaches for these conditions.

For many skin conditions, such as actinic prurigo, vacciniforme, vitiligo, atopic dermatitis, parapsoriasis, eczema, photodermatitis, cutaneous porphyrias, pityriasis lichenoides chronica, psoriasis, hydroa Mycosis fungoides, polymorphous light eruption, and others, phototherapy is still the most widely used.

The application of ultraviolet (UV) radiation for therapeutic purposes is known as phototherapy. It can be carried out while being exposed to UVA or UVB rays, or to sunlight. According to the disease indications, different UV radiation concentrations and wavelengths are administered.

Different characteristics of UVB phototherapy include anti-inflammatory, immunosuppressive, and cytotoxic effects. For enhanced disease control, phototherapy is typically used in conjunction with topical or systemic medicines. Selected individuals who exhibit adequate cognitive and treatment compliance may be offered UVB phototherapy at home.

However, various limitations, like the inability to control the equipment, the length of the patient's sessions, the lack of an effective compensation structure, and others, have a negative impact on the prescription of this therapy globally. When standard phototherapy is not possible for the patient, less conventional phototherapy techniques like heliotherapy (exposure to sunshine), with or without psoralen, are recommended.

With a high prevalence of dermatological diseases, growing volumes of dermatology procedures, and age-related ailments, the market for phototherapy lamps is expected to witness a growth at a steady growth rate during the next ten years.

Over the years, there has been a spike in skin diseases like psoriasis and vitiligo across the world. For instance, as per the GLOBAL VITILIGO FOUNDATION, around 70 million people across the world have vitiligo. Due to Lack of any proper cure for these diseases, people usually opt for phototherapy treatments to get relief.

Similarly, introduction of technologically advanced phototherapy lamps which are not only cost effective but also more efficient and user-friendly will further expand the phototherapy lamps market size in future.

What are the Key Trends Driving the Phototherapy Lamps Market?
"Innovation in Phototherapy Products to Bolster Market Growth in the Coming Years"

With innovations in phototherapy, manufacturers are presented with novel opportunities for expansion and growth. The most popular types of light sources in medicine nowadays are solid or gaseous emitters that are categorised depending on the aggregation state of the emitting species.

Both solid-state lasers and semiconductor-based devices like OLEDs, LEDs, and diode lasers are referred to as "solid emitters" in this context. Gas-based sources include gas-discharge lamps and lasers such as CO2 and excimer.

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Country-wise Insights
What Makes the U.S. a Dominant Market for Phototherapy Lamps?
"Rising Incidence of Psoriasis Propelling Phototherapy Lamp Sales in the U.S."

The U.S. dominated North American phototherapy lamps market with a total market share of about 80.2% in 2021 and it is poised to grow at a steady pace during the assessment period. Growth in the U.S. phototherapy lamps market is driven by rising prevalence of dermal conditions such as psoriasis, availability of advanced medical technologies, increasing healthcare spending, and presence of some of the leading manufacturers.

In recent years, there has been a sharp rise in psoriasis cases in the U.S. and other North American countries which has ignited the demand for treatments like phototherapy. For instance, according to the National Psoriasis Foundation, more than 8 million people in the U.S. have psoriasis and this number is expected to further increase in the coming years. This will provide a strong thrust to the growth of phototherapy lamps market in the country.

Moreover, rising awareness regarding aesthetics and growing adoption of cosmetic procedures are expected to further propel growth of the overall phototherapy lamps market in the country during the assessment period.

What is the Growth Projection for Phototherapy Lamps Market in Germany?
"Flourishing Medical Tourism Fuelling Market Growth in Germany"

Germany held a market share of about 4.2% in the global phototherapy lamps market in 2021 and is expected to remain one of the lucrative markets across Europe during the forecast period. Growing medical tourism, surge in the number of people suffering from various skin disorders, and availability of advanced technologies are playing crucial roles in accelerating growth of phototherapy lamps market in the country.

Similarly, presence of several established manufacturers in the country will continue to support market growth over the next ten years. FMI predicts the German phototherapy lamps market to grow at a CAGR of 5.3% over the forecast period.

What Makes China a Highly Lucrative Market for Phototherapy Lamps?
"Increasing in Skin Diseases and Availability of Inexpensive Products Favouring Market Growth in China"

China holds approximately 5.6% share in the global market in 2021 and it is expected to exhibit strong growth during the next few years, owing to the rising prevalence of various skin diseases, favourable government support, and rapidly expanding healthcare industry.

Chinese herbal medicines, such as the Yinzhihuang oral formula, have been assessed for effectiveness along with phototherapy for dermal conditions. With a rich history in traditional herbal medicine, China supports rigorous R&D activities to combine traditional treatment modalities with modern device technologies.

Furthermore, easy availability of phototherapy products at much lower prices is supporting market growth in the country.

Competitive Landscape
The phototherapy lamps market has a high level of competition due to the presence of a large number of international, regional, and domestic market players. In order to capitalize and gain a competitive edge in the global market, leading players are adopting growth strategies such as new product launches and approvals, investments in R&D, partnerships, mergers, acquisitions, and collaborations. For instance,

In June 2022, LightStim®, launched LightElipsaTM, its latest innovation in LED light therapy, which seamlessly integrates with BeautyHealth's next generation HydraFacial system, Syndeo. The new product elevates the provider experience and treatment results.
A wearable light treatment device called Philips BlueControl (Koninklijke Philips N.V.), which can be used to treat mild psoriasis at home, received the US FDA 510(k) clearance in July 2017.

Report Scope as per Phototherapy Lamps Industry Analysis
Attribute

Details

Estimated Market Size (2022)

US$ 3.2 Bn

Projected Market Size (2032)

US$ 5.6 Bn

Anticipated Growth Rate (2022-2032)

5.8%

Forecast Period

2012-2021

Historical Data Available for

2022-2032

Market Analysis

US$ Mn for Value

Key Regions Covered

North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa

Key Countries Covered

U.S., Canada, Brazil, Mexico, Argentina, U.K., Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Turkey, GCC Countries, North Africa, and South Africa

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Key Market Segments Covered

Product, Application, End User, and Region

Key Companies Profiled

General Electric Company
Koninklijke Philips N.V.
Dragerwerk AG & Co. KGaA
Natus Medical Incorporated
Bistos Co. Ltd.
Fanem Ltda.
Herbert Waldmann GmbH & Co. KG
The Daavlin Distributing Co
Schulze & Bohm GmbH
TSE spol. S R.O.
LightStim

Key Market Segments Covered in Phototherapy Lamps Industry Research

By Product:
LED
UV LIGHT
Halogen Lamps
By Application:
Psoriasis
Vitiligo
Acne
Neonatal Jaundice
Others

By End User:
Hospital
Skin care clinics
Home care Setting
Others

By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)

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