Global Phototherapy Devices Market To Witness Robust Revenue Growth Across Key Regional Pockets : 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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According to the National Center for Biotechnology Information (NCBI), neonatal jaundice affects 60% to 80 % of healthy babies. Phototherapy devices are effective in the treatment of neonatal jaundice, a disorder that affects newborns with excessive bilirubin levels.

Growing adoption of LED-based phototherapy equipment and technologically advanced products is anticipated to boost demand for phototherapy devices over the next ten years.

Key Segments Covered in Phototherapy Devices Industry Research

Product Type
LED-based Phototherapy Devices
Conventional Phototherapy Devices
Fiber Optic Phototherapy Devices
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
White Light Phototherapy Devices
Red Light Phototherapy Devices
Blue Light Phototherapy Devices
Others

Application
Use of Phototherapy Devices for Skin Disease Treatment
Use of Phototherapy Devices for Psoriasis
Use of Phototherapy Devices for Vitiligo
Use of Phototherapy Devices for Eczema
Use of Phototherapy Devices for Neonatal Jaundice Management
Use of Phototherapy Device for Scleroderma
Use of Phototherapy Device for Seasonal Affective Disorder (SAD)
Use of Phototherapy Device for Skin Cancer
Use of Phototherapy Device for Sterilization

End User
Use of Phototherapy Devices in Hospitals
Use of Phototherapy Devices for Home Care Settings
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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