Press release
Phototherapy Device market Demand Will Reach a Value of US$ 793.86 Mn. by the Year 2030, At a CAGR of 4.1%
Phototherapy Device market
The global Phototherapy Device Market was valued at US $599.23 million in 2023 and is projected to reach approximately US $793.86 million by 2030, growing at a CAGR of 4.1 % between 2024 and 2030. Driving factors include a rising incidence of skin disorders (such as psoriasis, eczema, neonatal jaundice) and rapid technological advancements, especially in LED-based phototherapy.
Constant innovation and competitive pricing are intensifying the market landscape. Higher healthcare spending and adoption in emerging countries like China and India further bolster demand . As conventional phototherapy is predicted to command ~US $184 million in 2023 revenue, the faster-growing LED-based segment is expected to grow at a CAGR of ~6 %.
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►Competitive Landscape
North America - with a dominant 55 % market share in 2023 - leads the global market with a regional CAGR of ~4.6 % . Europe follows closely (35 % share; ~4.2 % CAGR) . Meanwhile, the Asia Pacific region is gaining traction due to increasing home‐use adoption and economic growth, with China's market expected to hit ~US $216.4 million by 2030 (~5.1 % CAGR)..
►Regional Insights
📈 Growth & Opportunity in United States
Holding the largest single-country share, the US market benefits from high prevalence of acne (~50 million affected annually) and neonatal jaundice.
Opportunities include expansion of home‐use LED phototherapy and partnerships between hospitals and device manufacturers.
🔍 Trends & Expansion in Europe
Europe (35 % of market) reveals strong clinical adoption of advanced LED systems.
Trends: Ongoing R&D in German and UK markets.
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🌱 Growth & Opportunity in Asia Pacific
Rapid adoption in China and India supported by rising healthcare investments.
China expected to reach US $216 million by 2030 with ~5.1 % CAGR; APAC sees growing home‐care uptake.
Opportunity: LED-based products ideal for emerging market price sensitivity.
📊 Trends & Consolidation in Middle East & Africa
MEA showing gradual uptake in neonatal care; GGC and South Africa particularly active.
Consolidation: Collaborative agreements between local distributors and international players to expand reach.
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► Market Segmentation: In-Depth Analysis:
by Types
Conventional Phototherapy Market
LED Based Phototherapy Market
Fiber Optic Phototherapy Market
The market for phototherapy devices is divided into three segments: fiber optic, LED-based, and conventional phototherapy. Because phototherapy lowers hyperbilirubin in newborns and skin conditions, the conventional photography segment leads the market and is expected to grow at the highest CAGR of 3.94 percent throughout the forecast period. In 2023, this segment brought in 184.00 million dollars. The second-largest segment is LED-based phototherapy, which is anticipated to expand at a compound annual growth rate (CAGR) of 6.0% throughout the projection period.
by Application
Skin Disease Treatment
Psoriasis
Vitiligo
Eczema
Neonatal Jaundice Management
The market for phototherapy devices is divided into two segments: neonatal jaundice and skin disease treatment. Treatment for skin conditions is divided into three categories: vitiligo, eczema, and psoriasis. During the projection period, skin disease treatment is expected to expand at the highest CAGR of 5.44%. People consistently choose phototherapy as a treatment for the growing number of skin disorders. During the predicted period, neonatal jaundice is anticipated to increase at the fastest rate. According to a recent analysis conducted in 2023, jaundice affects the majority of newborns.
by End-User
Hospital and Specialty Clinic
Home User
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/phototherapy-device-market/121745/
► Learn about the top players driving innovation in the Market :
1. GE Healthcare
2. Atom Medical
3. Draeger
4. Herbert Waldmann
5. Natus Medical
6. Daavlin
7. Beurer
8. National Biological
9. David
10.Solarc Systems Inc.
11.UVBioTek
12.MTTS Asia
13.Nice Neotech
14.Signify Holding
15.Phoenix Medical Corporation
16.Strata Skin Sciences
17.National Biological Corporation
18.Hill-Rom
19.Medisana AG
20.Schulze & Böhm GmbH
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► About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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