The global phototherapy treatment market is poised for remarkable growth, with projections estimating its value at USD 1,948.90 million in 2023, according to recent market research. By 2033, the market is expected to expand significantly, reaching a valuation of USD 3,230.90 million, representing a CAGR of 5.20% during the forecast period.
This promising growth trajectory reflects the rising demand for phototherapy treatments across diverse medical applications, including dermatological disorders, neonatal care, and certain chronic conditions. Advances in technology and increasing awareness about the benefits of non-invasive treatments are driving this upward trend. The healthcare industry’s continued emphasis on innovative therapies to enhance patient outcomes also fuels the expansion of the phototherapy market.
The report underscores the role of advancements in LED-based phototherapy devices, which are becoming the preferred choice for treatment due to their efficiency, safety, and cost-effectiveness. Additionally, the increasing prevalence of skin conditions like psoriasis and eczema, coupled with the rising adoption of phototherapy in emerging markets, is expected to contribute to sustained growth.
A Full Report Overview – https://www.futuremarketinsights.com/reports/north-america-and-europe-phototherapy-treatment-market
Key Takeaways:
- Market Size: Valued at US$ 1,948.90 million in 2023, projected to reach US$ 3,230.90 million by 2033.
- Growth Rate: Anticipated CAGR of 5.20% from 2023 to 2033.
- Driving Factors: Growing adoption of non-invasive treatments, technological advancements, and rising prevalence of skin disorders.
- Emerging Trends: Increasing adoption of LED-based phototherapy devices and expanding usage in emerging markets.
Growth Drivers
- Increasing Prevalence of Skin Disorders: The rising incidence of skin conditions such as psoriasis, eczema, and vitiligo is driving demand for effective phototherapy treatments.
- Technological Advancements: Innovations in phototherapy devices, including the development of LED-based treatments, are enhancing the efficacy and safety of phototherapy, making it a preferred choice for patients and healthcare providers.
- Growing Awareness and Acceptance: Increased awareness among patients and healthcare professionals about the benefits of phototherapy for various conditions is contributing to market growth.
- Expansion of Treatment Applications: Phototherapy is being increasingly recognized for its effectiveness not only in dermatology but also in treating other conditions such as neonatal jaundice and certain mood disorders.
Regional Insights
- North America is expected to hold a significant share of the market due to advanced healthcare infrastructure and high spending on dermatological treatments.
- The Asia-Pacific region is anticipated to witness rapid growth, driven by increasing healthcare access and rising awareness about skin health.
Competitive Landscape
Companies indulged in developing phototherapy treatment therapies are actively seeking to strengthen their position through approval and agreements with established healthcare institutes. Collaborations, mergers & acquisition partnerships with regional players can accelerate their strategy to capture a significant share of the emerging markets.
- Lifespan
- UC Irvine Health
- Buffalo Medical Group
- Blackrock Clinic Limited
- The Private Phototherapy Clinic Ltd
- National Skin Centre Massachusetts General Hospital
- Signify Holding
- GE Healthcare
- Natus Medical Incorporated
Some of the developments by players in the phototherapy treatment market are given below-
- Philips is a well-known multinational company that offers a range of medical and healthcare products, including phototherapy equipment for treating various skin disorders.
- Daavlin is a United States based company specializing in phototherapy products and services. They offer a range of phototherapy devices for treating skin conditions like psoriasis and vitiligo.
- National Biological Corporation manufactures phototherapy equipment known for its narrowband UVB (NBUVB) devices commonly used to treat psoriasis and other skin conditions.
Phototherapy Treatment Market – Key Segments
By Disease Type:
- Psoriasis
- Guttate Psoriasis
- Inverse Psoriasis
- Pustular Psoriasis
- Erythrodermic Psoriasis
- Plaque Psoriasis
- Acne
- Acne Vulgaris
- Acne Conglobata
- Acne Fulminans
- Gram-Negative Folliculitis
- Acne Rosacea
- Pyoderma Faciale
By Phototherapy Type:
- Blue Light Phototherapy
- Red Light Phototherapy
- Intense Pulsed Light (IPL) Phototherapy
- Narrowband UVB Phototherapy
- Psoralens+Ultravioletlight A (PUVA) Phototherapy
By End User:
- Hospitals
- Dermatology Clinics/Skin Care Centres
- Wellness Centres
- Home Care Settings
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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