The global phototherapy treatment market is poised for steady growth, with a projected value of USD 1,948.90 million in 2023. According to the latest market research, this market is expected to expand at a robust 5.2% CAGR, reaching a valuation of USD 3,230.90 million by 2033.
Phototherapy, a medical treatment that uses light to treat various conditions such as neonatal jaundice, skin disorders, and certain psychiatric conditions, continues to gain traction due to its effectiveness and non-invasive nature. Increasing incidences of skin conditions like psoriasis, eczema, and vitiligo, alongside the growing use of phototherapy in neonatology, are contributing to the market’s growth.
Phototherapy Treatment Market Trends and Highlights
- The rising prevalence of acne and psoriasis across all regions, as well as rising skin hygiene awareness
- Rising deployment of various combination therapies to yield more successful surgical outcomes
- Extensive application for treating neonatal jaundice, as well as prevention of neurotoxic effects of high serum unconjugated bilirubin
- High preference for blue light phototherapy is expected to take a turn for the better in the coming decade
Key Takeaways from the Report:
- Rising Prevalence of Skin Disorders
The growing number of individuals diagnosed with skin conditions such as psoriasis and eczema is driving the demand for phototherapy treatments, particularly in dermatology. - Neonatal Jaundice Treatment
The widespread adoption of phototherapy for treating neonatal jaundice, especially in emerging economies, is expected to continue as the awareness of its benefits grows among healthcare professionals and parents. - Technological Advancements
Innovations in phototherapy devices, including portable and home-use options, are expected to fuel market growth by providing more accessible treatment alternatives for patients. - North America Holds the Largest Market Share
North America leads the phototherapy treatment market, supported by a strong healthcare infrastructure, increasing awareness, and a high adoption rate of advanced medical devices. However, regions like Asia-Pacific are expected to experience significant growth due to rising healthcare access and growing incidences of skin disorders.
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.
Key Companies Profiled
- 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
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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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