Phototherapy Market Analysis, Development, Opportunities, Future Growth and Business Prospects by Forecast To 2028

The continuous rise in incidences of neonatal jaundice in both developed and developing markets, rising number of people suffering from skin diseases, frequent launch of technologically advanced products, and rising adoption of LED-based phototherapy equipment are the key factors responsib

According to the current analysis of Reports and Data, the global Phototherapy market was valued at USD 554.6 Million in 2020 and is expected to reach USD 784.0 Million by year 2028, at a CAGR of 4.6%. The study covers the genre of healthcare with special focus on the Phototherapy market. Phototherapy is a type of treatment that involves exposure to fluorescent light bulbs or other sources of light such as halogen lights, sunlight and light emitting diodes or LED lights in order to treat certain medical conditions. It uses Ultraviolet Light (UV Light). Mainly, there are two kinds of rays in the UV light namely, Ultraviolet A rays (UVA) and ultraviolet B rays (UVB). The treatment can be given either to a specific area of the body or to the whole body. A rise in the tendencies of the people to encounter skin diseases. Rising cases of skin diseases, neonatal jaundice, mood and sleep problems etc. along with technological advancements and increasing awareness among the people are the key driving factors. Rising preference towards minimally invasive treatments along with the continuous technological developments are some of the other key factors driving the market. However, strict regulations of the government for the launch of new, improved devices, the high costs and the side effects are the major restraining factors for the market.

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Market Overview:

The pharma and healthcare industry is rapidly expanding in terms of revenue over the last few years and is expected to register significant revenue growth over the forecast period of 2028. Rapid advancements in the healthcare sector, rapid growth in the medical and healthcare sectors, availability of latest equipment and tools, rising healthcare expenditure and improvements in healthcare infrastructures are some key factors driving global market revenue growth. In addition to this, increasing investments in research and development activities, rising prevalence of various diseases and dearth of medications and hospitals during the ongoing COVID-19 pandemic are boosting market growth. Increasing number of funds by public and private sectors, rising adoption of point-of-care diagnosis and home settings, high demand for precision medicine and ongoing research on drug discovery are also expected to fuel market growth going ahead.

Competitive Landscape

The report sheds light on the competitive landscape of the global Phototherapy market and details about each market player, global position, financial standing, license agreement, and product and service portfolio along with business expansion plan. Major players are investing in research and development activities to develop and launch new products and services and are also focusing on adopting key strategies such as mergers and acquisitions, partnerships, joint ventures and collaborations to strengthen their market position and enhance their product base.

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Leading companies operating in the global Phototherapy market include:

Wellton Healthcare, GE healthcare, Phoenix Medical Systems, Nice Neotech Medical Services Pvt. Ltd., National Biological Corp. and Atom Medical Corporation

Global Phototherapy market segmentation:

Therapy Type (Revenue, USD Million; 2016–2028)

  • Ultraviolet B (UVB)
  • Psoralen UV A (PUVA)

Disease Type (Revenue, USD Million; 2016–2028)

  • Skin Disease:
  • Psoriasis
  • Eczema
  • Vitiligo
  • Acne
  • Other
  • Mood and Sleep Disorders
  • Cancers and Pre-cancers
  • Neonatal Jaundice
  • Other Diseases

End Use (Revenue, USD Million; 2016–2028)

  • Home
  • Hospitals
  • Clinics

Device Type (Revenue, USD Million: 2020-2028)

  • CFL
  • Lamps
  • LED

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Regional analysis covers:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Russia
    • U.K.
    • Germany
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East Africa
    • Saudi Arabia
    • U.A.E.
    • Israel
    • Rest of MEA

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