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Phototherapy Devices Market

Phototherapy Devices Market

Phototherapy Devices Market by Product (LED-based Phototherapy Devices, Conventional Phototherapy Devices, Fiber Optic Phototherapy Devices), by Light (White Light, Red Light, Blue Light Phototherapy Devices), by Application & Regional Forecast to 2031

Phototherapy Devices Market
FACT76MR
  • Nov-2021
  • List of Tables : 224
  • List of Figures : 69
  • 170 Pages
  • Healthcare

Phototherapy Devices Market Outlook

The global phototherapy devices market reached a valuation of around US$ 750 Mn in 2020, which amounts to around 0.2% share of the overall medical devices market. Sales of phototherapy devices are slated to surge at a CAGR of 7% to top US$ 1.5 Bn by 2031. Demand for LED-based phototherapy devices is set to increase at a CAGR of 6% across the assessment period of 2021 to 2031.

Phototherapy Devices Market Size in 2020 US$ 750 Mn
Sales Forecast for Phototherapy Devices by 2031 US$ 1.5 Bn
Global Market Growth Rate (2021 to 2031) 7% CAGR
Share of Top 5 Companies 40%

Demand Analysis of Phototherapy Devices (2016 to 2020) Vs Market Outlook for 2021 to 2031

As per Fact.MR, a market research and competitive intelligence provider, the global phototherapy devices market was valued at US$ 750 Mn in 2020.

Phototherapy devices are used for treating neonatal jaundice and various skin conditions. These cost-effective phototherapy devices are extensively used in procedures such as reducing bilirubin serum concentration or curing bilirubin toxicity.

Heliotherapy devices are used in treating hyperbilirubinemia in both hemolytic and non-hemolytic conditions. Light therapy devices can effectively reduce the need for frequent blood transfusions. Phototherapy devices are facilitating greater patient convenience and hence witnessing the widespread adoption of phototherapy machines in hospitals and clinics.

Increasing prevalence of skin ailments such as psoriasis and eczema across the globe and the advancement of phototherapy technology is expected to influence the global market for phototherapy devices over the forecast period.

Growing demand for infant phototherapy devices, rising sales of LED-based phototherapy equipment, and the presence of top manufacturers of phototherapy devices are driving the market growth.

All of these factors are expected to drive the market at a 7% CAGR across 2021 to 2031, and raise the utilization of phototherapy devices across regions.

What are the Main Factors Fueling Market Growth for Phototherapy Devices?

As the number of patients with skin conditions continues to soar, the urgency of developing advanced phototherapy treatment modules also grows in parallel.

Introduction of cost-effective phototherapy solutions based on LED technology that is more efficient than conventional devices is bringing hope to patients. Over the years, phototherapy treatment has continuously evolved due to the arrival of new technological peripherals.

Factors as such, have been instrumental in driving the demand for phototherapy machines. Infant phototherapy devices are being increasingly used in treating neonatal jaundice, which is common among newborn babies with high amount of bilirubin levels.

Latest innovations in phototherapy devices, prominent players in the market for phototherapy equipment, and growing demand for technologically advanced phototherapy equipment are expected to fuel the market growth over the next ten years.

What Restraints are Being Faced by Phototherapy Device Manufacturers?

High risk of adverse side-effects and increasing availability of alternative modes of treatments along with strict regulatory norms on new product approvals are some of the major growth deterrents of the light therapy devices market.

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Which Region is a Lucrative Market for Phototherapy Device Suppliers?

In terms of revenue, the phototherapy devices market in North America is expected to remain highly attractive throughout the forecast period. In addition, the North American regional market is projected to expand 1.3X by 2031.

The market for phototherapy devices is expected to witness healthy growth in the region due to the presence of a favorable reimbursement structure, rising use of heliotherapy devices in neonatal jaundice cases, and a growing number of persons suffering from skin illnesses.

In addition, anticipated introduction of new products, rising preference for phototherapy equipment for home care, and growing adoption of advanced phototherapy technology are projected to accelerate market growth in North America.

Phototherapy devices market regional analysis by Fact.MR

Country-wise Analysis

What is the Phototherapy Devices Demand Outlook for the U.S.?

The U.S dominates the global market for phototherapy devices in terms of revenue. The market is expected to increase 1.5X by 2031.

Rising awareness about the benefits of phototherapy, growing concern for seasonal affective disorders, and a high frequency of skin conditions like vitiligo, psoriasis, and eczema are the major factors promoting the adoption of phototherapy devices in the U.S.

Developed healthcare infrastructure and the presence of manufacturers of phototherapy devices in the U.S. are the major drivers for the market growth in the country.

Why are Sales of Phototherapy Devices Surging in China?

Rising awareness of modern phototherapy, high per-capita disposable income, and the expansion of healthcare infrastructure is boosting the sales of phototherapy devices in China.

Moreover, growth in the percentage of newborns in China, an increase in the prevalence of neonatal jaundice, and the necessity for cost-effective devices are all expected to fuel the market growth in China.

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Category-wise Insights

Why are LED-based Phototherapy Devices Gaining Immense Popularity?

LED-based phototherapy devices hold a significant market share. Sales of LED-based phototherapy devices are expected to increase by 2.1X over the forecast period.

LEDs are used as a light source in LED-based phototherapy devices to precisely focus the appropriate wavelength light on the affected area. Furthermore, because of the high amount of radiation, the treatment period associated with LED devices is less than that of conventional devices.

The intensity of LEDs does not decrease over time, and they can be used for at least 3,000 hours. Furthermore, because their spectrum is concentrated in the blue region of visible light, they are less fragile and do not emit high heat.

Rising incidence of newborn jaundice and the expanding acceptance of LED-based phototherapy equipment for target disease management are driving the demand for LED-based phototherapy devices.

Why is Demand for Phototherapy Devices for Skin Disease Treatments High?

Based on application, skin disease treatment is expected to be the largest contributor to the market.

The frequency of skin diseases has increased worldwide, according to the World Health Organization (WHO). The rising prevalence of psoriasis, as well as the expanding need for psoriasis treatment, and latest trends in phototherapy devices are driving the demand for phototherapy to treat skin issues.

Due to increase in skin-related diseases and high recurrence, demand for phototherapy devices to treat skin issues is on the rise, particularly psoriasis, which ranks first, followed by eczema and cancer.

COVID-19 Impact on Industry

COVID-19 has spread widely over the world, with a large number of cases documented in various countries. COVID-19 has had a devastating impact on the lifestyle of people and the global economy.

Because COVID-19 influenced phototherapy equipment manufacturing companies, the need for phototherapy for the treatment of numerous diseases has decreased. Manufacturing has been halted and logistical activities have been halted due to the spread of COVID-19.

Top phototherapy device distributors are resorting to multiple options to deal with the current COVID-19 pandemic scenario. Technology improvements combined with advanced healthcare infrastructure are likely to boost demand for phototherapy devices.

Phototherapy Devices Industry Report Scope

Attribute Details
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis Value in US$ Mn, Volume in Units
Key Regions Covered
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East Africa
Key Countries Covered
  • U.S.
  • Canada
  • Mexico
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • Italy
  • France
  • U.K
  • Nordic
  • Spain
  • Japan
  • China
  • India
  • Malaysia
  • Thailand
  • Australia
  • GCC Countries
  • South Africa
  • Turkey
Key Market Segments Covered
  • Product Type
  • Light Type
  • Application
  • End User
  • Region
Key Companies Profiled
  • Medela AG
  • General Electric Company
  • Natus Medical Incorporated
  • Hill-Rom
  • Solarc Systems Inc.
  • The Daavlin Company
  • Medisana AG
  • Guangzhou Beautylife Electronic Technology Co. Ltd
  • Herbert Waldmann GmbH & Co. KG
  • Philips Lighting Holding B.V.
  • National Biological Corp.
  • Nice Neotech Medical Systems Pvt. Ltd.
  • Phoenix Medical Systems Pvt. Ltd.
  • ALFAMEDIC S.R.O.
  • NINGBO DAVID MEDICAL DEVICE CO. LTD.
  • Heal Force Bio-Meditech Holdings Limited
  • Natus Medical Incorporated and DIXION
Pricing Available upon Request

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

- FAQs -

The global phototherapy devices market is currently worth more than US$ 750 Mn.

From 2016-2020, sales of phototherapy devices registered a CAGR of 4%.

Increasing incidence of neonatal jaundice and growing preference for LED-based phototherapy devices are driving market growth substantially.

Medela AG, General Electric Company, Natus Medical Incorporated, Hill-Rom, and Solarc Systems Inc. are some of the renowned phototherapy device manufacturers.

North America holds 40% global market share, and will largely contribute to the growth of phototherapy devices revenue.

Sales of phototherapy devices in Germany will most likely flourish at a CAGR of 4% over the next ten years.

LED-based phototherapy devices continue to be the highest revenue-generating segment accounting for 55% global revenue share.

Sales of phototherapy devices in Australia are forecasted to reach over US$ 300 Mn by 2031.

The U.S., China, Germany, Australia, and Russia are expected to drive most of the demand for phototherapy devices.

Sales of phototherapy devices are expected to surge at 7% CAGR from 2021-2031.

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