By 2031, sales of phototherapy equipment are expected to reach US$ 1.5 Bn, growing at a CAGR of 7%. From 2021 to 2031, the demand for LED-based phototherapy equipment is anticipated to grow at a CAGR of 6%.
In 2020, the market for phototherapy equipment was estimated to be worth over US$ 750 Mn, or roughly 0.2% of the total market for medical devices.
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What are the Main Factors Fueling Market Growth for Phototherapy Devices?
The need for creating sophisticated phototherapy treatment modules is increasing as the number of patients with skin disorders rises. Patients now have hope thanks to the introduction of efficient phototherapy options based on LED technology that are more affordable than traditional equipment. Due to the introduction of new technology accessories over time, phototherapy treatment has continued to advance.
Such factors have played a significant role in boosting the market for phototherapy equipment. Devices for infant phototherapy are being used more frequently to treat neonatal jaundice, which is common in newborns with high bilirubin levels.
The market is anticipated to rise as a result of recent developments in phototherapy devices, well-established companies in the phototherapy equipment industry, and rising consumer demand for technologically advanced phototherapy equipment.
Key Players Covered:
- Medela AG
- General Electric Company
- Natus Medical Incorporated
- 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
Why are LED-based Phototherapy Devices Gaining Immense Popularity?
Devices for phototherapy using LEDs dominate the market. Over the forecast period, sales of LED-based phototherapy devices are anticipated to rise by 2.1X.
In order to accurately focus the right wavelength of light on the affected area, LEDs are employed as the light source in LED-based phototherapy equipment. In addition, treatment times for LED devices are shorter than for conventional devices due to the high radiation exposure.
LEDs can be used for at least 3,000 hours without losing any of their brightness. Additionally, they are less fragile and do not release much heat because their spectrum is concentrated in the blue part of the visible light spectrum.
Key Segments Covered in Phototherapy Devices Industry Research
- Product Type
- LED-based Phototherapy Devices
- Conventional Phototherapy Devices
- Fiber Optic Phototherapy Devices
- Mobile Infant
- Fixed Infant
- 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
- Skin Disease Treatment
- Neonatal Jaundice Management
- Seasonal Affective Disorder (SAD)
- Skin Cancer
- End User
- Home Care Settings
- Dermatology Clinics
Keeping eyes wide open tactics the market research should be unbiased which is often helpful in learning from own weaknesses and strengths. This based on capitalizing novel found information regarding the rivals will help in getting ahead of others in marketplaces. This market research report on Phototherapy Devices is intended to provide details on market factors that are likely to influence the business in the coming years. The study has been crafted by FactMR’s research team, analysts, and domain experts to keep precise in terms of information and facts.
Some of the important questions covered in this study are as follows:
- What are the prominent growth factors that will harness growth for the Phototherapy Devices Market during the forecast period?
- Which end-use industry will garner considerable growth for the Phototherapy Devices Market?
- Which region will emerge as a champion growth contributor during the assessment period?
- What are the obstacles surrounding the Phototherapy Devices Market?
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