Global Phototherapy Equipment Market Report 2023: Market to Surpass $500 Million by 2030 - Neonatal Jaundice Management Segment Shows Highest Growth Rate

DUBLIN, Oct. 26, 2023 /PRNewswire/ -- The "Phototherapy Equipment Market Size, Share & Trends Analysis Report By Product (Conventional Phototherapy Equipment), By Application (Skin Diseases Treatment), By End-use, By Region, And Segment Forecasts, 2023 - 2030" report has been added to  ResearchAndMarkets.com's offering.

The global phototherapy equipment market size is expected to reach at USD 521.1 million by 2030, registering a CAGR of 3.95% from 2023 to 2030

Rising prevalence of skin diseases across the globe has led to an increased demand for phototherapy equipment. According to healthline data, nearly 150, 000 new psoriasis cases develop each year in U.S.

Thus, rising cases of psoriasis is expected to boost the demand for these devices in near future. Eczema, one of the severe skin diseases, has also contributed to the market growth. Neonatal jaundice is another disease that requires phototherapy treatment to reduce high bilirubin levels.

According to the National Center for Biotechnology Information (NCBI), around 60 to 80% of healthy newborns are likely to develop neonatal jaundice. Furthermore, constant technological advancements pertaining to these will boost the market growth. LED-based devices are being highly adopted, which has further accelerated the growth of the market.

The LED lights are cheaper as compared to conventional equipment and has a long-lasting effect. These lights also have been proved to be very effective for treating neonatal jaundice. Hence, improvement in technology has impacted the growth of the market.

Phototherapy Equipment Market Report Highlights

• Conventional phototherapy equipment segment held the second-largest market share due to wide usage of these devices in skin disease treatment
• LED equipment are expected to witness the highest CAGR over the forecast period due to its cost-effectiveness and long-lasting effect
• The skin disease segment dominated the market with the largest revenue share of 67.4% in 2022. This can be accredited to a rise in the number of various skin diseases such as acne, vitiligo, and others.
• Neonatal jaundice management is expected to grow at the fastest CAGR of 4.5% during the forecast period due to increasing incidence of the disease
• North America led the phototherapy equipment market and accounted for the largest revenue share of 39.0% in 2022 owing to quick adoption of advanced technologies in the field of phototherapy treatment in this region

Company Profiles

• Signify Holding
• GE Healthcare
• Natus Medical Incorporated
• Hebert Waldmann GmbH & Co. KG
• Nice Neotech Medical Systems Pvt. Ltd.
• Atom Medical Corporation
• Phoenix Medical Systems Pvt. Ltd.
• National Biological Corp.
• Solarc Systems Inc.
• The Daavlin Company

Key Topics Covered:

Chapter 1. Methodology and Scope 

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Product outlook
2.2.2. Application outlook
2.2.3. End Use outlook
2.2.4. Regional outlook
2.3. Competitive Insights

Chapter 3. Phototherapy Equipment Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.4. Phototherapy Equipment Market Analysis Tools
3.4.1. Industry Analysis - Porter's
3.4.2. PESTEL Analysis

Chapter 4. Phototherapy Equipment: Product Estimates & Trend Analysis
4.1. Phototherapy Equipment Market: Key Takeaways
4.2. Phototherapy Equipment Market: Movement & Market Share Analysis, 2022 & 2030
4.3. Conventional Phototherapy Equipment
4.3.1. Conventional phototherapy equipment market estimates and forecasts, 2018 to 2030 (USD Million)
4.3.2. Conventional phototherapy equipment with fluorescent lamp
4.3.3. Conventional phototherapy equipment with compact fluorescent lamp
4.4. LED Phototherapy Equipment
4.5. Fiber Optic Phototherapy Equipment

Chapter 5. Phototherapy Equipment: Application Estimates & Trend Analysis
5.1. Phototherapy Equipment Market: Key Takeaways
5.2. Phototherapy Equipment Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Skin Disease Treatment
5.3.1. Skin disease treatment market estimates and forecasts, 2018 to 2030 (USD Million)
5.3.2. Psoriasis
5.3.3. Vitiligo
5.3.4. Eczema
5.4. Neonatal Jaundice Management

Chapter 6. Phototherapy Equipment: End Use Estimates & Trend Analysis
6.1. Phototherapy Equipment Market: Key Takeaways
6.2. Phototherapy Equipment Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Hospitals & Clinics
6.4. Homecare

Chapter 7. Phototherapy Equipment Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Phototherapy Equipment Market by Region: Key Takeaways

Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. Company overview
8.2.2. Financial performance
8.2.3. Product benchmarking
8.2.4. Strategic initiatives

For more information about this report visit https://www.researchandmarkets.com/r/v00m8u

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