Phototherapy Devices Market Size to Reach USD 758.6 Million in 2027 | Industry Trend – Increasing Prevalence of Neonatal Jaundice Across the Globe and Increasing Adoption of LED-Based Phototherapy

Emergen Research has published its latest report titled, “Phototherapy Devices Market By Product (LED, Fibreoptic, Conventional Phototherapy Devices), By Application (Neonatal Jaundice Management, Skin Disease Treatment), By End Use (Homecare, Hospitals & Clinics), and Region Forecasts to 2027”

According to Emergen Research, the global phototherapy devices market size was USD 530.3 million in 2019 and is expected to reach USD 758.6 million in 2027 and register a revenue CAGR of 4.6% during the forecast period, 2020-2027.   

Market Dynamics: 

Phototherapy is an effective treatment in which light waves are used to treat various skin conditions such as psoriasis, vitiligo, lichen planus, itchy skin, eczema and cutaneous t-cell lymphoma. It also helps in lowering the levels of bilirubin and is thus widely used for treating neonatal jaundice. The treatment aims to reduce the growth of the skin cells and treat underlying skin inflammation under ultraviolet light. The phototherapy devices are rapidly gaining traction owing to increasing incidence of skin disorders, neonatal jaundice, and increasing number of preterm and low weight births across the globe. Phototherapy has a high recovery rate as compared to other conventional methods.

Revenue growth of the market is attributable to factors such as increasing preference for home-based phototherapy, availability of advanced and user-friendly phototherapy devices for homecare settings and clinics, and launch of advanced equipment. In addition, increasing awareness about skin diseases and advanced treatment options, increasing healthcare spending in developing economies, and increasing investments in research and development activities are expected to fuel market growth during the forecast period.

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However, factors such as high usage of alternative treatments, short-term effects such as interference with maternal-infant interaction, thermal imbalance, and water loss and electrolyte disturbance are expected to hamper overall market growth to a certain extent during the forecast period. In addition, stringent FDA regulations for new product approvals and increasing adoption of refurbished phototherapy devices are other factors expected to hamper market growth going ahead.

COVID-19 Impact Analysis 

• Social distancing and restrictions severely disrupted businesses and operations
• Lockdowns caused disruptions in transportation and logistics
• Impacted manufacturing activities and mining operations globally
• Took a toll on economy of various countries
• Caused sudden and drastic downturn in economic activity
• Disrupted agriculture, fisheries, dairy, and other sectors
• Caused loss of employment and financial crisis
• Supply impacts were further compounded owing to reduced disposable income
• Emergence of variants continue to cause concerns and impact normal routines

LED Phototherapy Devices Segment to Account for Largest Revenue Share:

The LED phototherapy devices segment is expected to account for largest revenue share over the forecast period owing to high prevalence of skin diseases such as eczema, vitiligo, and psoriasis across the globe, and increasing adoption of LED phototherapy devices for treating jaundice in newborns. These devices are highly preferred due to low costs, high effectiveness, longer shelf life, and short treatment duration.  

Homecare Segment to Register Steady Revenue Growth: 

The homecare segment is expected to register steady revenue growth during the forecast period. Factors such as availability of affordable homecare phototherapy devices, high presence for homecare treatment to reduce patient hassle, chances of hospital-acquired infections, and long waiting hours at hospitals are expected to drive revenue growth of the segment. 

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Asia Pacific to Register Rapid Revenue Growth: 

Asia Pacific is expected to register rapid revenue growth over the forecast period owing to increasing incidence of neonatal jaundice and skin diseases across the region, improving healthcare infrastructure, and increasing healthcare spending. Other factors such as rising awareness about skin diseases and available treatment options, favorable government initiatives, and high focus on developing advanced phototherapy devices at affordable prices are expected to fuel Asia Pacific market growth going ahead. 

Major Companies in the Market Include:

• Natus Medical Incorporated
• Philips Lighting Holding B.V.
• GE Healthcare
• Atom Medical Corporation
• Herbert Waldmann GmbH & Co. KG
•  Phoenix Medical Systems Pvt. Ltd.
• Nice Neotech Medical Systems Pvt. Ltd.
• Solarc Systems Inc.
• National Biological Corporation
• The Daavlin Company

For the purpose of this report, Emergen Research has segmented the global phototherapy devices market on the basis of product, application, end use, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

• LED-Based Phototherapy Devices
• Fibreoptic Phototherapy Devices
• Conventional Phototherapy Devices
  • Fluorescent Lamps
  • Compact Fluorescent Lamps

Application Outlook (Revenue, USD Billion; 2017-2027)

• Neonatal Jaundice Management
• Skin Disease Treatment
  • Vitiligo
  • Eczema
  • Psoriasis

End Use Outlook (Revenue, USD Billion; 2017-2027)

• Homecare
• Hospitals & Clinics

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Regional Outlook (Revenue, USD Billion; 2017–2027)

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

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