Wilmington, Delaware, Nov. 29, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Phototherapy Treatment Market value is estimated at US$ 1,882.4 million in 2023 and is expected to rise at a strong CAGR of over 4.5% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Phototherapy, often known as light therapy, is a medical treatment that employs the use of certain wavelengths of light to treat a variety of illnesses. It is often used to treat skin conditions such as psoriasis, eczema, and vitiligo, as well as certain types of infant jaundice. For therapeutic purposes, the skin is exposed to ultraviolet (UV) radiation or certain wavelengths of visible light.
Phototherapy is a non-invasive treatment option, it is a popular choice for people looking for alternatives to systemic drugs or invasive surgeries. Light therapy technology improvements have resulted in the development of more targeted and efficient phototherapy equipment, improving treatment outcomes.
According to a deep-dive market assessment by RationalStat, the global phototherapy treatment market has been analyzed on the basis of market segments, including type, phototherapy type, application, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global phototherapy treatment market covers market sizes on the basis of market value (US$/EUR Million), by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global phototherapy treatment market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Phototherapy Treatment Market: Segmental and Market Share Analysis
- On the basis of phototherapy type, blue light therapy segment dominated the market for psoriasis and acne and it is expected to be the most lucrative segment over the forecast period.
- On the basis of type, acne segment is anticipated to dominate the market with 60% of the total market share.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1,882.4 million |
| Market Size Forecast | US$ 2,560.1 million |
| Growth Rate | 4.5% |
| Dominant Segment | Acne |
| Dominant Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global phototherapy treatment market include.
- In June 2021, Motif Medical announced the release of the BiliTouch phototherapy blanket, which is intended to treat babies with hyperbilirubinemia. It's small, light, and battery-powered, making it perfect for usage in hospitals and households.
Some of the prominent players and suppliers operating and contributing significantly to the global phototherapy treatment market growth include Philips Lighting Holding B.V, GE Healthcare, Natus Medical Incorporated, Hebert Waldmann GmbH & Co. KG, Nice Neotech Medical Systems Pvt. Ltd., Phoenix Medical Systems Pvt. Ltd., Atom Medical Corporation, National Biological Corp., Solarc Systems Inc., and The Daavlin Company, among others.
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RationalStat has segmented the global phototherapy treatment market based on type, phototherapy type, application, end user and region
- Global Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Type
- Psoriasis
- Acne
- Global Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Phototherapy Type
- Blue Light Phototherapy
- Red Light Phototherapy
- Intense Pulsed Light Phototherapy
- Narrowband UVB Phototherapy
- Psoralens + Ultraviolet Light A Phototherapy
- Global Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Application
- Skin Disease Treatment
- Neonatal Jaundice Management
- Global Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by End User
- Hospitals
- Dermatology Clinics
- Wellness Centers
- Home Care Settings
- Global Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Region
- North America Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Phototherapy Treatment Market Value (US$ Million), Volume (Thousand Units), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Phototherapy Treatment Report:
- What will be the market value of the global Phototherapy Treatment market by 2030?
- What is the market size of the global Phototherapy Treatment market?
- What are the market drivers of the global Phototherapy Treatment market?
- What are the key trends in the global Phototherapy Treatment market?
- Which is the leading region in the global Phototherapy Treatment market?
- What are the major companies operating in the global Phototherapy Treatment market?
- What are the market shares by key segments in the global Phototherapy Treatment market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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