New York, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the phototherapy equipment market will grow from USD 543.07 Million in 2022 to USD 879.56 Million by 2032. The phototherapy equipment market is witnessing a rise in demand due to the increasing prevalence of vitiligo, psoriasis and eczema. Investments in developing advanced medical technologies will substantially grow the phototherapy equipment market.
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Key Insight of the Phototherapy Equipment Market
North America to account for the largest market size during the forecast period.
North America will have the most major phototherapy equipment market share during the forecast period. The factors supporting the growth of the regional phototherapy equipment market include the large number of manufacturers developing advanced phototherapy equipment that can be used to treat various skin diseases. The growing number of investments by healthcare institutions in the region provides lucrative opportunities for phototherapy equipment companies.
The conventional phototherapy equipment segment is expected to augment the market during the forecast period.
The product type segment is divided into fiber optic phototherapy equipment, LED phototherapy equipment and conventional phototherapy equipment. The conventional phototherapy equipment segment is expected to augment the market during the forecast period. Compact fluorescent or halogen lamps are used in conventional phototherapy equipment. With their distinctive portability qualities, reduced heat production, power efficiency, and longevity, conventional phototherapy equipment is used to treat skin diseases.
The neonatal jaundice management segment is expected to augment the market during the forecast period.
The application segment is divided into neonatal jaundice management and skin disease treatment. The skin disease treatment segment includes eczema, vitiligo, psoriasis and others. The neonatal jaundice management segment is expected to augment the market during the forecast period. The newborn jaundice affects the skin and eyes of the baby. The skin and eyes turn yellow due to an excess of bilirubin.
The homecare segment is expected to augment the market during the forecast period.
The end-users segment is divided into hospitals and clinics, and home care. The homecare segment is expected to augment the market during the forecast period. In the homecare, phototherapy is carried out using a fibre optic light-emitting blanket or neckband. Many types of phototherapy equipment can be used in homecare settings to treat several skin diseases and neonatal jaundice.
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Market Dynamics
Driver: Rising use of phototherapy in the treatment of neonatal jaundice
To cure neonatal jaundice, phototherapy is still considered the most popular approach. In the neonatal ICU, paediatrics, well-baby nursery, or at home, phototherapy units are used. Excess indirect bilirubin in the blood is the most frequent cause of newborn jaundice, and phototherapy can help reduce bilirubin concentration. The impact of wavelengths and light intensity is also noted, even though blue light alone is not the determining factor. The most widely used phototherapy devices have a relatively basic mechanical design, with the above-placed bulbs supplying the necessary light intensity. The infant's skin with jaundice is exposed to blue light with a wavelength of 400–520 nm as part of phototherapy. To prevent bilirubin poisoning, the light interacts with the bilirubin in the baby's skin to create isomers of bilirubin that the neonate can eliminate through the colon and urine.
Restraint: Potential side effects
Interference with maternal-infant interactions, an imbalanced thermal environment, hydration loss, electrolyte disturbance, bronze baby syndrome, and circadian rhythm problems are a few of the short-term adverse effects of phototherapy. Some of the additional long-term negative effects of phototherapy include skin cancer, melanocytic nevi, allergic illnesses, and retinal impairment. Therefore, to reduce the adverse effects of phototherapy, it is required to develop evidence-based guidelines, novel light devices and alternative agents, and individualised therapies.
Opportunity: Advancement in technology
With recent developments, phototherapy blankets that may be wrapped around a newborn are now available and are more portable than older phototherapy equipment. Modern technology has produced a new phototherapy device that provides efficient treatment without the drawbacks of traditional phototherapy. The system's use of superior biocompatible materials and electrical fabrication techniques eventually makes phototherapy more effective. New phototherapy equipment and medical and surgical treatment options have been created due to technological advancements, and both can be used in conjunction with phototherapy to get the best outcomes. The growing investment in the medical devices market is leading to the development of high-tech phototherapy equipment.
Challenges: Stringent regulations for product approval
Phototherapy equipment must pass more stringent regulations and meet a higher standard of effectiveness. Medical devices' performance, hazards, effectiveness, and safety must be clearly defined and appropriately regulated. These regulations affect product launches, which eventually limit the growth of the phototherapy equipment market.
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Some of the major players operating in the Phototherapy Equipment market are:
• Philips Lighting Holding B.V
• Natus Medical Incorporated
• GE Healthcare
• Nice Neotech Medical Systems Pvt. Ltd.
• Hebert Waldmann GmbH & Co. KG
• Phoenix Medical Systems Pvt. Ltd.
• National Biological Corp.
• Atom Medical Corporation
• The Daavlin Company
• Solarc Systems, Inc.
Key Segments Cover in the Market:
By Product Type:
• Fiber Optic Phototherapy Equipment
• LED Phototherapy Equipment
• Conventional Phototherapy Equipment
By Application:
• Neonatal Jaundice Management
• Skin Disease Treatment
o Eczema
o Vitiligo
o Psoriasis
o Others
By End-users:
• Hospitals and Clinics
• Homecare
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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