What is Global Phototherapy Apparatus Market?
The Global Phototherapy Apparatus Market is a sector that focuses on the production and distribution of phototherapy apparatuses. Phototherapy is a medical treatment that utilizes light to improve health. These apparatuses are used to treat a variety of conditions, including skin diseases like psoriasis and neonatal jaundice. The market is driven by the increasing prevalence of these conditions and the growing awareness of the benefits of phototherapy. The global market was valued at US$ 395.5 million in 2023 and is projected to reach US$ 575.9 million by 2030, growing at a CAGR of 5.4% during the forecast period 2024-2030.
Conventional, LED, Fiberoptic in the Global Phototherapy Apparatus Market:
The Global Phototherapy Apparatus Market is segmented into conventional, LED, and fiberoptic based apparatuses. Conventional phototherapy apparatuses are the traditional form of treatment and are widely used due to their effectiveness and affordability. LED-based apparatuses, on the other hand, are gaining popularity due to their energy efficiency and longer lifespan. Fiberoptic based apparatuses are the latest innovation in the market, offering targeted treatment with minimal side effects. Each of these segments has its own set of advantages and disadvantages, and their growth in the market is determined by factors such as technological advancements, cost, and patient preference.
Hospitals, Skin Care Centers, Home in the Global Phototherapy Apparatus Market:
The Global Phototherapy Apparatus Market finds its usage in various areas such as hospitals, skin care centers, and homes. In hospitals, these apparatuses are used to treat patients with severe skin conditions and newborns with jaundice. Skin care centers also utilize these apparatuses for treating various skin conditions and for cosmetic purposes. The use of phototherapy apparatuses at home is also increasing, driven by the growing trend of home healthcare and the availability of portable and user-friendly devices.
Global Phototherapy Apparatus Market Outlook:
The market outlook for the Global Phototherapy Apparatus Market is promising. Phototherapy, a medical treatment that involves exposure to light sources, is gaining traction in the healthcare sector. The global market for these apparatuses, valued at US$ 395.5 million in 2023, is expected to reach US$ 575.9 million by 2030. This growth represents a CAGR of 5.4% during the forecast period of 2024-2030. When compared to the global pharmaceutical market, which is projected to grow at a CAGR of 5% over the next six years, the phototherapy apparatus market holds its own. The chemical drug market, estimated to increase from 1005 billion in 2018 to 1094 billion U.S. dollars in 2022, also provides a context for the growth of the phototherapy apparatus market.
| Report Metric | Details |
| Report Name | Phototherapy Apparatus Market |
| Accounted market size in 2023 | US$ 395.5 million |
| Forecasted market size in 2030 | US$ 575.9 million |
| CAGR | 5.4% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | GE Healthcare, Atom Medical, Draeger, Herbert Waldmann, Natus Medical, Daavlin, Beurer, National Biological, DAVID, Solarc Systems Inc., UVBioTek, MTTS Asia, Nice Neotech |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
