-- The global Phototherapy Devices Market is expected to reach USD 758.6 Million by 2027, according to a new report by Emergen Research
Phototherapy is a minimally invasive medical practise that employs light to treat skin disorders such as jaundice, psoriasis, dermatitis, and vitiligo. Phototherapy devices are medical devices that emit a specific range of light known as the therapeutic spectrum to treat certain illnesses. Because of the rising prevalence of skin problems worldwide, the market for phototherapy equipment is constantly expanding.
The growing prevalence of skin disorders, technological improvements in phototherapy devices, and the increasing acceptance of LED-based phototherapy devices are the primary drivers of the phototherapy devices market. The rising prevalence of skin illnesses such as psoriasis and eczema is a significant market driver. According to the World Health Organisation (WHO), psoriasis affects about 2% of the global population, while eczema affects 15% to 20% of children and 1% to 3% of adults. Furthermore, technological advances in phototherapy devices, such as the development of LED-based phototherapy devices, are projected to drive market expansion. LED-based phototherapy devices use less energy and last longer than classic phototherapy equipment.
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However, the high cost of phototherapy devices, as well as the hazards connected with their use, are some of the market's significant limitations. The cost of phototherapy devices is a substantial impediment to market expansion, particularly in underdeveloped nations with inadequate healthcare infrastructure. Furthermore, the hazards connected with the usage of these devices, such as skin burns and eye impairment, are impeding market expansion.
The phototherapy devices market is likely to be driven by a number of growth factors in the coming years. The growing demand for home-based phototherapy devices is likely to drive market expansion. Home-based phototherapy devices are more convenient and cost-effective than hospital-based phototherapy equipment, and they allow patients to get treatment in the privacy of their own homes. Furthermore, the growing use of phototherapy equipment in emerging economies such as India and China is likely to provide considerable development prospects for market participants.
Due to the increasing frequency of skin disorders, technological improvements in phototherapy devices, and the increasing acceptance of LED-based phototherapy devices, the phototherapy devices market is likely to rise at a rapid pace in the coming years. However, the expensive cost of phototherapy devices, as well as the hazards connected with their use, are important market limitations. The rising demand for home-based phototherapy equipment, as well as their increasing usage in emerging nations, are likely to provide significant potential possibilities for market participants
Phototherapy Devices Market Market Segmentation:
The phototherapy devices market is segmented based on product outlook, application outlook, and end-user outlook. In terms of product outlook, the market is segmented into LED-based phototherapy devices, fibreoptic phototherapy devices, and conventional phototherapy devices such as fluorescent lamps and compact fluorescent lamps. LED-based phototherapy devices dominate the market with a share of 55.8% in 2019 due to their energy efficiency, long lifespan, and precise targeting of specific skin conditions. The market for LED-based phototherapy devices is expected to continue to grow in the coming years due to their cost-effectiveness and convenience.
In terms of application outlook, the market is segmented into neonatal jaundice management and skin disease treatment such as vitiligo, eczema, and psoriasis. The skin disease treatment segment is the largest segment in the market due to the high demand for phototherapy devices in healthcare settings. Hospitals and clinics are the primary providers of medical treatment for skin conditions, and phototherapy devices are an essential part of their medical equipment. The growing prevalence of skin diseases and the increasing adoption of phototherapy as a standard treatment option in healthcare settings are expected to drive the growth of this segment in the phototherapy devices market.
In terms of end-user outlook, the market is segmented into homecare and hospitals and clinics. The hospitals and clinics segment dominated the market due to the high demand for phototherapy devices in healthcare settings. Hospitals and clinics have the necessary infrastructure, equipment, and trained personnel to provide safe and effective treatment using phototherapy devices. Moreover, hospitals and clinics offer a range of phototherapy services, such as full-body phototherapy and targeted phototherapy, which cannot be replicated in home-based settings. The homecare segment is expected to grow at a significant rate in the coming years due to the increasing availability of portable and home-based LED phototherapy devices.
The report also provides a regional analysis of the market, with a focus on North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Some Key Highlights From the Report:
· LED-based phototherapy devices dominate the phototherapy devices market with a share of 55.8% in 2019. LED-based devices are more energy-efficient and have a longer lifespan compared to traditional phototherapy devices, making them more cost-effective in the long run. Moreover, LED-based devices emit a narrow band of light that targets specific skin conditions, such as psoriasis and vitiligo, with greater precision and efficacy. This has led to a shift in preference towards LED-based devices among healthcare professionals and patients alike. Additionally, the increasing availability of portable and home-based LED phototherapy devices has further driven the demand for these devices in the market. The growing demand for LED-based phototherapy devices is expected to continue in the coming years due to their cost-effectiveness, efficacy, and convenience.
· The hospitals and clinics segment dominated the phototherapy devices market due to the high demand for these devices in healthcare settings. Hospitals and clinics are the primary providers of medical treatment for various skin conditions, and phototherapy devices are an essential part of their medical equipment. These devices are used for the treatment of skin diseases such as psoriasis, eczema, and vitiligo, which require professional medical supervision. Hospitals and clinics have the necessary infrastructure, equipment, and trained personnel to provide safe and effective treatment using phototherapy devices.
· The Asia-Pacific region is expected to be the fastest-growing segment in the phototherapy devices market over the forecast period. This growth can be attributed to various factors, such as the increasing prevalence of skin diseases, improving healthcare infrastructure, and rising healthcare expenditure in the region. According to a report by the Asian Dermatological Congress, the prevalence of psoriasis in Asia is estimated to be around 0.3% to 1.2%, and the prevalence of vitiligo is estimated to be around 0.1% to 2%. The increasing incidence of these skin conditions has led to a rise in demand for phototherapy devices in the region.
· Key participants 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, and The Daavlin Company, among others.
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