Phototherapy Equipment Market

The global Phototherapy Equipment Market is valued at USD 407.1 Million in 2023 and is projected to reach a value of USD 586.4 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 4.20% between 2024 and 2032.

Key highlights

• North America led the market in 2023, securing the largest revenue share of 40.2%
• The Asia Pacific region is poised for remarkable growth, with a high CAGR projected during the forecast period
• In 2023, LED Phototherapy Equipment captured a significant market share of 49.1%
• Skin Disease Treatment held the largest market share of 68.2% in 2023
• Hospitals & Clinics dominated the market in 2023, accounting for the largest market share of 81.5%
• The growing adoption of phototherapy in aesthetic and dermatology clinics for skin rejuvenation, acne treatment, and hair removal further contribute to the market growth

Regional Overview

North America Dominated Sales with a 40.2% share in 2023.

North America's dominance in phototherapy equipment is fueled by the rising incidence of skin disorders such as psoriasis, eczema, and neonatal jaundice, which necessitate phototherapy treatment. For instance, statistics from the Canadian Dermatology Association indicate that acne affects approximately 5.6 million individuals, constituting 20% of Canada's population. Similarly, data from the Asthma and Allergy Foundation of America reveals that approximately 7.3% of U.S. adults are afflicted with eczema, with approximately 40% experiencing moderate to severe symptoms.

North America highlights the region's advanced healthcare system, rising incidence of skin conditions, and expanding use of cutting-edge medical technologies.

The region's strong network of healthcare professionals and facilities and significant healthcare spending drives demand for phototherapy equipment for a variety of dermatological and newborn disorders.

The region is a major contributor to the growth of the Phototherapy Equipment market, as indicated by its strong emphasis on research and development and the strategic efforts taken by healthcare providers to improve patient care and results.

U.S. Market Overview

The US market, valued at USD 130.2 Million in 2023 to USD 172.99 Million in 2032, is anticipated to grow at a CAGR of 3.1% from 2024 to 2032.

The U.S. market for Phototherapy Equipment, significant developments and growth opportunities are evident, driven by several factors such as the robust healthcare infrastructure and a high prevalence of skin disorders such as psoriasis, eczema, and neonatal jaundice, the demand for phototherapy equipment remains strong. For instance, according to the National Eczema Association, about 31.6 million people in the U.S. suffer from eczema, with one in ten individuals expected to experience eczema at least once in their lifetime.

The burgeoning number of newborns is anticipated to drive significant growth in the demand for phototherapy equipment devices. For instance, according to the Centers for Disease Control and Prevention, there was a slight uptick in births in the U.S., with a total of 3,664,292 births recorded in 2022, marking an increase of less than 1%.

The integration of phototherapy into neonatal care offers numerous advantages, including cost reduction in healthcare and the opportunity to maintain infants and their families together during treatment. For instance, according to the Pediatric Medicine Journal, the incidence of jaundice in newborns ranges from 60% to over 90%. Moreover, the National Health Service estimates that approximately six out of ten babies experience jaundice, with the risk escalating to eight out of ten for premature infants.

Product Overview

The LED Phototherapy Equipment segment dominated the market with the largest share of 49.1% in 2023. The Phototherapy Equipment market, segmented by the Product, is bifurcated into Conventional Phototherapy Equipment, LED Phototherapy Equipment, Fiber Optic Phototherapy Equipment. The growing preference for LED-based phototherapy devices due to their enhanced efficacy, reduced heat output, and longer lifespan compared to traditional light sources. With an increasing number of individuals experiencing fine lines and wrinkles, the growth of this segment is expected to be propelled. LED phototherapy Equipment is widely used in both medical and cosmetic settings. It is used to treat skin conditions like psoriasis, eczema, vitiligo, and neonatal jaundice. It is also used in cosmetic operations like skin rejuvenation and acne treatment. For instance, according to MDALGORITHMS INC., approximately 85% of individuals experience acne at some point in their lives. Furthermore, it is estimated that 50 million people in the U.S. will suffer from acne.

Application Overview

In 2023, a significant revenue of 68.2% was generated by Skin Disease Treatment. The Phototherapy Equipment market, segmented by the Application, is divided into Skin Disease Treatment (Psoriasis, Vitiligo, Eczema, Others), Neonatal Jaundice Management. The phototherapy plays pivotal role in treating various dermatological conditions, including psoriasis, eczema, vitiligo, and acne, among others. Phototherapy is widely recognized as an effective treatment modality for these skin diseases, offering targeted light therapy that can alleviate symptoms and improve overall skin health. With the increasing prevalence of skin disorders worldwide and growing awareness about the benefits of phototherapy, the demand for phototherapy equipment for skin disease treatment such as such as acne, vitiligo, and others are expected to continue growing, thus further solidifying its position as a key application segment in the phototherapy equipment market. As phototherapy has demonstrated effectiveness in halting or slowing down the progression of vitiligo, its utilization is expected to rise. Consequently, driven by these factors, the phototherapy equipment market is anticipated to witness expansion during the forecast period.

End-use Overview

In 2023, the Hospitals & Clinics segment dominated the market with the largest share of 81.5%. The market, segmented by the End-use, is bifurcated into Hospitals & Clinics and Homecare. The hospitals and clinics play crucial role in providing phototherapy treatments for various dermatological conditions and neonatal jaundice. In order to provide patients with efficient and focused light therapy, healthcare facilities including hospitals, dermatology offices, and neonatal intensive care units (NICUs) mainly rely on phototherapy equipment. The demand for phototherapy equipment in hospitals and clinics is anticipated to continue growing, further solidifying its position as the leading end-use segment in the market. This is due to the rising prevalence of skin disorders and neonatal jaundice worldwide, as well as the growing adoption of phototherapy as a safe and non-invasive treatment option. This can be ascribed to the growing proliferation of hospitals worldwide. For instance, data from The King’s Fund Organization indicates that the total number of hospitals in the UK reached 141,000 in 2019/20.

Key Trends

• There is a growing trend towards technological advancements for the development of more efficient and user-friendly phototherapy devices. Advancements such as LED-based phototherapy systems, which offer improved efficacy, reduced heat output, and longer lifespan compared to traditional light sources like fluorescent tubes, are gaining traction in the market.
• The increasing adoption of phototherapy in aesthetic and dermatology clinics for various purposes, including skin rejuvenation, acne treatment, and hair removal. The rising demand for non-invasive cosmetic procedures and the effectiveness of phototherapy in addressing various skin concerns are driving its adoption in these settings.
• There is a growing trend towards the development of home-use phototherapy devices for the treatment of mild to moderate skin conditions. These devices offer convenience, privacy, and cost-effectiveness for patients, contributing to their increasing popularity and market growth.
• The integration of Smart Features such as connectivity, remote monitoring, and personalized treatment protocols into phototherapy equipment drives the trend further. These features enhance usability, enable better patient monitoring, and facilitate adherence to treatment regimens, driving market demand.

Premium Insights

The Phototherapy Equipment market is significantly due to the increasing prevalence of skin disorders such as psoriasis, eczema, vitiligo, and neonatal jaundice is a significant factor driving the demand for phototherapy equipment. The market is expanding steadily as a result of growing number of patients and greater awareness of phototherapy's efficacy in treating specific diseases. The market is also growing due to technological developments in phototherapy equipment, such as the use of LED-based systems that have better efficacy and less heat emission. Manufacturers of phototherapy equipment are concentrating on creating cutting-edge, user-friendly products to satisfy the changing demands of patients and healthcare professionals, hence propelling the market forward, as demand for non-invasive cosmetic procedures rises.

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Market Dynamics

The rising incidence of skin disorders serves as a key driver propelling the growth of the market

The prevalence of skin conditions like vitiligo, psoriasis, eczema, and newborn jaundice is rising, which is boosting the need for efficient treatment solutions. With its tailored light therapy that can reduce symptoms and enhance skin health, phototherapy has become a very successful treatment option for various diseases. As awareness about the benefits of phototherapy grows among both healthcare providers and patients, the demand for phototherapy equipment is expected to rise correspondingly, thus boosting market growth. Based on data from Healthline, approximately 150,000 new cases of psoriasis are reported annually in the United States. The growing incidence of psoriasis would propel the need for phototherapy equipment. Furthermore, one serious skin disease that has aided in market expansion is eczema. Neonatal jaundice, another condition necessitating phototherapy treatment to reduce elevated bilirubin levels, further adds to market growth. According to the National Center for Biotechnology Information (NCBI), an estimated 60 to 80% of healthy newborns are susceptible to developing neonatal jaundice. The widespread adoption of LED-based devices has notably accelerated market expansion as it offers cost-effectiveness and boast prolonged durability. ​

One significant restraint facing the market is the high costs associated with phototherapy equipment

The initial investment required for purchasing phototherapy devices, as well as ongoing maintenance and operational expenses, can be substantial. Adoption may be hampered by this, especially in situations with limited resources and tiny healthcare facilities where purchasing pricey medical equipment may not be possible due to financial constraints. Furthermore, patients may be discouraged from pursuing phototherapy treatments due to the high expenses, especially in situations where insurance coverage is either nonexistent or restricted.

Competitive Landscape

The competitive landscape of the Phototherapy Equipment market is characterized by the presence of several prominent players striving to gain a competitive edge through product innovation, strategic partnerships, and geographic expansion. Leading companies in the market are investing significantly in research and development activities to introduce advanced phototherapy devices with improved efficacy, safety, and user-friendliness. Additionally, mergers, acquisitions, and collaborations are prevalent strategies among key market players to expand their product portfolios, strengthen their market presence, and enhance their competitive position. With the increasing prevalence of skin disorders and the growing adoption of phototherapy across various medical and aesthetic applications, competition in the market is intensifying, prompting manufacturers to focus on differentiation and innovation to meet the evolving needs of healthcare providers and patients alike.

The key players in the global Phototherapy Equipment market include - Hebert Waldmann GmbH & Co. KG, National Biological Corp., Solarc Systems Inc., The Daavlin Company, Signify Holding, GE Healthcare, Nice Neotech Medical Systems Pvt. Ltd., Atom Medical Corporation, Phoenix Medical Systems Pvt. Ltd., Natus Medical Incorporated among others.

Recent Market Developments

Koninklijke Philips N.V. Forms Strategic Partnership with Oulu University Hospital to Enhance Healthcare Industry Operations and Outcomes

• In April 2022, Koninklijke Philips N.V. announced that it signed a long-term strategic partnership with Oulu University Hospital in Finland to develop advanced image-guided specialist care to improve operational efficiency and improve outcomes in the healthcare industry.

Omni Partners LLP Acquires Aesthetic Technology Ltd: Expanding Portfolio with Award-Winning Dermalux LED Systems

• In February 2023, Omni Partners LLP (Omni), acquired Aesthetic Technology Ltd (ATL), the manufacturer of the award-winning Dermalux LED systems.

The global Phototherapy Equipment market can be categorized as Product, Application, End Use and Region.