Phototherapy Market Size Worth USD 0.56 Billion by 2030 at 4.50% CAGR – Report by Market Research Future (MRFR)

New York, USA, June 12, 2023 (GLOBE NEWSWIRE) — Phototherapy Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Phototherapy Market Information By Product, Application, End-User, And Region – Forecast till 2030“, the market size was valued at USD 0.4 billion in 2022 and is projected to grow from USD 0.41 Billion in 2023 to USD 0.56 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2023 – 2030). 

Market Scope

Applying ultraviolet (UV) lights for therapeutic purposes is called phototherapy or light therapy. They lessen the frequency of exchange transfusions needed for newborns and safeguard the brain from the neurotoxic consequences of elevated serum unconjugated bilirubin levels. They wrap themselves around the infant to keep track of how long the child will be treated for and how long the light source will last. Medical devices used to treat neonatal jaundice include neonatal phototherapy units. Eczema, vitiligo, and serious psoriasis are among the chronic skin conditions that are treated with phototherapy on a global scale. Additional conditions for which LED light therapy is used include breakout dermatitis, eczema, rosacea, psoriasis, and sun damage.

While many medical procedures weaken the body’s defenses, UV radiation can weaken the skin’s local immune system. Phototherapy treatment can also delay the onset of thick, scaling skin in conditions like psoriasis. Phototherapy therapy is used to treat vitiligo because it has a greater ability to activate melanocytes, the skin’s pigment-producing cells. This renders phototherapy the most effective therapy for everyone, especially for those who detest creams, prefer natural treatments without steroids, and desire greater control using a combination of therapies. Neonatal jaundice can be successfully treated with phototherapy. The neonates receive this treatment, subjected to fluorescent light, which hastens their recovery. Jaundice in newborns is common, but if it lasts long, doctors will use phototherapy equipment to treat the condition.

Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/1844

Report Scope:

Phototherapy Market Competitive Landscape:

The leading contenders in the market of phototherapy are:

• Herbert Waldmann GmbH & Co. KG (Germany)
• Phoenix Medical Systems (P) Ltd (India)
• Signify Holding (Netherlands)
• E. Healthcare (U.S.)
• Natus Medical Incorporated (U.S.)
• Atom Medical Corporation (Japan)
• National Biological Corporation (U.S.)

Phototherapy Market Trends:

Market Drivers:

Additionally, the market for phototherapy equipment gadgets is anticipated to increase due to the growing newborn population. This device is more environmentally friendly, has a lifespan of ten times greater than conventional devices, and is considerably less expensive. Phototherapy is a very effective treatment method in dermatology and has an important influence on managing the symptoms of various skin conditions. To treat various dermatoses, non-ionizing radiation via the ultraviolet (UV) part in the electromagnetic range is meticulously applied to the skin. The rising acceptance of LED-based therapies is one of the major factors boosting the revenue growth of the worldwide phototherapy market share.

Ailments of the body or mind may be treated with phototherapy, which uses light radiation. Following the frequency and therapeutic dose of the illumination, cells, and tissues may react differently. One of the main benefits of LED-based phototherapy is the increase in collagen production levels within the skin, which can reduce the development of wrinkles and other signs of aging.

Restraints

Risks associated with phototherapy include UV rays, which can harm skin cells. They can speed up the visible and tactile signs of aging on the skin. This premature aging of the epidermis is also known as “photoaging.” According to several earlier studies, long-term exposition to artificial ultraviolet (UV) rays has been linked to an increased risk of skin cancer.

COVID 19 Analysis

The market for phototherapy equipment was slightly adversely affected by the COVID-19 pandemic. However, the phototherapy devices market is anticipated to grow in the following COVID-19 pandemic period due to various strategic initiatives adopted by market participants. Market participants undertake initiatives like product launches, geographic growth, and mergers and acquisitions.

Browse In-depth Market Research Report (168 Pages) on Phototherapy: https://www.marketresearchfuture.com/reports/phototherapy-market-1844

Phototherapy Market Segmentation

By product, the market includes LED phototherapy equipment, fiberoptic phototherapy equipment, conventional phototherapy equipment, germicidal lamps, and accessories. By end user, the market includes hospitals & clinics, dermatology centers, and homecare. By application, the market includes skin disease treatment, neonatal jaundice management, and sterilization.

Phototherapy Market Regional Insights

With a revenue share, North America governed the phototherapy equipment market. The region is expected to take over the phototherapy equipment marketplace due to the rising prevalence of skin conditions like vitiligo, eczema, psoriasis, and acne. However, the Asia-Pacific region is anticipated to experience the fastest growth rate during the forecast period. The rapid growth rate is likely responsible for the rise in preterm births and the number of people with skin conditions. However, the Asia-Pacific area is anticipated to experience the fastest growth rate during the forecast period. The fast rate of development is likely responsible for the rise in preterm births and the number of people with skin conditions.

Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=1844

Additionally, acne is common in Asia-Pacific, which is expected to increase the demand for phototherapy equipment. Preterm birth rates and the number of people with skin diseases are rising, which can be blamed for the rapid growth rate. Additionally, the prevalence of acne in Asia and the Pacific is predicted to boost demand for phototherapy machinery. Due to technological advancements and various monetary incentives that encourage people to choose this treatment, the European market is anticipated to grow somewhat over the forecast period.

Discover more research Reports on Healthcare Industry by Market Research Future:

Light Therapy Market Research Report Information By Product (Light Box, Floor and Desk Lamps, Light Visor, HDST, Others), By Application (Psoriasis, Vitiligo, Eczema, Acne Vulgaris, Others), By Light Type (Blue Light, Red Light, White Light, Others) and By End-User (Homecare Settings, Dermatology Clinics, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

Dermatology Diagnostic Device Market Share And Growth Analysis By Diagnostic Device Type (Dermatoscopes, Microscopes, Imaging Devices), By Application (Skin Cancer Diagnostics, Skin Lesion And Others) By End Users (Hospitals, Research Centers, Institutions, And Others) Forecast To 2030

Biophotonics Market Research Report Information Information By Application (Microscopy, See-through Imaging, Light Therapy, Biosensors, Inside Imaging, and Surface Imaging (endoscopy) and Others), By Technology (In-vivo and In-vitro), By End-Use (Medical Therapeutics, Medical Diagnostics, and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Follow Us: LinkedIn | Twitter