Global Phototherapy Market: In certain medical conditions, phototherapy is used for the treatment purpose.

The global phototherapy equipment market size was valued at USD 554.4 million in 2020 and it is expected to reach USD 744.45 million by 2027, is anticipated to witness a CAGR of 4.3% over the forecast period. In certain medical conditions, phototherapy is used for the treatment purpose. In various skin diseases sunlight is considered good for the treatment.

The radiation of the sun that is the ultraviolet rays especially the UVA and UVB are used for the phototherapy. The equipment that is used for the emission of the radiations is in large demand. Phototherapy is used for the treatment of neonatal jaundice. The global phototherapy equipment market is segmented by type, application, and end-user. On the basis of type, the global market is segregated into fiber optic phototherapy equipment, convectional phototherapy equipment, and LED phototherapy equipment. The convectional phototherapy equipment segment is further sub-segmented into conventional phototherapy equipment with a fluorescent lamp and conventional phototherapy equipment with compact fluorescent lamp. Based on the end user, the market is categorized into home users and hospitals and clinics. The different applications of the phototherapy equipment market include neonatal jaundice management and skin disease treatment. The skin disease treatment segment is sub-segmented into psoriasis, eczema, vitiligo, and others.

The narrow band UVB is the majorly used equipment owing to the benefits that it provides such as quick clearing, faster disease recovery, and reduced amount of sun burn, thus triggering its demand in the global phototherapy equipment market. In cases of vitiligo and psoriasis the UVB is used as it helps in regimentation of skin and it can be tolerated by both adults and children. The other factors that are affecting the growth of the phototherapy equipment market are the advancements that are made in the field and the increasing awareness among the consumers in the developing countries. The increasing demand for the professionals of the health sector for the advanced phototherapy products is compelling the market players to provide quality products is driving the growth of the market. Another factor that is increasing the demand of the market is the rising cases of the chronic diseases and dermatological disorders. Superior technological advancements and the product specifications that are unique are giving new opportunities in the market. The stringent regulation that is imposed regarding the use of the equipment and the high cost that is involved are some factors that are restraining the phototherapy equipment market growth.

The region that holds the major market share in the global market is North America followed by Europe and Asia-Pacific. The Asia-Pacific region is growing fast in the phototherapy equipment market due to the factors such as the advancements that are made in the field by the market players and the increasing adoption of the therapy in the countries such as India and China. Another factor that is contributing to the market in the Asia Pacific region is the increasing cases of people suffering from dermatological infections and neonatal jaundice. The factors that help North America to dominate the global market are growing demand for the health care facilities and the increased investments that are made for the technological advancements of the phototherapy equipment.

The major market players in the phototherapy equipment market include Nice Neotech Medical Systems, General Electric Company (GE Healthcare), UVBioTek, LLC, Solarc Systems, Inc., Herbert Waldmann GmbH & Co. KG, National Biological Corp., Honle UV America, Inc., Koninklijke Philips N.V., and ibis Medical Equipment & Systems Pvt. Ltd.