Phototherapy Equipment Market By Product Type (Fluorescent Lamps, Compact Fluorescent Lamps, Fiberoptic Phototherapy Equipment, LED Phototherapy Equipment, and Conventional Phototherapy Equipment), By Application (Neonatal Jaundice, Vitiligo, Eczema, Skin Diseases, Others), By End-User (Hospitals, Clinics, and Others), and Geography  

Phototherapy Equipment Market was valued at USD 392.3 million in 2023 and is poised to grow at a CAGR of 4.1% from 2024 to 2030. owing to the extensive use of non-invasive phototherapy for treating neonatal jaundice, also known as hyperbilirubinemia. According to research, globally, every year about 1.1 million babies develop hyperbilirubinemia and the vast majority reside in South Asia and Sub-Saharan Africa. The increased number of premature births, the prevalence of unusual physiologic conditions, dehydration, anaemia, and unusual levels of bilirubin in infants are anticipated to accelerate the growth of the phototherapy equipment market. Treatment with blue light dominates the phototherapy equipment market as it prevents morbidity and mortality for severe cases of neonatal jaundice by breaking down bilirubin in the blood, allowing the infant to excrete the excess bilirubin before it can accumulate and cause permanent brain damage (kernicterus) or death.

Moreover, the recent discovery in December 2022 of a metabolomic-based biomarker allows doctors to determine the duration of phototherapy without overexposing the infant to phototherapy providing opportunities for key companies for implementation of new technology to boost the phototherapy equipment market. Additionally, infrared light therapy is used tremendously in the beauty industry for people suffering from fine lines, acne, and wrinkles and is expected to help the segment propel. For instance, according to MDALGORITHMS INC., 85% of people experience acne at some point in their lives further increasing the demand for the phototherapy market. But the rise in the use of alternative modes of treatment and the stringent FDA regulatory policies for the approval of new devices are expected to hinder the growth of the phototherapy equipment market. However, the expansion of the healthcare infrastructure, the quick development of affordable phototherapy equipment, the widespread use of home phototherapy for the treatment of skin conditions, and increased disposable income are expected to lead to considerable growth in the market in the forecasted years.

Phototherapy Equipment Market Key Developments:

• In February 2023, Omni Partners LLP (Omni), acquired Aesthetic Technology Ltd (ATL), the manufacturer of the award-winning Dermalux LED systems.
• In March 2020, TheraLight, LLC, an FDA-registered manufacturer and distributor of cutting-edge light therapy products, acquired the assets from Theralight, Inc., a manufacturer of phototherapy devices.