Increased Demand for Phototherapy Products for Skin Treatment...

Increased Demand for Phototherapy Products for Skin Treatment Driving North America Market Revenue Growth

Posted 2023-04-17 07:58:24

According to a recent report by Reports and Data, the global Phototherapy Market was worth USD 389.5 Million in 2021 and is predicted to have a compound annual growth rate (CAGR) of 4.8% during the forecast period. LED-based treatments are driving revenue growth in the global phototherapy market share.

Phototherapy is a treatment that uses light radiation to cure physical or mental ailments. Depending on the wavelength and therapeutic dose of the light, cells and tissues can respond differently.

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LED-based phototherapy is becoming increasingly popular because it can increase collagen levels in the skin, which can reduce the appearance of wrinkles and other signs of ageing. LED light therapy is also used to treat acne, dermatitis, eczema, psoriasis, rosacea, scarring, and sun damage. LED light treatment has an antibacterial effect that helps to kill germs that can accumulate in pores and oil glands, leading to outbreaks.

The global phototherapy market is divided into five applications: skin diseases, mood and sleep disorders, malignancies and pre-cancers, newborn jaundice, and other illnesses. The skin diseases category accounted for the greatest revenue share in 2021 due to the increasing incidence of different skin disorders among individuals.

Vitiligo and eczema are two common skin conditions that can help drive the market sector's operation, and the increased usage of the treatment is expected to promote segment revenue growth in the near future.

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North America is predicted to have the largest market revenue share in 2021, according to regional analysis. North America is expected to have a significant market share due to its significant impact in determining the global phototherapy market size. The region's high demand for phototherapy products for skin treatment is the primary driver of market revenue growth. Additionally, technological advancements, availability of suitable infrastructure, and an increase in infant jaundice and skin disorders in the region are driving market revenue growth.

Little Sparrows Technologies' bili-hut was granted FDA clearance on November 16, 2021, for home-based phototherapy treatment for newborns with jaundice, reducing healthcare costs and keeping newborns and their families together throughout treatment. The equipment delivers high-intensity phototherapy on par with NICU-level treatments. It is portable, foldable, lightweight, and energy-efficient enough to run on batteries. The bili-hut can be used in hospitals, at home, or in a variety of settings, including rural and resource-limited areas, and can be easily cleaned with standard hospital sanitizing chemicals.

The market report profiles General Electric Company, Signify Holding, Natus Medical Incorporated, Phoenix Medical System (P) Ltd, Herbert Waldmann GmbH & Co. KG, Atom Medical Corp., The Daavlin Company, Little Sparrows Technologies, and nice Neotech Medical Systems Pvt. Ltd.

For the purpose of this report, Reports and Data has segmented the global Phototherapy industry into Device Type Outlook, Application Outlook, Therapy Type Outlook, End-use Outlook, and Regional Outlook. The device types include CFL, LED, and Lamps, while the therapy types include Ultraviolet B, Broadband UVB, Narrowband UVB, and Psoralen Ultraviolet A. The application types include Skin Diseases, Mood and Sleep disorders, Cancers and Pre-cancers, Neonatal jaundice, and Other Diseases. The end-use outlook includes Clinics, Hospitals, Dermatology Centers, and Homecare. Finally, the regional outlook includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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