Phototherapy Equipment Market Size, Share, Trends, Growth 2032 |...

Phototherapy Equipment Market Size, Share, Trends, Growth 2032

Posted 2024-08-26 10:56:08

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The phototherapy equipment market is experiencing steady growth, driven by increasing prevalence of conditions like neonatal jaundice and various skin disorders such as psoriasis, eczema, and vitiligo. In 2022, the global market size reached approximately $865.7 million and is projected to grow at a compound annual growth rate (CAGR) of 4.8%, reaching $1.15 billion by 2028.

Key factors contributing to this growth include advancements in LED-based phototherapy equipment, which offers enhanced efficiency and safety, and the rising adoption of home phototherapy solutions. The market is dominated by equipment used in hospitals and clinics, which accounted for around 84% of the revenue in 2023. However, the homecare segment is expected to grow rapidly due to its affordability and convenience.

Geographically, North America, particularly the United States, leads the market, followed by Europe and Asia-Pacific. The increasing availability of cost-effective phototherapy devices, along with growing awareness and healthcare infrastructure improvements, are likely to further fuel market expansion.

Overall, the market is poised for significant development, driven by technological innovations and the rising demand for effective treatment options for dermatological conditions and neonatal jaundice.

For more detailed insights, you can refer to sources like IMARC Group and Reports and Data.

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