North America Phototherapy Equipment Market Analysis and Forecast by 2024

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The global market for phototherapy equipment is increasing significantly owing to rise in prevalence of neonatal jaundice; growth in incidence of skin diseases across developed and emerging markets such as psoriasis and eczema; and new technological developments in the industry such as use of LEDs and CFL lamps. Rising prevalence of skin diseases is expected to drive the growth of the phototherapy equipment market globally. As per the report published in 2016 by World Health Organization (WHO), more than 100 million people worldwide were affected by psoriasis, where in some countries the incidences for psoriasis were as low as 0.9% and as high as 11.2%. Increase in acceptance and widespread of phototherapy treatment and rise in health care expenditure are further expected to drive the phototherapy equipment market. Further, the ease of use of equipment and limited need for expert observation have helped in widespread of this treatment. However, availability of alternatives to phototherapy such as medications and other medical treatments such as lasers are expected to restrain the growth of this market. Some selective adverse effects related to prolonged phototherapy exposure are expected to restrain the growth of the phototherapy equipment market, though the percentage of populations to have adverse effects is minimal.

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Phototherapy is a medical treatment procedure which uses light to cure medical conditions. The principle of phototherapy was derived from therapeutic features of ultraviolet rays of sunlight. Phototherapy is used to treat various medical conditions such as psoriasis, eczema, vitiligo, various skin diseases, and neonatal jaundice. Phototherapy uses a specific wavelength of ultraviolet light exposed for a specific interval of time and in some cases at specific time of the day. Phototherapy equipment uses different light sources such as light-emitting diodes (LEDs), lasers, and fluorescent lamps. Phototherapy involves irradiation with ultraviolet A (320 to 400 nm wavelength), ultraviolet B (280 to 320 nm wavelength), and visible light (400 to 700 nm wavelength). In most of the skin phototherapy treatments, UVB rays are exposed, which are further categorized into narrowband and broadband. Neonatal jaundice treatment uses wavelengths in range of visible light (400–500 nm), filtering out harmful UV rays. In some cases, a sensitizer agent such as psoralen is used which increases the effect of UVA rays on the skin; this treatment is called PUVA or in some instances photo chemotherapy. Generally, PUVA is advised to patients who do not respond to UVB therapies and for some special conditions such as pustular psoriasis and hand & foot eczema. According to American Cancer Society, UV light therapy is effective in treatment of certain types of cancer.

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Based on type of equipment, the phototherapy equipment market is categorized into conventional fluorescent phototherapy equipment, LED phototherapy equipment, and fiber optic phototherapy equipment. Conventional fluorescent phototherapy equipment is further segmented into fluorescent tube lamp phototherapy equipment and compact fluorescent lamp equipment. Fiber optic phototherapy equipment has fluorescent lamps or LEDs as the light of source in its light and rays are carried to a phototherapy blanket using a fiber optic cable. LED photo therapy equipment is the most widely used owing to its lower recurring costs and long life. Fiber optic phototherapy equipment is a promising segment due to its portability and technical advancements.

By application, the phototherapy equipment market can be segmented into skin care treatment and neonatal jaundice treatment. The skin care treatment segment can be further categorized into psoriasis treatment, eczema treatment, and other skin care treatment. Rise in prevalence of skin diseases is expected to contribute a major share in the growth of the global phototherapy equipment market.

Based on end-user, the global phototherapy equipment market can be segmented into hospitals, clinics, home care settings, and others. The others segment comprises facilities such as ambulatory surgical centers and nursing homes.

Geographically, the global phototherapy equipment market is segmented into five major regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America leads the phototherapy equipment market owing to preference for new medical technologies, vast health care infrastructure, and growth in health care expenditure. However, Asia Pacific is anticipated to grow at a significant rate owing to rise in prevalence of various skin disease and increase in health care expenditure. Strategic expansion of key players in this region and presence of many small and medium scale industries operating in this region are expected to drive the phototherapy equipment market. China and India are anticipated to be highly lucrative markets in this region. Europe holds the position of second largest market for phototherapy equipment across the globe owing to awareness about health care and growth in expenditure on health care, especially in western European countries.

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Most of the players in the phototherapy equipment market are focused in developing technologically advanced and cost efficient devices on the virtue of offering solution to customers such as comfort, compact, and easy to use devices. Major players operating in the market include Philips Lighting Holding B.V., GE Healthcare, Herbert Waldmann GmbH & Co. KG, Drägerwerk AG & Co. KGaA, National Biological Corporation, Atom Medical Corporation, Solarc Systems Inc., Nice Neo tech Medical Systems Pvt. Ltd., Natus Medical Incorporated, and Kernel Medical Equipment Co. Ltd.

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