Phototherapy Device Market Overview

As per Maximize Market Research, a global business research and consultancy firm, the total global market for “Phototherapy Device Market” size was valued at US$ 575.63 Mn in 2022 and the total revenue is expected to grow at CAGR 4.1 % through 2022 to 2029, reaching nearly US$ 762.61 Mn.

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Phototherapy Device Market Scope and Methodology

The report provides an estimation of the market size for the Phototherapy Device market, encompassing an analysis of current and future trends. It offers a detailed examination of key developments, marketing strategies, supply and demand indicators, and company profiles of market owners, leaders, potential players, and new entrants. The Phototherapy Device Market report adopts a bottom-up approach, utilizing both primary and secondary data sources. Primary research involves interviews with significant market leaders and industry experts, including business owners and marketing specialists. Secondary research involves reviewing the financial and annual reports of top manufacturers. To enhance understanding of market penetration, competitive landscape, demand analysis, and regional analysis, the report covers local, regional, and global levels. Segment-wise analysis of the Phototherapy Device market is conducted based on specific criteria.

Market Dynamics for Phototherapy Devices:

increasing rates of low birth weight and preterm birth, as well as an increase in dermatitis and psoriasis worldwide. These are the primary elements propelling the market for phototherapy devices. The American Academy of Dermatology reports that 50 million Americans suffer from acne annually. Aside from this, the need for phototherapy treatment is anticipated to increase significantly over the projection period due to the rise in newborn cases. Continuous technical development is also anticipated to support market expansion.

Phototherapy Device Market Regional Insights

The report presents a comprehensive Regional Analysis, encompassing the current market status of various countries. It offers an in-depth assessment of factors influencing the market, including market size, growth rate, and import-export dynamics within each region. The analysis spans across local and country levels, providing a detailed outlook.

The Phototherapy Device market is strategically divided into key regions: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Each region's unique market characteristics and potential are thoroughly examined, offering valuable insights for businesses and stakeholders seeking to understand the market landscape at a regional level.

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Phototherapy Device Market Segmentation

The market for phototherapy devices is divided into three segments based on the type of technology: conventional phototherapy, LED-based phototherapy, and fibre optic phototherapy. The conventional photography category is expected to have the greatest compound annual growth rate (CAGR) of 3.94% throughout the projection period due to its ability to lower hyperbilirubin levels in newborns and patients with skin conditions. approximately 2021, this segment brought approximately $184,000,000 in revenue.The second-largest segment, LED-based phototherapy, is expected to expand at a compound annual growth rate (CAGR) of 6.0% throughout the projection period.

The phototherapy device market is divided into two segments based on application: skin disease treatment and neonatal jaundice. Treatment for skin diseases is divided into three categories: vitiligo, eczema, and psoriasis. Treatment for skin diseases is expected to expand at the fastest rate of 5.44% during the projected period. As the number of skin disorders rises, individuals always favour phototherapy as a kind of treatment. During the forecast period, neonatal jaundice is anticipated to grow at the fastest rate. According to a recent survey in 2022, jaundice affects the majority of newborns.

Phototherapy Device Market Key Players

1. GE Healthcare 2. Atom Medical 3. Draeger 4. Herbert Waldmann 5. Natus Medical 6. Daavlin 7. Beurer 8. National Biological 9. David 10.Solarc Systems Inc. 11.UVBioTek 12.MTTS Asia 13.Nice Neotech 14.Signify Holding 15.Phoenix Medical Corporation 16.Strata Skin Sciences 17.National Biological Corporation 18.Hill-Rom 19.Medisana AG 20.Schulze & Böhm GmbH

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Key questions answered in the Phototherapy Device Market are:

• What is Phototherapy Device?
• What was the Phototherapy Device market size in 2022?
• What are the different segments of the Phototherapy Device Market?
• What growth strategies are the players considering to increase their presence in Phototherapy Device?
• What are the upcoming industry applications and trends for the Phototherapy Device Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Phototherapy Device Market?
• Who are the key players in the Phototherapy Device market?
• What major challenges could the Phototherapy Device Market face in the future?
• What segments are covered in the Phototherapy Device Market?
• Who are the leading companies and what are their portfolios in Phototherapy Device Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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