The global phototherapy lamps industry is experiencing significant growth, with a projected valuation of US$ 6,551.8 million by 2033, up from US$ 3,381.4 million in 2023. This forecast indicates a substantial increase in market share, with a Compound Annual Growth Rate (CAGR) of 6.8% expected between 2023 and 2033.
A key driving force behind this growth is the burgeoning trend of home-based phototherapy. Patients seeking quick and cost-effective treatment options are increasingly opting for phototherapy in the comfort of their own homes, eliminating the need for frequent clinic visits. Manufacturers are responding to this demand by developing adjustable, portable, and user-friendly phototherapy lights, empowering patients to take control of their treatment regimen.
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This trend not only offers greater flexibility and convenience but also aligns with the broader shift toward telemedicine and patient-centric care. Patients managing chronic skin conditions such as psoriasis and vitiligo stand to benefit significantly from this approach, as it allows for more personalized and accessible treatment options.
Manufacturers are concentrating on boosting energy efficiency, durability, and therapeutic effects as LED (light-emitting diode) technology advances. As LED phototherapy lights become more inexpensive, they will be available to more patients and healthcare professionals. LED technological advancements also allow for exact control of light wavelengths, ensuring that the best therapeutic spectrum is given for various purposes, including treating skin diseases and mental disorders, which boosts their demand in the market.
Phototherapy lamps are also being used innovatively outside medicine, particularly in the cosmetics and beauty sectors. These lights are advertised for improving general skin health, anti-aging therapies, and skin rejuvenation. Consumer desire for non-invasive, non-surgical beauty treatments is driving the trend, which is encouraging physicians and aestheticians to work together to provide light-based cosmetic procedures.
Due to patient-centric treatment, technical advancements, and growing applications, the market for phototherapy lamps is undergoing a paradigm shift. The juxtaposition of these factors highlights the market’s development potential, and it is set to experience considerable growth in the coming years,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from the Phototherapy Lamps Market Report:
- In 2018, the global market stood at US$ 2.422.8 million.
- The market size expanded at a 5.6% CAGR from 2018 to 2022.
- The global market size is US$ 3,176.3 million in 2023.
- In 2022, the LED segment gained 37.4% of the phototherapy lamps market share.
- In 2022, psoriasis remained the leading application segment, occupying nearly 26.6% of the phototherapy lamps market share.
- India’s phototherapy lamps market is expected to develop at a 7.8% CAGR through 2033.
- Japan’s phototherapy lamps market is projected to thrive at a 7.6% CAGR through 2033.
- The United Kingdom’s phototherapy lamps market is anticipated to flourish at a 4.3% CAGR through 2033.
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Competition Analysis of the Phototherapy Lamps Market:
The market is highly competitive due to the presence of both established key players and startups. The market is distinguished by ongoing R&D efforts to improve treatment effectiveness, user-friendliness, and energy efficiency. General Electric Company, Koninklijke Philips N.V., and Dragerwerk AG & Co. KGaA are some of the key market players driving the global sales of phototherapy lamp. Overall, competition encourages innovation and expands access to phototherapy treatments.
Key Companies Profiled:
- General Electric Company
- Koninklijke Philips N.V.
- Dragerwerk AG & Co. KGaA
- Natus Medical Incorporated
- Bistos Co. Ltd.
- Fanem Ltda.
- Herbert Waldmann GmbH & Co. KG
- The Daavlin Distributing Co
- Schulze & Bohm GmbH
- TSE spol. S R.O.
- LightStim
Recent Developments in the Phototherapy Lamps Market:
- In June 2022, BeautyHealth introduced ElipsaTM, the latest LED light therapy innovation from LightStim® that seamlessly integrates with the Syndeo HydraFacial system. The new LightStim Elipsa improves treatment results and provider satisfaction.
- Heamac, a company located in Hyderabad, stated in January 2021 that it was developing a portable phototherapy device in an effort to lower the rate of jaundice-related fatalities.
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Key Segments:
Product Type
- LED
- UV LIGHT
- Halogen Lamps
End User
- Hospital
- Skin care clinics
- Home care Setting
- Other End Users
Application
- Psoriasis
- Vitiligo
- Acne
- Neonatal Jaundice
- Other Application
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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