The Global Phototherapy Treatment Industry is shining a bright light on its future potential, with a projected valuation of US$3,230.90 million by 2033. According to a recent market research report, the market is poised for significant growth, with a Compound Annual Growth Rate (CAGR) of 5.20% anticipated during the forecast period (2023-2033). This translates to a rise from an estimated value of US$1,948.90 million in 2023, highlighting the growing adoption of phototherapy treatments for various medical conditions.
The early beginning of acne in youngsters is associated with distorted eating patterns as well as excessive consumption of fried and ready-to-eat food products. Women also experience the emergence of severe acne and psoriasis as adults. The most lucrative market for phototherapy is North America, followed by Western Europe and Eastern Europe, according to a report titled “North America and Europe Phototherapy Treatment Industry”
Analysis 2012 – 2016 and Opportunity Assessment; 2017 – 2027.” According to projections, the North American market would increase from US$ 594.5 Mn in 2016 to US$ 1,150.0 Mn by the end of 2027. Additionally, the U.S. currently controls more than three-fourths of the market for phototherapy treatments in North America.
The increasing adoption of phototherapy in dermatology clinics and hospitals in Europe is favouring the growth of the market in the region. Moreover, psychological burdens associated with acne and psoriasis are high in the region, compelling patients to seek professional help in the form of prescription treatments, phototherapy, and others. Germany and the UK are two of the major markets for phototherapy in Europe and are expected to remain dominant throughout the forecast period.
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Key Excerpts from the Global Phototherapy Treatment Industry Report Include:
- Market Boom: The market is projected to reach a staggering US$ 3,230.90 million by 2033, reflecting a remarkable CAGR of 5.20%.
- Strong Foundation: In 2023, the market already holds a substantial value of US$ 1,948.90 million.
- Transformative Growth: The coming decade is expected to witness a transformative evolution in the phototherapy treatment landscape.
- Hope for Patients: This growth signifies a positive outlook for individuals seeking innovative and effective treatment options for various medical conditions.
Phototherapy being a high-margin reconstructive technology is perceived as an opportunity for market players to invest in future growth.
- Lifespan,
- UC Irvine Health,
- Buffalo Medical Group,
- Blackrock Clinic Limited,
- The Private Phototherapy Clinic Ltd.,
- National Skin Centre,
- and Massachusetts General Hospital
Global Phototherapy Treatment Industry for Acne and Psoriasis Industry – Taxonomy
By Disease Type
- Psoriasis
- Guttate Psoriasis
- Inverse Psoriasis
- Pustular Psoriasis
- Erythrodermic Psoriasis
- Plaque Psoriasis
- Acne
- Acne Vulgaris
- Acne Conglobata
- Acne Fulminans
- Gram-Negative Folliculitis
- Acne Rosacea
- Pyoderma Faciale
By Phototherapy Type
- Blue Light Phototherapy
- Red Light Phototherapy
- Intense Pulsed Light (IPL) Phototherapy
- Narrowband UVB Phototherapy
- Psoralens+Ultravioletlight A (PUVA) Phototherapy
By End User
- Hospitals
- Dermatology Clinics/Skin Care Centres
- Wellness Centres
- Home Care Settings
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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