The Global Phototherapy Treatment Industry is poised to reach a valuation of US$ 1,948.90 million in 2023, with projections indicating a substantial increase to US$ 3,230.90 million by 2033. Expecting a consistent growth trajectory, the market is forecasted to achieve a Compound Annual Growth Rate (CAGR) of 5.20% throughout the forecast period.
A successful and modern treatment option for psoriasis and acne, which is enjoying recent growth in popularity, is phototherapy. Phototherapy is more inexpensive than biologics while maintaining a similar level of credibility. It is anticipated that the demand for phototherapy will significantly increase over the next couple of years in places like North America and Europe. The North American and European phototherapy treatment market revenue is anticipated to grow at a CAGR of 6.0% over the projected period, according to a recent study from Future Market Insights (2017–2027).
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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 “Global Phototherapy Treatment Industry for Acne and Psoriasis North America and Europe 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.
Key Excerpts from the Report Include:
- Based on end users, hospitals currently account for the largest value share of the Global Phototherapy Treatment Industry for acne and psoriasis in North America and Europe. However, the preference for home care settings among patients is likely to grow shortly.
- Demand for blue light therapy is relatively higher than other phototherapy types in both North America and Europe. This trend is expected to continue throughout the assessment period. The blue light phototherapy segment is estimated to reach a market valuation of US$ 1,067.1 Mn towards the end of 2027.
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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
North America and Europe Phototherapy Treatment for Acne and Psoriasis Market – 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 faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as 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.
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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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