Phototherapy Device Market Overview:

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Phototherapy Device Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Phototherapy Device Market, with forecasts outspreading to the year 2030.

Projected Growth Trajectory for Phototherapy Device Market: 

Phototherapy Device Market size was valued at US$ 599.23 Mn in 2023 and the total revenue is expected to grow at CAGR 4.1 % through 2024 to 2030, reaching nearly US$ 793.86 Mn.

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Phototherapy Device Market Scope and Methodology:

The main objective of the study is to provide a comprehensive examination of the global Phototherapy Device market, focusing on a market-oriented approach. This involves understanding the market's dynamics, significant trends, growth drivers, obstacles, and potential opportunities. Data is gathered from primary and secondary research techniques. Primary data collection includes interacting with essential stakeholders in the Phototherapy Device market, including manufacturers, suppliers, distributors, retailers, end-users, and industry experts, via interviews and surveys. Information obtained from sources such as industry reports, market analyses, company websites, annual reports, trade journals, government publications, and databases constitutes secondary data.

Phototherapy Device Market segmentation is carried out using various factors such as product, component, size and installation location, and geographical regions like North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Additionally, a prediction model is developed by using past data, current market trends, and future estimates to estimate the market's size and potential growth during the expected timeframe. An in-depth analysis of the competitive environment is carried out, exploring the market strategies, product portfolios, technological advancements, and market positioning of key players. This in-depth examination aims to offer practical insights and support informed decision-making for stakeholders in the Phototherapy Device industry.

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Phototherapy Device Market Segmentation:

by Types

Conventional Phototherapy Market
LED Based Phototherapy Market
Fiber Optic Phototherapy Market

The markets for conventional phototherapy, LED-based phototherapy, and fiber optic phototherapy comprise the phototherapy device market. 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. In 2023, this segment brought in a revenue of 184.00 million.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.

by Application

Skin Disease Treatment
Psoriasis
Vitiligo
Eczema
Neonatal Jaundice Management

The treatment of skin diseases and neonatal jaundice are the two segments of the phototherapy device market. 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 favor 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 2023, jaundice affects the majority of newborns.

by End-User

Hospital and Specialty Clinic
Home User

The hospital and specialty clinic, as well as home user segments, make up the phototherapy device market. The sector for hospitals and specialty clinics, which was valued at USD 378.0 Mn in 2023, is predicted to have the largest market share.The majority of patients choose hospital-based care due to the availability of new technology and hospital amenities.

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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

Phototherapy Device Market Regional Insights:

The Phototherapy Device Market report is segmented into numerous key countries. Countries like North America, United States, Canada, Mexico, Europe, United Kingdom, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN countries, other APAC countries, South America, Brazil, and the Middle East and Africa.

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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 2023?
• What is the growth rate of the Phototherapy Device Market?
• Which are the factors expected to drive the Phototherapy Device Market growth?
• What are the upcoming opportunities and trends for the Phototherapy Device Market?
• What segments are covered in the Phototherapy Device Market?
• Who are the key players in the Phototherapy Device Market?
• What are the different segments of the Phototherapy Device Market?
• Who are the leading companies and what are their portfolios in Phototherapy Device Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Phototherapy Device Market?
• What growth strategies are the players considering to increase their presence in Phototherapy Device?
• What is the CAGR at which the Phototherapy Device Market will grow during the forecast period?
• Which is the fastest growing region in the Phototherapy Device Market?

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Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by different segment | 2024−2030
• 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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