Phototherapy Device Market Revenue Growth: 4.1% CAGR Leading to USD 793.86 Million by 2030

Phototherapy Device Market Overview:

Maximize Market Research, a Phototherapy Device business research firm has published a report on the “Phototherapy Device Market”. Which provides Industry Analysis (Market Performance, Segments, Price Analysis, and Outlook).

Estimated Growth Rate for Phototherapy Device Market:

The phototherapy device market was estimated to be worth US$ 599.23 million in 2023. From 2024 to 2030, total revenue is anticipated to rise at a compound annual growth rate of 4.1%, or US$ 793.86 million.

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Phototherapy Device Market Report Scope and Research Methodology:

The scope of the Phototherapy Device market analysis encompasses diverse factors, including geographical regions, industry segments, traveller types, and travel service offerings. Research methodologies integrate primary and secondary data collection, employing surveys, interviews, and analysis of industry reports and databases. Assessing the Phototherapy Device market scope involves examining the volume and value of business travel transactions, covering expenditures on transportation, accommodation, dining, and ancillary services. Methodologies aim to identify key trends, challenges, and opportunities influencing the market landscape. This comprehensive approach provides valuable insights for strategic decision-making, aiding businesses in navigating the complexities of the Phototherapy Device sector and capitalizing on growth prospects.

Phototherapy Device Market Regional Insights:

Improved dependability and increasing demand drive growth in the Phototherapy Device Market, particularly in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Geographical observations help investors identify opportunities, with regional evaluations highlighting crucial strategies like mergers and acquisitions. Understanding regional dynamics enables stakeholders to tailor their approaches, leveraging growth prospects and addressing specific Phototherapy Device market needs. This insight is vital for informed decision-making and strategic planning across diverse geographic landscapes.

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Phototherapy Device Market Segmentation:

by Types

Conventional Phototherapy Market
LED Based Phototherapy Market
Fiber Optic Phototherapy Market

The market for phototherapy devices is divided into three segments based on the type of technology: conventional phototherapy, LED-based phototherapy, and fiber 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. 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 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 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 of the phototherapy device market are based on the end user. 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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Table of Content: Phototherapy Device Market

Part 01: Executive Summary

Part 02: Scope of the Phototherapy Device Market Report

Part 03: Global Phototherapy Device Market Landscape

Part 04: Global Phototherapy Device Market Sizing

Part 05: Global Phototherapy Device Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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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

Key questions answered in the Phototherapy Device Market are:

Who are the leading companies and what are their portfolios in Phototherapy Device Market?
What segments are covered in the Phototherapy Device Market?
Who are the key players in the Phototherapy Device market?
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 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?
What segments are covered 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