The Phototherapy Treatment Market is projected to be valued at USD 1,948.90 million in 2023. The market research report anticipates a valuation of USD 3,230.90 million by 2033. The phototherapy treatment market is expected to record a CAGR of 5.20% during the forecast period.
Phototherapy Treatment Market Trends and Highlights
| Attributes | Key Insights |
|---|---|
| Market Estimated Size in 2023 | USD 1,948.90 million |
| Projected Market Value in 2033 | USD 3,230.90 million |
| Value-based CAGR from 2023 to 2033 | 5.20% |
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Skin diseases are among the most common of all human health afflictions and affect almost 900 million people in the world at any time. Five common conditions account for over 80% of all skin diseases. These may cause rashes, inflammation, itchiness, or other skin changes. Some skin conditions may be genetic, while lifestyle factors may cause others. Skin disease treatment may include medications, creams, ointments, or lifestyle changes.
Phototherapy has emerged as a highly effective approach to addressing many skin problems in recent years. Phototherapy uses light waves to treat certain skin conditions. The skin is exposed to ultraviolet (UV) light for a set amount of time. Phototherapy uses a man-made source of UV light. UV light also comes from the sun. When combined with a medication called psoralen, the procedure is known as psoralen UVA (PUVA).
UV light shuts down immune system cells in the skin. It can help in skin conditions caused by an immune system overreaction. Some conditions that can be cured using this approach include psoriasis, eczema, mycosis fungoides, and vitiligo, among others. As awareness of phototherapy's benefits in treating acne grows among patients and healthcare providers, more individuals are seeking this form of treatment.
| Market Value in 2022 | 1,838.10 million |
|---|---|
| Market Value in 2033 | 3,230.90 million |
Forecast CAGRs from 2023 to 2033
| The United States | 2.30% |
|---|---|
| Germany | 3.10% |
| India | 7.80% |
| China | 6.70% |
The phototherapy treatment market in the United States has been steadily growing, driven by factors such as the increasing prevalence of skin disorders like psoriasis and eczema. The market has benefited from advancements in technology and a growing acceptance of phototherapy as an effective treatment option
The phototherapy market in the United States is well-developed and advanced, with a high prevalence of skin disorders. Technological advancements and a strong regulatory framework contribute to market growth. Accessibility to phototherapy services is relatively good, particularly in urban areas.
The growing population of adult women suffering from acne and psoriasis is an important factor driving revenue growth of the phototherapy segment. The population of adult women is rising at higher rates in the United States. United States is to account for a CAGR of 2.30% by the end of 2023
Germany is a major player in the European phototherapy market. The country has a strong focus on healthcare technology and innovation, leading to advancements in phototherapy equipment. High healthcare standards and insurance coverage support the market. Germany is to account for a CAGR of 3.10% by the end of 2023
The market benefits from ongoing research and development in dermatology and a well-regulated healthcare system with access to phototherapy treatments for various skin disorders. The presence of a substantial aging population contributes to the demand for dermatological treatments.
China is to account for a CAGR of 6.70% by the end of 2023. The phototherapy treatment market in China has been growing rapidly alongside the expansion of healthcare infrastructure. A large population and increasing awareness of dermatological treatments drive the market. The country's emerging middle class seeks access to advanced healthcare services. The market benefits from a strong emphasis on cosmetic dermatology and skin conditions.
Rising awareness of modern phototherapy, high per-capita disposable income, and the expansion of healthcare infrastructure is boosting phototherapy treatment in China. Growth in the percentage of newborns in China, an increase in the prevalence of neonatal jaundice, and the necessity for cost-effective treatment are all expected to fuel the market growth in China.
India is likely to closely follow China in the adoption of phototherapy treatment owing to its huge population base in the country. Regulatory reforms, favorable government policies, and improved healthcare infrastructure are expected to influence present and future market trends positively. India is to account for a CAGR of 7.80% by the end of 2023
The phototherapy market in India is growing due to the rising prevalence of skin disorders and increased healthcare spending. Phototherapy is available in major cities and urban centers, and the market is expanding to smaller towns and rural areas.
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| Category | Market Share |
|---|---|
| Blue Light Therapy | 42.20% |
| Acne | 60.40% |
By phototherapy type, blue light therapy dominated the phototherapy treatment market for psoriasis and acne and is expected to be the most lucrative segment over the forecast period, with a market share of 42.20%.
Blue light therapy has been found to be effective in treating specific skin conditions, such as acne and actinic keratosis. It's particularly beneficial for those who have not responded well to other treatments. Blue light therapy can reduce the number of acne lesions and improve the appearance of the skin. Blue light therapy is a non-invasive and pain-free treatment.
Patients do not experience discomfort during the procedure, making it more attractive, especially to those who are sensitive to pain or prefer non-surgical options.
Blue light therapy typically has minimal side effects. Patients may experience mild redness or temporary skin dryness, but these side effects are generally well-tolerated and short-lived.
The acne segment is expected to be the largest contributor to the market based on disease type. The acne segment is expected to account for a 60.4% share of the phototherapy treatment market in 2023.
Acne is one of the most common skin conditions globally, affecting a significant portion of the population, particularly adolescents and young adults. This widespread prevalence ensures a continuous demand for effective acne treatments.
Phototherapy, including blue light therapy and red light therapy, has demonstrated its efficacy in treating acne. These treatments can reduce the number of acne lesions, minimize inflammation, and improve the skin's overall appearance.
Companies indulged in developing phototherapy treatment therapies are actively seeking to strengthen their position through approval and agreements with established healthcare institutes. Collaborations, mergers & acquisition partnerships with regional players can accelerate their strategy to capture a significant share of the emerging markets.
Some of the developments by players in the phototherapy treatment market are given below-
| Attributes | Details |
|---|---|
| Estimated Market Size in 2023 | USD 1,948.90 million |
| Projected Market Valuation in 2033 | USD 3,230.90 million |
| Value-based CAGR 2023 to 2033 | 5.20% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Market Segments Covered | Disease type, Phototherapy Type, End-User, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Lifespan; UC Irvine Health; Buffalo Medical Group; Blackrock Clinic Limited; The Private Phototherapy Clinic Ltd; National Skin Centre Massachusetts General Hospital; Signify Holding; GE Healthcare; Natus Medical Incorporated |
The phototherapy treatment market is expected to reach USD 1,948.90 million in 2023.
The phototherapy treatment market is set to expand by a CAGR of 5.20% by 2033.
The phototherapy treatment market is forecast to reach USD 3,230.90 million by 2033.
A significant share of profits will likely come from the Industry in North America.
| Market Value 2023 | USD 18.07 billion |
|---|---|
| Market Value 2033 | USD 55.07 billion |
| CAGR (2023 to 2033) | 11.8% |
| Market Value 2023 | USD 1.3 Billion |
|---|---|
| Market Value 2033 | USD 2.4 Billion |
| CAGR 2023 to 2033 | 6.5% |
| Expected Market Value in 2023 | USD 1.2 Billion |
|---|---|
| Projected Market Value in 2033 | USD 2.0 Billion |
| Growth Rate (2023 to 2033) | 4.9% CAGR |
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Phototherapy Treatment Market
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