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Reasons for Remarkable Growth of Global Phototherapy Market during 2015 – 2021 - A Report by Absolute Markets Insights

Published On 21 Sep 2021 09:54 AM


Absolute Markets Insights (AMI) reports a robust forecast for the global phototherapy market during the 2021-2029 period. In its newly released report, AMI states that the global phototherapy market was valued at USD 598.34 Mn in 2020 and it is anticipated to grow at a CAGR of 6.78% over the forecast period.

Rising Incidences of Hyperbilirubinemia

Hyperbilirubinemia is a common yet benign condition in neonates, which refers to the build-up of bilirubin in the blood that causes yellow discoloration of skin and eyes. The yellowness of the skin is owing to build-up of lipid-soluble, unconjugated, nonpolar bilirubin pigment. In cases when low levels of bilirubin are recorded, it usually gets resolved within/by first week. However, in cases of premature birth or any infection, blood disorder, there are high chances of rapid accumulation of bilirubin on a toxic level. It is has been estimated that approximately 80% of the preterm infants and 60% of term infants were affected with hyperbilirubinemia. With the assistance of phototherapy techniques, conversion of bilirubin which is present in subcutaneous tissue and superficial capillaries and interstitial spaces of the skin to water-soluble isomers which are extractable without further breakdown by the liver. Phototherapy is used with an aim to restrain the rising bilirubin level to avoid accumulation which otherwise might lead to a permanent neurological complication called as kernicterus. Phototherapy is used either as a therapeutic or as preventive measure. In preterm babies, it is used as a preventive measure to limit the rise of bilirubin whereas in late-preterm and full-term babies, therapeutic doses are directed to reduce the excessive bilirubin serum levels to avoid the formation of bilirubin encephalopathy. As soon as the skin is exposed to light, photoisomerization of bilirubin begins instantaneously. Thus, phototherapy is regarded as the most important intervention for severe hyperbilirubinemia babies, which is creating huge opportunities for the growth of global phototherapy market.

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Asia Pacific to Grow at the Fastest Rate over the Forecast Period

Rising environmental concerns and high healthcare cost in China has trigged more than 65% of the Chinese parents to adopt mini phototherapy pad products for neonates to treat them with any mild symptoms of jaundice. Mini phototherapy pads are portable devices that are used by parents at home. This product helps in gradually lowering the bilirubin levels in babies. It is designed with an aim for parents who don’t have access to Social Medical Welfare Benefit, thus helping them with the otherwise required medical spending in healthcare facilities. Additionally, across many other Asian countries there are a rising number of depression and mood and sleep disorders cases. Phototherapy offers the potential to treat seasonal affective disorder (SAD) via exposure to artificial light source. SAD is a type of depression that occurs during a particular time of the year, usually winter season. A bright light therapy using a special lamp is designed to treat SAD and individuals often see results within two to four days. Thus, these factors are expected to propel the growth of Asia Pacific region in the global phototherapy market. 

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Competitive Analysis:

The phototherapy market is a highly competitive global landscape. The market is fragmented in nature owing to rising technological innovations in products, global diseases burden and preference of non-invasive techniques by users. Some of the players operating in the phototherapy market are Atom Medical Corp, Daavlin, Drägerwerk AG & Co., GENERAL ELECTRIC COMPANY, Ibis Medical, National Biological Corporation, Natus Medical Incorporated, NeoMedLight, Philips Lighting Holding B.V., Phoenix Medical Systems (P) Ltd, Solarc Systems Inc. and Waldmann Group, amongst others.

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Global Phototherapy Market:

By Offering

  • Products
  • Portable
  • Non-Portable
  • Services

By Application

  • Skin Disorders
  • Psoriasis
  • Vitiligo
  • Eczema
  •   Scleroderma 
  • Others
  • Mood and Sleep Disorders
  •   Seasonal Affective Disorder (SAD)
  •   Circadian Rhythm Sleep Disorders
  • Cancers and Precancers
  • Diseases in New Born Babies

By End-Use

  • Home Users
  • Hospital and Speciality Clinics
  • Others

By Phototherapy Type

  • UVB
  • Broad Band UVB
  • Narrow Band UVB
  • PUVA
  • UVA1
  • Others

By Sales Channel

  • Online
  • Offline

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Press Release Provided By: Absolute Markets Insights