Phototherapy Lamps Market Demand 2022: Strong Pipeline to Rapidly Surge Growth
The growing acceptance of phototherapy as a safer option for treating skin disorders has fueled global sales of Phototherapy Lamps. According to a recent FMI research report, the global phototherapy lamps market is expected to expand at a 6.8% CAGR during the forecast period. According to the report, more than US$ 4.1 billion in phototherapy lamps will be sold globally by the end of 2026.
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According to the report’s regional insights, North America will continue to dominate the global phototherapy lamps market in terms of revenue throughout the forecast period. The adoption of phototherapy as a safer treatment option for skin disorders has increased significantly in the US and Canada’s healthcare markets. Consumer lifestyles in North America will continue to increase the prevalence of common skin diseases, which will primarily be treated with phototherapy lamps. Furthermore, North America’s dominance in the global market has been supported by a robust infrastructure for the adoption of phototherapy lamps. According to the report, phototherapy lamps sold in the United States and Canada will generate nearly $700 million in revenue in 2017.
LED-based phototherapy lamps to register highest sales
According to the study, LED-based phototherapy lamps are the best-selling products on the global market. The low risk of burns, low cost of production, and ease of installation will continue to drive demand for LED-based phototherapy lamps in the near future. The LED segment will account for nearly US$ 1.6 billion in revenue in the global phototherapy lamps market by the end of 2026. According to the study, demand for UV-based phototherapy lamps will be strong, while halogen lamps will lose traction near the end of the forecast period.
Skin care clinics to emerge as the largest end-user of phototherapy lamps
According to the report, hospitals will initially experience high traction in terms of end-users, but skin care clinics are expected to have the highest revenue share in the global market. Phototherapy lamps used in skin care clinics are expected to generate more than US$ 1.6 billion in revenue by the end of 2026.
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Growing effectiveness of phototherapy in psoriasis treatment to drive the sales of phototherapy lamps
Phototherapy lamps will be primarily used in the treatment of psoriasis due to their applications. Phototherapy lamps sold for the treatment of psoriasis are expected to bring in more than $500 million in 2017. The use of phototherapy lamps in the treatment of neonatal jaundice is expected to grow at the fastest CAGR of 8.1% during the forecast period.
Leading manufacturers of phototherapy lamps have been profiled in the report. Koninklijke Philips N.V., General Electric Company, Drägerwerk AG & Co. KGaA, Bistos Co. Ltd., TSE SPOL. S. R. O., The Daavlin Company, Fanem Ltda., Herbert Waldmann GmbH & Co. KG, Natus Medical Incorporated, and Schulze & Bohm GmbH are expected to actively partake in the expansion of the global phototherapy lamps market through 2026.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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