The global market for phototherapy equipment is set to experience rapid growth in the coming years, primarily fueled by the increasing prevalence of psoriasis cases. According to the International Federation of Psoriasis Associations (IFPA), the United States alone reports 150,000 new cases of psoriasis annually, affecting approximately 3% of the global population. With a vast pipeline of biologic and biosimilar therapies, rising plaque and psoriatic arthritis rates, and favorable reimbursement policies, the demand for phototherapy equipment is projected to surge.
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Psoriasis is one of the skin conditions treated effectively with LED-based phototherapy equipment. The adoption of LED phototherapy is expected to increase as the number of individuals affected by psoriasis rises. Additionally, LED-based phototherapy has shown promising results in treating other skin problems such as acne and fine wrinkles, further contributing to market growth.
The phototherapy equipment market is also anticipated to expand due to the increasing usage of LED phototherapy equipment, which helps reduce the overall cost of treatment. The equipment emits specific light wavelengths, including narrow-band UVB, which is the most popular and cost-effective form of therapy for various skin conditions.
While the COVID-19 pandemic had a slight negative impact on phototherapy equipment demand, the market is expected to recover post-pandemic, driven by strategic initiatives by industry players, including product launches and geographic expansions.
North America currently holds a significant market share, owing to the rising prevalence of skin disorders and advancements in healthcare infrastructure. However, the Asia-Pacific region is expected to witness faster growth during the forecast period due to an increase in preterm births and skin conditions.
Key players in the phototherapy equipment market include GE Healthcare, Philips Lighting Holding B.V., Natus Medical Incorporated, and others.
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