Phototherapy Global Market Report 2022: Rise in Adoption of LED-Based Phototherapy Boosts Sector

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Apr 06, 2023, 20:45 ET

DUBLIN, April 6, 2023 /PRNewswire/ -- The "Phototherapy Market By Device Type, By Application, By Therapy Type, By End-use, By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

In 2021, the global phototherapy market was valued at USD 389.5 million, with an estimated revenue compound annual growth rate (CAGR) of 4.8% during the forecast period.

The market growth is being driven by the increasing adoption of LED-based phototherapy, greater awareness of skin diseases, and the introduction of advanced phototherapy equipment.

Phototherapy, also known as light therapy, uses Ultraviolet (UV) light to promote healing. It is widely used around the world to treat chronic skin conditions, such as eczema, vitiligo, and severe psoriasis. Unlike other medical treatments, which may have a general impact on the immune system, UV radiation can target the local immune system of the skin. Phototherapy can also delay the development of thick, scaly skin in conditions such as psoriasis, and increase the activation of melanocytes, which produce skin pigmentation. It is a preferred treatment option for those who prefer natural therapies, want to avoid steroids, or have more control over their treatment.

Phototherapy is an effective therapeutic treatment for many dermatological conditions and has a significant impact on their management. Non-ionizing radiation from the UV region of the electromagnetic spectrum is carefully administered to the skin, using a variety of techniques, such as Ultraviolet A (UVA), Ultraviolet A-1 (UVA-1), Psoralen-Ultraviolet A (PUVA), and Ultraviolet B (UVB) radiation, including Narrowband Ultraviolet B phototherapy (NB-UVB) or Broadband Ultraviolet B (BB-UVB) therapy. Recently, on 22 August 2022, Sewon NC, based in Korea, announced its plans to launch Organic Light-emitting Diode (OLED)-based phototherapy solutions for pain management and skin conditions. The flexible OLED optical patch, developed by KAIST, is less than 1 mm thick and can be easily fastened to the body. The patches have produced positive results in preclinical experiments, and Sewon aims to expand their use to treat various skin conditions, such as wrinkles, skin cancer, dementia, and other skin disorders.

Rising adoption of LED-based phototherapy

The increasing adoption of LED-based treatments is a major driver of revenue growth in the global phototherapy market. Phototherapy utilizes light radiation to treat physical or mental ailments, with cells and tissues responding differently depending on the wavelength and therapeutic dosage of the light. One key benefit of LED-based phototherapy is the increase in collagen levels in the skin, which can reduce the appearance of wrinkles and other signs of aging. LED light therapy can also be used to treat acne, dermatitis, eczema, psoriasis, rosacea, scarring, and sun damage. Additionally, LED light therapy has an antimicrobial effect that can effectively kill various types of bacteria that contribute to breakouts by clogging pores and oil glands. In a study, LED phototherapy treatment improved acne in 77% of cases after five weeks. To drive further revenue growth of LED-based phototherapy, major companies are launching new and advanced technologies. For example, Elipsa, the latest LED light treatment from LightStim, seamlessly integrates with BeautyHealth's Syndeo next-generation HydraFacial system and is expected to experience exponential growth in 2022. The new LightStim Elipsa enhances treatment outcomes and the provider experience, and is now available for retail and business use in the United States, with plans for international expansion in partnership with Syndeo.

Side effects and risks associated with phototherapy treatment

Phototherapy is a popular treatment technique that uses light radiation to treat various physical and mental ailments, but it also has some associated risks. The most significant risk is the exposure to UV rays, which can damage skin cells and accelerate the aging process, a condition commonly referred to as "photoaging." Prolonged exposure to artificial UV radiation has been linked to an increased risk of developing skin cancer. Recent research suggests that PUVA therapy may increase the risk of skin cancer, while narrowband UVB therapy does not. Additionally, phototherapy can suppress the immune system, making the body more susceptible to illnesses, infections, and skin malignancies. After receiving photodynamic therapy or PUVA treatments for cancer, patients may also experience increased sensitivity to light, which can lead to ocular injury if exposed to strong light sources such as sunlight. Cataracts may also develop as a result of phototherapy. These potential risks may impede the growth of the global phototherapy market.

Key Takeaways

Outlook for Device Types:

The global phototherapy market is categorized into three device types: Compact Fluorescent Light (CFL), LED, and lamps.

During the forecast period, the LED segment is anticipated to experience the highest revenue compound annual growth rate (CAGR). The demand for LED-based phototherapy has increased over the years, particularly for neonatal jaundice therapy in infants.

LED-based phototherapy equipment is used to target specific diseases and accurately focus on the affected area with the appropriate wavelengths. Compared to other devices, LED-based equipment is capable of treating damaged areas in less time. This advantage encourages individuals to choose LED-based phototherapy, which can also treat skin conditions such as fine wrinkles, psoriasis, and acne.

As the number of people with skin problems such as acne rises, the adoption of LED-based phototherapy equipment is expected to increase. According to MDALGORITHMS INC, 85% of people may develop acne at some point in their lives, while nearly 60% of Americans are uncomfortable with their skin due to wrinkles and other skin-related disorders, as reported by Pushups, LLC. This may result in an increase in the adoption of phototherapy equipment with LEDs, and drive market revenue growth during the forecast period.

Outlook for Applications:
The global phototherapy market is divided into five application segments: skin diseases, mood and sleep disorders, cancers & pre-cancers, neonatal jaundice, and other diseases.

In 2021, the skin diseases segment held the largest revenue share, driven by the increasing prevalence of various skin diseases. The market sector is expected to perform well due to common skin conditions such as vitiligo and eczema. The segment is also anticipated to experience revenue growth in the future, with increased use of the therapy.

The neonatal jaundice segment is projected to have the highest revenue compound annual growth rate (CAGR) during the forecast period, owing to the growing number of infants and the rising rates of newborn jaundice worldwide. For instance, phototherapy is commonly used to treat neonatal jaundice in the United Kingdom, where 5-10% of infants delivered at term receive the therapy. Additionally, the number of births has increased globally.

In the first quarter of 2021, 13,700 infants were born in Norway, which is 700 more than in the first quarter of 2020, according to the country's quarterly demographic statistics. Therefore, revenue growth for the neonatal jaundice segment is expected to increase significantly during the forecast period.

Therapy Type Outlook

The global phototherapy market is segmented based on therapy type, which includes Ultraviolet B (UVB) and Psoralen Ultraviolet A (PUVA). The UVB segment accounted for the largest revenue share in 2021, and is further divided into broadband UVB and narrowband UVB. Broadband UVB uses a wide range of UVB rays, while narrowband UVB uses a smaller, more intense part of UVB to treat skin conditions. Narrowband UVB is currently the most common type of light therapy used, although broadband UVB has been used historically.

Patients with severe psoriasis can benefit from UVB, although it may not work for those with very pale skin or psoriasis that worsens in the sun. No treatment, including phototherapy, has a permanent curative effect on psoriasis.

On the other hand, the Psoralen Ultraviolet A (PUVA) segment is expected to have the fastest revenue CAGR during the forecast period. PUVA is a combination of UVA light and a plant-derived chemical called psoralen, which can be applied to the skin or taken as a pill. Under the influence of UVA radiation, the psoralen molecule can integrate into the DNA of bacteria, viruses, and fungal organisms, harming them and stopping reproduction. This amplifies the impact of UVA light on the skin if present at the time of exposure. When combined with UVA light, PUVA therapy is efficient in treating a range of skin disorders, thanks to its heightened sensitivity. However, it is important to note that psoralens do not influence skin or skin problems on their own.

End-use Outlook

The global phototherapy market is segmented by end-use into clinics, hospitals, dermatology centers, and homecare. The hospital segment held the largest revenue share in 2021, which can be attributed to the widespread availability of hospitals globally. Hospitals utilize sterilization techniques to treat patients with skin diseases, and they have adopted new digital technologies that enhance therapeutic efficacy by increasing accuracy and user safety. A recent study published in June 2022 found that NB-UVB therapy was effective and safe for treating non-segmental vitiligo, despite some patients being classified as nonresponders. The study also reported that the effectiveness of phototherapy can be increased when used in combination with systemic corticosteroids, topical calcineurin inhibitors, certain antioxidants, and combination therapy. Furthermore, on September 9th, 2022, the U.S. Food and Drug Administration approved deucravacitinib (Sotyktu, Bristol Myers Squibb) for the treatment of adults with moderate to severe plaque psoriasis who are candidates for systemic therapy or phototherapy.

Regional Outlook

Regional analysis shows that North America holds the largest market revenue share in 2021. This is mainly due to the region's significant impact on determining the global market size for phototherapy. The demand for phototherapy products in the region for skin treatment is a key driver of revenue growth, along with technological developments and access to adequate infrastructure.

The high prevalence of skin disorders such as eczema in the US is also a contributing factor. Additionally, the use of innovative technology in the phototherapy procedure is driving revenue growth in North America.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Phototherapy Market Segmentation & Impact Analysis
4.1. Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rise in adoption of LED-based phototherapy
4.2.2.2. Increasing awareness around skin diseases
4.2.2.3. Launch of technologically advanced phototherapy equipment
4.2.3. Market restraints analysis
4.2.3.1. Higher cost of installation
4.2.3.2. Side effects and risks associated with phototherapy treatment
4.2.3.3. Limited adoption of phototherapy in developing countries

Chapter 5. Phototherapy Market By Device Type Insights & Trends

Chapter 6. Phototherapy Market By Application Insights & Trends

Chapter 7. Phototherapy Market By Therapy Type Insights & Trends

Chapter 8. Phototherapy Market By End-Use Insights & Trends

Chapter 9. Phototherapy Market Regional Outlook

Chapter 10. Competitive Landscape

Chapter 11. Company Profiles

Companies Mentioned

General Electric Company
Signify Holding
Natus Medical Incorporated
Phoenix Medical System (P) Ltd
Herbert Waldmann GmbH & Co. KG
Atom Medical Corp.
The Daavlin Company
Little Sparrows Technologies
nice Neotech Medical Systems Pvt. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/coar7j

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