Latin America Phototherapy Device Market (2024-2030) | Analysis, Size, Revenue, Trends, Growth, Forecast, Industry, Outlook, Value & Segmentation

Market Forecast By Types (Conventional Phototherapy Device (Fluorescent Lamps & Compact Fluorescent Lamps), Fiber Optic Phototherapy Device and LED Phototherapy Device), By Applications (Skin Disease Treatment (Psoriasis, Eczema, Vitiligo & Others), Neonatal Jaundice Management, Cancers & Pre-Cancers and Other Diseases), By End Users (Hospitals, Clinics, and Homecare), By Countries (Brazil, Mexico, Argentina and Rest of Latin America) and Competitive Landscape.

Product Code: ETC000858 Publication Date: Jan 1970 Updated Date: Jul 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 200 No. of Figures: 90 No. of Tables: 30

Latin America Phototherapy Device Market Highlights

Report Name Latin America Phototherapy Device Market
Forecast period 2024-2030
CAGR 7%
Growing Sector Healthcare

Topics Covered in the Latin America Phototherapy Device Market Report

The Latin America Phototherapy Device Market report thoroughly covers the market by Countries, Types, End Users, and Applications. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Latin America Phototherapy Device Market Synopsis

The Latin America Phototherapy Device Market is expected to witness rapid growth from 2024 to 2030. Factors driving this growth include the rising prevalence of skin diseases and the increasing demand for aesthetic procedures. This market offers potential opportunities for companies operating in the phototherapy device industry.

According to 6Wresearch, the Latin America Phototherapy Device Market size is expected to grow at a significant CAGR of 7% during 2024-2030. One of the major drivers for this growth is the increasing prevalence of skin disorders such as psoriasis, eczema, and vitiligo among the population. Phototherapy has proven to be an effective treatment option for these conditions, thereby fueling the demand for phototherapy devices in the region. Additionally, advancements in technology have led to the development of more efficient and user-friendly phototherapy devices, making them more accessible to a wider range of healthcare facilities and providers. This has further contributed to the market growth.

However, there are some challenges that may hinder the growth of the Latin America phototherapy device market. One of them is the high cost associated with these devices, which can be a barrier for smaller healthcare facilities and patients who cannot afford the treatment. Moreover, strict regulations and guidelines for the use of phototherapy devices in medical settings also pose challenges for manufacturers looking to enter or expand in this market.

Latin America Phototherapy Device Industry Leading Players

One of the key players in the Latin American phototherapy device market is Philips Lighting, a subsidiary of the Dutch multinational conglomerate company, Royal Philips. The company offers a wide range of phototherapy devices for various medical conditions such as jaundice and psoriasis. Another significant player in the market is GE Healthcare, a division of General Electric Company, which provides advanced phototherapy devices for neonatal care. Other prominent players include Atom Medical Corporation, Natus Medical Incorporated,

Herbert Waldmann GmbH & Co. KG, and National Biological Corporation. The competition among these leading players in the market drives innovation and technological advancements, resulting in a diverse range of products catering to different medical needs. Moreover, these companies have a strong distribution network and collaborations with healthcare institutions, contributing to their dominating presence in the Latin American phototherapy device market.

Latin America Phototherapy Device Market Government Regulations

The governments in Latin America have been implementing various initiatives to promote the use of phototherapy devices for treating medical conditions effectively. For instance, Brazil's Ministry of Health has launched a national program called Stork Network that provides free access to neonatal phototherapy treatment for newborns with jaundice. Similarly, Argentina's Ministry of Health has implemented a national strategy for the prevention and treatment of psoriasis, which includes the provision of phototherapy devices in public healthcare facilities. These government initiatives aim to improve the accessibility and affordability of phototherapy devices, especially for low-income families. They also play a crucial role in raising awareness about the benefits of this treatment method, ultimately driving the growth of the phototherapy device market in Latin America.

Future Insights of the Market

The future outlook for the Latin American phototherapy device market is positive. The increasing prevalence of skin diseases and rising healthcare expenditure in the region are major factors driving market growth. Additionally, the adoption of advanced phototherapy devices with improved efficiency and safety features is also expected to contribute to market expansion. Another significant trend in the market is the rising demand for home-based phototherapy devices due to their convenience and cost-effectiveness.

Market Segmentation by Types

According to Ravi Bhandari, Research Head, 6Wresearch, LED phototherapy devices are expected to experience the highest increase in demand due to their efficiency and versatility. LED devices have a longer lifespan compared to conventional phototherapy devices and offer better control over light wavelengths, making them highly effective in treating various skin diseases and neonatal jaundice. Additionally, the increasing popularity of LED devices in homecare settings is expected to contribute to their growth.

Market Segmentation by End-Users

In terms of end-users, the homecare segment is anticipated to experience the fastest growth due to the convenience and cost-effectiveness of receiving treatments at home. More patients are opting for home phototherapy devices as they offer greater comfort and flexibility compared to hospital or clinic visits.

Market Segmentation by Applications

In the applications segment, skin disease treatment is projected to hold the largest market share, fueled by rising incidences of conditions such as psoriasis, eczema, and vitiligo. Skin diseases affect a large portion of the population in Latin American countries, making this application segment a key driver for the phototherapy device market.

Market Segmentation by Countries

Brazil is projected to hold the largest market share among Latin American countries due to its high population and increasing awareness about advanced medical treatments.

Key Attractiveness of the Report

  • 10 Years of Market Numbers.
  • Historical Data Starting from 2020 to 2023.
  • Base Year 2023
  • Forecast Data until 2030.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report

  • Latin America Phototherapy Device Market Overview
  • Latin America Phototherapy Device Market Outlook
  • Latin America Phototherapy Device Market Forecast
  • Historical Data of Phototherapy Device Market Revenues for the Period 2020-2030
  • Latin America Phototherapy Device Market Size and Forecast of Revenues, Until 2030
  • Historical Data of Latin America Phototherapy Device Market Revenues, by Product Types, for the Period 2020-2030
  • Market Size & Forecast of Latin America Phototherapy Device Market Revenues, by Product Types, until 2030
  • Historical Data of Latin America Phototherapy Device Market Revenues, by Applications, for the Period 2020-2030
  • Market Size & Forecast of Latin America Phototherapy Device Market Revenues, by Applications, until 2030
  • Historical Data of Latin America Phototherapy Device Market Revenues, by End Users, for the Period 2020-2030
  • Market Size & Forecast of Latin America Phototherapy Device Market Revenues, by End Users, until 2030
  • Historical Data of Brazil Phototherapy Device Market Revenues, for the Period 2020-2030.
  • Market Size & Forecast of Brazil Phototherapy Device Market Revenues, until 2030.
  • Historical Data of Mexico Phototherapy Device Market Revenues, for the Period 2020-2030.
  • Market Size & Forecast of Mexico Phototherapy Device Market Revenues, until 2030.
  • Historical Data of Argentina Phototherapy Device Market Revenues, for the Period 2020-2030.
  • Market Size & Forecast of Argentina Phototherapy Device Market Revenues, until 2030.
  • Market Drivers and Restraints
  • Latin America Phototherapy Device Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Market Opportunity Assessment
  • Latin America Phototherapy Device Market Share, By Regions
  • Latin America Phototherapy Device Market Share, By Players
  • Latin America Phototherapy Device Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key strategic Recommendations

Markets Covered

The report provides a detailed analysis of the following market segments

By Types

  • Conventional Phototherapy Device (Fluorescent Lamps & Compact Fluorescent Lamps)
  • Fiber Optic Phototherapy Device
  • And LED Phototherapy Device

By Applications

  • Skin Disease Treatment (Psoriasis, Eczema, Vitiligo & Others)
  • Neonatal Jaundice Management
  • Cancers & Pre-Cancers
  • And Other Diseases

By End Users

  • Hospitals
  • Clinics
  • And Homecare

By Countries

  • Brazil
  • Mexico
  • Argentina And Rest Of Latin America
Latin America Phototherapy Device Market (2024-2030); FAQs
Leading players like Philips Lighting, GE Healthcare, and Atom Medical Corporation are operating in this market.
The homecare phototherapy device segment is projected to witness significant growth due to its convenience and cost-effectiveness compared to hospital-based treatments.
Brazil holds the highest market share.
The key challenges faced by the market are the high costs of these devices and strict regulations in using it.
6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
1. Executive Summary
2. Introduction
2.1 Report Description
2.2 Key Highlights of The Report
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3. Latin America Phototherapy Device Market Overview
3.1 Latin America Phototherapy Device Market Revenues, 2020-2030F
3.2 Latin America Phototherapy Device Market Revenue Share, By Product Types, 2020 & 2030F
3.3 Latin America Phototherapy Device Market Revenue Share, By Applications, 2020 & 2030F
3.4 Latin America Phototherapy Device Market Revenue Share, By End Users, 2020 & 2030F
3.5 Latin America Phototherapy Device Market Revenue Share, By Regions, 2020 & 2030F
3.6 Latin America Phototherapy Device Market Industry Life Cycle
3.7 Latin America Phototherapy Device Market- Porter’s Five Forces
4. Latin America Phototherapy Device Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5. Latin America Phototherapy Device Market Trends
6. Latin America Phototherapy Device Market Overview, By Product Types
6.1 Latin America Conventional Phototherapy Device Market Revenues, 2020-2030F
   6.1.1 Latin America Conventional Phototherapy Equipment With Fluorescent Lamp Market Revenues  2020-2030F
   6.1.2 Latin America Conventional Phototherapy Equipment With Compact Fluorescent Lamp Market Revenues,  2020-2030F
6.2 Latin America LED Phototherapy Device Market Revenues, 2020-2030F
6.3 Latin America Fiberoptic Phototherapy Device Market Revenues, 2020-2030F
7. Latin America Phototherapy Device Market Overview, By Applications
7.1 Latin America Skin Disease Treatment Market Revenues, 2020-2030F 
7.1.1 Latin America Skin Disease Treatment Market Revenues, By Vitiligo, 2020-2030F 
7.1.2 Latin America Skin Disease Treatment Market Revenues, By Eczema, 2020-2030F 
7.1.3 Latin America Skin Disease Treatment Market Revenues, By Psoriasis, 2020-2030F 
7.1.4 Latin America Skin Disease Treatment Market Revenues, By Others, 2020-2030F 
7.2 Latin America Neonatal Jaundice Management Market Revenues, 2020-2030F 
7.3 Latin America Cancer  and Pre-cancer Treatment Market Revenues, 2020-2030F 
7.4 Latin America Other Diseases Treatment Market Revenues, 2020-2030F 
8. Latin America Phototherapy Device Market Overview, By End-Users
8.1 Latin America Phototherapy Device Market Revenues, By Hospitals & Clinics, 2020-2030F 
8.2 Latin America Phototherapy Device Market Revenues, By Homecare, 2020-2030F 
8.3 Latin America Phototherapy Device Market Revenues, By Clinics, 2020-2030F 
9. Brazil Phototherapy Device Market Overview
9.1 Brazil Phototherapy Device Market Revenues, 2020-2030F 
9.2 Brazil Phototherapy Device Market Revenues, By Product Types, 2020-2030F
9.3 Brazil Phototherapy Device Market Revenues, By Applications, 2020-2030F
9.4 Brazil Phototherapy Device Market Revenues, By End Users, 2020-2030F
10. Mexico Phototherapy Device Market Overview
10.1 Mexico Phototherapy Device Market Revenues, 2020-2030F 
10.2 Mexico Phototherapy Device Market Revenues, By Product Types, 2020-2030F
10.3 Mexico Phototherapy Device Market Revenues, By Applications, 2020-2030F
10.4 Mexico Phototherapy Device Market Revenues, By End Users, 2020-2030F
11. Argentina Phototherapy Device Market Overview
11.1 Argentina Phototherapy Device Market Revenues, 2020-2030F 
11.2 Argentina Phototherapy Device Market Revenues, By Product Types, 2020-2030F
11.3 Argentina Phototherapy Device Market Revenues, By Applications, 2020-2030F
11.4 Argentina Phototherapy Device Market Revenues, By End Users, 2020-2030F
12. Rest of Europe Phototherapy Device Market Overview
12.1 Rest of Europe Phototherapy Device Market Revenues, 2020-2030F 
13. Latin America  Phototherapy Device Market Opportunity Assessment
13.1 Latin America  Phototherapy Device Market Opportunity Assessment, By Product Types, 2030F
13.2 Latin America  Phototherapy Device Market Opportunity Assessment, By Applications, 2030F
13.3 Latin America  Phototherapy Device Market Opportunity Assessment, By End Users, 2030F
13.4 Latin America  Phototherapy Device Market Opportunity Assessment, By Regions, 2030F
14. Latin America  Phototherapy Device Market Competitive Landscape 
14.1 Latin America  Phototherapy Device Market Revenue Share, By Companies, 2023
14.1.1 Brazil Phototherapy Device Market Revenue Share, By Companies, 2023
14.1.2 Mexico Phototherapy Device Market Revenue Share, By Companies, 2023
14.1.3 Argentina Phototherapy Device Market Revenue Share, By Companies, 2023
14.2 Latin America  Phototherapy Device Market Competitive Benchmarking, By Operating Parameters
15. Company Profiles
16. Strategic Recommendations
17. Disclaimer
 

Market Forecast By Types (Conventional Phototherapy Device (Fluorescent Lamps & Compact Fluorescent Lamps), Fiber Optic Phototherapy Device and LED Phototherapy Device), By Applications (Skin Disease Treatment (Psoriasis, Eczema, Vitiligo & Others), Neonatal Jaundice Management, Cancers & Pre-Cancers and Other Diseases), By End Users (Hospitals, Clinics, and Homecare), By Countries (Brazil, Mexico, Argentina and Rest of Latin America) and Competitive Landscape.

Product Code: ETC000858 Publication Date: Sep 2021 Product Type: Report
Publisher: 6Wresearch No. of Pages: 200 No. of Figures: 90 No. of Tables: 30

Latest 2023 Developments of the Latin America Phototherapy Device Market

Latin America Phototherapy Device Market has seen the latest developments which include the introduction of LED-based phototherapy devices. LED-based phototherapy devices use LEDs as a source of light to focus the wavelength light precisely on the affected area. The time associated with these devices for treatment is much lesser than the conventional phototherapy devices. Additionally, there have been other developments like effective phototherapy treatment, and technological advancements in the field of infant phototherapy. Moreover, assertions made by the Neonatal Biology Department of Latin America regarding the rising levels of bilirubin in infants post 5 days of birth have further paced the adoption and development of more efficient phototherapy devices.

Mergers and Acquisitions:

  • On November 23, 2020, Natus Medical Incorporated announced the acquisition of Babybe GmbH.

Latin America Phototherapy Device Market Synopsis

Rising risks of neonatal jaundice amongst infants are shifting the focus of many surgical operators towards the deployment of phototherapy devices across Latin America. A phototherapy device reduces the level of bilirubin, a yellow compound that occurs in the normal human body promoting pale skin and the hands of newborn babies. Additionally, assertions made by the Neonatal Biology Department of Latin America regarding the rising levels of bilirubin in infants post 5 days of birth are further anticipated to support the market progression of the Latin America phototherapy device market over the coming years.

According to 6Wresearch, the Latin America phototherapy device market size is projected to record progressing growth during 2019-2025. Latin America has been rewarded as an emerging ground for various multinational biotech companies. The biotechnology industry is a vital component in Latin America and acknowledges innovative technologies that may tend to bring advancement in the industry. Additionally, the region has been observed as the fourth largest in the world to commercialize various biotech products. These factors would strengthen the Latin America phototherapy device market over the coming years.

In terms of end-users, the hospitals dominate the overall Latin America phototherapy device market primarily due to the preference of patients towards hospitals for treatment. Whereas, in terms of countries, Brazil accounts for the majority of the market share as the country is supporting a vivacious ground for the growth of the biotechnology industry, which would further support the growth of the Latin America phototherapy device market over the coming years.

The Latin America phototherapy device market report thoroughly covers the market by product types, applications, end-users, and countries including Brazil, Mexico, Argentina, and the Rest of Latin America. The phototherapy device market outlook report provides an unbiased and detailed analysis of the ongoing Latin America phototherapy device market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

 Key Highlights of the Report:

  • Latin America Phototherapy Device Market Overview
  • Latin America Phototherapy Device Market Outlook
  • Latin America Phototherapy Device Market Forecast
  • Historical Data of Phototherapy Device Market Revenues for the Period 2015-2018
  • Latin America Phototherapy Device Market Size and Forecast of Revenues, Until 2025
  • Historical Data of Latin America Phototherapy Device Market Revenues, by Product Types, for the Period 2015-2018
  • Market Size & Forecast of Latin America Phototherapy Device Market Revenues, by Product Types, until 2025
  • Historical Data of Latin America Phototherapy Device Market Revenues, by Applications, for the Period 2015-2018
  • Market Size & Forecast of Latin America Phototherapy Device Market Revenues, by Applications, until 2025
  • Historical Data of Latin America Phototherapy Device Market Revenues, by End Users, for the Period 2015-2018
  • Market Size & Forecast of Latin America Phototherapy Device Market Revenues, by End Users, until 2025
  • Historical Data of Brazil Phototherapy Device Market Revenues, for the Period 2015-2018.
  • Market Size & Forecast of Brazil Phototherapy Device Market Revenues, until 2025.
  • Historical Data of Mexico Phototherapy Device Market Revenues, for the Period 2015-2018.
  • Market Size & Forecast of Mexico Phototherapy Device Market Revenues, until 2025.
  • Historical Data of Argentina Phototherapy Device Market Revenues, for the Period 2015-2018.
  • Market Size & Forecast of Argentina Phototherapy Device Market Revenues, until 2025.
  • Market Drivers and Restraints
  • Latin America Phototherapy Device Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Market Opportunity Assessment
  • Latin America Phototherapy Device Market Share, By Regions
  • Latin America Phototherapy Device Market Share, By Players
  • Latin America Phototherapy Device Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key strategic Recommendations

Markets Covered:

The Latin America phototherapy device market report provides a detailed analysis of the following market segments:

By Types:

    • Conventional Phototherapy Device
      • Fluorescent Lamps,
      • Compact Fluorescent Lamps
    • Fiber Optic Phototherapy Device
    • LED Phototherapy Device
  • By Applications:

    • Skin Disease Treatment
      • Psoriasis
      • Eczema
      • Vitiligo
      • Others
    • Neonatal Jaundice Management
    • Cancers and Pre-cancers
    • Other Diseases

By End Users:

  • Hospitals
  • Clinics
  • Homecare

By Countries:

  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

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