The global phototherapy equipment market is set to reach USD 581.2 million by 2032, growing at a CAGR of 4.3% from 2024, driven by rising skin disorders, neonatal jaundice cases, and technological advancements. Key growth opportunities lie in portable devices and telemedicine integration, while challenges include high costs and regulatory hurdles. North America leads the market, with significant growth expected in the Asia-Pacific region due to increased healthcare investments.