ID: MRFR/HC/6894-HCR | February 2021 | Region: Global | 111 pages
The Light Therapy Market is predicted to register the market size at USD 1,112.16 Million by the end of the year 2025, and further, it has aimed to meet a CAGR of 5.1% for the forecast period of 2025. Light therapy is also called luminotherapy or phototherapy. The Light Therapy Market is growing worldwide due to the growing psychological conditions and an increasing number of dermatological disorders cases. Moreover, the effectiveness of light therapy for skin cancer treatment and other diseases and the growing adoption of non-invasive methods are predicted to enhance the demands for the Light Therapy Market for the research period.
The Light Therapy Market Analysis report explains that the vitiligo segment is a common type of skin disorder that affects 0.5%-1% of the world’s population. Moreover, Acne begins at the puberty age, and it affects many young adults and adolescents, which is increasing the Acne Vulgaris application. The report has also explained that the SAD treatment requires global adoption of light therapy devices, boosting the Light Therapy Market Size. Further, the increasing prevalence of sleeping disorders among the population contributes the largest share for the Light Therapy Industry.
The Light Therapy Market Outlook report has explained that the increasing adoption of floor and desk lamps for the SAD treatment has predicted to grow the global market for the research period. Moreover, the light visors are considered the fastest-growing segment, and it is used to counteract the effects of SAD, fatigue, and jet lag. Also, this is widely adopted for efficient patient management, which is predicted to increase the Light Therapy Industry Size for the forecast period. Along with that, the Handheld Devices for Skin Treatment (HDST) segment is predicted to be the largest Light Therapy Industry segment due to the increasing patient demand towards the handheld devices for skin disorders treatment. The report has also mentioned that the Light Therapy Bulbs segment is very helpful for the regulation of circadian rhythm as well as lift the mood. Other product segments are light on a timer and blue wave technology that is also growing the demand for the global market.
COVID-19 Impact Analysis
The ongoing global pandemic has affected the global Light Therapy Industry due to the global lockdown and shutdown of various regions. The lockdown period has imposed restrictions, which has restricted light therapy among the people.
The Light Therapy Market Forecast report has explained that the key players had adopted various methods and techniques to lift up the growth of the global market.
The increasing adoption of blue light therapy procedures, growing investment in research & development by various market players, and the increasing awareness about the benefits of light therapy devices are the major drivers of the Light Therapy Market.
Moreover, the growing the prevalence of psychological conditions as anxiety, SAD, and depression are the major growth driver of the Light Therapy Industry. For instance, in the US, nearly 31.6 million people, i.e., 10.1% of the population, have some form of eczema, which is boosting the Light Therapy Industry Value.
The Light Therapy Market has more growth opportunities due to the increasing prevalence of dermatological disorders like psoriasis, acne vulgaris, and others.
Therefore, the demand for Light Therapy is increasing, and the key players are giving their efforts to enhance the Light Therapy Industry Value for the upcoming years.
The Light Therapy Market Trends might face restraints due to the lack of awareness about light therapy across various developing regions of the world.
Other major restraints for the Light Therapy Industry can be the side effects of light therapy devices like eye pain, nausea, headache, itching, burning sensation, and agitation.
The Light Therapy Industry might face challenges due to the side effects of the light devices and the lack of awareness among the people.
Hence, the global key players are working on these challenges to combat the emerging issues.
The Light Therapy Market Trends is predicted to generate a higher CAGR for the assessment period due to the growing reimbursement provided to patients for psoriasis, cancer, eczema, and neonatal jaundice by various health insurance providers.
The Light Therapy Industry report has highlighted that the Asia Pacific region is the fastest-growing regional market due to the increasing number of people with psychological conditions. Hence, the global market has more cumulative growth opportunities in the upcoming years.
Market segment overview
On the basis of product segment, the global Light Therapy Industry has been classified into Floor and Desk Lamps, LightBox, Handheld Devices for Skin Treatment (HDST), Light Visor, Dawn Simulator, Light Therapy Bulbs, and others.
Among these, the increasing use of the lightbox for the SAD treatment is predicted to enhance the market segment growth for the research period. On the other hand, the dawn simulators segments are useful tools to adjust the circadian rhythm and are considered much easier to use than the lightboxes.
Based on the application segment, the Light Therapy Market has been classified into Vitiligo, Psoriasis, Acne Vulgaris, Eczema, Sleeping Disorders, Seasonal Affective Disorder (SAD), and others. Here, the others segments include joint pain and bone injuries.
Among these, the psoriasis application segment is growing faster due to its increasing prevalence of psoriasis. Across the world, nearly 25%-30% of the population is facing psoriasis with symptoms of arthritis and joint inflammation that are propelling the growth of the segment.
Based on the light type segment, the Light Therapy Industry has been classified into Red Light, Blue Light, White Light, and others (yellow light and purple light).
Among these, the blue light segment is considered the largest segment due to the increasing adoption of blue light for skin cancer treatment and sun damage treatment. Moreover, the white light segment is beneficial as it alleviates symptoms resulting from depression and SAD, increasing the growth of the global Light Therapy Industry. Along with that, the increasing applications of red light therapy for the treatment of arthritis and joint pain are considered the fastest segment of the global market.
On the basis of end-user segment, the global Light Therapy Market has been classified into Dermatology Clinics, Homecare Settings, and others (salons, workplace).
Out of these, the dermatology clinics segments are enhancing the growth of the global market due to the increasing occurrence of dermatological disorders. On the other hand, the home care settings segment is boosting the Light Therapy Industry Growth due to the affordable prices and easy use of light therapy devices.
The Light Therapy Market has been segmented into various regions of the world, such as the Asian Pacific, Europe, America, and the Middle East & Africa.
Among these, the American market is generating the largest Light Therapy Industry Share for the forecast period due to the growing prevalence of dermatological disorders and increasing demand for non-invasive procedures.
Competitive Landscape Analysis
The global Light Therapy Market is growing with the help of some top key players. These top key players are:
These above-mentioned key players are working hard in promoting the products for better Light Therapy Market Growth.
The Light Therapy Market Outlook report has involved both primary and secondary research for the collection of data. This report has measured the performance of the Light Therapy Market as well as the measured the Light Therapy Industry Share for the research period. Moreover, the report has covered market dynamics, market segment, and market overview to highlight the market growth and other challenges to the market.
The Light Therapy Market Analysis report has also highlighted the regional competition among the key players with the competitive analysis.
By Light Type:
|Market Size||USD 1,112.16 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Application, Light Type and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Beurer (Germany), Northern Light Technology (Canada), BioPhotas (US), Chal-Tec GmbH (Germany), Koninklijke Philips (Netherlands), Lucimed SA (Belgium), Lumie (UK), Verilux (US), Nature Bright (Taiwan), Zepter International (Switzerland)|
|Key Market Opportunities||Increasing research & development investments by industry players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global market of light therapy is projected to reach a valuation of USD 1,112.16 MN by 2025.
The global market of light therapy is projected to grow at approximately 5.1% CAGR during forecast period (2019-2025).
Rising cases of dermatological disorders and psychological conditions in developed as well as developing regions
North America holds the largest share in the global market of Light therapy, followed by Europe and the Asia Pacific, respectively.
Chal-Tec GmbH (Germany), Northern Light Technology (Canada), Beurer (Germany) BioPhotas (US), Verilux (US), Lucimed SA (Belgium), Koninklijke Philips (Netherlands), Zepter International (Switzerland), and Nature Bright (Taiwan), Lumie (UK), are some of the major players operating in the market of Light therapy.
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.