Light Therapy Market Research Report - Forecast till 2027

Light Therapy Market Research Report: By Product (Light Box, Floor and Desk Lamps, Light Visor, HDST, Others), Application (Psoriasis, Vitiligo, Eczema, Acne Vulgaris, Others),Light Type (Blue Light, Red Light, White Light, Others) and End-User (Homecare Settings, Dermatology Clinics, Others) – Forecast to 2027

ID: MRFR/HC/6894-HCR | October 2022 | Region: Global | 111 Pages         

Light Therapy Market

Light Therapy Market will grow at CAGR of 5.10% to hit USD 1,112.16 Million During the Forecast Period.

Segmentation

By Product Light Box Floor And Desk Lamps Light Visor Hdst
Application Psoriasis Vitiligo Eczema Acne Vulgaris
Light Type Blue Light Red Light White Light
End Users Homecare Settings Dermatology Clinics

Key Players

  • 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)

Drivers

  • Growing prevalence of dermatological disorders
  • Increasing the prevalence of psychological conditions such as SAD and anxiety.
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Light Therapy Market Overview:


In addition, the global Light Therapy Market is expected to rise at a CAGR of 5.10%, with a value of USD 1,112.16 million during the estimated the forecasting year of 2022-2030.


Light therapy, often known as phototherapy, is a form of medical care that uses artificial lighting. It is primarily used to treat Seasonal Affective Disorder, a depression condition with seasonal variations. This treatment makes up for the patient's lack of exposure to sunshine, which contributed to their disease. The light source is employed to simulate natural sunshine to aid in the therapy. Other health issues treated with light include different forms of depression and sleep disturbances. The amount of light used in treatment is quantified using lux gauges, a unit of measurement.


The rise in the prevalence of skin conditions that require light therapy for treatment, such as wrinkles, psoriasis, acne vulgaris, and other dermatological conditions, will contribute to the market's considerable growth throughout the projected period. The increased use of narrow and broad band UV phototherapy to treat skin-related disorders will accelerate industry growth in the short term. The market expansion is predicted to be driven by the rising number of advantages this therapy offers, such as cellular regeneration and enhanced blood circulation.


Additionally, a rise in patient desire for more minor invasive procedures and a surge in light therapy technology improvements will contribute to the market's faster expansion in the years to come. The market is also anticipated to grow shortly due to favourable reimbursement conditions in developing nations and a sharp increase in the usage of blue light to treat skin conditions. However, the likelihood of common adverse effects from direct contact with the light source might impede market expansion in the ensuing years.


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.


Market Dynamics



  • Major Drivers of The 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.



  • Opportunities for the Growth of the Market


The Light Therapy Market has more growth opportunities due to the increasing prevalence of dermatology 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.



  • Global Market Restraints


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.



  • Challenges Faced By The Market


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.



  • Cumulative Growth Analysis


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



  • By Product:


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.



  • By Application


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.



  • By Light Type:


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.



  • By End-User:


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.


Regional Analysis


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:



  • BioPhotas (US)

  • Lucimed SA (Belgium)

  • Lumie (UK)

  • Chal-Tec GmbH (Germany)

  • Koninklijke Philips (Netherlands)

  • Verilux (US)

  • Zepter International (Switzerland)

  • Beurer (Germany)

  • Nature Bright (Taiwan)

  • Northern Light Technology (Canada)


These above-mentioned key players are working hard in promoting the products for better Light Therapy Market Growth.


Recent Developments


The increase in disorders and diseases that require light therapy as a component of treatment will aid the light therapy industry in gaining the most significant market shares shortly. According to the National Psoriasis Foundation, more than 8 million Americans are thought to have psoriasis.


Report Overview


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 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 Market Analysis report has also highlighted the regional competition among the key players with the competitive analysis.


Segmental table:


By Product:



  • Floor and Desk Lamps,

  • LightBox,

  • Handheld Devices for Skin Treatment (HDST),

  • Light Visor,

  • Dawn Simulator,

  • Light Therapy Bulbs,

  • Others


By Application:



  • Vitiligo,

  • Psoriasis,

  • Acne Vulgaris,

  • Eczema,

  • Sleeping Disorders,

  • Seasonal Affective Disorder (SAD),

  • Others


By Light Type:



  • Red Light,

  • Blue Light,

  • White Light,

  • Others (yellow light and purple light)


By End-users:



  • Dermatology Clinics,

  • Homecare Settings,

  • Others (salons, workplace)



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 1,112.16 Million
  CAGR   5.10%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  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

  • Growing prevalence of dermatological disorders
  • Increasing the prevalence of psychological conditions, such as SAD, depression, and anxiety


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    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.