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Light Therapy Market Size is Projected to grow at 4.6% CAGR between the Forecast period.

Light Therapy Market Size is Projected to grow at 4.6% CAGR between the Forecast period.

19 Apr 2023
Contrive Datum Insights

The Global light therapy market was valued at US$ 1.0 Billion in 2022, and is projected to reach US$ 1.37 Billion by 2030, growing at a CAGR of 4.6% from 2023 to 2030. The global light therapy market refers to the market for devices and services that use light to treat various medical conditions, including skin disorders, sleep disorders, and seasonal affective disorder (SAD). The increasing prevalence of skin disorders, sleep disorders, and SAD, coupled with the growing demand for non-invasive treatment options, is driving the growth of the light therapy market. Additionally, the growing awareness about the benefits of light therapy and the increasing adoption of light therapy devices by healthcare professionals and patients are also contributing to market growth.

Browse 215 market data Tables and 96 Figures spread through 312 Pages and in-depth TOC on "Light Therapy Market Size, Share & Trends Estimation Report By Outlook, By Region, And Segment Forecasts, 2022 - 2030" View detailed Table of Content here-https://www.contrivedatuminsights.com/product-report/light-therapy-market-248671/

The rising incidence of skin disorders, sleep disorders, and SAD is driving the demand for light therapy devices. According to the American Academy of Dermatology, over 85 million Americans are affected by skin disorders each year, while the National Sleep Foundation reports that over 50 million Americans suffer from sleep disorders. The increasing awareness about the benefits of light therapy and the availability of information about its effectiveness in treating various medical conditions are driving the adoption of light therapy devices. Patients are becoming more knowledgeable about non-invasive treatment options, and healthcare professionals are also recommending light therapy as an effective treatment.

Market Dynamics

While the awareness about the benefits of light therapy is increasing in developed countries, there is limited awareness about light therapy in developing countries. This limits the potential market for light therapy devices and services. Light therapy devices can be expensive, which may limit their adoption by patients who cannot afford them. This is particularly true for handheld and portable devices, which can be more expensive than traditional light therapy devices.

While light therapy has been shown to be effective for treating several medical conditions, it may not be effective for all conditions. This limits the potential market for light therapy devices and services.

There is currently no regulation or standardization in place for light therapy devices, which can lead to inconsistent results and potential safety concerns. Manufacturers need to adhere to strict safety standards and regulations to ensure the effectiveness and safety of their products. There is a lack of awareness and education about light therapy among healthcare professionals and patients, particularly in developing countries. This limits the adoption of light therapy devices and services and presents a significant challenge for manufacturers looking to expand into new markets.

The light therapy market is expected to experience significant growth in the coming years, driven by the increasing prevalence of medical conditions that can be treated with light therapy and the growing demand for non-invasive treatment options. Additionally, the increasing adoption of light therapy devices by healthcare professionals and patients is also expected to contribute to market growth.

The light therapy market can be segmented based on the product type, application, end-user, and geography. Based on product type, the market can be segmented into light boxes, lamps, dawn simulators, light visors, handheld devices, and others. Based on application, the market can be segmented into skin disorders, sleep disorders, SAD, neonatal jaundice, and others. Based on end-user, the market can be segmented into hospitals, homecare settings, and others.

Dawn simulators are light therapy devices that mimic the natural sunrise and sunset. These devices are used to regulate the sleep-wake cycle and can be particularly effective for individuals with insomnia or sleep disorders. Light visors are wearable light therapy devices that fit like a visor or a pair of glasses. These devices emit light directly into the eyes and are often used for the treatment of SAD and other mood disorders.

Regional Analysis

The choice of end use segment depends on the specific condition being treated, as well as personal preferences and lifestyle. For example, a home-use light therapy device may be ideal for individuals with SAD who prefer to treat their condition at home, while a professional-grade device may be more appropriate for individuals with more severe conditions or those who require more specialized treatment. As the demand for light therapy devices continues to grow, we can expect to see further expansion and innovation in the end use segments of the market.

Geographically, the light therapy market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the market due to the high prevalence of skin disorders, sleep disorders, and SAD in the region, coupled with the high adoption of light therapy devices by healthcare professionals and patients.

Competitive Analysis

The key players in the light therapy market include Koninklijke Philips N.V., Northern Light Technology, Beurer GmbH, Lumie, Verilux, Inc., Chal-Tec GmbH, Aura Daylight, Photomedex, Inc., Red Light Rising, and Sphere Gadget Technologies. The market is highly competitive, with players competing based on product innovation, pricing, and distribution channels.

In January 2021, Lumie, a UK-based light therapy device manufacturer, was acquired by Verilux, Inc., a US-based light therapy device manufacturer. This acquisition is expected to help Verilux expand its presence in the European market and strengthen its product portfolio.

In December 2020, Philips launched a new light therapy device, the Philips SmartSleep Deep Sleep Headband. This device uses light therapy to help improve the quality of deep sleep and has received positive reviews from customers and healthcare professionals.

In August 2020, Northern Light Technologies, a Canadian light therapy device manufacturer, announced a partnership with the Canadian Mental Health Association to provide free light therapy devices to individuals with mood disorders.

In May 2020, Beurer GmbH, a German light therapy device manufacturer, announced the launch of its new Daylight Lamp TL100. This device is designed to simulate natural sunlight and help alleviate symptoms of SAD.

In April 2020, Nature Bright, a US-based light therapy device manufacturer, announced a partnership with WeWork to provide light therapy devices to WeWork's members. This partnership is expected to help Nature Bright expand its customer base and reach new customers in the US and internationally.

In February 2020, BioPhotas, a US-based light therapy device manufacturer, announced a partnership with a Canadian company, HealthMed Distributors. This partnership is expected to help BioPhotas expand its distribution network and reach new customers in Canada.

Segmentation Analysis of The Global Light Therapy Market 2016-2030

The report forecasts revenue growth at global, regional, and country matrics and analyzes the latest industry trends in each of the sub-segments ranging from 2016-2030. For this, CDI has segmented the global light therapy market report based on capacity, vehicle, application, and propulsion type along with regional analysis. 

Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Light Box
  • Floor and Desk Lamps
  • Handheld Devices for Skin Treatment
  • Light Visor
  • Dawn Simulator
  • Light Therapy Lamps

Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Psoriasis
  • Vitiligo
  • Eczema
  • Acne Vulgaris
  • SAD/Winter Blues
  • Sleeping Disorders

Light Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Blue Light
  • Red Light
  • White Light

End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Dermatology Clinics
  • Home Healthcare

Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia-Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
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