The global light therapy market has an opportunity to scale a growth valuation of USD 1,112.16 Million by 2027 with a moderate CAGR of 5.10% in the forecast period that covers 2020 to 2027. Market Research Future (MRFR) considers the rising number of dermatological disorders as the major reason behind the market growth of the Light Therapy Market. Among other major reasons, growing demand for non-invasive methods, treatment for psychological disorders, and better funding for research and development projects are deemed to play crucial roles in taking the market forward.
However, side-effects like eye pain, nausea, headache, itching, burning sensation, and agitation can deter the market from having a smooth run. Its lack of awareness in several countries can also hold back the growth.
Segmentation
The global market for light therapy has been segmented in the report on the basis of product, application, light type, and end user.
By product, the market for light therapy can be segmented into lightbox, floor & desk lamp, light visor, dawn simulator, handheld devices for skin treatment (HDST), light therapy bulbs, and others. The ‘others’ segment would include Bluewave technology and light on a timer. The HDST segment has the largest market share as patients prefer this for its ability to cope up with the home care setting. The light therapy visor setting is the fastest-growing segment and its portability is playing in favor of the market.
By application, the worldwide market report on the light therapy can be fragmented into psoriasis, vitiligo, dermatitis, skin break out vulgaris, resting messes, occasional full of feeling issue (SAD), and others that incorporate bone wounds and joint agony. The resting issue section has the largest market inclusion and psoriasis has the chance to enlist the quickest development rate for a long time to come.
By light kind, the market report shining on the investigation of light therapy portions the market into blue light, white light, red light, and others. The blue light fragment covers the largest piece of the market as its takers are developing to treat sun harm and skin malignant growth. The red light has the quickest development rate and its application to treat joint torment and joint inflammation is developing. The 'others' incorporate purple light and yellow light.
By end user, the report segments the market into homecare settings, dermatology clinics, and others. The home care setting covers the maximum ground as it is cost affordable. The ‘others’ segment includes workplace and salons.
Regional Analysis:
The Americas is showing incredible advancement attributable to the gigantic interest it is getting from the rising interest for painless techniques. Furthermore, the provincial market has an incredible open door in getting the market skyline extended by expanding the quantity of medicines accomplished for dermatological issues with light therapy. In Europe, the development of this section would be significant as a few nations like France, Germany, the UK, and others would show development in their gathering of the light therapy. This would happen for the most part because of expanding mindfulness and spending limit.
The Asia Pacific area would profit from the quantity of individuals looking for therapy with this to counter their mental issues. Development in various individuals experiencing difficulty with discouragement and tension can build the opportunity for the light therapy market development. In the Middle East and Africa, the market would experience the ill effects of an absence of mindfulness with respect to both dermatological and mental issues and unfortunate venture limit.
Competitive Landscape:
The market for light therapy is witnessing a surge in strategic moves that ensure market growth. This would depend much on the performance of the market players like BioPhotas (US), Beurer (Germany), Northern Light Technology (Canada), Koninklijke Philips (Netherlands), Verilux (US), Nature Bright (Taiwan), Chal-Tec GmbH (Germany), Lumie (UK), Lucimed SA (Belgium), Zepter International (Switzerland), and others. These companies have their recent moves profiled by MRFR to understand the market movements in a proper way.
Recently, the FDA approved Revian Red dual-wavelength LED light therapy (PhotonMD) for the treatment of hair loss, which can boost the market considerably.
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