Global LightTherapy Market, by Product Type (Light Box, Lamps, Light Visor, DawnSimulator, Light Therapy Bulbs, and Handheld Devices), by Light Type (WhiteLight, Red Light, Blue Light, and Others), by End User (Dermatology Clinics,Homecare Settings, and Others), and by Region (North America, Latin America,Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued atUS$ 874.0 million in 2020 and is estimated to exhibit a CAGR of 4.9% during theforecast period (2020-2027).
The increasing prevalence ofdepression is expected to increase in the number of patients suffering fromseasonal affective disorder (SAD), which in turn is expected to drive growth ofthe global light therapy market over the forecast period. For instance,according to Our World in Data Statistics, 2019, the following table depictsthe number of patients suffering from depression in some of the countries,globally, in the year 2017 and 2018.
Market players are focusing onlaunching new and innovative products, which is expected to drive growth of theglobal light therapy market over the forecast period. For instance, in November2019, TheraLight, LLC launched TheraLight FIT, an advanced light therapytechnology that use LED with both Red and IR wavelengths for total bodyphotobiomodulation (TBP).
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Global Light Therapy Market-Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic is expectedto fuel growth of the global light therapy market over the forecast period.According to The Open Dermatology Journal: 20th August 2020, some of theCOVID-19 patients reported aggravation of their skin disorders such as rosacea,eczema, atopic dermatitis, and neurodermatitis due to prolong use of masksduring the COVID-19 epidemic. Moreover, use of skin disinfectants such assanitizers are also responsible for increasing the incidence of contactdermatitis not only in the COVID-19 positive patients but also in healthyindividuals. Moreover, according to the same source, increasing skin disordersamong the COVID-19 patients may lead to increasing risks of developingneurological disorders such as depression, anxiety, and others. Therefore,increasing cases of skin disorders and neurological disorders are expected tosupport growth of the market over the forecast period.
Many market players are engagedin conducting clinical trials for determining the safety and efficacy of lighttherapy on the treatment of COVID-19 patients. For instance, in 2020, MultiRadiance Medical initiated clinical trial for testing their pulsed lasertherapy technology for the recovery of COVID-19 patients, after receivingapproval from the Health Ministry in Brazil. The study is based on the reportswhere Multi Radiance technology was used for improving the lung function inchronic obstructive pulmonary disease (COPD) patients. Currently the study isin the research phase. Such research and development activities are expected tosupport growth of the market over the forecast period.
Browse 35 Market Data Tables and23 Figures spread through 154 Pages and in-depth TOC on, Global Light TherapyMarket, Global Light Therapy Market, by Product Type (Light Box, Lamps, LightVisor, Dawn Simulator, Light Therapy Bulbs, and Handheld Devices), by LightType (White Light, Red Light, Blue Light, and Others), by End User (DermatologyClinics, Homecare Settings, and Others), and by Region (North America, LatinAmerica, Europe, Asia Pacific, Middle East, and Africa),
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Key players are engaged inadopting inorganic activities such as partnerships for providing access of theproducts for patients suffering from skin disorders, which is expected toincrease the customer base of the market. For instance, in 2019, DaavlinInternational entered into a partnership with Healthlens for providing accessfor the Daavlin 7 series home phototherapy unit for the treatment of skindisorders such as psoriasis, vitiligo and eczema. The partnership will providedermatology consultation and treatment to the patients at their home.
Key Takeaways of the LightTherapy Market:
The global light therapy marketis expected to exhibit a CAGR of 4.9% over the forecast period (2020-2027),owing to growth in potential markets, especially in Europe. North Americaaccounted for major market share.
Market players are focused onlaunching new and innovative light therapy products, which is expected to drivegrowth of the global light therapy market over the forecast period. Forinstance, on October 26, 2020, Lumiere Skyn launched next generation skinrejuvenation technology, which involve Red LED wavelengths, Blue LEDwavelengths, and amber LED wavelengths for the treatment of various skin issuessuch as it aids in collagen production, reduces inflammation, promotes evenskin tone, and others.
Some of the major playersoperating in the global light therapy market include Koninklijke Philips N.V.,Verilux, Inc., Northern Light Technology, TheraLight, LLC, ZepterInternational, Photomedex Inc., Beurer GmbH, Nature Bright, Lucimed SA,PhotonMD, Inc., BioPhotas, Chal-Tec GmbH, Johnson & Johnson, and CarexHealth Brands Inc.
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