Light Therapy Market: Future Forecast Assessed On The Basis Of How The Market Is Predicted To Grow
Global Light Therapy Market Research Report: By Product (Light Box, Floor and Desk Lamps, Light Visor, HDST, Others), By Application (Psoriasis, Vitiligo, Eczema, Acne Vulgaris, Others), By Light Type (Blue Light, Red Light, White Light, Others) and By End-User (Homecare Settings, Dermatology Clinics, Others) – Forecast to 2027
The global light therapy market is expected to grow at a strong 5.1% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global light therapy market is expected to grow to a valuation of USD 1,112.16 million by 2025. Light therapy, also known as phototherapy or luminotherapy, is the use of specific ranges of light for the treatment of various disorders.
The global light therapy market is mainly driven by the growing prevalence of psychiatric conditions such as depression, anxiety, and seasonal affective disorder (SAD). Such conditions can be treated by light therapy, as the body reacts to specific ranges of light in a specific manner. Light can be used to bring about cheerfulness and alertness in humans. This has driven the demand for light therapy to treat the aforementioned conditions. The increasing loneliness of urban life is likely to lead to an increase in the prevalence of such psychiatric disorders in the coming years, leading to a growing demand for light therapy.
The growing prevalence of skin conditions such as acne and psoriasis is also a major driver for the global light therapy market. Light therapy can also be used effectively against skin conditions, as skin conditions react well to light therapy. Growing air pollution has resulted in an increasing prevalence of skin conditions around the world. Acne is the most common skin condition in the U.S. and affects up to 50 million Americans every year. This is likely to lead to a growing demand from the light therapy market over the forecast period.
On the other hand, side effects such as nausea, headaches, eye pain, and itching and burning sensations are likely to restrict the growth of the light therapy market over the forecast period. In addition, the unavailability and lack of awareness about light therapy in developing regions such as the Middle East, Africa, and Latin America are also major restraints on the global light therapy market.
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Competitive Leaderboard:
Leading players in the global light therapy market include Beurer, Northern Light Technology, BioPhotas, Chal-Tec GmbH, Koninklijke Philips NV, Lucimed SA, Lumie, Verilux, Nature Bright, and Zepter International.
Segmentation:
The global light therapy market is segmented by product type, application, light type, end user, and region.
By product type, the global light therapy market is segmented into light box, floor and desk lamps, light visor, handheld devices for skin treatment, dawn simulator, light therapy bulbs, and others. Handheld devices for skin treatment are the largest segment of the global light therapy market and are expected to remain the dominant segment over the forecast period. Light visors are the fastest growing market segment due to their growing adoption in the treatment of SAD.
By application, the global light therapy market is segmented into psoriasis, vitiligo, eczema, acne, SAD, sleeping disorders, and others. The sleeping disorders segment is expected to be the largest segment of the market over the forecast period due to the growing prevalence of sleeping disorders. Psoriasis is the fastest growing segment of the market.
By light type, the global light therapy market is segmented into blue light, red light, white light, and others. Blue light is the largest segment in the global light therapy market.
By end user, the global light therapy market is segmented into homecare settings, dermatology clinics, and others. The homecare settings segment is the major segment of the global light therapy market.
Regional Analysis:
The Americas are the dominant regional market for light therapy due to the growing adoption of the therapy in the region. The Americas are among the few regions in the world where light therapy is widely available and accepted. In contrast, in developing regions such as the Middle East and Africa, light therapy is not at all available to patients. Awareness about sleep disorders and psychological disorders such as depression and SAD is also high in North America, leading to the light therapy market experiencing strong growth prospects in the region. Europe is the second largest regional market in the global light therapy market, followed by Asia Pacific.
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