New York, United States , April 19, 2023 (GLOBE NEWSWIRE) -- The Global Light Therapy Market Size to grow from USD 30.2 billion in 2021 to USD 51.5 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period. The rise in the cases of skin issues, depressive disorders like winter blues, and seasonal affective disorders, and rapid advancements in the field of technology in healthcare are anticipated to drive the market over the forecast period.
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The main component of light therapy, commonly referred to as phototherapy, is exposure to an artificial light source or a similar sort of light. The therapy is primarily used to treat serious seasonal affective disorder, depressive disorders, and various skin diseases. Psoriasis, vulgaris, eczema, and vitiligo are just a few of the skin conditions that have been treated by light therapy. Red light therapy, blue light therapy, and white light therapy are a few examples of the several types of light therapies available.
Over the projected period, the market is expected to be driven by an increase in skin problems, depressive illnesses such the winter blues and seasonal affective disorders, and swift technological improvements in healthcare. Clinical depression is another prevalent health concern that many people experience. The issue is characterised by enduring emotions of despair and disinterest in routine activities. Physical manifestations of clinical depression include altered appetite, exhaustion, a loss of focus, and irregular sleep patterns. A confluence of biological, genetic, psychological, and environmental variables contributes to depression. Over 264 million individuals worldwide were affected by depression, according to reports given by the WHO in 2021.
Over the projection period, it is projected that the increase in side effects associated with light treatment and product recalls will slow the market's expansion.
COVID 19 Impact
The COVID 19 pandemic has recently posed serious concerns to numerous nations. Due to severe lockdown regulations, the burden on hospitals, and disruption in the supply chain, the pandemic has had a moderate impact on the global market. As a result, light treatment devices are now more readily available and are produced at a lower volume. This occurred as a result of lower consumer spending, lockdowns, and fewer people visiting clinics and hospitals for non-emergency cases, which all contributed to a decline in the demand for such products. In addition, the economic downturn brought on by the pandemic has decreased consumer spending.
Browse key industry insights spread across 200 pages with 105 market data tables and figures & charts from the report on “Global Light Therapy Market Size, Share, and COVID-19 Impact Analysis, By Product (Lightbox, Floor & Desk Lamp), By Application, By Light Type (Blue Light, Red Light), By End-use, By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here:
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Product Insights
The handheld devices segment dominates the market with the largest market share over the forecast period
On the basis of product, the global light therapy devices market is segmented into floor desk lamps, lightbox, handheld devices, light therapy lamps, light visors, and dawn simulators. Among these, the handheld devices segment is dominating the market with the largest market share over the forecast period. Efficiency, portability, and user friendliness are just a few of the many attributes that have been linked to the segmental rise. They use technologies like microcurrents and ultrasonic waves to cure skin disorders and enhance the appearance of the skin.
Application Insights
The sleeping disorder segment holds the largest market share over the forecast period
Based on the application, the global light therapy market is segmented into eczema, vitiligo, SAD/ winter blues, and sleeping disorder. Among these, the sleeping disorder segment is dominating the market with the largest market share over the forecast period. Many illnesses, including hypersomnia, insomnia, and respiratory problems when sleeping, are linked to sleep disorders and are brought on by bad lifestyle choices including drinking alcohol, smoking, and spending too much time in front of screens.
Light Type Insights
The blue light segment is dominating the market with the largest market share over the forecast period
On the basis of light type, the global light therapy market is segmented into white light, red light, and blue light. Among these, the blue light segment is dominating the market with the largest market share over the forecast period. Skin problems, acne, seasonal affective disorders, and clinical depression are just a few of the conditions that blue light therapy is used to treat. The length of the treatment session varies from 15 to 90 minutes depending on the problem and treatment area.
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End Use Insights
The home healthcare segment is dominating the market with the largest market share over the forecast period
Based on the end use, the global light therapy market is segmented into home healthcare and dermatology clinics. Due to growing consumer awareness and technology developments such remote patient monitoring, the home healthcare category is leading the market with the biggest market share over the projection period. The dermatology clinics market sector, on the other hand, is anticipated to develop at the highest rate due to rising costs associated with various healthcare requirements following the pandemic.
Regional Insights
North America is dominating the market with the largest market share over the forecast period.
Due to an increase in incidences of winter blues, SAD, and psoriasis, North America will continue to dominate the market with the biggest market share over the projection period. Under medical supervision, light treatment involves exposing the skin to artificial ultraviolet light. UBA and UVB light are used to cure inflammation and alleviate discomfort. Almost 1 million people have psoriasis, which is driving the industry, according to the Canadian Dermatology Association's estimate.
On the other hand, Asia Pacific is predicted to see the fastest market growth due to rising telemedicine investment and increased awareness of the benefits of light therapy. In addition, the market is being driven by the increased use of light treatment equipment in hospitals, clinics, and homecare settings.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Light Therapy Market are Beurer GmbH, Biophostas Inc. (Celluma), Johnson and Johnson, Koninklijke Philips, Lucimed S.A., Lumie, Nature Bright, Northern Light Technologies, Photomedex Inc, TheraLight Llc, Verilux Inc., and Zepter International.
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