Global Light Therapy Market Projected to Witness a Measurable Downturn; COVID-19 Outbreak Remains a Threat to Growth in the Near Future
This Future Market Insights report examines the ‘Global Light Therapy Market’ for the period 2016–2026. The primary objective of the report is to offer updates, trends, drivers, restraints, volume and value forecasts and opportunities for manufacturers operating in the global light therapy market.
Global demand for light therapy devices is increasing as a result of rapid adoption of new technologies and increasing incidence of Seasonal Affective disorder (SAD) and skin treatments. Markets in developed economies are witnessing increasing demand for light therapy products due to the geographic location and high prevalence rate of SAD. Adoption of light therapy devices is projected to increase at a rate of 4.8% over the forecast period. The trend is expected to boost the overall demand for light therapy products such as light boxes, dawn simulators, handheld devices for skin treatment during the forecast period. To understand and assess the opportunities in this market, the report is categorically split into four sections, namely market analysis by product type, end user type, light type and region. The report analyses the global light therapy market in terms of market value (US$ Mn).
The report starts with an overview of the light therapy market and its usage in various applications globally. In the same section, FMI covers the light therapy market performance in terms of revenue. This section includes FMI’s analyses of key trends, drivers and restraints from the supply and demand perspective.
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The next section of the report analyses the market is based on product type and presents the forecast in terms of value for the next ten years. Product types covered in the report include:
- Light Box
- Floor and Desk Lamps
- Light Visor
- Dawn Simulator
- Light Therapy Bulbs
- Handheld Devices for skin treatment
The next section of the report analyses the market based on light type segments and presents the forecast in terms of value for the next ten years. The light type segments covered in the report include:
- White Light
- Blue Light
- Red Light
- Others (green light, yellow light)
The next section of the report analyses the market based on end user type segments and presents the forecast in terms of value for the next ten years. The end user type segments covered in the report include:
- Dermatology Clinics
- Homecare Settings
- Others (workplace, salons)
Furthermore, the report analyses the market based on regions and presents the forecast in terms of value for the next ten years. Regions covered in the report include:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East & Africa (MEA)
The forecast presented for the market assesses the total revenue generated in the light therapy market. When developing the forecast, the starting point involves sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. Given the characteristics of market, we triangulated the outcome based on different analysis of the supply side, demand side and GDP growth rate. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global light therapy market.
As previously highlighted, the global light therapy market is split into various categories based on region, product type, end user type and light type. All these segments or categories have been analyzed in terms of Basis Point Share (BPS) to understand the individual segments’ relative contribution to market growth. This detailed level of information is important for identification of various key trends in the global light therapy market.
Another key feature of this report is the analysis of the light therapy market by region and product type segments, end user type and light type segments; and the market revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global light therapy market.
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Furthermore, Future Market Insights has developed a market attractiveness index for all four segments, namely regional, product type, end user type and light type. This index helps in identifying the real opportunities in the market.
The final section of the report includes the competitive landscape to provide report audiences a dashboard view, based on categories of providers across the market, their presence in the light therapy product portfolio and key differentiators.
Key players in the global light therapy market include Koninklijke Philips N.V., Verilux, Inc., Northern Light Technology, Zepter International, Photomedex Inc., Beurer, Nature Bright, Lucimed SA, Chal-Tec-GmbH, Lumie, Aura Daylight and Sphere Gadget Technologies
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