Global Light Therapy Market is projected to grow at a CAGR of 5.62% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Light Therapy Market by Light Type (Red Light, Blue Light, White Light and Others), Product (Light Visor, Light Box, Dawn Simulator, Floor and Desk Lamps, Light Therapy Bulbs, Handheld Devices and Others), Application, End-user, Region and Global Forecast 2020-2027.
The global light therapy market is expected to grow from USD 872.40 million in 2019 to USD 1351.09 million by 2027, at a CAGR of 5.62% during the forecast period 2020-2027. North America is the dominant region in terms of market share. The region has a high demand for non-invasive therapies owing to the increasing incidence of skin diseases. The growing investments have resulted in the development of innovative products that are technologically advanced and can be used in multiple applications. However, Asia-Pacific is expected to be the highest growing region during the forecast period. The rapidly increasing urbanization and changing lifestyles have increased the incidence of depression and sleep disorders, especially among the working population. Also, the increasing healthcare budget has accelerated the growth of the market.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key notable players of the light therapy market are Beurer, Neutrogena, Lumie, BioPhotas, Koninklijke Philips N.V., Northern Light Technology, Chal-Tec, Sphere Gadget Technologies, Aura Daylight, Zepter International, Photomedex, Compass Health Brands, Lucimed, Nature Bright, Verilux, TheraLight, LLC, PhotonMD, Inc., Demyk Lightmod Products, Red Light Man and others.
The light type segment includes red light blue light, white light and others. The blue light accounted for the majority of the market shares in 2019. The blue light is effective in the treatment of premalignant and skin cancer, and thus it is increasingly demanded in dermatology applications. The product segment includes a light visor, light box, dawn simulator, floor and desk lamps, light therapy bulbs, handheld devices and others. The handheld device segment holds the majority of the market shares. The handheld devices are non-invasive due to which they are able to avoid cell disruption during the therapy session and thus are considered to be safe in comparison to the other alternatives. The demand for the handheld device has increased in the home care settings owing to the convenience. The applications segment includes psoriasis, eczema, vitiligo, acne vulgaris, sleeping disorders, seasonal affective disorders, winter blues, neonatal jaundice and others. Among these, a sleeping disorder is a dominant segment in terms of market shares. The change in lifestyle and immense pressure has increased the prevalence of sleep disorder, which has given rise to a number of disorders such as depression and disturbed sleep cycle. Thus, more patients are opting for light therapy for the treatment of such disorders. Also, the psoriasis segment is projected to register a substantial rate in the coming years owing to the growing prevalence. The end-user segment includes home care settings, dermatology and others. The dermatology segment constitutes the majority of the market shares. The increasing prevalence of skin disorder has increased the use of light therapy in dermatology applications. Light therapy has been found to be reliable in the treatment of acne vulgaris, wrinkles and other skin disorders.
Light therapy exposes the skin to certain wavelengths of light with the help of polarised light for the treatment of skin disorders. It is majorly used for the treatment of the seasonal affective disorder, psoriasis, eczema and many similar disorders. The therapy involves exposing the patient to artificial light. It is generally done to affect the chemicals present in the brain, which are responsible for sleep and mood. Light therapy has been increasingly used in the treatment of a variety of health issues related to skin disorders, behavioral change and depression. The use of advanced technology, such as narrow-band ultraviolet phototherapy has propelled the growth of the market.
About the report:
The global light therapy market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire