Market Research Future (MRFR) considers the rising number of dermatological disorders as the major reason behind the market growth of the light therapy market. Among other major reasons, growing demand for non-invasive methods, treatment for psychological disorders, and better funding for research and development projects are deemed to play crucial roles in taking the market forward.
The Global Light Therapy Market Size has an opportunity to scale a growth valuation of USD 1,112.16 Million by 2025 with a moderate CAGR of 5.1% in the forecast period that covers 2019 to 2025.
However, side-effects like eye pain, nausea, headache, itching, burning sensation, and agitation can deter the market from having a smooth run. Its lack of awareness in several countries can also hold back the growth.
The market for Light Therapy is witnessing a surge in strategic moves that ensure market growth. This would depend much on the performance of the market players like BioPhotas (US), Beurer (Germany), Northern Light Technology (Canada), Koninklijke Philips (Netherlands), Verilux (US), Nature Bright (Taiwan), Chal-Tec GmbH (Germany), Lumie (UK), Lucimed SA (Belgium), Zepter International (Switzerland), and others. These companies have their recent moves profiled by MRFR to understand the market movements in a proper way.
Recently, the FDA approved Revian Red dual-wavelength LED light therapy (PhotonMD) for the treatment of hair loss, which can boost the market considerably.
The global market for light therapy has been segmented in the report on the basis of product, application, light type, and end user.
By product, the market for light therapy can be segmented into lightbox, floor & desk lamp, light visor, dawn simulator, handheld devices for skin treatment (HDST), light therapy bulbs, and others. The ‘others’ segment would include Bluewave technology and light on a timer. The HDST segment has the largest market share as patients prefer this for its ability to cope up with the home care setting. The light visor setting is the fastest-growing segment and its portability is playing in favor of the market.
By application, the global market report on the light therapy can be segmented into psoriasis, vitiligo, eczema, acne vulgaris, sleeping disorders, seasonal affective disorder (SAD), and others that include bone injuries and joint pain. The sleeping disorder segment has the widest market coverage and psoriasis has the opportunity to register the fastest growth rate for the foreseeable future.
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By light type, the market report focusing on the study of light therapy segments the market into blue light, white light, red light, and others. The blue light segment covers the widest portion of the market as its takers are growing to treat sun damage and skin cancer. The red light has the fastest growth rate and its application to treat joint pain and arthritis is growing. The ‘others’ include purple light and yellow light.
By end user, the report segments the market into homecare settings, dermatology clinics, and others. The home care setting covers the maximum ground as it is cost affordable. The ‘others’ segment includes workplace and salons.
The Americas is showing great progress owing to the huge demand it is getting from the rising demand for non-invasive procedures. In addition, the regional market has a great opportunity in getting the market horizon expanded by increasing the number of treatments done for dermatological problems with light therapy. In Europe, the growth of this segment would be substantial as several countries like France, Germany, the UK, and others would show growth in their reception of the light therapy. This would happen mostly due to increasing awareness and spending capacity.
The Asia Pacific region would benefit from the number of people seeking therapy with this to counter their psychological issues. Growth in a number of people having trouble with depression and anxiety can increase the chance for the light therapy market growth. In the Middle East & Africa, the market would suffer from a lack of awareness regarding both dermatological and psychological issues and poor investment capacity.