Light Therapy Market Overview:
The global light therapy market is showing an opportunity for the market to achieve 5.1% CAGR during the forecast period of 2019 to 2025, with a valuation of USD 1,112.16 million. Market Research Future (MRFR) revealed several growth-inducing factors that can be studied to understand the market motions in the coming years. These factors are the rising dermatological disorders like acne vulgaris, Psoriasis, etc., which affect around 50 million US citizens per year, several psychological conditions like depression, rising investment in research and development, technological advancements, and inclusion of blue light therapies.
However, side-effects like nausea and headache can create some limitations for the light therapy market. Lack of awareness can also prevent the market from achieving its normal growth.
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Light Therapy Market Segmentation:
MRFR analysts have segmented the global market for light therapy for a better review. This segmentation includes studies on product, application, light type, and end user. Figures and charts have backed fetched data from this segmentation.
By product, the global market for light therapy has been segmented on the basis of the lightbox, floor & desk lamps, light visor, dawn simulator, light therapy bulbs, handheld devices for skin treatment (HDST), and others. The ‘others’ segment includes Bluewave technology and light on timer. The HDST segment is the largest in terms of revenue and market size.
By application, the global market of light therapy covers Psoriasis, vitiligo, eczema, acne vulgaris, seasonal affective disorder (SAD), sleep disorders, and others. The ‘others’ segment covers bone injuries and joint pains. The sleeping disorder segment has the largest market share, whereas the Psoriasis segment is the fastest-growing one.
By light type, the global light therapy market has been segmented into blue light, red light, white light, and others. The blue light segment has the largest market share and the red light is predicted to be the fastest-growing segment.
By end user, the global market has been segmented into home care settings, dermatology clinics, and others. The ‘others’ segment includes workplace and salons. The homecare settings have the largest market coverage.
Light Therapy Market Regional Analysis:
North America would lead the global market from the front as the awareness regarding such therapies is high, and investment capacity for research works are also substantial. The US and Canada will take control of the global market.
Competitive Landscape:
The global market for light therapy is getting impacted by companies like Northern Light Technology (Canada), Chal-Tec GmbH (Germany), Lucimed SA (Belgium), Koninklijke Philips (Netherlands), Zepter International (Switzerland), Beurer (Germany), BioPhotas (US), Verilux (US), and Nature Bright (Taiwan), Lumie (UK).
Light Therapy Industry News:
In May 2020, a research paper published in Scientific Reports claimed that bright light therapy is helping patients with Parkinson’s disease in improving their sleep. The disease affects the body clock significantly. The therapy helps in bringing a semblance in that and boost the sleeping pattern. The exact nature of impact is still a matter of discussion and also the reason behind the efficacy. However, researchers believe that it has several things to do with the circadian rhythm.
In May 2020, the United States Food and Drug Administration (FDA) revealed that they had granted the designation of the breakthrough device to PhotoPharmics‘s light-based, at-home device that can work as an add-on therapy for Parkinson’s disease. This special status provides the company with a prioritized review of approval requests. The device is expected to boost the patient’s circadian rhythm to help maintain the sleep cycle and improve the metabolism rate.
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