During the course of the projected period, the market is anticipated to increase as a result of the leading players' rising use of inorganic activities. During the course of the projected period, rising product approvals from regulatory bodies are anticipated to drive market expansion. For instance, in 2019, Health Canada granted Investigational Testing Approval (ITA) to ToeFX Inc. for its cutting-edge photodynamic treatment for onychomycosis. The ToeFX Light Therapy gadget can now commence clinical trials in Hamilton, Ontario, thanks to the ITA. Also, the business started its testing in early 2020.
The global Light Therapy Market is estimated to be valued at US$ 874.0 Mn in 2020 and is expected to exhibit a CAGR of 4.9% over the forecast period (2020-2027).
Top Companies in the Light Therapy Industry:
1. Koninklijke Philips NV
Koninklijke Philips N.V. operates as a health technology company in North America and internationally. Koninklijke Philips N.V. was founded in 1891 and is headquartered in Amsterdam, the Netherlands.
2. Northern Light Technology
Established in 1989, Northern Light Technologies is one of the largest manufacturers of innovative bright light and specialty lighting technology products. The company has headquarters situated in Montreal, Qc, Canada.
3. TheraLight, LLC
Founded in 2018, TheraLight, LLC is a medical device company and emerging global leader in innovative photomedicine technology. The company has headquarters situated in Lindon, UT. In September, 2021 TheraLight, a leader in light therapy and developer of full body LED technology, announces a recent agreement with iCRYO Franchise Systems, the leading Cryotherapy franchise in the United States.
4. Zepter International
Founded in 1986, Zepter International is a multi-branded multinational company that produces, sells and distributes exclusive, high-quality consumer goods around the world, principally through its own sales network as well as through high-end stores. Headquarters in Linz, Austria.
5. Beurer GmbH
Since 1919, delivers health and wellbeing. The company has headquarters situated in Baden-Wuerttemberg, Germany. In November, 2022 Beurer and Medisanté join forces in Europe to deliver a seamless and secure device experience in virtual care.
6. Nature Bright
Since starting in 2001, have dedicated ourselves solely to helping people live better with light therapy. The company has headquarters situated in California, USA.
7. Lucimed SA
The company was created in 2005, Lucimed is a Belgian company that manufactures and distributes light therapy devices in the medical and well-being field. It has headquarters situated in Bierges, Belgium.
8. PhotonMD, Inc.
Founded in 2016, PhotonMD is the developer of light-based medical treatments for tissue regeneration. The company has headquarters situated in Durham, United States.
9. BioPhotas
Founded on NASA-developed technology and backed by clinical studies, BioPhotas, manufacturer of the Celluma SERIES of light therapy devices, is bringing to market safe, effective and affordable devices that unlock the clinical power of biophotonics. The company was founded in 2007 and has headquarters situated in California, USA.
10. Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company was founded in 1886 and is based in New Brunswick, New Jersey. On October 2022, The U.S. Food and Drug Administration (FDA) has approved Johnson & Johnson's therapy for treating a type of multiple myeloma, the company said on Tuesday, giving another treatment option to patients with the incurable blood cancer.
*Definition- Natural light or any other type of analogous light is used in light therapy to cure diseases like skin ailments.
