The global Light Therapy Market, By Product Type (Light Box, Lamps, Light Visor, Dawn Simulator, Light Therapy Bulbs, Handheld Devices - Skin Treatment), By Light Type (White Light, Blue Light, Red Light, Others (Green and Yellow Light)), By End User (Dermatology Clinics, Home Care Settings, Others (Workplace, Salons)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 989.2 Million in 2023 and is expected to exhibit a CAGR of 5.2% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as the launch of new products, which will drive the global light therapy market. For instance, in April 2023, Zerigo Health, provider of Phototherapy System (i.e. light therapy device), announced the launch of Zerigo 2.0 ecosystem, a digital platform that connects health care systems and patients to the management and phototherapy treatment of chronic skin conditions.
Global Light Therapy Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
COVID-19 had a positive impact on the global light therapy market. For instance, according to The Open Dermatology Journal, in August 2020, some of the COVID-19 patients reported aggravation of their skin disorders such as rosacea, eczema, atopic dermatitis, and neurodermatitis due to the prolonged use of masks during the COVID-19 epidemic. Moreover, the use of skin disinfectants such as sanitizers is also responsible for increasing the incidence of contact dermatitis not only in COVID-19 positive patients but also in healthy individuals. Moreover, according to the same source, increasing skin disorders among COVID-19 patients may increase the risk of developing neurological disorders such as depression, anxiety, and others. Therefore, increasing cases of skin disorders and neurological disorders are expected to support growth of the market over the forecast period.
Global Light Therapy Market: Key Developments
In January 2023, tech-centric beauty brand AMIRO unveiled its latest skincare device, the AMIRO L1 LED Light Therapy Face Mask, as a response to consumer demand. The anti-aging LED face mask is built to emit four wavelengths of light for a multi-way skincare treatment experience.
In April 2022, Therabody, the global pioneer in wellness technology, introduced TheraFace PRO, the ultimate portable facial health device. At the intersection of health, technology, and beauty, TheraFace PRO goes where no facial device has gone before.
In August 2021, ClearPoint Neuro, Inc., a global therapy-enabling platform company providing navigation and delivery to the brain, announced it had entered into a strategic and commercial partnership with German-based light therapy leader Adeor Medical AG for powered neurosurgical drill solutions.
Browse 36 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Light Therapy Market”- Forecast to 2030, Global Light Therapy Market, By Product Type (Light Box, Lamps, Light Visor, Dawn Simulator, Light Therapy Bulbs, Handheld Devices - Skin Treatment), By Light Type (White Light, Blue Light, Red Light, Others (Green and Yellow Light)), By End User (Dermatology Clinics, Home Care Settings, Others (Workplace, Salons)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/light-therapy-market-384
Key Takeaways of the Global Light Therapy Market:
- The global light therapy market is expected to exhibit a CAGR of 5.2% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global light therapy market.
- Among light type, the red light segment is expected to hold a dominant position in the global light therapy market during the forecast period and this is attributed to the increasing launch of products. For instance, in October 2021, Lifepro, an industry leader in wellness and recovery equipment, announced its Red Light Therapy line, aimed at providing access to non-invasive wellness care at a competitive price. Each product targets different points on the body to provide a full suite of support for a variety of ailments and wellness goals.
- Among region, North America is expected to be the dominant region in the global light therapy market. The rising burden of skin-related disorders such as acne vulgaris, psoriasis, vitiligo, and others is expected to boost the light therapy market as they treat these disorders. For instance, in August 2021, according to the article published in Medpace titled "How common is acne vulgaris in the United States?" acne is the most common skin condition in the U.S, affecting 50 million people each year. Acne vulgaris affects 80% of people in the U.S. at some point. Severe acne affects 20% of people, causing long-term physical and mental scarring.
- Major players operating in the global light therapy market are Koninklijke Philips N.V., Verilux, Inc., Northern Light Technology, TheraLight, LLC, Zepter International, Photomedex Inc., Beurer GmbH, Nature Bright, Lucimed SA, Lumie, PhotonMD, Inc., Aura Daylight, Sphere Gadget Technologies, BioPhotas, Chal-Tec, Johnson and Johnson, and Carex Health Brands Inc.
