(MENAFN- PR Newswire)
NEW YORK, Aug. 22, 2024 /PRNewswire/ -- The global light therapy market size is estimated to grow by USD 236.1 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over
4.36% during the forecast period. Growing prevalence of sad
is driving market growth,
with a trend towards
significant strategic initiatives by vendors. However,
complications related to standardization and quality control poses a challenge. Key market players include Acupressure Health Care International, Aura Medical LLC, Beurer GmbH, Biophotas, Compass Health Brands, Demyk Lightmod Products Inc., Johari Digital India Ltd., Johnson and Johnson Services Inc., Koninklijke Philips N.V., Light Sources Inc., Lucimed SA, Lumie, Nature Bright, Northern Light Technologies Inc., Photomedex Inc., Red Light Man Ltd., Skrip Electronics, Ultrasun International B.V., Verilux Inc., and Zepter International.
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Technavio has announced its latest market research report titled Global light therapy market 2024-2028
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| Light Therapy Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
| Market growth 2024-2028 |
USD 236.1 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
4.11 |
| Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
| Performing market contribution |
North America at 39% |
| Key countries |
US, Germany, Japan, China, and UK |
| Key companies profiled |
Acupressure Health Care International, Aura Medical LLC, Beurer GmbH, Biophotas, Compass Health Brands, Demyk Lightmod Products Inc., Johari Digital India Ltd., Johnson and Johnson Services Inc., Koninklijke Philips N.V., Light Sources Inc., Lucimed SA, Lumie, Nature Bright, Northern Light Technologies Inc., Photomedex Inc., Red Light Man Ltd., Skrip Electronics, Ultrasun International B.V., Verilux Inc., and Zepter International |
Market Driver
The global light therapy market is witnessing significant growth due to increasing R&D activities, collaborations, acquisitions, and regulatory approvals. Vendors are focusing on advancing their products to meet end-user needs. For instance, BioPhotas, Inc.'s new OTC LED light therapy device, Celluma RESTORE, addresses aging skin, hair loss, and general pain conditions. Inorganic growth strategies, such as acquisitions and partnerships, are also prevalent. PhotoPharmics' FDA-approved non-invasive phototherapy device for Parkinson disease treatment is a notable example. These strategic initiatives by market players are expected to boost the market's expansion during the forecast period.
The Light Therapy Market is experiencing significant growth due to increasing prevalence of various health conditions. This includes cold sores, depression, sedentary lifestyles leading to chronic insomnia, circadian rhythm disorders, joint inflammation, arthritic symptoms, skin cancer, and sun damage. Regulated medical devices like light therapy boxes are gaining popularity for their ability to provide light radiation as a treatment. Companies like Symbyx Neuro and Symbyx Biome are leading the charge with 510(k) applications for their innovative light therapy devices. Markets for neurodegenerative disorders such as Parkinson's disease and other mental health conditions like depression, depressive disorders, winter blues, and seasonal affective disorder are major drivers. Factors like genetic, biological, environmental, and psychological causes fuel the demand for these devices. Portability, wireless communication, dosage regulation, and lightbox technology are key trends in this market. Skin-related diseases and inflammation are also being targeted, offering opportunities for growth.
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Market
Challenges
The light therapy market faces challenges due to the absence of universal standards for device production and performance. This variability in light wavelength, intensity, and duration makes it difficult for consumers and healthcare providers to determine which devices are effective for therapeutic use. Additionally, the influx of substandard devices from various manufacturers, particularly in regions with lenient regulatory frameworks, poses risks to patient safety and erodes market credibility. Ensuring consistent quality across manufacturing locations and batches is a significant challenge. Regulatory bodies like the FDA and CE Mark in Europe aim to impose quality standards, but inconsistent enforcement leads to disparities in product quality and reliability. These factors may hinder the growth of the light therapy market during the forecast period.
The Light Therapy Market encompasses various products like light visors, therapy lamps, and dawn simulators, catering to diverse health concerns. Challenges include the competition between these devices and alternatives like ultrasonic waves and microcurrents. Market growth is driven by increasing instances of insomnia, eye fatigue, jet lag, and mental health issues among aircraft travelers. Melatonin hormones and circadian rhythms are key focus areas, with applications in treating skin diseases such as psoriasis, vitiligo, eczema, and sleeping disorders. SAD/Winter blues, unhealthy lifestyles, and unhealthy diets contribute to market expansion. Light therapy, heliotherapy, phototherapy, and laser technology are popular approaches. Skin disorders like acne vulgaris, wrinkles, redness, acne, scars, and aging indicators are targeted through blue light, red light, and white light therapies. Photobiomodulation, topical skin treatments, and non-invasive therapies are emerging trends. Market size is expected to grow significantly due to rising healthcare expenditures and the increasing popularity of non-invasive treatments.
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Segment Overview
This light therapy market report extensively covers market segmentation by
End-user
1.1 Commercial
1.2 Domestic
1.3 Healthcare
Type
2.1 Blue light
2.2 Red light
2.3 White light
2.4 Others
Geography
3.1 North America
3.2 Europe
3.3 Asia
3.4 Rest of World (ROW)
1.1
Commercial- The Light Therapy Market is experiencing significant growth due to increasing awareness and adoption of light therapy for various health conditions. This includes seasonal affective disorder, sleep disorders, and skin conditions. Key players in the market include Philips, Verilux, and NatureBright. They offer a range of products such as light boxes, lamps, and bulbs. The market's growth is driven by advancements in technology, increasing research, and rising demand for non-invasive treatment options.
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Research Analysis
The Light Therapy Market encompasses various applications, primarily focused on treating skin-related diseases, depressive disorders, and seasonal conditions such as winter blues and seasonal affective disorder. These conditions can be influenced by genetic, biological, environmental, and psychological factors. Light therapy devices, including lightboxes, light visors, and light therapy lamps, have gained popularity as non-invasive treatments. Portability and wireless communication are key features driving market growth, allowing for convenient use. Dosage regulation ensures effective treatment, while innovative technologies like dawn simulators, ultrasonic waves, and microcurrents offer additional benefits. Applications extend to insomnia, eye fatigue, jet lag, melatonin hormones, circadian rhythms, and various skin conditions like psoriasis, vitiligo, and eczema.
Market Research Overview
Light therapy is an innovative treatment modality that utilizes artificial light sources to address various health conditions. It is particularly effective in managing skin-related diseases, depressive disorders, and seasonal affective disorder (SAD), also known as the "winter blues." These conditions can be influenced by genetic, biological, environmental, and psychological factors. Light therapy devices come in various forms, including lightboxes, light visors, and therapy lamps, offering portability and wireless communication features. Different types of light, such as ultrasonic waves, microcurrents, and melatonin hormones, are used to target specific conditions. Aircraft travelers, insomnia patients, and those suffering from eye fatigue, jet lag, and sleeping disorders also benefit from light therapy. Light therapy is also used in dermatology clinics and home healthcare settings to treat skin disorders like psoriasis, vitiligo, eczema, and aging indicators. It is a non-invasive therapy that can complement topical skin treatments and other medical interventions. Light therapy is regulated as a medical device, with 510(k) applications and adherence to light radiation safety guidelines. It is also used in the treatment of mental health conditions like depression, anxiety, and neurodegenerative disorders like Parkinson's disease. The use of photobiomodulation, low-wavelength red light, and other advanced technologies further expands the application of light therapy in healthcare.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-user
Commercial
Domestic
Healthcare
Type
Blue Light
Red Light
White Light
Others
Geography
North America
Europe
Asia
Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
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SOURCE Technavio
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