Light Therapy Market

Light Therapy Market Size (2023 to 2028)

The global light therapy market size is estimated to escalate at a CAGR of 5.6% between 2023 to 2028 and be worth USD 1.42 billion by 2028 from USD 1.08 billion in 2023.

Light therapy treats seasonal affective disorders and other diseases like sleep disorders and skin disorders due to exposure to artificial light. Light therapy is a method of regulating seasonal mood swings, improving sleeping patterns, and producing a general sense of well-being through daily, scheduled exposure to intense levels of artificial light. Light Therapy is more widely utilized as a non-pharmacological treatment for various health issues, including obesity, seasonal affective disorder, depression, and sleep-related and behavioral issues. Because light therapy induces photo-oxidation, it is frequently used to treat new-born jaundice, dermatitis, and psoriasis. In addition, light therapy treats cosmetic conditions, including deep wrinkles, acne, vitiligo, skin illnesses like eczema, psoriasis, precancerous skin lesions, and skin diseases like eczema, psoriasis, and vitiligo.

MARKET DRIVERS:

The growing patient count suffering from skin disorders worldwide and the growing preference for light therapy propel the global light therapy market growth.

The prevalence of skin diseases such as acne, atopic dermatitis, alopecia, psoriasis, rosacea, skin cancer, and others is growing significantly worldwide. According to the American Academy of Dermatology Association (AAD), an estimated 50 million people suffer from acne in the United States every year. One in ten people suffers from atopic dermatitis in their lifetime. An estimated 7.5 million people in the United States have psoriasis.

The growing availability of products via online platforms and increased awareness among end-users regarding using light treatment solutions to prevent depression promote the market’s growth rate.

The low cost of light treatment compared to laser surgery and increasing awareness among people regarding their aesthetic appearance are predicted to drive the demand for light therapy in the future. The global light therapy market has grown significantly in recent years, owing to increased usage across a wide range of healthcare applications. These services generally treat various skin problems to ensure patients' psychological well-being. The market growth is also expected to be driven by the increase in the advantages given by this therapy, such as cellular regeneration and better blood circulation. In addition, a surge in patient preference for less invasive techniques and technological developments in light treatment would aid market expansion faster. In addition, the market expansion is fuelled by an increase in the incidence of skin diseases and manufacturers' continued investment in launching innovative products.

Furthermore, the light therapy market is expected to be driven by the growing demand for non-invasive techniques and expand customer preferences for light treatment. To increase their product portfolio and enhance their position in the worldwide market, the market players concentrate on inorganic activities such as acquisitions and collaborations, which are projected to fuel market growth. Furthermore, light therapy devices that are portable, lightweight, and handheld are becoming increasingly popular in healthcare settings due to a need for increased comfort and precision when performing therapeutic procedures.

MARKET RESTRAINTS:

The use of light therapy in patients with drug-resistant non-seasonal depression can lead to mania, a hyperactive state likely to hinder market expansion. Such issues are expected to restrict the global light therapy market's growth throughout the forecast period. The significant challenges limiting the development of the light therapy market are a lack of awareness among people regarding light therapies and the high costs associated with the R&D. Because of the risk for significant effects, some customers are hesitant to use light therapy, limiting the market growth. In addition, headaches, burning sensations, eye discomfort, itching, and nausea are all side effects of light treatment. This issue may challenge the growth of the light treatment market soon.

Impact of COVID-19 on the global light therapy market: 

COVID-19 has impacted the market in several ways. First, COVID-19 led to a lockdown in most areas around the world. Second, it negatively impacted the supply chain of the equipment and parts required for light therapy. Third, people have prioritized their disease as secondary as hospitals have turned into the COVID-19 zone in the current scenario. The priority of treating other diseases has become secondary. Fourth, the government and other research institutes have grown the investment in research and development and found new possibilities of Light therapy as a treatment for the underlying disease whose effects get enhanced due to the coronavirus. However, due to the growing adoption of new normalization and the reduced impact of COVID-19, the light therapy market is anticipated to grow considerably during the forecast period.

REPORT COVERAGE:

This research report on the global light therapy market has been segmented & sub-segmented based on the product, application, light type, end-user, and region.

Light Therapy Market – By Product:

• Lightbox
• Floor and desk lamps
• Light visor
• Handheld devices for skin treatment (HDST)
• Dawn simulator
• Light therapy bulbs
• Others

Based on the type, the lightbox segment is one of the most lucrative segments and is anticipated to register a healthy CAGR during the forecast period.

The handheld devices for skin treatment (HDST) segment captured a substantial share of the global market in 2022 and is expected to grow healthy during the forecast period. The segment's growth is primarily driven by the ability of handheld devices to avoid cell disruption during light therapy placement. In addition, increased usage of in-home care will further drive the growth of this sub-segment.

The light therapy bulbs segment is expected to grow the fastest during the forecast period. The growing acceptance of portable lighting devices for effective patient management is one of the major factors promoting the segment's growth. The light visor is one of the best examples of light therapy bulbs.

Light Therapy Market – By Application:

• Psoriasis
• Vitiligo
• Eczema
• Acne Vulgaris
• Seasonal Affective Disorder (SAD)
• Sleeping Disorders
• Others

Based on the application, the psoriasis segment accounted for the largest share of the market in 2022, and the domination of the segment is expected to continue during the forecast period. YOY growth in the number of people who have psoriasis, psoriasis patients being highly susceptible to chronic inflammatory arthritis resulting in joint deformations, is propelling the segment’s growth.

On the other hand, the sleeping disorders segment held a substantial share of the global market in 2022and is expected to showcase a similar trend during the forecast period. The rising prevalence of sleep disorders such as depression, insomnia, and jet lag will boost segment growth. In addition, the prevalence of an unhealthy lifestyle contributes to the segment's growth.

Light Therapy Market – By Light Type:

• Blue Light
• Red Light
• White Light
• Others

Based on the light type, the blue light segment accounted for the largest share in 2022, and the scenario is expected to be the same in the future. Blue light treats skin diseases from sun damage, skin cancer, and acne.

On the other hand, the red-light segment is expected to grow at the fastest rate during the forecast period in the global light therapy market. Red light is used in the treatment of joint pains and arthritis. It is also helpful in treating aging and trauma effects on the skin. In addition, many studies are going on to find if red light can effectively treat muscle atrophy and slow wound healing.

Light Therapy Market – By End-User:

• Homecare Settings
• Dermatology Clinics
• Others

Based on end-user, the dermatology clinics segment had the highest share in 2022 and is expected to grow reasonably in the coming years. Increasing demand for the non-invasive procedure, growing incidence of skin cancer, and growing adoption of light therapy solutions among dermatology clinics promote the segment's growth rate. In addition, improving healthcare service quality will also positively influence the segment's growth.

On the other hand, the homecare segment held a considerable share of the global light therapy market in 2022, owing to the growing cases of skin diseases and the opportunity for treatment at a low cost.

Light Therapy Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, the North American light therapy market had the highest market share in 2022 and is expected to continue the growth momentum during the forecast period. An increase in skin diseases and increased spending on personal healthcare are the main driving factors. In addition, increasing awareness among people has also helped the market grow.

The European light therapy market had the second largest market share due to increased personal disposable income and healthcare facilities improvement. The presence of prominent players will also help the market to grow.

The Asia Pacific light therapy market is expected to grow the fastest during the forecast period. An increase in cases due to the rise in population in countries like India and China will drive the market. In addition, urbanization, changing lifestyles, and the increasing prevalence of depression and hypertension in the region will favor regional market growth.

KEY MARKET PARTICIPANTS:

Aura Daylight, Beurer, BioPhotas, Chal-Tec, Koninklijke Philips, Lucimed, Lumie, Northern Light Technology, Nature Bright, and Neutrogena are some of the companies playing a dominating role in the global light therapy market.

RECENT MARKET DEVELOPMENTS:

• The World's Largest SAD Lamp installation in their window on the main intersection of Shoreditch High Street by Lumie in September 2019.
• According to a recent survey, bright light therapy at midday helped patients with bipolar disorder, according to Northwestern Lights.