Light Therapy- Market Insights, Competitive Landscape, and Market Forecast - 2027

Light Therapy- Market Insights, Competitive Landscape, and Market Forecast - 2027

Light Therapy Market By Product Type (Lightbox, Floor And Desk Lamp, Light Visor, And Others), By Light Type (Blue Light, White Light, Red Light, And Others), By End-User (Homecare Settings And Dermatology Clinics), by geography is estimated to register growth at a remarkable CAGR forecast during 2022-2027 owing to rising number of individuals suffering from mood and sleep disorders and rising technological advancements in light therapy

The global light therapy market is estimated to grow at a CAGR of 5.47% during the forecast period from 2022 to 2027. The light therapy market is slated to witness prosperity owing to factors such as the growing prevalence of chronic skin problems such as acne and psoriasis among others coupled with rising awareness of skincare, an increasing number of individuals suffering from mood and sleep disorders, rising technological advancements in light therapy, and the growing focus on improving the safety and usability of light therapy are further expected to result in the appreciable revenue growth in the light therapy market during the forecast period (2022-2027).

Light Therapy Market Dynamics

One of the noteworthy drivers of the light therapy market is the rising prevalence of skin problems including acne, scars, eczema, and psoriasis among others. Acne is the most common skin problem associated with the occurrence of pimples, whiteheads, and blackheads on the face sometimes leading to temporary or permanent scarring thus requiring skin treatment such as light therapy for healthy skin. Thereby, positively impacting the light therapy market growth. For example, Omnilux CLEAR™ by GlobalMed Technologies (GMT) is FDA approved first at-home light therapy mask that is using a powerful combination of red & blue light to treat mild to moderate acne vulgaris.

Also, the rising awareness among people regarding their skin health owing to face-to-face resumption post-COVID, social media, and beauty advertisements among others is another factor driving the growth of the light therapy market.

Another major issue affecting positively, the growth of the light therapy market is the rising number of individuals suffering from mood and sleep disorders. For instance, according to the World Health Organization 2021, worldwide around 280 million people were suffering from depression in 2019. Light therapy is found to be efficacious in the management of mood disorders such as major depressive disorder (MDD) with seasonal patterns and sleep disorders such as obstructive sleep apnea, insomnia, and others.

However, lack of awareness of light therapy and complications associated with light therapy may act as restraining factors to the light therapy market growth.

During the period of the COVID-19 pandemic, the light therapy market growth has shown some decline due to the shifted primary focus on first treating patients suffering from COVID- 19. The dermatology clinics were closed down during the pandemic owing to the lockdown and also to avoid any chance of spread of infection. Also, the manufacturing, supply, import, export, and other related activities of light therapy devices were affected. However, as everything has been normalized post-COVID-19, and with the increase in public awareness of skin care and regular check-ups and treatment for skin diseases along with increasing cases of depression, and others there is a growth observed in the light therapy market. Thus, the market seems to grow effectively during the forecast period from 2022 to 2027.

Light Therapy Market Segment Analysis:

Light Therapy Market by Product Type (Light Box, Floor and Desk Lamp, Light Visor, and Others), Light Type (Blue Light, White Light, Red Light, and Others), End-User (Homecare Settings and Dermatology Clinics), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

Based on the light type segment of the light therapy market, the red light category is projected to register a significant growth in revenue in the light therapy market during the forecast period (2022-2027). This can be ascribed to the advantages and applications associated with red light therapy.

Red light promotes the recovery of the wound and other injuries at a faster rate than other traditional treatments. It also provides relief from muscle pain, atrophy, and other damages that happened due to sports and other injuries.

Red light therapy helps to cure several skin conditions such as acne, eczema, psoriasis, and rosacea. It also has some anti-aging benefits such as reducing wrinkles and other signs of aging.

Moreover, red light therapy is capable of stimulating hair growth and is considered a safe and effective method for hair loss treatment for both males and females.

Therefore, considering the growing demand for red light-based light therapy, numerous new products are being developed and launched in the market.

For instance, In October 2021, Lifepro, an industry leader in wellness and recovery equipment, announced its Red Light Therapy line including products such as Lifepro VizaCure Light Therapy Mask, Lifepro AllevaRed Light Therapy Belt, and LumiCare Light Therapy Torch.

Therefore, owing to the advantages and applications associated with red light therapy along with the increasing product launches in the market, the category is expected to witness considerable growth eventually contributing to the overall growth of the global light therapy market during the forecast period.

North America is expected to dominate the overall Light Therapy Market:

The light therapy market is going to see prosperity in the North America region specifically owing to key factors including, increasing prevalence of skin problems, rising number of individuals suffering from mental health conditions and sleep disorders, high-tech medical facilities, government support, presence of key players, and highly potent market in terms of product launches among others.

The rising cases of mood and sleep disorders are likely to accelerate the demand for light therapy in the region. According to the National Institute of Mental Health (NIMH) 2022, around 21.0 million adults had at least one major depressive episode in 2020 in the United States. As per the same source, about 66.0% of adults aged between 18 and above received treatment for a major depressive episode in the US in 2020.

Also, as per the National Center for Health Statistics under the Centers for Disease Control and Prevention 2022, about 14.5% of adults faced trouble falling asleep and around 17.8% of adults had trouble staying asleep in the US in 2020.

The increasing cases of dry eyes in the region are further going to assist in the increasing demand for light therapy. For instance, as per National Eye Institute 2022, about 16 million people in the US are suffering from dry eyes. Light therapy such as Intense Pulsed Light Treatment is effective for the treatment of dry eyes. IPL cures dry eyes by targeting the major cause of dry eyes which is Meibomian Gland Dysfunction.

Therefore, the above-mentioned factors are expected to bolster the growth of the light therapy market in the United States during the forecast period.

Light Therapy Market Key Players:

Some of the key market players operating in the light therapy market include Koninklijke Philips N.V., Light Tree Ventures, Carex (Compass Health Brands), NATUREBRIGHT, Beurer, BioPhotas, Johnson & Johnson Services, Inc., Lucimed, Verilux, Inc., Northern Light Technologies, PhotoMedex, TheraLight LLC, Zepter International, PhotonMD, Inc., LED Technologies, Kaiyan Medical, GlobalMed Technologies (GMT), Lumenis Be Ltd., Aphrona Beauty, PhotoPharmics, and others.

Recent Developmental Activities in the Light Therapy Market:

In September 2021, GlobalMed Technologies (GMT) announced the launch of the first at-home light therapy mask named Omnilux CLEAR™ for treating acne.

In April 2021, Lumenis Ltd., the world's largest energy-based medical device company for ophthalmic, aesthetic, and surgical applications and the inventor of intense pulsed light (IPL) technology, received the De Novo authorization for its newest IPL device for improving signs of dry eye disease due to meibomian gland dysfunction (MGD) from the USA Food and Drug Administration.

Key Takeaways from the Light Therapy Market Report Study

Market size analysis for current light therapy market size (2021), and market forecast for 5 years (2022-2027)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the light therapy market.

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global light therapy market.

Various opportunities available for the other competitor in the light therapy market space.

What are the top-performing segments in 2021? How these segments will perform in 2027.

Which are the top-performing regions and countries in the current light therapy market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for light therapy market growth in the coming future?

Target Audience who can be benefited from this Light Therapy Market Report Study

Light Therapy products providers

Research organizations and consulting companies

Light Therapy -related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in light therapy.

Various end users who want to know more about the light therapy market and the latest technological developments in the light therapy market.

Frequently Asked Questions For the Light Therapy Market:

1. What is light therapy?

Light therapy also known as phototherapy is about treating medical conditions like skin problems, mood and sleep disorders, dry eyes, and others with the application of light produced from different sources such as fluorescent lamps, lasers, LED, and ultraviolet or infrared radiation.

2. What is the market for global light therapy?

The global light therapy market is estimated to grow at a CAGR of 5.47% during the forecast period from 2022 to 2027.

3. What are the drivers for the global light therapy market?

The light therapy market is slated to witness prosperity owing to factors such as the growing prevalence of skin conditions such as acne, eczema, scars, and psoriasis among others, the increasing number of people suffering from mood and sleep disorders, technological advancements in light therapy, and the growing focus on improving the safety and usability of light therapy are further expected to result in the appreciable revenue growth in the light therapy market during the forecast period (2022-2027).

4. Who are the key players operating in the global light therapy market?

Some of the key market players operating in the light therapy market include Koninklijke Philips N.V., Light Tree Ventures, Carex (Compass Health Brands), NATUREBRIGHT, Beurer, BioPhotas, Johnson & Johnson Services, Inc., Lucimed, Verilux, Inc., Northern Light Technologies, PhotoMedex, TheraLight LLC, Zepter International, PhotonMD, Inc., LED Technologies, Kaiyan Medical, GlobalMed Technologies (GMT), Lumenis Be Ltd., Aphrona Beauty, PhotoPharmics, and others.

5. Which region has the highest share in the light therapy market?

North America is expected to dominate the overall light therapy market during the forecast period, 2022 to 2027. This can be ascribed to the rising prevalence of skin diseases, increasing cases of dry eyes, and an increasing number of individuals suffering from mood and sleep disorders in the region. High consumer awareness regarding new market launches and a highly potent market in terms of product development and launches, government support, and the local presence of key market players are among other factors contributing to the growth of the light therapy market in the region.

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