Light Therapy Market Share Expected to Register a CAGR of 5.10% to reach USD 1.19 billion by 2030 | Beurer, BioPhotas, Lumie, Verilux
Research Reports
Apr 19, 2023
Light Therapy Market Research Report Information By Product (Light Box, Floor and Desk Lamps, Light Visor, HDST, Others), By Application (Psoriasis, Vitiligo, Eczema, Acne Vulgaris, Others), By Light Type (Blue Light, Red Light, White Light, Others) and By End-User (Homecare Settings, Dermatology Clinics, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.
The light therapy market refers to the global industry involved in the manufacture and distribution of products that use light as a therapeutic modality. Light therapy, also known as phototherapy, involves the use of specific wavelengths of light to treat a variety of conditions, including seasonal affective disorder (SAD), skin disorders, sleep disorders, and pain management.
The Light Therapy Market Size was valued at USD 0.8 billion in 2021 and is projected to grow from USD 0.84 Billion in 2022 to USD 1.19 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.10% during the forecast period (2022 – 2030). The global light therapy market is expected to continue growing at a significant rate over the next few years.
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Key Players
Some of the key players in the light therapy market include Koninklijke Philips N.V., Northern Light Technology, Beurer GmbH, Verilux, Inc., Zepter International, Lumie, Photomedex Inc., Aura Daylight, Nature Bright, and Chal-Tec GmbH.
Market Segmentation
The light therapy market can be segmented based on product type, application, end-user, and region.
Based on product type, the market can be segmented into light therapy lamps, light therapy boxes, light therapy masks, dawn simulators, handheld devices, and others.
Based on application, the market can be segmented into skin diseases, mood disorders, sleep disorders, neonatal jaundice, wound healing, pain management, and others.
Based on end-user, the market can be segmented into home care settings, dermatology clinics, psychiatric hospitals, and others.
Based on region, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
These market segments help identify specific target markets, preferences, and needs, and assist in developing marketing strategies, pricing, and distribution plans. It also helps in understanding the competitive landscape of the light therapy market and identifying potential growth opportunities.
Regional Analysis
The light therapy market is segmented into various regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America and Europe are the largest markets for light therapy products due to the high prevalence of seasonal affective disorder (SAD) in these regions, increasing awareness about the benefits of phototherapy, and the presence of key market players. Additionally, the availability of advanced healthcare infrastructure and higher adoption rates of new and innovative technologies are also factors driving the growth of the light therapy market in these regions.
The Asia Pacific region is expected to witness significant growth in the coming years due to the increasing prevalence of skin disorders and sleep disorders, growing healthcare expenditure, and increasing awareness about the benefits of light therapy. Furthermore, the presence of a large pool of patients suffering from mood disorders, pain management, and skin diseases in countries like India and China is expected to drive market growth in the region.
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Latin America and the Middle East & Africa regions are also expected to experience growth due to the increasing prevalence of mood disorders, skin diseases, and sleep disorders, as well as the rising adoption of new treatment methods. However, the market growth in these regions may be limited by factors such as lack of awareness about light therapy and limited healthcare infrastructure.
Overall, the light therapy market is expected to experience significant growth globally, with different regions offering unique growth opportunities and challenges.
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