Light Therapy Market Share is Anticipated to Surpass USD 1.19 Billion Rising at a 5.10% CAGR by 2030
Research Reports
Sep 11, 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 global light therapy market is expected to reach USD 1.19 billion by 2030, growing at a CAGR of 5.10% from 2022 to 2030. The market is driven by the increasing prevalence of skin diseases, the growing awareness about the benefits of light therapy, and the rising adoption of home-based light therapy devices.
Light therapy, also known as phototherapy or heliotherapy, is a treatment that uses natural or artificial light to improve the health of the skin and body. It is used to treat a variety of conditions, including seasonal affective disorder (SAD), sleep disorders, and skin conditions such as acne and psoriasis.
The hospital segment is the largest market for light therapy, accounting for over 30% of the total market revenue in 2022. This is due to the widespread use of light therapy in the treatment of SAD, sleep disorders, and skin conditions in hospitals. The clinic segment is expected to grow at the fastest CAGR during the forecast period, due to the increasing adoption of light therapy in dermatology clinics and other healthcare settings. The home care settings segment is also expected to grow at a significant rate, due to the rising adoption of home-based light therapy devices.
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Key Players
Some of the key players in the light therapy market include Beurer (Germany), Northern Light Technology (Canada), BioPhotas (US), Chal-Tec GmbH (Germany), Koninklijke Philips (Netherlands), Lucimed SA (Belgium), Lumie (UK), Verilux (US), Nature Bright (Taiwan), Zepter International (Switzerland).
Market Segmentation
The light therapy market can be segmented based on product type, application, end-user, and region.
Analysis by product type, the market can be segmented into light therapy lamps, light therapy boxes, light therapy masks, dawn simulators, handheld devices, and others.
Analysis by application, the market can be segmented into skin diseases, mood disorders, sleep disorders, neonatal jaundice, wound healing, pain management, and others.
Analysis by end-user, the market can be segmented into home care settings, dermatology clinics, psychiatric hospitals, and others.
Analysis by 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
North America is the largest market for light therapy, accounting for over 33% of the global market share in 2022. This is due to the high awareness about light therapy, the presence of a large number of hospitals and clinics, and the high disposable income of the population. The United States is the largest market in North America, followed by Canada and Mexico.
Europe is the second largest market for light therapy, accounting for over 25% of the global market share. The European market is driven by the increasing demand for light therapy in the treatment of SAD, sleep disorders, and skin conditions. Germany, France, and the United Kingdom are the largest markets in Europe.
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Asia Pacific is the fastest growing market for light therapy, with a CAGR of over 10% during the forecast period. The growth of the Asia Pacific market is driven by the increasing prevalence of skin diseases, the growing awareness about the benefits of light therapy, and the rising adoption of home-based light therapy devices. China, India, and Japan are the largest markets in Asia Pacific.
Latin America is the fourth largest market for light therapy, accounting for over 10% of the global market share. The Latin American market is driven by the increasing prevalence of skin diseases, the growing awareness about the benefits of light therapy, and the rising disposable incomes in some countries. Brazil, Mexico, and Argentina are the largest markets in Latin America.
Middle East and Africa is the smallest market for light therapy, accounting for less than 5% of the global market share. However, the Middle East and Africa market is expected to grow at a significant rate during the forecast period, driven by the increasing prevalence of skin diseases and the rising disposable incomes in some countries. Saudi Arabia, Egypt, and South Africa are the largest markets in the Middle East and Africa.
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