Light Therapy Market Size, Share, Trends, Opportunities, Analysis and Forecast to 2027
Research Reports
Feb 22, 2022
(USA, NY, New York City) MRFR (Market Research Future) reveals that the light therapy market will cross USD 1,112.16 Million by 2027. It is also presumed that the market size will expand at a rate of 5.1% between 2020 and 2027.
Top Boosters and Deterrents
The substantial increase in dermatological cases such as psoriasis, wrinkles, and acne vulgaris in developing as well as developed nations have resulted in significant market growth. Widespread popularity of broad band (UVB) and narrow band ultraviolet (UVB) phototherapy for treating multiple skin disorders has emerged as a great business opportunity for the leading brands. Another factor fostering the market growth can be the surging adoption of handheld devices and light boxes for the treatment of certain skin issues. Light therapy is known for accelerating cellular rejuvenation as well as blood circulation, and the growing awareness regarding this benefit among people should elevate its demand in the following years.
The major UV light therapy techniques such as UVB phototherapy, ultraviolet A and psoralen are increasingly being deployed to bring down the symptoms related to psoriasis. In a few cases, light therapy, along with topical tablets, helps reduce inflammation and curtail the production of skin cells. Several firms are coming up with new equipment and devices while also focusing on innovating the existing product rages to foster their profit margins.
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Key Players
Top companies profiled in the MRFR report are Zepter International (Switzerland), Chal-Tec GmbH (Germany), Lumie (UK), Verilux (US), Northern Light Technology (Canada), Nature Bright (Taiwan), Koninklijke Philips (Netherlands), Lucimed SA (Belgium), BioPhotas (US), Beurer (Germany), to name a few.
Segmental Analysis
Light therapy industry can be considered for product, application, light type, and end user.
The primary products that have been studied in the MRFR report are light therapy bulbs, dawn simulator, floor and desk lamps, handheld devices for skin treatment (HDST), light box, light visor, and others. Light visors are in huge demand and will project the fastest growth in the years to come. The substantial demand for light visors can be accredited to their portability and are used extensively to reduce the effects of SAD, jet lag, and fatigue. However, the biggest segment belongs to the handheld devices as these are largely used for the treatment of a variety of skin disorders and their rising use in homecare settings.
Light therapy has applications in eczema, vitiligo, seasonal affective disorder (SAD), acne vulgaris, psoriasis, and more. Light therapy’s applications in psoriasis are significant, as a result of which the segment should procure the top spot in the coming years. The segment will also chart the fastest progress graph, given the heightened demand for novel therapeutics.
The light types discussed in the report are blue light, red light, white light, and more. The highest market share is owned by the blue light segment, as it is majorly deployed for treating sun damage and skin cancer. But the fastest growth will be shown by the red light segment, considering the extensive use in the treatment of joint pain and arthritis.
The end-users listed are home care settings, dermatology clinics, and others.
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Regional Analysis:
The regions where the light therapy industry should witness growth at varying rates include Europe, MEA or Middle East, the Americas along with APAC/Asia Pacific.
The Americas will most likely procure the leading position in the global market between 2020 and 2027, due to the surging demand for non-invasive procedures and the heavy burden of several dermatological ailments. With leading manufacturers primarily focused on exhaustive research & development activities, in line with the rising cases of skin cancer as well as eczema, the market in the United States is expected to fare well in the coming years.
The APAC market for light therapy is racing ahead at the fastest pace, thanks to the escalating psychological issues including anxiety and depression caused by dermatological conditions. Mounting interest of global companies in setting up business in Asia Pacific and the improvements witnessed by the healthcare infrastructure will also ensure better growth in the ensuing years.
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