Light Therapy Market | Current Trends and Growth Drivers Along with Key Industry Players

The growth of the global light therapy market is driven by increasing skin diseases, increasing number of patients suffering from depression, increasing prevalence of depression and - affect time and situational problems. Also, the increase in the desire for beauty causes an increase in the number of light treatments in women. Therefore, it is expected that this will increase the growth of the market. For example, according to the National Psoriasis Foundation, in 2021, approximately 3 percent of US adults will be diagnosed with psoriasis. In addition, narrow ultraviolet B therapy is often used in the treatment of psoriasis, increasing the demand for light therapy. In addition, the use of portable laser devices for skin treatment by dermatologists is also driving the laser treatment market. Lasers have been reported to be effective in treating acne vulgaris, increasing the market for laser treatments

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Additionally, the growth of the light therapy market is boosted by factors such as greater concern for physical appearance, increase in sedentary lifestyle, increase in seasonal depression during winter, and I increase the amount that is deducted. In addition, the proliferation of new products by major players such as fire visors and wearable devices is boosting the fire treatment market opportunity.

Covid-19 Scenario:

Governments of many countries implemented lockdown restrictions that made people stay in their homes for long period of time. This, in turn, led to increase in cases of depression and mood conditions. The implementation of light therapy surged for treating these mental health conditions. This factor led to the growth in the market revenue.

As per the regulations, non-urgent surgeries were either cancelled or postponed to take care of surge in number of patients. So, treatments that involve light therapy for different skin disorders were postponed during the pandemic. So, the usage of light therapy reduced. However, the usage is estimated to increase post-pandemic.

Impact Analysis - Light Therapy Market Research
Analysts at Allied Market Research constantly monitor the Light Therapy industry factors with impacts of current events; with this study an update of how industry players have tackled latest scenario and what key strategies have made significant difference is showcased.

Key Highlights from Light Therapy Market Study.

Revenue and Sales Estimation - Historical Revenue and sales volume is presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well recognized Types and end-use industry. Additionally, macroeconomic factor and regulatory policies are ascertained in Light Therapy industry evolution and predictive analysis.

FIVE FORCES ANALYSIS - In order to better understand Light Therapy Market condition five forces analysis is conducted that includes Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.

Competition - Leading players have been studied from Light Therapy Industry depending on their company profile, product portfolio, capacity, product/service price, sales, and cost/profit.

Demand & Supply and Effectiveness - Light Therapy report additionally provides distribution, Production, Consumption & EXIM** (Export & Import). ** If applicable

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The research provides detailed segmentation of the global light therapy market based on product, application, light type, and region. The research discusses these segments along with sub-segments to determine the highest revenue-generating and fastest-growing segments for startups, leading players, and investors. Market size and forecasts for each segment and its sub-segments are provided in the report to determine the strategies that can be adopted for achieving the growth.

Based on product, the floor and desk lamps segment held the highest share in 2021, accounting for more than one-fourth of the total share, and is projected to continue its leadership status during the forecast period. However, the handheld devices for skin treatment (HDST) segment is expected to manifest the highest CAGR of 5.5% from 2022 to 2031. The report analyzes the segments including light box, light visor, and others.

Based on application, the skin conditions segment accounted for the highest share in 2021, contributing to more than half of the global light therapy market, and is projected to maintain its lead in terms of revenue during the forecast period. Moreover, this segment is expected to manifest the highest CAGR of 4.8% from 2022 to 2031. The report also analyzes the segments including mood and sleep conditions and others.

Based on light type, the blue light segment contributed to the highest share in 2021, holding nearly two-fifths of the market, and is expected to dominate in 2031. However, the red light segment is projected to grow at the highest CAGR of 5.3% during the forecast period. The research also analyzes the segments including white light and others.

Based on region, North America accounted for the highest share in 2021, holding nearly half of the global light therapy market, and is expected to maintain its dominance by 2031. However, Asia-Pacific is estimated to grow at the fastest CAGR of 6.2% during the forecast period. The research also analyzes regions including Europe and LAMEA.

Leading market players of the global light therapy market analyzed in the research include Beurer GmbH, Johnson and Johnson, Biophostas Inc. (Celluma), Lucimed S.A., Koninklijke Philips, Nature Bright, Lumie, Photomedex Inc., Northern Light Technologies, Verilux, Inc., TheraLight Llc, and Zepter International.

Light Therapy Market: By Region Outlook

North America (U.S., Canada, Mexico)
Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)

Important Questions Being Answered by This Market Report Are -

Q1. What is the estimated industry size of Light Therapy?
Q2. What are the upcoming trends of Light Therapy Market in the world?
Q3. What is the base year considered in Light Therapy Market?
Q4. What is the leading application of Light Therapy Market?
Q5. Which is the largest regional market for Light Therapy?

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