Light Therapy Global Market Report 2024

“Light Therapy Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on light therapy market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for light therapy? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The light therapy market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Product: Light Box; Floor And Desk Lamps; Handheld Devices For Skin Treatment; Light Visor; Dawn Simulator; Light Therapy Lamps; Other Products
• 2) By Light Type: White Light; Blue Light; Red Light; Other Light Types
• 3) By Application: Psoriasis; Vitiligo; Eczema; Acne Vulgaris; SAD/Winter Blues; Sleeping Disorders; Other Applications
• 4) By End User: Homecare Setting; Hospital; Dermatology Clinics; Other End Users
• Companies Mentioned: Verilux Inc.; Koninklijke Philips NV; Zepter International Switzerland AG; Beurer GmbH; Nature Bright Co.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Light therapy, also known as phototherapy, is a non-invasive medical treatment that addresses various skin diseases by utilizing different wavelengths of light for a specified duration. This treatment aims to stimulate cellular activity and enhance the healing process. Light therapy is applied in the treatment of autoimmune diseases, bacterial and fungal infections on the skin, psychiatric conditions, retinal diseases, and tumors.

The main types of products in light therapy include light boxes, floor and desk lamps, handheld devices for skin treatment, light visors, dawn simulators, light therapy lamps, and others. Lightboxes are flat boxes with a glass or plastic side and an electric light inside, providing even illumination. They are used in light therapy to adjust chemicals in the brain, improving mood and alleviating symptoms of seasonal affective disorder (SAD). Major types of light used in therapy include white light, blue light, red light, and others. These are applied for conditions such as psoriasis, vitiligo, eczema, acne vulgaris, seasonal affective disorder/winter blues, sleeping disorders, and more. Light therapy is utilized by various end users, including homecare settings, hospitals, dermatology clinics, and others.

The light therapy market research report is one of a series of new reports from The Business Research Company that provides light therapy market statistics, including light therapy industry global market size, regional shares, competitors with a light therapy market share, detailed light therapy market segments, market trends and opportunities, and any further data you may need to thrive in the light therapy industry. This light therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The light therapy market size has grown strongly in recent years. It will grow from $1.18 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The expansion observed in the historical period can be attributed to factors such as advancements in medical research, clinical validation of light therapy, increased acceptance within the healthcare sector, growing consumer awareness, and the gradual adoption of light therapy in the market.

The light therapy market size is expected to see strong growth in the next few years. It will grow to $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be attributed to factors such as the increasing emphasis on personalization and customization in healthcare, growing awareness of mental health, the rise of telehealth and remote care solutions, and supportive regulatory measures. Key trends expected in the forecast period include the expanded clinical applications of light therapy, the development of home-use devices, increased investment in research and development, professional endorsement of light therapy, and heightened accessibility and awareness among the general population.

The anticipated rise in the prevalence of skin diseases is poised to drive the growth of the light therapy market in the foreseeable future. Skin diseases encompass a diverse range of ailments affecting the skin, arising from various causes such as bacterial, viral, fungal, allergy, and parasitic infections, as well as intrinsic skin factors. Light therapy, utilizing light waves, emerges as a treatment method for specific skin conditions such as psoriasis, eczema, mycosis, vitiligo, and others. This therapeutic approach involves exposing the skin to ultraviolet (UV) light for a specified duration, often in conjunction with medication that boosts skin immunity. This combination aids in the natural treatment of skin conditions, reducing cell development and inflammation associated with skin disorders. For instance, a report from the Centers for Disease Control (CDC) in March 2023 noted an increase in Candida auris (C. auris) cases from 476 in 2019 to 1,471 in 2021 in the US. Moreover, according to the National Psoriasis Foundation in December 2022, psoriasis affects 125 million people globally, constituting 2 to 3 percent of the overall population. The heightened prevalence of skin diseases serves as a driving force behind the growth of the light therapy market.

The growing demand for anxiety treatment is anticipated to propel the expansion of the light therapy market in the coming years. Anxiety treatment encompasses a spectrum of therapeutic interventions and strategies aimed at alleviating symptoms associated with anxiety disorders. Light therapy emerges as a valuable tool in this context, contributing to the regulation of circadian rhythms, increased serotonin production, stimulation of melatonin production, cortisol level reduction, improved mood and energy levels, influence on sleep-wake cycles, and promotion of better sleep. The positive impact on anxiety symptoms positions light therapy as a sought-after treatment. According to the American Psychological Association in October 2021, the demand for anxiety treatment increased, with over 8 in 10 (84%) psychologists specializing in anxiety disorders noting a rise compared to the previous year. Thus, the escalating demand for anxiety treatment is a significant driver of the light therapy market.

Technological advancements emerge as a prominent trend gaining momentum in the light therapy market, with major players directing their efforts toward innovative technologies to maintain market leadership. For example, in June 2022, LightStim, a US-based manufacturer of LED-based devices, launched Elipsa, a next-generation HydraFacial system targeting wrinkles, pain, and acne. Elipsa stands out as the first LightStim device offering dual treatment modes for wrinkles and acne, utilizing patented LightStim MultiWave technology. The device enhances treatment efficacy and delivers a relaxing experience, demonstrating the commitment to incorporating advanced technologies in the light therapy market.

Major companies in the light therapy market focus on innovative products, including topical skincare products, to drive market revenues. These skincare products are designed to complement the effectiveness of clinically validated LED light therapy treatments such as omnilux men and omnilux contourface. For instance, in June 2023, GlobalMed Technologies, a US-based company manufacturing and supplying medical and aesthetic devices, introduced a skincare collection to enhance the efficacy of their omnilux contour light therapy products. These products aim to reduce wrinkles, fine lines, and improve skin tone, offering consumers and skincare specialists a comprehensive solution. The topical skincare products are tailored to maximize the benefits of LED light therapy throughout various stages of treatment, supported by clinical studies, making them accessible for home use while delivering professional-grade results.

In March 2023, Eypex Corporation, a US-based company specializing in lighting and magnetic fastening products for the automotive industry, completed the acquisition of Just Light Technology Inc. This strategic move enabled Eypex Corporation to enter the expanding market for consumer-focused light therapy and UV germicidal disinfection products, expanding beyond the automotive sector. The acquisition leveraged Just Light Technology's expertise in therapeutic devices and smart light technologies, facilitating Eypex Corporation's diversification into the consumer sector. Just Light Technology Inc. is a US-based manufacturer of LED Smart Lighting Systems.

Major companies operating in the light therapy market report are Verilux Inc., Koninklijke Philips NV, Zepter International Switzerland AG, Beurer GmbH, Nature Bright Co., Lucimed SA, Aura Daylight LLC, Northern Lights Inc., PhotoMedex Inc., Sphere Gadget Technologies, Compass Health Brands, TheraLight LLC, BioPhotas Inc., The Daylight Company, Zerigo Health, Northern Light Technology, Chal-Tec GmbH, Novartis International AG, Centre for Process Innovation Ltd., Nanoscope Therapeutics Inc., Soligenix Inc., Vicentra BV, Odin Medical Ltd., Lumeda Inc., Ray Therapeutics Inc., InGel Therapeutics Inc., NeoLight LLC, Berkeley Lights Inc., GelMEDIX Inc., Johnson and Johnson Services Inc., Lumos Products Ltd., Carex Health Brands Inc., Revian Inc.

North America was the largest region in the light therapy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global light therapy market report during the forecast period. The regions covered in the light therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the light therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The light therapy market consists of revenues earned by entities by providing various light therapy services such as photo-biomodulation therapy (PBMT), photodynamic Therapy (PDT), full-body light therapy, and targeted full-body light therapy for treating skin diseases. The market value includes the value of related goods sold by the service provider or included within the service offering. The light therapy market also includes sales of infrared light devices, UV light source devices, light therapy tools with multiple colors, and mood-boosting light therapy devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.