Light Therapy Market Growth, Size, Share, Top Companies, Manufacturing Cost Analysis and Future Forecast Up to 2030
According to the most recent analysis by Emergen Research, the global market for light therapy had a USD 1.10 billion value in 2021 and is anticipated to grow at a revenue CAGR of 5.1% over the following five years. Between 2021 and 2030, it is expected that factors including technological developments in light therapy and the introduction of novel products, like handheld light treatment devices, will promote market revenue growth.
Light treatment, commonly referred to as bright light therapy or phototherapy, is a technique that involves exposing patients to artificial light in order to treat medical ailments. The patient sits or works close to the light therapy box while receiving treatment. The box emits strong light that closely resembles outdoor sunlight, which alters brain chemicals linked to mood and sleep and lessens the symptoms of sickness. Types of depression, SAD, dementia, psoriasis, sleep difficulties, and other illnesses are all treated with light therapy.
Growth in the light therapy market is driven by factors such as expanding applications of light therapy for skin illnesses, rising prevalence of depression and mental disorders, and advantageous reimbursement policies for such treatments. Additionally, widespread use of light therapy tools including light boxes and handheld devices is anticipated to have an impact on market expansion. Over the projected period, adverse effects related to the therapy are likely to hinder demand for light therapy globally.
Some Key Highlights From the Report
Throughout the projection period, the psoriasis segment is anticipated to record a consistent CAGR in sales. Managing symptoms of psoriasis, which creates scaly patches on the skin’s surface and has no known cure, is crucial. Psoriasis is frequently treated with blue light therapy and UV exposure.
Due to the rise in skin problems, the Handheld Skin Treatment Devices (HSTDs) market is anticipated to see a high revenue CAGR. HSTDs can be used to treat many different body parts, including spot treatment wands, slim panels, and others. They are portable, come in all sizes, and have a variety of designs. Over 50 million Americans suffer from acne each year, according to the American Academy of Dermatology.
During the projected period, the Asia Pacific market is anticipated to have the fastest rate of revenue growth. Growing demand for light therapy to treat psoriasis and acne vulgaris is anticipated to propel global revenue growth. Additionally, rising consumer awareness of personal wellness and health is anticipated to fuel market revenue expansion.
Key Players include Koninklijke Philips N.V., Chal-Tec GmbH, Alexion Pharmaceuticals, Inc., Lucimed, Soligenix, Lumos, Gleam, Northern Light Technologies, Zepter International, SPHERE Technology Solutions, Photomedex.com, Lumie, and Joovv, Inc.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/light-therapy-market
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