Light Therapy Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Light Therapy Market 
Industry / Sector Trends

Light Therapy Market size was valued at USD 811.8 million in 2018 and is expected to witness 4.6% CAGR from 2019 to 2025.
Growing burden of dermatological disorders such as wrinkles, acne vulgaris and psoriasis in developed as well as developing countries will drive light therapy market during the forecast period. Extensive use of broad band (UVB) and narrow band ultraviolet (UVB) phototherapy for treating skin disorders will propel industry growth. Moreover, rising adoption of handheld devices and light boxes to treat specific skin disorders will accelerate the demand for light therapy devices. Benefits offered by light therapy such as improved blood circulation and cellular rejuvenation should further accelerate light therapy business growth.

Favourable reimbursement scenario in the developed economies will further enhance light therapy industry growth. Reimbursement policies for cancer, psoriasis, neonatal jaundice and eczema in developed countries will increase the demand for light therapy. Furthermore, rising R&D investments by industry players for developing technologically advanced light therapy devices will significantly upsurge revenue size during the analysis timeline. Various insurance policies offering easy, accessible and affordable light therapies will propel business growth. However, side effects of light therapy including nausea and headache may impede light therapy business growth over the coming years.

Market Segmentation, Outlook & Regional Insights: Light Therapy Market

Light Therapy Market, By Product

Handheld devices for skin treatment (HDST) segment held over 16.5% revenue share in 2018 and is projected to grow significantly by 2025. Ability of handheld devices to avoid cell disruption during light therapy device placement will upsurge its adoption in noninvasive interventions. Wide adoption of handheld devices in homecare settings will thus spur segment size.

Light visor segment is projected to witness robust CAGR of more than 4% over the forthcoming years. Adoption of portable lightening units such as light visors for effective patient management will accelerate segment growth over the coming years.

Light Therapy Market, By Application

Sleeping disorder segment was valued over USD 110 million in 2018 and is estimated to witness similar trend during the forecast period. Rising prevalence of sleep disorders such as depression, insomnia and jet lag will boost the segment growth. Growing demand for light therapy for patients suffering from circadian rhythm will upsurge its adoption in the foreseeable future.

Psoriasis segment held considerable revenue share in 2018 and is anticipated to witness around 4.4% CAGR over the analysis period. Segment growth is attributed to increasing prevalence of psoriasis worldwide. Psoriasis patients that are highly susceptible to chronic, inflammatory arthritis resulting in joint deformations will thus augment business growth.

Light Therapy Market, By Light Type

Blue light segment accounted for more than 26% revenue share in 2018 and will exhibit substantial growth over the coming years. Extensive adoption of blue light in the treatment of sun damage as well as premalignant or malignant skin cancer should propel segment growth.

Red light segment is anticipated to witness around 4.5% CAGR over the forthcoming years. Wide application of red-light therapy in the treatment of orthopedic conditions such as joint pain, inflammation and arthritis will surge its adoption over the coming years.

Germany Light Therapy Market Size, By Light Type, 2018 (USD Million)

Light Therapy Market, By End-use

Dermatology clinics held more than 26% revenue share in 2018 and will exhibit momentous growth over the forecast timeline. Rising incidence of skin disorders coupled with increasing demand for non-invasive procedures will foster segment growth during the forthcoming years.

Homecare settings segment was valued around USD 495 million in 2018 due to increasing patient preference towards homecare. Benefits offered by homecare settings such as quality treatment at affordable prices and reduced risk of dermatological clinics acquired infections will fuel the business growth.

Light Therapy Market, By Region

North America light therapy market will witness over 4% CAGR over the analysis timeline. Rising prevalence of skin disorders including eczema and skin cancer in North America is key factor driving light therapy business growth. Strong foothold of key industry players in the region will positively impact industry growth.

Asia Pacific light therapy market was valued more than USD 175 million revenue in 2018. Urbanization, changing lifestyle and increasing prevalence of depression and hypertension in the region will favor regional business growth. Increasing healthcare reforms in countries such as China will further drive Asia Pacific light therapy industry growth in the coming years.

Asia Pacific Light Therapy Market Size, By Country, 2025 (USD Million)

Key Players, Recent Developments & Sector Viewpoints: Light Therapy Market

Some of the eminent industry players operating in light therapy market include Beurer, Northern Light Technology, Koninklijke Philips, Aura Daylight, Lumie, BioPhotas, Chal-Tec, Sphere Gadget Technologies, Lucimed, Nature Bright, Neutrogena, Zepter International, Photomedex and Verilux. These business players implement various strategies such as partnership, acquisition and novel product launch to capitalize on market opportunities and sustain market competition. For instance, in January 2018, BioPhotas commercially introduced Celluma HOME, a fourth model in the Celluma Series of light therapy devices, for treatment of arthritis, muscle spasms, muscle & joint pain, full face wrinkles as well as poor blood circulation. This product launch helped company to enhance its light therapy product portfolio and gain more market share.

Light Therapy Industry Viewpoint

History of light therapy can be dated back in 1903, when Niels Ryberg Finsen, developed a device that produced synthesized light and was awarded Nobel Prize in Medicine for the discovery. In 1938, a hospital in Massachusetts performed effective testing on patients with coloured lights, revealing that red light had a stimulating effect whereas blue had a soothing effect. Later, Vanessa Cisneros at the Healing Elephant Clinic in 2016, studied light and sound therapy that can transform the mind and deeply heal the body. Light therapy is now considered as the standard of care for the treatment of various diseases by most of the healthcare professionals. Focus of business players on development of advanced technologies have led to introduction of various light therapy devices over the recent years. Increasing adoption of non-invasive interventions as well as potential of light therapy to treat skin cancer and other skin diseases will eventually enhance light therapy business growth during the forthcoming year

Key Insights Covered: Exhaustive Light Therapy Market

1. Market size (sales, revenue and growth rate) of Light Therapy industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Light Therapy industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Light Therapy industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Light Therapy industry.

Research Methodology: Light Therapy Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.