Report ID: 10347679 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Light Therapy Market is valued approximately USD 874.0 million in 2020 and is anticipated to grow with a healthy growth rate of more than 4.9 CAGR over the forecast period 2021-2027. Light therapy is the use of natural light or some kind of similar light to treat such conditions such as skin disorders (psoriasis and vitiligo), neurological disorders (anxiety, depression, seasonal affective disorder (SAD), mood and sleep disorders), certain cancer and precancerous conditions (hyperbilirubinemia, infant jaundice, and others Market growth is fueled by an increase in the prevalence of skin disorders as well as manufacturers' continued investment in launching innovative products. Clarify Medical released a smartphone-connected phototherapy system in February 2018, after receiving FDA approval in June 2017. This cutting-edge technology is used to treat skin conditions such as psoriasis, vitiligo, and eczema. Business growth will be aided by favourable reimbursement policies in developed countries. A flexible spending plan (FSA), a health savings account (HSA), or a health reimbursement programme can be used to pay for light therapy (HRA). The low cost of light therapy compared to laser surgery, as well as people's increasing understanding of their cosmetic appearance, would drive up demand in the coming years. The main factors limiting the growth of the light therapy market are a lack of knowledge about the therapy and a lack of funds invested by companies in research. During the forecast era, the light visor segment is expected to grow at a significant CAGR. In the near future, acceptance of portable lightening devices like light visors for successful patient management will accelerate segment development. Because of the potential for side effects, some customers are hesitant to use light therapy, which is slowing market development.
Technological advancements and growing applications of light therapy, the North American light therapy market is expected to exceed USD 350 million by 2020. Furthermore, the presence of major market players and product availability will boost regional market revenue growth. Thus, the introduction and availability of innovative products, as well as increased awareness and favourable reimbursement policies, will play a critical role in the overall growth of the North American industry.
Major market player included in this report are:
Beurer
Koninklijke
Philips
Aura Daylight
BioPhotas
Lucimed
Zepter International
Verilux,
Northern Light Technologies.
Johnson & Johnson
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product
Light Box
Floor and Desk Lamps
Light Visor
HDST
Dawn Simulator
Light Therapy Bulbs
Others
By Application
Psoriasis
Vitiligo
Eczema
Acne Vulgaris
Winter Blues
Sleeping Disorders
SAD
Others
By Light Type
Blue light
Red light
White light
Others
By End-use
Homecare settings
Dermatology clinics
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of Light Therapy in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Report ID: 10347679 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
