The Light Therapy Market refers to the market for devices and products used for the delivery of light therapy to treat various medical conditions, such as seasonal affective disorder (SAD), skin conditions, and sleep disorders. Light therapy involves exposure to artificial light, typically from a light box or other device, to simulate natural light and regulate circadian rhythms in the body.
Light therapy devices and products come in a variety of forms, including light boxes, lamps, visors, and wearable devices. The light therapy market has grown in recent years, driven by increasing awareness of the benefits of light therapy, advances in technology and product design, and increasing availability of light therapy products.
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The light therapy market is expected to continue to grow in the coming years, driven by the increasing prevalence of conditions such as SAD, skin conditions, and sleep disorders, as well as the growing popularity of light therapy as a complementary and alternative therapy. Companies in the light therapy market are actively developing new and innovative products to meet the increasing demand for light therapy and to continue to improve the standard of care for patients.
Despite the growth of the light therapy market, there are still challenges and limitations, including the need for more robust scientific evidence to support the efficacy of light therapy, and the need for better understanding of the optimal use of light therapy in different medical conditions. Companies in the light therapy market are working to address these challenges and to continue to improve the quality and effectiveness of light therapy products.
The global light therapy market generated $521.1 million in 2021, and is expected to reach $802.7 million by 2031, witnessing a CAGR of 4.4% from 2022 to 2031.
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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.
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.
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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.
The report analyzes leading players and outlines various strategies such as partnerships, new product launches, collaborations, expansion, and others adopted by them to raise their market share and consolidate their positions in the market. The report offers a detailed analysis of these players in terms of business performance, operating segments, product portfolio, and developments by every market player.
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