Light therapy entails the usage of specially designed light boxes emitting full-spectrum therapeutic lights similar in composition to sunlight to treat persons suffering from circadian rhythm sleep disorders, skin diseases and also those suffering from seasonal affective disorders (SAD). Over the past few years, there has been an increase in prevalance rate of SAD in various developed countries across the globe. Various independent entities have emerged as standalone light therapy companies to cater to the everincreasing demand for products such as light boxes, floor and desk lamps, light visors, dawn simulators, light therapy bulbs and handheld devices for skin treatment. Over the last few years, companies are focused towards introducing portable light therapy devices targeting the consumer segment, which is anticipated to witness surge in market share globally by 2026. Also, Increasing demand for blue light therapy procedures for treatment of various disorders and conditions, including SAD, globally is prompting manufacturers to launch such devices to cater to the growing needs in this regard. These trend are expected to boost overall demand for light therapy market during the forecast period.
Market Value Forecast
In terms of value, the global light therapy market is anticipated to be valued at US$ 1161.5 Mn by 2026, expanding at a moderate CAGR over the forecast period.
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Growth of the global light therapy market is mainly driven by increasing prevalence of SAD in Northern hemisphere such as North America and Europe, along with increasing usage of light therapy for treating acne, anti-ageing and skin diseases. Also, when compared to men, women are known to exhibit higher SAD ratio rate, i.e. 2:1 respectively. Increasing preference for alternative treatments for anxiety and stress among women is expected to boost overall sales of light therapy devices worldwide over the forecast period. Companies are adopting various strategies to sustain in the market and create a distinct value proposition for diverse consumer segments in order to offer cost-effective treatment for various skin disorders with less side-effects. This is in turn expected to drive growth of the light therapy market in developing regions.
The global light therapy market is expected to witness impressive growth over the forecast period. However, lack of funding for light therapy research and post treatment side effects is expected to hamper growth of the global light therapy market.
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Segmentation by Product
The global light type market is segmented on the basis of product type into light box, floor and desk lamps, light visor, dawn simulator, light therapy bulbs and handheld devices for skin treatment. Among the various product type segments, light box segment is expected to account for highest market share and register a CAGR of 4.3% between 2016 and 2026.
Segmentation by Light Type
The global light therapy market is segmented on the basis of light type into white light, blue light, red light and others (green light, yellow light). Among the light type segments, the white light segment is expected to witness most impressive growth during the forecast period.
Segmentation by End User Type
The global light therapy market is segmented on the basis of end user type as dermatology clinics, homecare settings and others (workplace, salons). Among the end user type segments, homecare settings segment is expected to witness relatively impressive growth during the forecast period.