Global Light Therapy Market – Insights
Light therapy, also known as phototherapy, is the use of light between 390 nm – 1,100 nm wavelengths in the treatment of various diseases including depression, jet lag, sleep disorders, and seasonal affective disorder (SAD).
Global Light Therapy Market: Drivers
Increasing prevalence of depression is expected to boost growth of the global light therapy market over the forecast period. For instance, according to world Health Organization (WHO), depression is a common mental disorder and over 300 million people of all age groups suffer from the disease, annually worldwide.
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Light therapy leads to photo-oxidation and is therefore used as a primary therapy for neonatal jaundice, eczema, and psoriasis. Narrow band ultraviolet (UVB) and broad band UVB phototherapy aid in the treatment of skin disorders. Increasing prevalence of skin conditions is expected to boost growth of the market. Fop instance, according to WHO, psoriasis affects around 2% of the world population, with nearly two thirds of people having mild form while others having extensive involvement of skin. Moreover, favorable reimbursement policies and insurance for such treatments is also expected to propel growth of the global light therapy market.
LED light therapy offers more positive outcomes compared to other conventional therapies. The blue and red light emitted in the therapy aid in the treatment of acne and wrinkles. Moreover, use of LED light therapy in acne Treatment offers cellular rejuvenation and improved blood circulation. High prevalence of seasonal affective disorder in developed countries, increasing adoption of light therapy devices such as light boxes and handled devices, and increasing prevalence of skin-related diseases is also expected to propel growth of the market.
However, low investment in R&D in light therapy and side effects of the therapy are expected to hinder growth of the global light therapy market.
Global Light Therapy Market Taxonomy
On the basis of product type, the global light therapy market is segmented into:
- Light Box
- Floor and Desk Lamps
- Light Visor
- Dawn Simulator
- Light Therapy Bulbs
- Handheld Devices for skin treatment
On the basis of light type, the global light therapy market is segmented into:
- White Light
- Blue Light
- Red Light
- Others (green light, yellow light)
On the basis of end user, the global light therapy market is segmented into:
- Dermatology Clinics
- Homecare Settings
- Others (workplace, salons)
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Global Light Therapy Market: Regional Analysis
North America is expected to hold dominant position in the global light therapy market over the forecst period. This is attributed to high prevalence of psoriasis and other dermatological diseases in the U.S. For instance, according to American Academy of Dermatology (AAD), psoriasis is a common skin disorder that affected around 7.5 million people in 2013 in the U.S.
Increasing awareness regarding skin health and high prevalence of skin diseases is expected to boost growth of the market in Asia Pacific. For instance, according to International Federation of Psoriasis Associations (IFPA), in 2014, over 43 million people suffered from psoriasis in Asia Pacific. China is expected to hold dominant position in Asia Pacific market, owing to increasing geriatric population and high incidence of dermatological diseases in the country.
Global Light Therapy Market: Competitive Landscape
Major players operating in the global light therapy market include, Northern Light Technology, Beurer, PhotoMedex, Inc., Nature Bright, Koninklijke Philips N.V., Aura Daylight, Sphere Gadget Technologies, Verilux, Inc., Klarstein, Zepter International, Luminette, and Lumie.
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