Global Light Therapy Market Trends, Size and Share Analysis By Product (Light Box, Floor and Desk Lamps, Light Visor, HDST, Others), Application (Psoriasis, Vitiligo, Eczema, Acne Vulgaris, Others), Light Type (Blue Light, Red Light, White Light) and End-User (Homecare Settings, Dermatology Clinics), Forecast to 2025
The global light therapy market is driven by rising cases of dermatological disorders as well as increasing psychological conditions, and increasing research & development investments. An updated review of the light therapy market dynamics, latest developments, and overall industry performance details are presented in the light therapy market study. The research report is based on primary and secondary data. This information is collected from leading organizations, light therapy market stakeholders, company representatives, and key policy makers. The light therapy market is anticipated to reach USD1,112.16 Million at a CAGR of 5.1% during the forecast period 2019 – 2025, says Market Research Future (MRFR).
The considerable spike in the number of dermatological cases including acne vulgaris, psoriasis and wrinkles in developing and developed countries can be touted as a key growth booster in the light therapy market. Widespread use of narrow band ultraviolet (UVB) and broad band (UVB) phototherapy for treatment of various skin disorders could be a lucrative business opportunity for the key firms in the global market. Another growth rendering factor can be the rising uptake of light boxes and handheld devices for treating certain skin disorders. The fact that the light therapy helps boost cellular rejuvenation and blood circulation, should foster its demand further in the coming years.
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COVID-19 Impact on the Light Therapy Market
The COVID-19 outbreak has caused massive implications for electronics suppliers, in view of the severe supply chain disruptions. While the SARS-CoV-2 pandemic has brought down the sales of a number of consumer goods, the delivery of orders’ lead time has also surged considerably. The worldwide lockdown has curbed the availability of various essential components such as desk lamps, light visor, HDST and more, which are the products commonly used during the light therapy. Increased costs of supply chains are some of the other challenges being faced by the leading firms in the light therapy market.
However, it is anticipated that as soon as the lockdown is lifted, the market could observe significantly better consumer traffic, primarily via online channels. Taking into account the huge revenue loss caused by the novel coronavirus, manufacturers are now redesigning their distribution networks and production plans in tandem with the evolving business scenario across the globe. Most of the companies are also focusing on bridging the demand and supply gap to ensure business continuity, in the face of increasing pandemic.
The global light therapy market has been segmented based on products, light type, applications, and end-users. On the basis of products, the market for light therapy is segmented based on floor and desk lamps, light visor, light box, HDST, and others. Additionally, the market on the basis of applications is segmented into vitiligo, psoriasis, acne vulgaris, eczema, and others. The global market for light therapy is also covered based on the end-users segment which is further split into dermatology clinics, homecare settings, and others. The market on the basis of light type is further segmented into white light, red light, blue light, and others.
Factors like rising awareness about benefits associated with light therapy devices, increased adoption of blue light therapy procedures, and growing prevalence of sad (seasonal affective disorder) support the light therapy market growth.The performance of the light therapy market has also been studied for the past and current years.
The global light therapy market report provides comprehensive analysis of regional markets on the basis of light therapy market performance, market size, and revenue. The report also provides growth projections for the light therapy market. Additionally, the report includes key player profiling. This section covers detailed analysis of major companies operating in the light therapy market. The report also provides key details about these companies
The American market is presumed to take the lead over the next couple of years, thanks to the soaring preference for non-invasive procedures along with the surging burden of various dermatological ailments in the region. The high focus of the vendors on research & development activities also boosts the regional market’s growth. High prevalence of skin cancer and eczema in the United States also adds significantly to the market value in the region.
The APAC market will be charging ahead at the fastest rate, in light of the surge in psychological issues like anxiety and depression brought on by various dermatological conditions. Growing interest of international players in the region along with the improving quality of the healthcare infrastructure in the region also stimulates substantial market growth.
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The global market for light therapy has many growth factors supporting it. But analysts also warn companies to be cautious about the latest market trends covered in the report. The factors which could affect the global light therapy market are also analyzed and are presented in the report. In order to carry out the research, analysts have deeply studied the market and have gathered data from primary and secondary sources. The sources include key homecare health industry stakeholders, policy makers, large corporations, manufacturers, vendors, suppliers, investors, and key decision makers. The data is further analyzed and is presented to derive conclusions about the factors that could support the growth of the light therapy market or negatively affect market growth.
LiteCure, the industry leader in therapeutic laser technologies is being acquired by DJO, LLC, a major multinational supplier of medical technology. This purchase adds to the power of DJO as a leader in public health research and gives the organization a special potential to bring groundbreaking solutions to its clients and patients.
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