Latest News- Light Therapy Market: Commercial is expected to lead the End-user segment during 2024-2028

The Light Therapy Market is being driven by Growing prevalence of SAD

The Light Therapy Market is expected to grow at a CAGR of 4.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 236.1 million. In the dynamic Light Therapy Market, vendors are strategically investing in research and development (R&D), collaborations, acquisitions, and regulatory approvals to expand their product offerings and cater to evolving consumer needs. Notably, BioPhotas, Inc.'s recent launch of the FDA-cleared over-the-counter (OTC) LED light therapy device, Celluma RESTORE, for treating aging skin, hair loss, and general pain conditions, exemplifies this market trend. Furthermore, the market is witnessing a surge in inorganic growth strategies, such as acquisitions and partnerships, to strengthen their market presence and broaden their product portfolios. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Commercial
  • Domestic
  • Healthcare
• Type
  • Blue light
  • Red light
  • White light
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing prevalence of SAD
• Growing prevalence of skin disorders
• Availability of compatible products

However, the market also witnesses some limitations, which are as follows:

• Complications related to standardization and quality control
• Increased risk of side effects from light therapy
• Low demand for light therapy products

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Market Scope in Light Therapy Market Research Report

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Research Analysis Overview

The Light Therapy Market encompasses a range of devices designed to treat various health conditions, including sleeping disorders, skin diseases, and mental health conditions, using light as a therapeutic agent. The market caters to individuals suffering from conditions such as insomnia, jet lag, eye fatigue, and psychological disorders like clinical depression, seasonal affective disorder, and the winter blues. Light therapy is effective in treating sleeping disorders like insomnia by regulating circadian rhythms and melatonin hormones. It is also used to manage skin-related diseases such as eczema, psoriasis, and vitiligo. Light therapy devices include light visors, lightboxes, and dawn simulators, which use different wavelengths of light to treat specific conditions. The market also includes light therapy devices that use microcurrents and ultrasonic waves for added therapeutic benefits. Dosage regulation, wireless communication, portability, and dosage regulation are essential features of modern light therapy devices. Factors driving the growth of the market include the increasing prevalence of sleeping disorders, skin diseases, and mental health conditions, as well as the convenience and effectiveness of light therapy devices. Psychological, environmental, biological, genetic, and seasonal factors contribute to the prevalence of these conditions. The light visor segment is a significant contributor to the market's growth due to its portability and ease of use. The market is expected to continue growing as research on the benefits of light therapy expands and more people seek non-pharmacological treatment options.

Market Research Overview

In accordance with Technavio's market research, the light therapy market under consideration is a significant segment of the expansive global healthcare equipment industry. This industry encompasses organizations involved in the research and development (R&D) of various product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are utilized for the diagnosis, monitoring, and treatment of various diseases. The global healthcare equipment market size is determined by the consolidated revenue generated by manufacturers of diagnostic equipment and devices spanning diverse therapy areas. The healthcare equipment sector is segmented into Devices, which incorporates advanced, differentiated, and clinically validated data-driven devices.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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