Overview and Scope
Light therapy, commonly known as phototherapy, is a non-invasive medical treatment that treats various skin diseases by using different wavelengths of light for a set period of time to specific wavelengths of light to stimulate cellular activity and improve healing. It is used in treating autoimmune diseases, bacterial infections and fungal infections on the skin, psychiatric conditions, retinal diseases, and tumors.
Sizing and Forecast
The light therapy market size has grown strongly in recent years. It will grow from $1.18 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to medical research advancements, clinical validation, healthcare acceptance, consumer awareness, market adoption.
The light therapy market size is expected to see strong growth in the next few years. It will grow to $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to personalization and customization, mental health awareness, telehealth and remote care, regulatory support. Major trends in the forecast period include expanded clinical applications, home-use devices, research and development, professional endorsement, accessibility and awareness.
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Segmentation & Regional Insights
The light therapy market covered in this report is segmented –
1) By Product: Light Box, Floor And Desk Lamps, Handheld Devices For Skin Treatment, Light Visor, Dawn Simulator, Light Therapy Lamps, Other Products
2) By Light Type: White Light, Blue Light, Red Light, Other Light Types
3) By Application: Psoriasis, Vitiligo, Eczema, Acne Vulgaris, SAD/Winter Blues, Sleeping Disorders, Other Applications
4) By End User: Homecare Setting, Hospital, Dermatology Clinics, Other End Users
North America was the largest region in the light therapy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global light therapy market report during the forecast period. The regions covered in the light therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing prevalence of skin diseases is expected to propel the growth of the light therapy market going forward. Skin diseases refer to a wide spectrum of ailments that affect the skin and can be brought on by bacterial, viral, fungal, allergy, and parasitic infections, as well as by the skin itself. Light therapy uses light waves to treat certain skin conditions such as psoriasis, eczema, mycosis, vitiligo, and others by exposing skin to an ultraviolet (UV) light for a set amount of time in combination with a medication that stimulates the skin’s immunity and helps in skin treating conditions in a natural way and reduces the cell development and inflammation that lead to skin disorders. For instance, according to the Centers for disease control (CDC) report in March 2023, a US-based federal agency of health, the incidence of Candida auris (C. auris) cases increased from 476 in 2019 to 1,471 in 2021 in the US. Additionally, in December 2022, according to the National Psoriasis Foundation, a US-based nonprofit organization serving people with psoriasis and psoriatic arthritis, Psoriasis affects 125 million people globally, accounting for 2 to 3 percent of the overall population, where it affects approximately 1.5 percent of African Americans compared to 3.6 percent of Caucasians. Therefore, the increased prevalence of skin diseases is driving the growth of the light therapy market.
Key Industry Players
Major companies operating in the light therapy market report are Verilux Inc., Koninklijke Philips NV, Zepter International Switzerland AG, Beurer GmbH, Nature Bright Co., Lucimed SA, Aura Daylight LLC, Northern Lights Inc., PhotoMedex Inc., Sphere Gadget Technologies, Compass Health Brands, TheraLight LLC, BioPhotas Inc., The Daylight Company, Zerigo Health, Northern Light Technology, Chal-Tec GmbH, Novartis International AG, Centre for Process Innovation Ltd., Nanoscope Therapeutics Inc., Soligenix Inc., Vicentra BV, Odin Medical Ltd., Lumeda Inc., Ray Therapeutics Inc., InGel Therapeutics Inc., NeoLight LLC, Berkeley Lights Inc., GelMEDIX Inc., Johnson and Johnson Services Inc., Lumos Products Ltd., Carex Health Brands Inc., Revian Inc.
The light therapy market report table of contents includes:
1. Executive Summary
2. Light Therapy Market Characteristics
3. Light Therapy Market Trends And Strategies
4. Light Therapy Market – Macro Economic Scenario
5. Global Light Therapy Market Size and Growth
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31. Global Light Therapy Market Competitive Benchmarking
32. Global Light Therapy Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Light Therapy Market
34. Light Therapy Market Future Outlook and Potential Analysis
35. Appendix
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