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Light therapy, also known as phototherapy, involves exposure to a specific wavelength of light in either ultraviolet, visible, or infrared regions of the electromagnetic spectrum for the treatment of several dermatological conditions. Light therapy finds applications in treatment of conditions like psoriasis, seasonal affective disorder (SAD), acne, and skin rejuvenation. It is used to treat various diseases by inhibiting certain biochemical processes or stimulating advantageous changes in cellular function and gene expression. The light sources used in therapy include light-emitting diodes (LEDs), fluorescent lamps, and lasers or intense pulsed light devices that emit radiation in desired wavelengths.
The global light therapy market is estimated to be valued at US$ 989.2 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Rising adoption of light therapy boxes and light visors in dermatology clinics is driving the market growth. Dermatology clinics are increasingly using light therapy as it is safe, noninvasive, and has minimal side effects for treating numerous skin conditions.
Market Dynamics:
One of the major drivers for the light therapy market is rising adoption in dermatology clinics. Dermatology clinics provide light therapy as a treatment option for various skin conditions like acne, psoriasis, eczema, and skin rejuvenation. It provides relief for patients without any side effects of oral medications. Light therapy is also preferred over topical creams and ointments as it treats the condition from inside by stimulating biochemical changes in the skin.
Segment Analysis
The global light therapy market is segmented into light box therapies, desktop/tabletop light therapies, and light visor therapies. The light box therapies segment currently dominates the market owing to its widespread use for seasonal affective disorder (SAD) treatment. Light boxes provide full spectrum lighting that can positively impact mood, sleep, and energy levels for people experiencing SAD.
PEST Analysis
Political: No major political factors impact the light therapy market currently. Some regulations may be present regarding light intensity safety standards for medical devices.
Economic: The global economy favors continued growth in the healthcare sector and adoption of non-drug therapies. Increased spending power in emerging nations expands opportunities.
Social: Growing awareness of mental health issues leads more patients to seek non-drug solutions like light therapy. Social acceptance reduces stigma around conditions treated.
Technological: Advances improve user convenience through smaller, more portable devices. Linkage to mobile apps allows remote consultation and monitoring. New light sources may expand applications.
Key Takeaways
The global light therapy market is expected to witness high growth over the forecast period driven by rising awareness of benefits for conditions like SAD and non-seasonal depression. The global light therapy market is estimated to be valued at US$ 989.2 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
Regional analysis comprises:
The North America region holds the largest share of the global light therapy market and is expected to maintain dominance over the forecast period. This can be attributed to high prevalence of SAD andwinter seasonal affective disorder in countries with prolonged winters like Canada and the United States.
Key players related content comprises:
Key players operating in the light therapy market are Koninklijke Philips N.V., Verilux, Inc., Northern Light Technology, TheraLight, LLC, Zepter International, Photomedex Inc., Beurer GmbH, Nature Bright, Lucimed SA, PhotonMD, Inc., BioPhotas, Chal-Tec GmbH, Johnson & Johnson, and Carex Health Brands Inc. Philips and Verilux have established themselves as pioneers in the field with a wide range of professional grade devices and accessories for home or clinical use.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
