Market Research Future (MRFR) has published a cooked research report on the “global light therapy market” that contains the information from 2022 to 2030. The light therapy market is projected to register a CAGR of 5.10% during the forecast period of 2022 to 2030.
Light Therapy Market Highlights
The Global Light Therapy market is accounted to register a CAGR of 5.10% during the forecast period and is estimated to reach USD 1.19 billion by 2030.
The light therapy market refers to the industry involved in the manufacturing and distribution of devices that use specific wavelengths of light to treat various conditions, such as seasonal affective disorder, skin disorders, and sleep disorders. It is a growing sector focused on providing non-invasive, drug-free treatment options for a range of health issues.
Segment Analysis
The global Light Therapy market has been segmented based on Product Type and Operating Platforms.
On the basis of Product Type, the market is segmented into Blue Light, Red Light, White Light, Others. The blue light market is believed to be the largest of these due to the increased usage of blue light for the treatment of skin cancer and sun damage. White light is also useful since it lessens SAD and depression-related symptoms, which encourages the growth of the global light therapy sector.
Based on Operating Platforms, the global Light Therapy market has been segmented into Homecare Settings, Dermatology Clinics, Other. The dermatology clinics industry is one of those that is boosting the global market due to the increased prevalence of dermatological issues. On the other hand, because the equipment is affordable and straightforward to use, the home care settings sector is encouraging the expansion of the light therapy industry.
Regional Analysis
The global Light Therapy market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Light Therapy market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Light Therapy market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Light Therapy market comprises of Middle East, Africa, and Latin America.
The North America Light Therapy Market dominated this market in 2022. The phototherapy equipment market was dominated by North America in 2021 with a revenue share of 43.20%. The region is anticipated to lead the phototherapy equipment market due to the increased prevalence of various skin disorders like vitiligo, psoriasis, eczema, and acne.
During the forecast period, the Asia-Pacific region is expected to experience the fastest growth rate, at 5.55%. The rapid growth rate can be blamed for an increase in preterm births and a rise in the number of people with skin conditions. For instance, according to The Lancet, 80% of late preterm births take place in Asia and South Asia, accounting for around 85% of all preterm births. Furthermore, 1/5th of the 15 million pre-term births worldwide, according to Narayan Health Organisation, occur in India.
Moreover, the growth of the Europe light therapy market is primarily driven by an increase in skin disorders, patients suffering from depression, an increase in the prevalence of seasonal affective depression, and mood conditions. Additionally, the Germany market for light therapy held the largest market share, and the UK market for light therapy was the region's fastest growing market.
Explore In-depth Market Details [Table of Content, List of Figures, List of Tables] of Light Therapy Market Research Report
Key Findings of the Study
- The global Light Therapy market is expected to reach USD 1.19 billion by 2030, at a CAGR of 5.10% during the forecast period.
- The North America Light Therapy Market dominated this market in 2022. The phototherapy equipment market was dominated by North America in 2021 with a revenue share of 43.20%.
- Based on Operating Platforms, the dermatology clinics industry is one of those that is boosting the global market due to the increased prevalence of dermatological issues.
- Beurer (Germany), Northern Light Technology (Canada), BioPhotas (US), Chal-Tec GmbH (Germany), Koninklijke Philips (Netherlands), Lucimed SA (Belgium), Lumie (UK), Verilux (US), Nature Bright (Taiwan), and Zepter International (Switzerland).
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Companies Covered | 15 |
Pages | 111 |
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