Global Light Therapy Market 2021 – Growth statistics, top trends, covid-19 impact and forecast 2027

Light therapy, also known as phototherapy, uses daylight or some equivalent form of light to treat a wide range of mental illnesses and skin disorders. A rising number of patients suffering from depression and skin disorders will predominantly drive the light therapy market growth.

As per the World Health Organization, there are nearly 264 million people of all ages across the globe who are suffering from depression. The advent of these novel therapies immensely helps patients to get recovered from various kinds of mental issues.

Global light therapy market size was estimated over US$1 billion in 2020 and is projected to grow at 5.1% CAGR in the upcoming years, as per a report published by the Global Market Insights, Inc. Described below are some key factors driving industry trends.

Growing applications in cosmetic conditions

The availability of light therapy at a low cost as compared with laser surgery and growing awareness among people about their aesthetic appearance will escalate its demand in the forthcoming years. Light treatment is used to nurse cosmetic conditions like deep wrinkles, acne, vitiligo, and skin diseases such as eczema, psoriasis, and precancerous skin lesions.

Escalating demand for non-invasive procedures and rising preferences of consumers for light treatment will complement the industry landscape to a large extent.

High prevalence of depression and sleep disorders

The growing prevalence of depression and sleep-related disorders across the globe has created tremendous demand for light therapy market. As per the National Alliance on Mental Health, about 1 in 20 adults in the U.S. were found suffering from mental illness in 2019. Whereas, suicide is considered the second leading cause of death among people aged between 10-34 years in the region.

Owing to various advantages of phototherapy, it has high preference to treat growing incidences of mental illness such as sleep disorder, seasonal affective disorder (SAD), anxiety, and depression.

To access sample pages of this report titled, “Light Therapy Market Size By Product (Light Box, Floor and Desk Lamp, Light Visor, Handheld Devices For Skin Treatment {HDST}, Dawn Simulator, Light Therapy Bulbs), By Application (Psoriasis, Vitiligo, Eczema, Acne Vulgaris, Winter Blues, Sleeping Disorders, Seasonal Affective Disorder {SAD}), By Light Type (Blue Light, Red Light, White Light), By End-use (Homecare Settings, Dermatology Clinics), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents, please click on the link below:

https://www.gminsights.com/request-sample/detail/740   

Robust demand for dawn simulators

The dawn simulator segment accounted for more than 10% light therapy market share of the light therapy industry in 2020 and is expected to grow at a notable pace in the coming years. This type of phototherapy is mainly utilized to treat seasonal affective disorders and sleep-related disorders. Drawn simulator gives relief to sleepers by exposing them to slowly increasing intensity of light before awakening.

This technique helps sleepers to overcome issues related to changing the intensity of light due to seasonal variation. On account of the high prevalence of sleep-related disorders, the usage of dawn simulator will increase significantly.

Availability of light therapies in homecare settings

The light therapy market for white light segment was estimated to hold the largest revenue share of nearly US$460 million in 2020. White light is broadly utilized in a wide array of light therapies and depression treatment globally. The utilization of white light in these therapies helps in dealing with irritability during seasonal affective disorder by improving concentration and boosting mood.

The homecare settings segment held the maximum market share of more than 60% in 2020 and is expected to witness substantial momentum in the forthcoming years. The growth trend is primarily attributed to the increasing demand for point of care therapies in residential applications. Rising inclination towards home-based therapies will fuel high usage of light therapy products and their consumption.

Rising number of beauty conscious people in APAC

Asia Pacific light therapy market is projected to expand at 5.7% CAGR in the upcoming years. The low cost and various advantages associated with the therapy is encouraging its high adoption rate in developed countries. Phototherapy is quite popular among people owing to its ability to stimulate cells, plump, whiten, and repair the skin. Growing patient pool, increased per capita income, the high influence of social media are some of the prime factors augmenting the regional industry growth.

Prominent companies in the global light therapy industry are developing advanced solutions for skin treatment. Based on various skin types, the manufacturers are designing customized solutions. With the presence of robust regulatory infrastructure regulating the quality of these therapies and product launches, the demand for such procedures will escalate in the coming years.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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