SEATTLE, Nov. 15, 2021 /PRNewswire/ -- According to Coherent Market Insights, The global light therapy market is estimated to account for 1,287.4 Mn in terms of value by the end of 2028.
Many individuals are starting to recognize the potential benefits of light therapy as an alternative form of medicine and are seeking ways to incorporate it into their health care routine. For many years, light therapy was only used in the medical profession to treat eye disorders. However, in the past decade, many other ailments including fibromyalgia, chronic fatigue syndrome, fibromyalgia, Raynaud's phenomenon, migraine headaches, multiple sclerosis, Parkinson's disease, and multiple sclerosis have been treated by light therapy. Light therapy has also been proven to have significant benefits in the area of treating the seasonal affective disorder. The first studies of phototherapy were designed to test the effects that low-level laser therapy could have on reducing symptoms of depression.
1. Technological advancements in light therapy are expected to drive growth of the global light therapy market during the forecast period.
Over the years, light therapy is improved significantly with continuous research and development activities among key companies. With typical application to treat the seasonal affective disorder, light therapy has become more and more advanced in the recent past. For instance, in August 2021, Solbasium launched the first red light therapy roller named Quantum Roller with 256 powerful LEDs across the body and three-speed vibration intensity. This device is specifically designed to treat muscle pain, enhance physical recovery, etc.
2. Growing preference of patients toward non-invasive procedures is expected to propel the global light therapy market growth over the forecast period.
In recent times, more and more patients are shifting their preference towards non-invasive procedures for the treatment of different diseases. Minimally invasive or non-invasive procedures enable surgeons to use techniques that limit the size and number of cuts or incisions they need to make. Generally, it is safer than conventional open surgery as it provides faster recovery and less time in the hospital. Light therapy is a non-invasive procedure used for cancer, acne vulgaris, wound healing, skin conditions, psoriasis, vitiligo, and seasonal affective disorder.
1. Increasing prevalence of dermatological disorders such as psoriasis and acne vulgaris can provide prominent business opportunities
According to the National Psoriasis Foundation, in 2020, there around 8 million people with psoriasis across the U.S. Furthermore, according to the World Psoriasis Day consortium, around 125 million people across the globe have psoriasis. Such massive prevalence of psoriasis has increased the adoption of effective treatment options, including light therapy. Key companies in the market can capitalize on these opportunities by providing novel solutions.
2. Growing incidence of psychological conditions including depression and anxiety can present significant growth opportunities
According to the Anxiety and Depression Association of America (ADAA), around 40 million adults in the U.S. aged 18 years and above get affected with anxiety. Furthermore, according to the World Health Organization (WHO), over 264 million people of all ages across the globe suffer from depression. Light therapy is widely used in the treatment of depression and anxiety, which can provide lucrative growth opportunities for market players.
Dermatology clinics are the most prominent end users of light therapy devices. With growing awareness regarding skin disease and increasing preference for non-invasive treatment for skin disorders and procedures, the demand for light therapy across dermatology clinics has increased massively in the recent past. Light therapy is typically used for the treatment of acne, collagen production, inflammation reduction, etc.
2. High adoption of blue light therapy
There are different colors and types of light therapies used for the treatment of various disorders. However, blue light therapy has gained significant traction over the years. Generally, blue light therapy is used in the treatment of sun damage, premalignant or malignant skin cancer, acne, and more.
Key companies involved in the global light therapy market are Beurer, Koninklijke Philips, Aura Daylight, Biophotas, Lucimed, Zepter International, Verilux, and Northern Light Technologies.
Major companies are focused on product launches, in order to enhance the market presence. For instance, in October 2021, Lifepro launched the Red Light Therapy line including state-of-the-art massage guns, vibration plates, home workout equipment, and massagers designed for anti-aging, fat loss, detoxification, and muscle inflammation.
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.