Light Therapy Market is Projected to Witness Exponential Growth by 2027
According to research conducted by the University of Arizona Health Sciences; people diagnosed with migraine can be treated with green light therapy. This research has shown that green light reduces the intensity and frequency of headaches. The number of monthly headache days is reduced by an average of over 60%. This has significantly improved the life quality of patients without getting any side effects.
Benefits like these are increasing the demand for light therapy across the world. In fact, a research report by Global Market Insights Inc. states that the light therapy market revenue was valued at nearly USD 1 billion in 2020 and is anticipated to exhibit a growth rate of over 5.1% through 2027.
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Rising incidences of sleep disorder and winter blues
Growing number of patients diagnosed with sleep disorders like insomnia is the primary factor responsible for the proliferation of light therapy market. People residing in locations with dark winters are likely to be diagnosed with seasonal affective disorder owing to daylight deprivation. This causes depression, anxiety and insomnia which has increased the demand for non-invasive treatments like light therapies.
Incidences like these have propelled the demand for dawn simulators that regulates the intensity of light and this proves beneficial for sleep-deprived people. This helps people getting appropriate sleep and deal better with seasonal changes. Owing to such benefits, the segment captured over 10% of light therapy market share in 2020.
Based on the application, the winter blues segment is anticipated to showcase a CAGR of over 5.1% throughout the forecasted timeframe. Winter blues is a disorder that is mainly observed in Nordic countries and locations in the northern latitude. Light therapy helps in suppressing the rising melatonin that is generally observed on darker days. Such factors primarily contribute to the industry growth.
Growing usage of white light to treat mental illness
In case of light type, the market is fragmented into blue light, red light, white light and others. The white light segment held the largest revenue share of around USD 460 million in 2020. There has been a significant rise in the usage of light therapies for treating mental illnesses like depression. White light lets patients improve their concentration, fight anxiety and boost their morale. These aforementioned factors will stimulate the insistence for white light therapy over the projected timeframe.
Soaring preference for homecare settings
The end use segment is subjugated by the homecare settings, which held a market share of around 60% in 2020 and is projected to proliferate at a blistering pace through 2027. Increased usage of light therapy devices in home settings will propel the market growth. In addition, increased demand for homecare devices has further boosted the demand for light therapy market.
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Growing beauty-conscious population
The Asia Pacific light therapy market is predicted to grow at a CAGR of over 5.7% over the projected timeframe. Growing geriatric population has increased the demand for skin rejuvenation treatments. In addition, there has been a substantial rise in the number of patients diagnosed with skin disorders. The increasing influence of social media coupled with rising disposable income has boosted the demand for light therapy.
Developing nations are also experiencing huge demands for these devices owing to their low cost and advanced features. Such a low-cost and non-invasive skin treatment method has boosted the proliferation of the market in the Asia Pacific region.
Key players: Aura Daylight, Beurer, Biophotas, Carex, The Daavlin Company, Koniklijke Philips, Lucimed, Lumie, Northern Light Technologies, Medisana GmBH, Neutrgena (Johnson & Johnson), Verilux, Zepter International
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