Light Therapy Market Growth Prospects, Key Vendors, Future Scenario Forecast to 2032
Global Light Therapy Market is set to expand significantly through 2032, primarily owing to the increasing preference towards non-invasive procedures that ensure better patient care and are less painful. Additionally, increasing demand for technologically advanced products such as portable handheld devices will also benefit the market progression during 2023-2032. For instance, in January 2021, research demonstrated that mobile devices have ensured better care for patients for over the past few years.
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In addition, the key market providers are expanding their portfolios and engaging in meaningful acquisitions and mergers to strengthen their position. Citing an instance, in December 2022, a leading supplier of light therapy solutions, Vellgus Red Light launched its latest red light therapy device that uses near-infrared and red light to reduce inflammation and enhance the healing of wounds.
Overall, the light therapy market has been segmented in terms of product, application, light, end-use, and region.
Based on the product, the dawn simulator segment is set to gain significant traction by 2032, owing to the rising cases of seasonal affective disorder and other types of depression. Research has proven that artificial dawn effects improve sleep inertia and cognitive performance among patients once they wake up.
On the basis of application, the light therapy market is likely to be characterized by the psoriasis segment which accounted for more than 20% market share in 2022 and is anticipated to grow substantially through 2032. The segmental expansion will be ascribed to the increasing cases of skin conditions worldwide.
As per the data from the World Psoriasis Day Consortium, approximately 125 million people across the world (representing 2-3% of the total population) are suffering from psoriasis. Light therapy thus emerges to be one of the most beneficial solutions, to treat psoriasis. According to estimates, light therapy can offer noticeable improvement in psoriasis symptoms in up to 90% patients.
In terms of end-use, the others segment, which comprises hospitals and specialty clinics will grow significantly through 2032. The increasing adoption of light therapy to treat newborns from skin conditions and jaundice is anticipated to drive the market demand.
In the regional context, the Asia Pacific light therapy market is expected to reach more than USD 400 million over the foreseeable time . The regional market growth can be accredited to the increasing funding by private and public organizations to generate awareness about light
therapy. Besides, strategic initiatives by major market players in this region would further add to the industry expansion in the coming years.
PartialTableofContents(ToC)ofthereport:
Chapter4 CompetitiveLandscape
4.1 Introduction
4.2 Competitive dashboard, 2021
4.3 Company market share, 2021
4.4 Competitive analysis of major market players
4.5 Competitive positioning matrix
4.6 Strategic outlook matrix
Chapter5 LightTherapyMarket,ByProduct
5.1 Key segment trends
5.2 Light box
5.2.1 Market estimates and forecast, 2018-2032 (USD Million)
5.3 Floor and desk lamp
5.3.1 Market estimates and forecast, 2018-2032 (USD Million)
5.4 Light visor
5.4.1 Market estimates and forecast, 2018-2032 (USD Million)
5.5 HSDT
5.5.1 Market estimates and forecast, 2018-2032 (USD Million)
5.6 Dawn simulator
5.6.1 Market estimates and forecast, 2018-2032 (USD Million)
5.7 Light therapy bulbs
5.7.1 Market estimates and forecast, 2018-2032 (USD Million)
5.8 Others
5.8.1 Market estimates and forecast, 2018-2032 (USD Million)
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