Light Therapy Market To Reach USD 1.8 Billion By 2032, Says DataHorizzon Research
A Comprehensive Analysis of the Light Therapy Market
Fort Collins, Colorado, Oct. 31, 2023 (GLOBE NEWSWIRE) — According to DataHorizzon Research, the Light Therapy Market was valued at USD 1.1 Billion in 2022 and is expected to reach USD 1.8 Billion by 2032 at a CAGR of 4.8%.
Light therapy, also called phototherapy, is a process where bright light is exposed on the skin to treat problems like seasonal affective disorder and depression and now is also being used in the beauty and skincare industry. The demand for this therapy is rising as people are looking for effective methods to treat issues like depression and seasonal affective disorder, and people in the beauty industry are demanding painless yet efficient methods for skin care.
According to Harvard Health, light therapy is a safe and effective way to help reduce and act as a good curing technique for depression and Seasonal Affective Disorder. This technique also helps reduce the dependence on medicines and shows results in just a week, thus making it a preferred option. So, this therapy is expected to be increasingly adopted for depression patients, and it is already being used at a large scale for Seasonal Affective Disorder patients.
According to the American Society of Plastic Surgeons, this technique is increasingly being adopted in the beauty and cosmetics industry. It is mainly used for skin treatment as it helps reduce fine lines and wrinkles, inflammation, and sun damage. The skin care sessions last up to 30 to 60 minutes and get the results quickly, lasting for about a month. With the growing beauty industry and the desire to look attractive and young, and have good skin, the demand for light therapy is expected to grow during the forecast period. Although light therapy is considered safe, some people have reported suffering from headaches and skin and eye irritation, lasting for some days. Also, according to the Light Therapy Organization, people with photosensitivity can face some side effects. Additionally, it is not recommended to anyone with skin cancer, sun allergy, or pregnant ladies.
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The global light therapy market has been segmented into light type, product, application, end-use, and region. North America holds a significant share in the light therapy market. The United States holds a substantial stake in this region, the reason being high depression rates in the world. Additionally, number of people suffering from Seasonal Affective Disorder is growing in the country, contributing to the growth of this market.
Europe also holds a significant share due to the rising cases of Seasonal Affective Disorder during winter. People have reported feeling depressed and alone, especially during winter, when locked in their homes. Light therapy is predominantly used during those periods to help people feel stable and prevent them from entering a state of depression.
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Light Therapy Market Report Highlights:
- The global light therapy market growth is anticipated at a CAGR of 4.8% by 2032.
- A primary reason leading to the growth of light therapy adoption in healthcare is the rising number of people getting affected by Seasonal Affective Disorder. According to ClevelandClinic.org, Seasonal Affective Disorder is a type of depression that people experience mainly during extreme winters.
- Based on the end-use, the market is segmented as commercial and residential.
- Based on the application, the light therapy market is segmented as Skin treatment, mood and sleep conditions, and others.
- Some prominent players in the light therapy market report include Zepter International, BioPhotas, iRed USA, Northern Light Technologies, Philips, Vital Red Light, Solawave, Omnilux, Orion, Infraredi, Joovv, and others.
Industry Trends and Insights:
- In September 2023, Therabody launched a hands-free, full-face light therapy mask called TheraFace Mask that will provide therapy in three lights. Red light indicates anti-aging needs, blue light for acne reduction, and red and infrared light for boosting collagen. Each of these lights runs for three minutes one following each other.
- The Korean Advanced Institute of Science and Technology and Asan Medical Center developed the world’s first organic light-emitting diode-based catheter for light therapy/phototherapy of internal organs in September 2023. This device can be entered into tubular organs and then can be operated, and they have observed in their experiments that this can help in the reduction of blood sugar levels, liver fibrosis, and other developments.
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Light Therapy Market Segmentation:
- By Light: White light, blue light, red light, others.
- By Product: Light box, floor and desk lamps, handheld devices, light visor, others.
- By Application: Skin treatment, mood, and sleep conditions, others.
- By End-use: Commercial, residential.
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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