by The global Light Therapy Market is estimated to be valued at US$ 989.2 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
3D bioprinting has emerged as the fastest growing segment within the light therapy market. 3D bioprinting uses light sources such as lasers or digital light processing to print 3D structures containing living cells. This allows recreating complex living tissue for developing artificial skin grafts and organ transplants. The advantages of 3D bioprinting over traditional therapy include customization, lower cost, and reduced wait times for patients needing organ transplants.
Market Overview:
Light therapy involves exposure to beams of light to treat various medical conditionas such as skin diseases, neurological disorders, and sleep problems. It targets light-sensitive cellular compounds called chromophores present in tissues. Common light therapy applications include treatment of seasonal affective disorder, acne, psoriasis, jaundice in newborns, and circadian rhythm disorders.
Market key trends:
The key trends in the Global Light Therapy Market include increasing adoption of home-based light therapy devices, technological advancements in light therapy systems, and growing applications in pain management and aesthetic procedures. Home-based devices offer convenience and are more cost-effective compared to clinic-based treatments. New devices are integrated with advanced features such as adjustable light wavelengths and intensities. Meanwhile, light therapy is gaining traction in reducing inflammation and pain in conditions like arthritis. Additionally, it is increasingly being used with micro-needling and laser therapies to improve skin tone and texture. However, lack of clinical evidence continues to hamper the market growth to some extent.
Segment Analysis
The global light therapy market is segmented on the basis of product, application, end-use and geography. Based on product, the light therapy market is segmented into light box, desktop/handheld light therapy devices, dawn simulator and light visor. The light box segment dominated the market with a share of over 35% in 2022. This is due to increasing adoption of light boxes for treating various medical conditions like seasonal affective disorder (SAD) and baby jaundice.
Key Takeaways
The global light therapy market is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing prevalence of mental health conditions like depression and SAD. Regional analysis North America dominated the global light therapy market with a share of over 40% in 2022 owing to rising number of patients suffering from mental health disorders and increasing awareness regarding light therapy. Asia Pacific is expected to grow at the fastest rate during the forecast period owing to growing geriatric population, improving healthcare infrastructure and increasing disposable income.
Key players operating in the light therapy market are Koninklijke Philips N.V., Verilux, Inc., Northern Light Technology, TheraLight, LLC, Zepter International, Photomedex Inc., Beurer GmbH, Nature Bright, Lucimed SA, PhotonMD, Inc., BioPhotas, Chal-Tec GmbH, Johnson & Johnson, and Carex Health Brands Inc. Koninklijke Philips N.V. is the leader in light therapy market with wide range of products like light therapy lamps and light visors.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
