Light Therapy Market Size to Cross USD 1.52 Billion by 2033

The global light therapy market size is estimated to rake around USD 1.52 billion by 2033 from USD 1.06 billion in 2023 with a CAGR of 3.67% from 2024 to 2033.

Key Points

  • North America has accounted highest revenue share of around 37% in 2023
  • Asia Pacific is projected to experience the fastest growth during the forecast period.
  • By product, the handheld devices segment has accounted revenue share of 26.8% in 2023.
  • By-product, the light visor segment is anticipated to grow at a rate during the forecast period.
  • By application, the sleeping disorder segment has captured revenue share of around 23.5% in 2023.
  • By application, the SAD/winter blues segment is projected to experience the highest growth rate during the forecast period.
  • By light type, the blue light segment has held revenue share of around 43% in 2023.
  • By end-use, the home healthcare segment held the largest market share of around 55% in 2023.
  • By end-use, the dermatology clinics segment is expected to experience the rapid growth rate during the forecast period.

Light Therapy Market Size 2024 to 2033

The Light Therapy market has witnessed significant growth in recent years, driven by the increasing awareness and acceptance of alternative and non-invasive therapeutic approaches. Light therapy, also known as phototherapy, involves exposure to specific wavelengths of light to treat various medical conditions and promote overall well-being. The market encompasses a diverse range of applications, including skin disorders, mood disorders, sleep-related issues, and chronic pain management. The rising prevalence of these health concerns, coupled with the growing preference for non-pharmacological treatments, has fueled the demand for light therapy devices and services.

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Growth Factors

Several factors contribute to the robust growth of the Light Therapy market. First and foremost, the escalating incidence of skin disorders such as psoriasis, eczema, and acne has led to an increased adoption of light therapy as an effective treatment option. Additionally, the awareness of the psychological benefits of light exposure in managing mood disorders like depression and seasonal affective disorder (SAD) has bolstered market growth. Technological advancements in light therapy devices, making them more user-friendly and efficient, further contribute to market expansion. The ongoing research and development activities focusing on discovering new therapeutic applications of light therapy are also key growth factors.

Region Insights

The Light Therapy market exhibits a global presence, with various regions contributing to its expansion. North America, particularly the United States, holds a dominant position in the market, driven by the high prevalence of skin and mood disorders and the strong presence of key market players. Europe follows suit, with countries like Germany and the United Kingdom witnessing an upsurge in the adoption of light therapy for both medical and wellness purposes. Asia-Pacific emerges as a lucrative region, propelled by the increasing awareness of holistic healthcare approaches and a rising incidence of lifestyle-related disorders. Latin America and the Middle East also show promising growth opportunities as awareness and acceptance of light therapy continue to rise.

Light Therapy Market Scope

Report Coverage Details
Global Market Size in 2023 USD 1.06 Billion
Global Market Size by 2033 USD 1.52 Billion
U.S. Market Size in 2023 USD 290 Million
U.S. Market Size by 2033 USD 420 Million
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Product, By Application, By Light Type, and By End User
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Light Therapy Market Dynamics

Drivers:

Several drivers propel the Light Therapy market forward. The increasing preference for non-pharmacological treatments, especially among individuals seeking alternatives to traditional medications, acts as a significant driver. The rising awareness of the potential benefits of light therapy, coupled with its non-invasive nature and minimal side effects, encourages its adoption across diverse demographics. Moreover, the surge in research activities exploring new therapeutic applications and the development of innovative light therapy devices drive market growth. Supportive government initiatives, reimbursement policies, and collaborations between healthcare organizations and technology companies further boost the market.

Restraints:

Despite the positive trajectory, the Light Therapy market faces certain restraints that hinder its full potential. Affordability and accessibility issues in some regions limit the widespread adoption of light therapy, especially in developing countries. The lack of standardized guidelines and regulations for the use of light therapy in certain medical conditions poses a challenge, leading to variations in practice and potential misuse. Additionally, concerns regarding the long-term safety and efficacy of light therapy for certain conditions may act as a restraint, particularly among healthcare professionals and patients cautious about adopting relatively novel treatment modalities.

Opportunities

The Light Therapy market presents several opportunities for growth and innovation. The expanding applications of light therapy beyond dermatology and psychiatry, including its potential in pain management and sleep disorders, open up new avenues. Strategic partnerships between healthcare providers, technology developers, and research institutions can facilitate the development of advanced light therapy solutions. The increasing integration of light therapy into wellness and spa industries creates a novel market segment. Moreover, the untapped potential in emerging markets, along with the development of cost-effective and portable light therapy devices, provides significant opportunities for market expansion.

Read Also: Sleep Tech Devices Market Size to Cross USD 113.16 Bn by 2033

Recent Developments

  • In January 2024, LumiThera initiated a European registry study investigating light therapy for age-related macular degeneration (AMD). This study follows a set of clinical trials known as the LIGHT SIDE studies, demonstrating that the treatment was well-tolerated by patients with dry AMD.
  • In February 2022, STRATA Skin Sciences, Inc. launched its new excimer laser system, XTRAC Momentum 1.0, designed for precise UVB light therapy in treating inflammatory skin conditions like psoriasis, atopic dermatitis, and vitiligo.
  • In January 2022, Bilihome secured funding from Health Innovations and Oost NL to launch an innovative, wearable light therapy device for jaundice affecting 10% of newborns.
  • In February 2022, UFC Performance Institute and GameDay Ready Recovery Zone joined forces to offer red light therapy to all UFC athletes. This partnership aims to improve athlete performance as red light therapy facilitates the body’s recovery at a cellular level.

Light Therapy Market Companies

  • Koninklijke Philips N.V.
  • Beurer GmbH
  • BioPhotas.
  • Northern Light Technologies
  • Lumie
  • Verilux, Inc
  • Zepter International
  • The Daylight Company
  • Zerigo Health
  • Naturebright

Segments Covered in the Report

By Product

  • Light Box
  • Floor and Desk Lamps
  • Handheld Devices
  • Light Visor
  • Dawn Simulator
  • Light Therapy Lamps

By Application

  • Psoriasis
  • Vitiligo
  • Eczema
  • Acne Vulgaris
  • SAD/Winter Blues
  • Sleeping Disorders

By Light Type

  • Blue Light
  • Red Light
  • White Light

By End User

  • Dermatology Clinics
  • Home Healthcare

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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