Global Light Therapy Market Analysis 2024 – Estimated Market Size And Key Drivers

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The Light Therapy Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Light Therapy Global Market Report 2024, The light therapy market size has grown strongly in recent years. It will grow from $1.18 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to medical research advancements, clinical validation, healthcare acceptance, consumer awareness, market adoption.

The light therapy market size is expected to see strong growth in the next few years. It will grow to $1.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to personalization and customization, mental health awareness, telehealth and remote care, regulatory support. Major trends in the forecast period include expanded clinical applications, home-use devices, research and development, professional endorsement, accessibility and awareness.

The increasing prevalence of skin diseases is expected to propel the growth of the light therapy market going forward. Skin diseases refer to a wide spectrum of ailments that affect the skin and can be brought on by bacterial, viral, fungal, allergy, and parasitic infections, as well as by the skin itself. Light therapy uses light waves to treat certain skin conditions such as psoriasis, eczema, mycosis, vitiligo, and others by exposing skin to an ultraviolet (UV) light for a set amount of time in combination with a medication that stimulates the skin’s immunity and helps in skin treating conditions in a natural way and reduces the cell development and inflammation that lead to skin disorders. For instance, according to the Centers for disease control (CDC) report in March 2023, a US-based federal agency of health, the incidence of Candida auris (C. auris) cases increased from 476 in 2019 to 1,471 in 2021 in the US. Additionally, in December 2022, according to the National Psoriasis Foundation, a US-based nonprofit organization serving people with psoriasis and psoriatic arthritis, Psoriasis affects 125 million people globally, accounting for 2 to 3 percent of the overall population, where it affects approximately 1.5 percent of African Americans compared to 3.6 percent of Caucasians. Therefore, the increased prevalence of skin diseases is driving the growth of the light therapy market.

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The light therapy market covered in this report is segmented –

1) By Product: Light Box, Floor And Desk Lamps, Handheld Devices For Skin Treatment, Light Visor, Dawn Simulator, Light Therapy Lamps, Other Products

2) By Light Type: White Light, Blue Light, Red Light, Other Light Types

3) By Application: Psoriasis, Vitiligo, Eczema, Acne Vulgaris, SAD/Winter Blues, Sleeping Disorders, Other Applications

4) By End User: Homecare Setting, Hospital, Dermatology Clinics, Other End Users

Technological advancements are a key trend gaining popularity in the light therapy market. Major market players are concentrating their efforts on advanced technologies to sustain their position in the market. For instance, in June 2022, LightStim, a US -based manufacturer of LED-based devices, launched Elipsa, a next-generation HydraFacial system for wrinkles, pain, and acne. Elipsa is the first LightStim device that provides dual treatment modes for wrinkles and acne, allowing for the most effective and result-driven treatment that uses LightStim MultiWave patented technology and medical-grade LEDs to give a calming and relaxing experience that promotes real benefits. It is designed and manufactured with more than double the more of LEDs that are wirelessly linked to the HydraFacial Syndeo for delivering treatment analytics to better meet the needs of the customer.

The light therapy market report table of contents includes: