The net worth of the light therapy market share is expected to increase from US$ 1.0 billion in 2023 to more than US$ 1.8 billion by 2033. The market for light therapy is expected to grow at a 5.7% CAGR from 2023 to 2033, as demand grows due to major depressive disorders, seasonal affective disorder (SAD), and various skin-related diseases. It is predicted that the global burden of depression will double by 2030. As a result, significant growth opportunities await prominent light therapy providers.
The global light therapy market is expected to grow significantly as a result of the rise in skin disorders, depression, seasonal affective disorder, and mood disorders. Furthermore, the increased desire to look beautiful causes the female population to adopt light therapies more frequently. Thus, this factor is anticipated to fuel the growth of the personal care therapy market.
As per FMI’s report, growth prospects are likely to emerge across skin and insomnia treatment domains as well. With at least one to three out of ten people experiencing disrupted sleep cycles, patients are seeking effective therapeutic approaches, thereby widening growth prospects. Furthermore, skin ailments contribute to almost 2% of the global burden of disorders.
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Manufacturers are primarily emphasizing on introducing portable and lightweight handheld light therapy devices amid the rising demand for flexible therapeutic solutions. For instance, the LightStim For Wrinkles is an award-winning FDA-cleared red light therapy device for skincare, deploying a patented multi-wave technology based on advanced LED technology from NASA. Likewise, the iRestore Laser Hair Growth System for treating androgenic alopecia deploys a 650 mm wavelength red light which is clinically proven to enhance hair growth.
Key Takeaways from FMI’s Light Therapy Market Study
- By product, handheld light therapy devices for skin treatment are likely to enjoy highest demand
- By light type, demand for red light therapy is expected to reach new heights, characterized by increasing numbers of clinical trials
- By end-user, dermatological centers are expected to be primary light therapy treatment centers in forthcoming years
- High seasonal affective disorder (SAD) incidence fueling light therapy treatment in the US
- UK to attract high investments, characterized by the presence of prominent phototherapy light manufacturers
- Germany to generate lucrative growth prospects amid extensive applications across the photodynamic treatment (PDT) segment
- Surging dermatological problems to widen natural treatment approaches scope in India, widening prospects for light therapy
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Competitive Landscape
- Koninklijke Philips N.V.
- Verilux Inc.
- Northern Light Technology
- Sphere Gadget Technologies
- Zepter International
- PhotoMedex Inc.
- Luminette
- Klarstein
- Lumie
- Aura Daylight
are some prominent light therapy market players profiled by FMI’s report on the landscape.
Offering new products based on the latest technology is the primary strategy deployed by a majority of the aforementioned market players. For instance, Klarstein offers its 3MC light therapy sunlight SAD disorder lamp for medical purposes. This product is especially suitable for treating for treating seasonal affective disorder by deploying a mid-day simulating spectrum.
In September 2019, Lumie launched the Bodyclock Luxe 700FM and Bodyclock Luxe 750DAB wake up lights. These are class-I medical devices which offer high quality light and audio experience for easier sleep and brighter waking. These clocks are tuned to reflect day time patterns which helps regulate sleep to improve mood, energy, productivity and sleep quality.
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Light Therapy Market by Category
By Product
- Light Box
- Floor and Desk Lamps
- Light Visor
- Dawn Simulator
- Light Therapy Bulbs
By Light Type
- White Light
- Blue Light
- Red Light
By End User
- Dermatology Clinics
- Homecare Settings
- Others (Workplace, Salons)
By Region
- North America
- Latin America
- APEJ
- Western Europe
- Eastern Europe
- Middle East & Africa
- Japan
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