ESOMAR certified market research company Future Market Insights (FMI) global light therapy market is likely to surpass US$ 1 billion in the short-run, expanding at a moderate CAGR in that time period.
Long-term prospects appears largely optimistic, with credible opportunities expected to present themselves with respect to addressing acute depression problems.
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.
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.
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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
Competitive Landscape
Koninklijke Philips N.V., Verilux Inc., Northern Light Technology, Sphere Gadget Technologies, Zepter International, PhotoMedex Inc., Luminette, Klarstein, Lumie and 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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