The global light therapy market is projected to reach at USD 1012.1 million in 2024. A CAGR of 4.6% is predicted for light therapy between 2024 and 2034. By 2034, the market value is forecasted to reach USD 1,586.8 million.
As light therapy devices have evolved, they have become more accessible to athletes. A portable device, such as a handheld wand or a wearable panel, can incorporate light therapy into training regimens and recovery protocols. As a result of this accessibility, light therapy has grown in popularity among players.
Researchers are creating an implantable device for use in patients with traumatic spinal cord injuries. Several sources of funding have already been secured in order to complete various projects. Sport enthusiasts have become increasingly interested in light therapy in recent years due to its potential benefits in accelerating recovery and improving performance.
Red and near-infrared light therapy may restore neural connections in patients with spinal cord injury (SCI). Phototherapy, commonly known as light therapy, has seen advances in technology and applications. PDT for skin cancer lesions has improved with innovations in light source technology that control irradiance, increase spatial uniformity, and penetrate deeper. The National Institute for Health Research has also funded independent research exploring the potential applications of low level light therapy (LLLT) for dentistry.
An innovative method of applying light directly to wounds has been developed and patented by researchers from the University of Birmingham. An optimal ‘dose’ has been determined for this novel therapeutic approach, according to the researchers’ latest research published today in Bioengineering and Translational Medicine. It has also demonstrated that it can significantly improve therapeutic outcomes, including significant restoration of sensation and movement and nerve cell regeneration.
“A growing number of mental disorders, technological advances, and new light therapies will benefit the industry of light therapy market. As portable and convenient devices become increasingly popular, the market will likely be able to expand in the future.” – Says an analyst at FMI.
Key Takeaways from the Light Therapy Market
- A share of 62% was held by the white light market in 2023.
- A 43% market share was held by the light box segment in 2023.
- By 2034, it is predicted that the market in Canada will expand at a CAGR of 2.4%.
- The market in Malaysia is expected to expand at a CAGR of 4.1% during the forecast period.
- A CAGR of 2.4% is predicted for the United Kingdom market between 2024 and 2034.
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Competitive Landscape
Several companies are expanding their product lines in an effort to be able to cater to a larger range of therapeutic needs. Companies that specialize in devices for treating SAD could develop a wide variety of different products, such as those that target skincare, sleep disorders, or general well-being. The credibility of light therapy products can be enhanced through clinical studies and regulatory approvals. Healthcare professionals and institutions adopt devices based on evidence of efficacy and safety gathered by companies.
Recent Development
- In February 2024, Northern Light Technologies sells a range of functional floor and desk lamps that can help users deal with seasonal affective disorder, most of which exhibit the aforementioned clinical style of lighting.
Company Profile:
- Koninklijke Philips N.V.
- Verilux Inc.
- Northern Light Technology
- Sphere Gadget Technologies
- Zepter International
- PhotoMedex Inc.
- Luminette
- Klarstein
- Lumie
- Aura Daylight
- Lifepro Fitness
- STRATA Skin Sciences, Inc.
- Oralucent
- Mito Red Light Inc.
Market Segmentation of Light Therapy
By Product Type:
The industry is segregated into light box, floor and desk lamps, light visor, dawn simulator, and light therapy bulbs.
By Light Type:
In terms of light type, the industry is classified into white light, red light, and blue light.
By End User:
In terms of end user, the industry has been classified into dermatology clinics, homecare settings, and others (workplace, salons)
By Region:
Key countries of North America, Latin America, Western Europe, East Asia, South Asia, Eastern Europe, and the Middle East and Africa are covered.
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