Light Therapy Market Set for Fragrant Growth with Tech Advancements And Rising Health Awareness
The light therapy market size features diverse growth drivers including, high adoption of non-invasive treatments, technological advancements, and increase in skin disease and mood disorder cases. The market is valued at nearly USD 1.70 billion in 2023 and is expected to reach USD 2.46 billion by 2030, at a 5.4% CAGR during the forecast period.
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Market Estimation, Growth set Factors, and more Opportunities
Light therapy market is driven by a few major factors, as mentioned below:
Increased Incidence of Eczema and Depression: Conditions like psoriasis and eczema and mood conditions like Seasonal Affective Disorder (SAD) are on the rise, increasing the need for potent therapies like light therapy.
Light Therapy Device Innovations: There are new, handheld, portable devices available that brings the technology into the home and allows for clinical use.
Rise of Demand for Non-Invasive Treatments: Patients are opting for treatments with more efficacy and little less side effects, which puts light therapy as a better alternative to some other invasive procedures.
Growth of home healthcare — The home healthcare industry began to grow, allowing for the light therapy devices to be used in the home by those looking to treat their conditions.
Trends shaping U.S. Markets, Plans for 2024 investment and more.
Light therapy was gaining the most traction and investment in the United States in 2024:
Rise of Home Beauty TreatmentsForehead: VoiceoverPeople were also trying to find beauty in their homes, as home beauty treatments, including LED light therapy devices, soared in popularity. Sales of high-tech beauty devices boomed as consumers wanted salon quality results at home.
Technological Advancements: Companies launched new age light therapy appliances with specialized features ranging from multifunctional use to enhanced user interface, owing to the increasing consumer need to offer economical yet effective results right from home.
Market Segmentation and Leading Segments
Based on product type, application, light type, and end-use, the light therapy market is categorized. Some of the following segments account for a significant share of the market:
Based on Product Type, the market is segmented into Handheld devices for skin treatment, Tabletop Dermatology devices, Light Laser Pandent, and Light therapy for skin conditions. The Handheld devices for skin treatment led the market with a share of ~26.7% in 2022. They have gained in popularity for their ease of use and effectiveness in treating multiple skin conditions.
By Application: The sleeping disorders treatment application captured the largest market share, accounting for over 23% in 2022. Medicinal implementation of light treatment when it comes to management of insomnia due to rising incidences of sleep recovery problems, hence pushing the demand of non-pharmacological treatment solution
By Light Type: Blue light therapy was the highest revenue generating segment in 2022 growing with a net revenue share of 42.8% due to its usage in treating psoriasis.
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Regional Analysis
The light therapy market is studied globally, with the trends dissimilar, due to the varying health care infrastructure, incidence of target conditions, and consumer awareness across regions.
United States
Revenue share of the light therapy market from the U.S. dominates the global market. It is due to a high number of cases of Seasonal Affective Disorder (SAD) and psoriasis that this dominance is attributed to. Psoriasis affects about 1 million Americans, fueling demand for effective treatments. The rise in at-home beauty treatments—particularly LED light therapy devices—has also propelled the market. The consumers now have easy access to light therapy due to technological advancements and the availability of easy-to-use light device.
United Kingdom
In recent years, the UK light therapy market has grown thanks to increasing demand for at-home beauty treatments, with consumers investing in products like LED light therapy masks. Demand for LED tools is booming, with the market for LED beauty masks expected to land at £500 million by 2030. Nevertheless, Imperial College London's recent studies have shown that although commonly marketed, LED masks may provide limited efficacy compared to low-level laser therapy (LLLT) devices, which penetrate lower into skin layers. Nonetheless, the demand for LED masks among consumers is showing no sign of abating, encouraged by these devices' ease of use and low price.
Germany and France
With a counterintuitive flowing light therapy market landscape, Germany and France access their light therapy market from a solid chick pedestal with an advanced health care infrastructure, coupled with a higher prevalence of skin conditions such as psoriasis and eczema. Additionally, a rise in adoption of non-invasive treatments among consumers and the availability of advanced technology in light therapy devices have further fuelled the growth of market over the aforementioned years in these countries. The adoption of light therapy has also been supported by governmental initiatives on the awareness of mental health and the management of skin diseases.
Japan
Light therapy in Japan Over the years, light therapy has become more familiar to the public, especially for skin care and anti-aging purposes. The prevalence of beauty and wellness culture has driven the growing adoption of light therapy equipment in clinical and home settings. The development of new light therapy products has also positively affected the Japan light therapy market by increasing the availability of technologically advanced products on the market thus, driving the growth of the Japan light therapy market.
China
The development of the light therapy market in China is accelerating, with the large population base and the gradual improvement of the awareness of non-invasive treatment applied to light therapy. Increasing disposable income and expanding middle-class population has driven the demand for beauty and wellness products such as light therapy devices. Moreover, the increasing incidence of skin diseases coupled with the increasing adoption of aesthetic treatment has stimulated the growth of this market.
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Competitive Analysis
The global light therapy market consists of several players with the key players contributing to the growth of the market through innovations, probable investments, and policy changes. The five companies with the highest market share:
Koninklijke Philips N.V. — A global leader in health technology, Philips has a long legacy of integrating functional technologies in light therapy devices. Philips has announced LumiGuide, which is a light-based alternative to existing X-ray-based methods, allowing physicians to guide themselves to blood vessels without exposing themselves to radiation in February 2024. Philips even says thatThis innovation highlights the companys commitment to better medical imaging and patient safety.
Beurer GmbH: A name synonymous with health and well-being products, Beurer ventured into the new blood glucose monitor device in India in May 2024. Though it does not directly pertain to light therapy, this move demonstrates the companies commitment to expanding its health technology portfolio and could signal future light therapy device advancements.
BioPhotas, Inc.: BioPhotas is dedicated to medical-grade light therapy devices and released the Celluma CONTOUR in March 2024. BioPhotas continues to emphasize efficient and multi-purpose therapeutic solutions with this device cleared by the FDA for body contouring, aging skin and pain treatment.
Lumie — An innovator in light therapy products, Lumie debuted the Lumie Halo Light Therapy Lamp in July 2024. Lumie has integrated their approach towards light therapy with their most modern model — a two-in-one device creating natural sunlight to boost mood, energy, and focus during the day and for relaxation in the evening.
Zerigo Health — Based on the managing chronic dermatological disorders, Zerigo Health recently debuted the Zerigo 2.0 ecosystem in April 2024 as a personalized therapeutic solution package. The new digital platform for home use of psoriasis and eczema is composed of a phototherapy device, a smart app and a resource center to enable stronger adherence and efficacy of treatment.
Conclusion
The worldwide light treatment market is ready for spectacular development, as the requirements of non-obtrusive saw and innovation over the world, and the event of skin issues and inclination made issues are driving the market over the world. The growth in at-home beauty and wellness treatments has additionally opened this market to making light therapy more accessible to a wider consumer demographic.
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