New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Light Therapy Global Market Report 2023" - https://www.reportlinker.com/p06480019/?utm_source=GNW
, Sphere Gadget Technologies, Compass Health Brands, TheraLight LLC, BioPhotas Inc., The Daylight Company and Zerigo Health.
The global light therapy market is expected to grow from $1.12 billion in 2022 to $1.18 billion in 2023 at a compound annual growth rate (CAGR) of 4.86%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The light therapy market is expected to reach $1.43 billion in 2027 at a CAGR of 5.09%.
The light therapy market consists of revenues earned by entities by providing various light therapy services such as photo-biomodulation therapy (PBMT), photodynamic Therapy (PDT), full-body light therapy, and targeted full-body light therapy for treating skin diseases.The market value includes the value of related goods sold by the service provider or included within the service offering.
The light therapy market also includes sales of infrared light devices, UV light source devices, light therapy tools with multiple colors, and mood-boosting light therapy devices.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Light therapy, commonly known as phototherapy, is a non-invasive medical treatment that treats various skin diseases by using different wavelengths of light for a set period of time to specific wavelengths of light to stimulate cellular activity and improve healing. It is used in treating autoimmune diseases, bacterial infections and fungal infections on the skin, psychiatric conditions, retinal diseases, and tumors.
North America was the largest region in the light therapy market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in light therapy are light boxes, floor and desk lamps, handheld devices for skin treatment, light visors, dawn simulators, light therapy lamps, and others.Lightboxes refer to a flat box with a glass or plastic side and an electric light inside that provides an even level surface or illumination that is used in light therapy for chemical adjustment in the brain that improves mood and lessens other signs of seasonal affective disorder (SAD).
Major light types are white light, blue light, red light, and others applied for psoriasis, vitiligo, eczema, acne vulgaris, sad/winter blues, sleeping disorders, and others by various end users such as homecare settings, hospitals, dermatology clinics, and others.
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 and the number of cases being screened tripled between 2020 and 2021, reaching 4,041 in total. 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.
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.
In December 2020, DJO, LLC, a subsidiary of Colfax Corporation, a US-based medical device company acquired LiteCure LLC for an undisclosed amount.This acquisition aims to enhance DJO’s position as the world’s foremost provider of recovery sciences and enables the business to offer unmatched innovation to its clients and their patients.
LiteCure, LLC is a US-based medical device company committed to developing, producing, and disseminating cutting-edge therapeutic medical technology.
The countries covered in the light therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The light therapy market research report is one of a series of new reports that provides light therapy market statistics, including light therapy industry global market size, regional shares, competitors with a light therapy market share, detailed light therapy market segments, market trends and opportunities, and any further data you may need to thrive in the light therapy industry. This light therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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