Red light therapy is gaining popularity for treating ailments like skin issues and insomnia, with the market expected to surpass $1 billion soon.
ESOMAR certified market research company Future Market Insights (FMI) global light therapy market is likely to surpass US$ 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.
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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
“Innovations by incorporating the latest light dissipating technologies while simultaneously ensuring minimal side effects forms the cornerstone of prominent manufacturers’ marketing strategy, generating credible growth opportunities,” says the FMI analyst.
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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 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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More Insights on the Global Light Therapy Market
In its latest report, FMI offers an unbiased analysis of the global light therapy market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (light box, floor and desk lamps, light visor, dawn simulator, light therapy bulbs and handheld devices for skin treatment), light type (white light, blue light, red light and others) and end-user (dermatology clinics, homecare settings and others (workplace, salons)) across seven regions (North America, Latin America, APEJ, Western Europe, Eastern Europe, Middle East & Africa and Japan).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
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The article discusses the growing preference for red light therapy as a treatment for various ailments.
How is the light therapy market expected to grow? The market is projected to surpass $1 billion, with significant growth in skin and insomnia treatments.
What regions are seeing significant growth? The UK and Germany are key regions for growth in light therapy applications.
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