Market Size of Global Light Therapy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Light Therapy Market Analysis
The Light Therapy Market is expected to grow at a significant CAGR of 4.5% during the study period (2022-2027).
In recent times, countries have faced a huge threat of COVID-19. COVID-19 has a considerable effect on all major organ systems. According to the article 'The Power of Blue Light - Phototherapy for Recovering From COVID-19,' published in April 2021, blue light therapy had a significant influence on the increase of β-endorphin levels, reduction of systolic blood pressure, improving endothelial function and arterial stiffness and hence, blue light therapy could be beneficial for a range of these persistent symptoms. With research studies depicting the advantages of blue light therapy in treating patients with COVID-19 applications, it was readily adopted, boosting the demand for light therapy products and services. With light therapy's expanding benefits and applications, the market is expected to grow post-COVID-19.
The factors propelling the studied market growth are the growing burden of skin-related disorders, mental health disorders, rising investments, increasing product launches, growing research and development activities, and the adoption of key strategies by major market players.
The growing burden of mental health disorders such as depression, anxiety disorders, Alzheimer's diseases, and others is increasing the demand for its therapeutics, and light therapy is used to treat such disorders. For instance, as per the article published by World Health Organization (WHO) in September 2021, depression is a common mental disorder, and it is estimated that 5.0% of adults suffer from depression globally. It is one of the leading causes of disability worldwide. Increasing usage of light therapy in treating depression and a high prevalence of these diseases will propel the market.
The key strategies adopted by major players, such as mergers, acquisitions, partnerships, investments, and technological innovation, will lead to lucrative market growth. For instance, in March 2022, 10X Health System partnered with DaVinci Medical to bring the Superhuman Protocol to the market. The Superhuman Protocol allows the clients to experience a whole-body 360 solution to restore a lifetime of neglect and naturally boost health and performance. This protocol is designed in three steps, including the Thera Light therapy bed to accelerate the production of Adenosine Triphosphate (ATP). Thus, partnerships boosting product innovation will lead the market towards growth.
Additionally, in November 2021, PHLECS received EUR 50,000 grant from Metropoolregio Eindhoven to initiate the development project of a new generation of phototherapy blue light - UV-free medical device: the Full Body Home Connected. This device can capture patient biomedical data for personalized treatment and enable future artificial intelligence-based services. Thus, huge investments in the studied market indicate that market has huge potential for innovation and growth, thus driving the market during the study period.
Therefore, owing to the aforementioned factors, the studied market is expected to grow significantly during the study period. However, increasing side effects associated with light therapy and product recalls are expected to hinder the market growth during the study period.
