An Incisive, In-depth Analysis on the Light Therapy Market
This study offers a comprehensive, 360 degree analysis on the Light Therapy market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Light Therapy market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Introduction
Light therapy entails the usage of specially designed light boxes emitting full-spectrum therapeutic lights similar in composition to sunlight to treat persons suffering from circadian rhythm sleep disorders, skin diseases and also those suffering from seasonal affective disorders (SAD). Over the past few years, there has been an increase in prevalance rate of SAD in various developed countries across the globe. Various independent entities have emerged as standalone light therapy companies to cater to the everincreasing demand for products such as light boxes, floor and desk lamps, light visors, dawn simulators, light therapy bulbs and handheld devices for skin treatment. Over the last few years, companies are focused towards introducing portable light therapy devices targeting the consumer segment, which is anticipated to witness surge in market share globally by 2026. Also, Increasing demand for blue light therapy procedures for treatment of various disorders and conditions, including SAD, globally is prompting manufacturers to launch such devices to cater to the growing needs in this regard. These trend are expected to boost overall demand for light therapy market during the forecast period.
Market Value Forecast
In terms of value, the global light therapy market is anticipated to be valued at US$ 1161.5 Mn by 2026, expanding at a moderate CAGR over the forecast period.
Market Dynamics
Growth of the global light therapy market is mainly driven by increasing prevalence of SAD in Northern hemisphere such as North America and Europe, along with increasing usage of light therapy for treating acne, anti-ageing and skin diseases. Also, when compared to men, women are known to exhibit higher SAD ratio rate, i.e. 2:1 respectively. Increasing preference for alternative treatments for anxiety and stress among women is expected to boost overall sales of light therapy devices worldwide over the forecast period. Companies are adopting various strategies to sustain in the market and create a distinct value proposition for diverse consumer segments in order to offer cost-effective treatment for various skin disorders with less side-effects. This is in turn expected to drive growth of the light therapy market in developing regions.
The global light therapy market is expected to witness impressive growth over the forecast period. However, lack of funding for light therapy research and post treatment side effects is expected to hamper growth of the global light therapy market.
Segmentation by Product
The global light type market is segmented on the basis of product type into light box, floor and desk lamps, light visor, dawn simulator, light therapy bulbs and handheld devices for skin treatment. Among the various product type segments, light box segment is expected to account for highest market share and register a CAGR of 4.3% between 2016 and 2026.
Segmentation by Light Type
The global light therapy market is segmented on the basis of light type into white light, blue light, red light and others (green light, yellow light). Among the light type segments, the white light segment is expected to witness most impressive growth during the forecast period.
Segmentation by End User Type
The global light therapy market is segmented on the basis of end user type as dermatology clinics, homecare settings and others (workplace, salons). Among the end user type segments, homecare settings segment is expected to witness relatively impressive growth during the forecast period.
This Future Market Insights report examines the ‘Global Light Therapy Market’ for the period 2016–2026. The primary objective of the report is to offer updates, trends, drivers, restraints, volume and value forecasts and opportunities for manufacturers operating in the global light therapy market.
Global demand for light therapy devices is increasing as a result of rapid adoption of new technologies and increasing incidence of Seasonal Affective disorder (SAD) and skin treatments. Markets in developed economies are witnessing increasing demand for light therapy products due to the geographic location and high prevalence rate of SAD. Adoption of light therapy devices is projected to increase at a rate of 4.8% over the forecast period. The trend is expected to boost the overall demand for light therapy products such as light boxes, dawn simulators, handheld devices for skin treatment during the forecast period. To understand and assess the opportunities in this market, the report is categorically split into four sections, namely market analysis by product type, end user type, light type and region. The report analyses the global light therapy market in terms of market value (US$ Mn).
The report starts with an overview of the light therapy market and its usage in various applications globally. In the same section, FMI covers the light therapy market performance in terms of revenue. This section includes FMI’s analyses of key trends, drivers and restraints from the supply and demand perspective.
The next section of the report analyses the market is based on product type and presents the forecast in terms of value for the next ten years. Product types covered in the report include:
- Light Box
- Floor and Desk Lamps
- Light Visor
- Dawn Simulator
- Light Therapy Bulbs
- Handheld Devices for skin treatment
The next section of the report analyses the market based on light type segments and presents the forecast in terms of value for the next ten years. The light type segments covered in the report include:
- White Light
- Blue Light
- Red Light
- Others (green light, yellow light)
The next section of the report analyses the market based on end user type segments and presents the forecast in terms of value for the next ten years. The end user type segments covered in the report include:
- Dermatology Clinics
- Homecare Settings
- Others (workplace, salons)
Furthermore, the report analyses the market based on regions and presents the forecast in terms of value for the next ten years. Regions covered in the report include:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East & Africa (MEA)
- Japan
The forecast presented for the market assesses the total revenue generated in the light therapy market. When developing the forecast, the starting point involves sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. Given the characteristics of market, we triangulated the outcome based on different analysis of the supply side, demand side and GDP growth rate. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global light therapy market.
As previously highlighted, the global light therapy market is split into various categories based on region, product type, end user type and light type. All these segments or categories have been analyzed in terms of Basis Point Share (BPS) to understand the individual segments’ relative contribution to market growth. This detailed level of information is important for identification of various key trends in the global light therapy market.
Another key feature of this report is the analysis of the light therapy market by region and product type segments, end user type and light type segments; and the market revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global light therapy market.
Furthermore, Future Market Insights has developed a market attractiveness index for all four segments, namely regional, product type, end user type and light type. This index helps in identifying the real opportunities in the market.
The final section of the report includes the competitive landscape to provide report audiences a dashboard view, based on categories of providers across the market, their presence in the light therapy product portfolio and key differentiators.
Key players in the global light therapy market include Koninklijke Philips N.V., Verilux, Inc., Northern Light Technology, Zepter International, Photomedex Inc., Beurer, Nature Bright, Lucimed SA, Chal-Tec-GmbH, Lumie, Aura Daylight and Sphere Gadget Technologies
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