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Light Therapy Market | Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 120 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5617146
UP TO OFF until Sep 30th 2023
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. Such research studies depicting the advantages of blue light therapy in treating patients with COVID-19 applications, it was readily adopted which has boosted the demand for light therapy products and services. With the expanding benefits and applications of light therapy, the market is expected to grow post-COVID-19 era.

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 adoption of key strategies by major market players.

Th 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 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 cause of disability worldwide.Increasing usage of light therapy in treatment of 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 among others will lead to lucrative growth of the market. For instance, in March 2022, 10X Health System entered into a partnership 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 Thera Light therapy bed to accelerate the production of Adenosine Triphosphate (ATP). Thus, partnerships boosting the product innovation will lead the market towards growth.

Additionally, in November 2021, PHLECS receives 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 will enable future artificial intelligence-based services. Thus, huge investments in the studied market indicates that market has huge potential for innovation and growth, thus driving the market during study period.

Therefore, owing to aforementioned factors, the studied market is expected to grow significantly during the study period. However, increasing side effects associated with light therapy and increasing product recalls is expected to hinder the market growth during study period.

Key Market Trends

Red Light Segment is Expected to Account for the Largest Market Share During the Forecast Period

Red light therapy (RLT) or photobiomodulation is an emerging treatment that’s showing promise in treating wrinkles, redness, acne, scars and other signs of aging. This therapy is not toxic, not invasive and not as harsh as some topical skin treatments. Red light therapy (RLT) is a treatment that uses low wavelength red light to reportedly improve the skin’s appearance and treat other medical conditions.

The launch of new red light therapy products and services, increased adoption of RLT, huge investments, adoption of key strategies by major players, and rising research and development studies is expected to boost the studied market.

In October 2021, Lifepro launched its Red Light Therapy line, aimed at providing access to non-invasive wellness care at a competitive price. Each product targets different points on the body to provide a full suite of support for a variety of ailments and wellness goals. Such launches of therapies by market players increase accessibility and thus boosts the growth of the market.

The adoption of key strategies such as partnerships and collaborations, investments and others by major players will boost the studied segment. For instance, in February 2022, UFC Performance Institute and GameDay Ready Recovery Zone entered into a partnership to provide red light therapy to all UFC athletes which will help in enhancing their performance. Red light helps in returning the body to optimal performance at a cellular level by Increasing adenosine triphosphate (ATP) production and reducing the oxidative stress following challenging workouts.

In February 2022, The Arizona Coyotes partnered with Mito Red Light Inc., an Arizona based company that develops red light therapy products to support recovery, performance and overall health and wellness. Thus, the readily adoption of red-light therapy in various areas will drive the market growth significantly.

Additionally, rising research and development studies proving the efficacies of red light therapy in various diseases will boost the market studies. For instance, as per clinicaltrials.gov, a study was initiated by Zhongshan Ophthalmic Center, Sun Yat-sen University in March 2021, to evaluate the adjunctive effect of repeated low-level red-light therapy (RLRL) and orthokeratology (ortho-k) on myopia control in ortho-k non-responders who have undergone ortho-k treatment but were still experiencing fast myopia progression. Thus, result from such research studies will increase its adoptability, leading to lucrative growth of the market.

Thus, due to the above-mentioned factors, the studied segment is expected to contribute to the significant growth of the market.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same Over the Forecast Period

The primary driving factors for the growth of the North American light therapy market are growing burden of mental health and skin related disorders, growing research and development activities, increasing investments, rising product launches and key initiatives taken by the key market players.

The rising burden of skin related disorders such as acne vulgaris, psoriasis, vitiligo and others is expected to boost the light therapy market as they are used to treat these disorders. According to a Medscape article published in August 2021 titled "How common is acne vulgaris in the United States?" acne is the most common skin condition in the United States, affecting 50 million people each year. Acne vulgaris affects 80% of people in the United States at some point in their lives. Severe acne affects 20% of people, causing long-term physical and mental scarring. Thus, the high prevalence of acne vulgaris is expected to boost the market growth in the country.

The launch of light therapy products and services in the region will also drive the market significantly. For instance, in November 2021, Vital Red Light launched a new collection of at-home, professional grade red and near-infrared light therapy devices which will provide the patients the accessibility to light therapy treatments from the comfort of their zone. Additionally, in February 2022, Oralucent launched its multi-patented, blue and red-light emitting phototherapy toothbrush to address whitening and other common dental concerns in a safe and effective way.

Moreover, strategies such as rising partnerships and increasing investments by major players in the market will also boost innovation in the region, thereby boosting the market in the region. For instance, in October 2021, Zerigo Health received USD 43 million in the funding round led by 7wireVentures. This will help Zerigo in scaling up the availability of its phototherapy system and allow it to reach an even greater percentage of people living with chronic skin conditions in the United States.

The positive results from the research activities in the region will also drive the market significantly. For instance, as per Clinicaltrials.gov, a study was initiated by Portland VA Medical Center and Oregon Health and Science University in August 2017 and is estimated to be completed by August 2026. This study aimed to assess the feasibility and preliminary efficacy of morning bright light therapy, to improve sleep in Veterans with traumatic brain injury.

Therefore, due to the above-mentioned factors, the studied market is expected to lead to lucrative growth of the market in North America.

Competitive Landscape

The studied market is fragmented and moderately competitive. Key strategies such as collaborations, mergers and acquisitions, partnerships, and investments among others are readily adopted by key market players, boosting the market. The major players in the market include Koninklijke Philips N.V., Verilux, Inc., Northern, Light Technologies, Beurer, and Zepter International among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Skin and Mental Health Disorders
4.2.2 Increasing Research and Development Activities
4.3 Market Restraints
4.3.1 Increasing Side Effects Due to Light Therapy and Product Recalls
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - in USD Million)
5.1 By Product Type
5.1.1 Light Box
5.1.2 Floor and Desk Lamps
5.1.3 Light Visor
5.1.4 Dawn Simulator
5.1.5 Light Therapy Bulbs
5.1.6 Handheld Devices
5.2 By Light Type
5.2.1 White Light
5.2.2 Blue Light
5.2.3 Red Light
5.2.4 Others (Green and Yellow Light)
5.3 By Application
5.3.1 Vitamin D Deficiency
5.3.2 Mental Health Disorders
5.3.3 Skin Disorders
5.3.4 Neonatal Jaundice
5.4 End User
5.4.1 Dermatology Clinics
5.4.2 Home Care Settings
5.4.3 Others (Workplace, Salons, etc.)
5.5 Geography
5.5.1 North America United States Canada Mexico
5.5.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.5.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.5.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.5.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Koninklijke Philips N.V.
6.1.2 Verilux, Inc.
6.1.3 Northern Light Technologies
6.1.4 Beurer
6.1.5 Zepter International
6.1.6 PhotoMedex, Inc.
6.1.7 Nature Bright
6.1.8 Lucimed SA
6.1.9 Carex
6.1.10 Lumie
6.1.11 Revian, Inc.
6.1.12 BioPhotas

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Koninklijke Philips N.V.
  • Verilux, Inc.
  • Northern Light Technologies
  • Beurer
  • Zepter International
  • PhotoMedex, Inc.
  • Nature Bright
  • Lucimed SA
  • Carex
  • Lumie
  • Revian, Inc.
  • BioPhotas