Surging Awareness is fueling the Global Light Therapy Lamp Market Growth
The rising depression, increasing insomnia, and a growing number of skin diseases and other diseases such as seasonal affective disorder and winter blues are expected to drive the global light therapy lamp market through 2028F
According to TechSci Research report, “Light Therapy Lamp Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”. The global light therapy lamp market is expected to project impressive growth during the forecast period, owing to the rapidly increasing demand from hospitals and clinics with the growing requirement to treat a variety of skin concerns and conditions, including eczema, hair loss, mild to moderate acne, psoriasis, roughness, scaly, and precancerous spots on the skin (actinic keratosis), rosacea, sun damage, wounds, and wrinkles.
The global market for light therapy is anticipated to expand significantly due to the rise in skin disorders, depression, seasonal affective disorder, and mood disorders. Additionally, the female population uses light therapies more frequently due to their increased desire to look attractive. Therefore, it is anticipated that this factor will support the market for personal care therapy.
For instance, the Journal of the National Psoriasis Foundation estimates that in 2021, about 3% of adults in the United States will receive a psoriasis diagnosis. Additionally, psoriasis is most frequently treated with narrow-band ultraviolet B therapy, which raises the demand for light therapy.
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The global light therapy lamp market is segmented on type, light type, end user, distribution channel, and regional distribution. Based on type, the market is further segmented into table/ desk lamps, floor lamps, and others. Among these, the table/ desk lamp registers the most significant revenue shares of the market on account of growing demand from the individual in their respective space such as home and office.
On the basis of light type, the market is further fragmented into white light, blue light, red light, and others. Among these, the white light lamp has registered the largest revenue shares and dominated the global light therapy lamp market during the forecast period as sunlight encourages the body to produce more serotonin which is an essential source of natural Vitamin D. Lack of exposure to natural sunlight has been linked to lethargy, trouble sleeping, and certain forms of depression. During the shorter winter days, bright white light can be used to supplement the natural sunlight that some people may not get enough of. White light can improve mood, increase energy, and aid in concentration. Both seasonal affective disorder and sleep disorders can be treated with white light. Jet lag and addictive behaviors such as alcoholism or compulsive eating can also be helped by white light.
Based on end users, the market is segmented into dermatology clinics, home care, and others. Dermatology clinics are expected to register the most significant revenue shares and assert dominance over the market in the next five years. Increasing demand for light therapy lamps at home by the consumer with time due to their ability to cure skin disorders and mental disorders is anticipated to drive the growth of the global light therapy lamp market along with the development of the sub-segment during the forecast period.
Key market players in the global light therapy lamp market include:
- Verilux, Inc.
- Koninklijke Philips N.V.
- Beurer GmbH
- Fairdeals Lites P Ltd (murphy' LED Lights)
- Nature Bright Co., Ltd.
- Outside In (Cambridge) Ltd (Lumie)
- Biophotas Inc. (Celluma)
- Lucimed SA
- Carex Health Brands, Inc.
- Thrasio Company (Circadian Optics)
Various companies only indulge in the light therapy market to cure skin-related issues. For instance, Verilux, Inc., a prominent player in the light therapy lamp market, is well known for its innovative design and patented lighting products that use specific wavelengths of light that mimic natural daylight to improve people’s lives. The company focuses on three segments: therapy lights for mood and energy improvement, productivity lights for better vision, and sanitizing lights for chemical-free cleaning.
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“North America is anticipated to hold the highest market revenue shares and is expected to dominate the segment in the next five years because of increasing mental disorder illness, improved sleep schedule due to changing lifestyles, and the growing awareness for the available treatment for the seasonal affective disorder. The increasing demand for light therapy lamps to improve mood and cure winter blues and pain is further expected to aid the market's growth. In addition, more than half a million Americans experience seasonal depression each year. This results in increased demand for the global light therapy lamp market.
However, Asia-Pacific is expected to be the fastest growing region during the forecasted period as World Health Organization (WHO) estimates that about 7.5% of Indians have some mental disorder and predicts that roughly 20% of India by the end of this year will suffer from mental illnesses. According to the numbers, 56 million Indians suffer from depression, and another 38 million Indians suffer from anxiety disorders.
"Light therapy's benefits are unknown to a sizable portion of the world's population, which could hinder future growth. However, the booming urban population worldwide, who are more aware of the current treatment options, and the astronomical growth of the healthcare industry in developing nations will offer lucrative opportunities to the companies.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
“Light Therapy Lamp Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Type (Floor Lamp, Table/Desk Lamp, Others (includes Wall Mounted, Tablet Lamps, etc.)), By Light Type (White Light, Blue Light, Red Light, Others (includes Green Light, Purple Light, Pink Light, etc.)), By End User (Dermatology Center, Home Care, Hospital & Clinic) By Distribution Channel (Supermarket/Hypermarket, Electronic Stores, Online, Others (Departmental Stores, Multi-Branded Stores etc.)), By Region, Competition”, has evaluated the future growth potential of global light therapy lamp market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global light therapy lamp market.
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