The Increasing Mental Health Problems Such As Alzheimer’s, Depression and Dementia to Boost the Light Therapy Market Growth

 

Light Therapy

Light Therapy Market is Segmented by Product Type (Light Box, Floor and Desk Lamps, Light Visor, Dawn Simulator, Light Therapy Bulbs, and Handheld Devices), Light Type (White Light, Blue Light, Red Light, and Others (Green and Yellow Light)), Application (Vitamin D Deficiency, Mental Health Disorders, Skin Disorders, and Neonatal Jaundice), End User (Dermatology Clinics, Home Care Settings, and Others (Workplace, Salons, etc.)) and and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Light Therapy Market is estimated to be valued at US$ 997 million in 2022 and is expected to exhibit a CAGR of 6 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Light therapy is also called as phototherapy, it is a therapy leading to exposure to an artificial source of light. The treatment mainly cures MDD with seasonal patterns called as SAD. This is a kind of depression that takes place in a specific time of year, generally in the wintertime while there is less daylight. Light can be utilized to cure other problems, consisting diseases related to sleep and other kind of depression.

Competitive Landscape:

Key players involved in the growth of global Light Therapy Market are Northern, Light Technologies, Koninklijke Philips N.V., Beurer, Verilux, Inc., and Zepter International, 

Market Key Drivers:

The increasing mental health problems such as Alzheimer’s, depression and dementia is expected to drive the growth of the global Light Therapy Market. For instance, as per WHO, depression is the main and primary mental health problem affecting 5.0 % of the global population.

The rising mergers, adoptions, collaborations, investments, and technical innovation, has projected to propel the growth of global light therapy market. For instance, in March 2022, 10X Health System collaborated with DaVinci Medical to attain the Superhuman Protocol to the platform. 

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of global Light Therapy Market. The surge in pandemic has led to the restriction of people to hospital visits. The rising focus of physicians towards declining the Covid-19 cases led to the delay in treatment of other disorders.  The strict shutdown cases also impeded the market growth.

Key Takeaways:

The global Light Therapy Market is anticipated to exhibit a CAGR of 6 % during the forecast period owing to the rising launches and approvals for the expansion of the product. In October 2021, Lifepro introduced its Red Light Therapy line to offer entrance to non-intrusive wellness care at a modest price. 

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global light therapy market due to rise in population, rising approvals and launches, increasing R&D, collaborations and partnership, rising mental and skin diseases. For instance, as per Medscape, Acne vulgaris was found in 80% of people in the U.S.