Light therapy, also referred to as phototherapy, is a type of therapy that involves exposure to light that is brighter than indoor light though not as bright as direct sunlight. This therapy is often used in the treatment of conditions such as depression, jet lag, and sleep disorders. Light therapy is also used to treat seasonal affective disorder (SAD), as it helps reset the circadian rhythms, which controls the sleep-wake cycle.
Light therapy employs light with wavelengths ranging from 390 nm – 1,100 nm that uses LED, fluorescent lamps, polychromatic polarized or full-spectrum to administer a certain amount of time during a specific time of the day.
According to world Health Organization (WHO), depression is a common mental disorder. Globally, over 300 million people of all age groups suffer from depression every year. The medical application of light therapy includes treatment of skin diseases and skin rejuvenation as well as treatment of inflammation diseases such as psoriasis and acne. Cancer cells are killed by administering certain drugs, which are activated by certain kinds of light, thus playing a major role in treatment of cancer. According to WHO, psoriasis affects around 2% of the world population, with nearly two thirds of people having mild form while others having extensive involvement of skin.
On the basis of product type, the light therapy market is segmented into:
On the basis of light type, the light therapy market is segmented into:
On the basis of end users, the light therapy market is segmented into:
Light therapy causes photo-oxidation and thus a primary treatment method for neonatal jaundice, eczema, and psoriasis. Narrow band ultraviolet (UVB) and broad band UVB phototherapy are issued for treatment of skin disorders. Increasing applications, favorable reimbursement policies, and insurance for such treatments is expected to boost demand for the light therapy. Treatment of acne by using LED light is gaining popularity, owing to various benefits such as cellular rejuvenation and improved blood circulation.
LED light therapy is more effective than conventional therapy, as it emits blue and red light, which are beneficial for treating acne and wrinkles. Markets in developed countries are witnessing increasing demand for light therapy products due to the geographic location and high prevalence of SAD. Adoption of light therapy devices such as light boxes and handled devices are projected to increase at very high rate over the forecast period, owing to increasing prevalence of skin-related diseases, which in turn, is caused by increasing adoption of unhealthy lifestyle and eating habits among the populace. Growth of the light therapy market is expected to be hampered due to shortage of funding for light therapy research and post treatment side effects.
North America market hold the largest market share due to the presence of high prevalence of psoriasis and other dermatological diseases in countries such as the U.S. According to American Academy of Dermatology (AAD), psoriasis is a common skin disorder that affected around 7.5 million people in 2013 in the U.S.
The Asia Pacific market is expected witness rapid growth during the forecast period due to increasing awareness regarding skin health coupled with the rising incidence of skin diseases in the region. According to International Federation of Psoriasis Associations (IFPA), over 43 million people suffered from psoriasis in Asia Pacific, in 2014. China is expected to hold majority regional share due to growing geriatric population and rising prevalence of dermatological diseases in the country
Key players operating in the global light therapy market include Koninklijke Philips N.V., Aura Daylight, Sphere Gadget Technologies, Northern Light Technology, Beurer, PhotoMedex, Inc., Nature Bright, Verilux, Inc., Klarstein, Zepter International, Luminette, and Lumie.
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