Light therapy, also known 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 may help treat depression, jet lag, and sleep disorders. Light therapy can be helpful to reset your "biological clock" (circadian rhythms), which controls sleeping and waking. People use this therapy to treat seasonal affective disorder (SAD). Most people with SAD feel better after they use light therapy. This may be as light therapy exchanges the lost sunlight exposure and resets the body's internal clock. In this therapy, a specific wavelength that uses LED, fluorescent lamps, polychromatic polarized or full-spectrum administered for 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 and are a major contributor to the overall global burden of disease. Global light therapy market is largely driven by high prevalence of skin disease and growing adoption of therapy to treat cancer, psoriasis, acne, seasonal affective disorder, and neonatal jaundice. 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 global market is classified into:
On the basis of light type, the global market is classified into:
On the basis of end users, the global market is classified into:
Increased adoption of boxes to treat SAD accelerated light therapy market growth. Light therapy is the primary treatment method to treat neonatal jaundice, eczema and psoriasis. Photo-oxidation is believed to provide these beneficial effects. Narrow band ultraviolet (UVB) and broad band UVB phototherapy issued to treat several skin disorders. Increased applications, favorable reimbursement policies, and insurance for such treatments will 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. LEDs emit blue and red light, which offers added advantage over conventional light therapy, which is driving growth of the light therapy market globally.
Markets in developed countries 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 very high rate over the forecast period. The trend is expected to boost the overall demand for light therapy products such as light boxes, dawn simulators, and handheld devices for skin treatment during the forecast period. The global light therapy industry is expected to witness significant growth however; shortage of funding for light therapy research and post treatment side effects is expected to impede the growth to a certain extent.
The U.S. was the largest contributor to the North America light therapy market, and is projected to witness further traction in the near future, owing to growing prevalence of psoriasis and other dermatological diseases. 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. Asia Pacific light therapy market is expected to grow rapidly during the forecast period due to steady economic development in the region and as per International Federation of Psoriasis Associations (IFPA) over 43 million people suffered from psoriasis in Asia Pacific region in 2014. China is expected to hold majority regional share due to high geriatric population and rise in prevalence of dermatological diseases.
Key players operating in the global light therapy market are 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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