Light therapy is also called as phototherapy or heliotherapy, which uses fluorescent light bulbs, sunlight, light emitting diode (LED), and other sources of light for the treatment of medical conditions such as neurological disorders, skin disorders, jaundice, and others. The therapy uses visible light of various wavelengths which produces positive effects on the human bodies, for example, red and near infrared light, blue light, and green light. The red and near infrared light targets mitochondria of the cells to boost the cellular energy production, which provides healing effect throughout the body. Blue light provides antimicrobial effect thus it is used for the treatment of skin disorders such as acne and others, and the green light has been found beneficial for reducing the frequency and intensity of migraines
Market Dynamics
Market players are indulged in inorganic activities such as partnerships with distributors, which may increase the customer base, and this in turn is expected to drive growth of the market over the forecast period. For instance, on January 2, 2020, LightStim, a manufacturer of handheld LED therapy device, entered into a partnership with AestheticSource, a distributor of aesthetics products. This agreement is expected to increase patient access for the light therapy products.
Key players are also engaged in launching new and innovative products, which is expected to support growth of the market over the forecast period. For instance, on December 3, 2020, GlobalMed Technologies launched Omnilux Contour, a line of home use LED light therapy products, which is based on the Omnilux Medical technology. Moreover, GlobalMed Technologies also launched its new store online, where all the light products are available for sale.
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