Global Light Therapy Market 2017-2021
About Light Therapy
Light therapy refers to the use of artificial lights of complete spectrum or individual wavelengths for various purposes to such as a substitute of sunlight or for therapeutic uses in dermatology or skin care. They are commonly used to treat SAD (seasonal affective disorder) and other associated condition by using artificial light.Technavio’s analysts forecast the global light therapy market to grow at a CAGR of 4.72% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global light therapy market for 2016-2020. To calculate the market size, the report considers the sales of light therapy products.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Light Therapy Market 2017-2021
Technavio recognizes the following companies as the key players in the global light therapy market: Beurer, Koninklijke Philips, Lumie, and Verilux.
Other Prominent Vendors in the market are: Aura Medical, Compass Health Brands, Demyk Lightmod Products, Lucimed, Nature Bright, Northern Light Technology, Photomedex, Red Light Man, Sphere Gadget Technologies, and Zepter International.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing prevalence of skin disorders. The demand for various aesthetic treatments such as laser surgery is growing due to the increasing number of people who are conscious about their appearance. The growing prevalence of skin disorders such as pimples, scars, acnes, and eczema also drives the demand for skin-related treatments. Hence, the demand for laser surgeries and dermatological procedures is increasing.”
According to the report, one of the major drivers for this market is Growing prevalence of SAD. SAD is a type of depression that is caused due to changes in seasons. Limited exposure to sunlight is a major cause of SAD. People who live in cold countries do not get adequate exposure to sunlight, which increases the prevalence of SAD in these countries. For instance, in the US, 1.2% of the population of Florida and 9.4% of the population of Alaska experience SAD. This is due to exposure to extremely cold conditions. In Canada, 15.3% of the population experience winter blues and 3%-7% of the population are affected by SAD. In the UK, 20.26% of the population experience winter blues and 3% of the population are affected by SAD.
Further, the report states that one of the major factors hindering the growth of this market is Low awareness about light therapy. Light therapy is used in various clinical and home-based treatment procedures such as dermatology, neurology, SAD, and orthopedics. However, it is not commonly used in all geographies due to the lack of awareness. Light therapy is considered as a luxury or secondary treatment procedure in developed countries in Western Europe and North America. The per capita healthcare spending is $9,640 in Canada and $7,619 in the US. The increase in disposable income and healthcare spending and the availability of healthcare facilities increase the growth in the number of people who adopt light therapy.
Beurer, Koninklijke Philips, Lumie, Verilux, Aura Medical, Compass Health Brands, Demyk Lightmod Products, Lucimed, Nature Bright, Northern Light Technology, Photomedex, Red Light Man, Sphere Gadget Technologies, and Zepter International.
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