Light Therapy Market Size forecast to reach over $980mn by 2024: Global Market Insights Inc. Light Therapy Market Size is forecast to grow above 4.5% CAGR from 2016 to 2024 and reach over USD 980 million by 2024. This therapy is used to treat Seasonal Effective Disorder (SAD) and other specific disorders by making use of artificial light. SAD is a type of depression that is linked to changes in seasons. Brightness in this therapy is more than indoor lighting but less than sunlight. It is a specific wavelength which uses LED, fluorescent lamps, polychromatic polarized or fullspectrum administered for a certain amount of time during a specific time of the day. Global light therapy market size is largely driven by increased prevalence of skin disease and growing adoption of therapy to treat psoriasis, cancer, acne, seasonal affective disorder, and neonatal jaundice. According to WHO, Psoriasis affects approximately 2% of the world population with nearly two thirds of people have mild form while others have extensive involvement of skin. Psoriasis prevalence among the developed countries ranges between 1.5% to 5.0%.
Increased adoption of boxes to treat SAD has accelerated light therapy market growth. It 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 is used to treat various skin disorders. Increased applications, favorable reimbursement policies, and insurance for such treatments will boost demand. Based on the products, light therapy boxes market share is expected to dominate sales due to its application in various sleep disorders. Visor market is gaining traction due to its applications in treatment of SAD. The head-mounted portable lighting devices intended to increase convenience and flexibility of use, are suited for novel applications such as in-flight treatment. LED has become popular due to its various applications on aging epidermis. It enables healthy blood circulation which augments the skin’s natural radiance and improves skin elasticity and surface. Infrared LED is used to treat acne vulgaris. These factors will drive growth.
1|Page