Light Therapy is Estimated to Witness High Growth Owing to Increased Adoption for Treatment of Various Medical Conditions

Light therapy, also known as phototherapy, involves exposure to daily doses of artificial light, either from a lightbox that emits a broad spectrum of light or from specially designed wavelength-specific lights for the treatment of medical conditions like seasonal affective disorder (SAD), newborn jaundice, psoriasis, sleep disruption, and more. Light therapy has been effectively used to treat mild to moderate depression, including SAD and is commonly used as a supplemental therapy for other conditions as well. The growing prevalence of various medical conditions globally along with greater awareness about light therapy as a safe and non-invasive treatment method is driving its increased adoption.

The global light therapy market is estimated to be valued at US$ 989.02 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
One of the key drivers for the growth of the light therapy market is the increasing adoption for treatment of various medical conditions like depression, sleep disorders, acne, psoriasis, and more. Light therapy has proven to be an effective and safe supplementary treatment method for many conditions with minimal or no side-effects. The availability of compact, portable and affordable light therapy devices is also boosting market growth.

SWOT Analysis
Strength: Light therapy has minimal side effects compared to medication for conditions like seasonal affective disorder. It is a non-invasive treatment option that does not require prescription. Light therapy lamps and lightboxes are also relatively inexpensive solutions. Using full-spectrum light helps regulate the body’s circadian rhythms and boosts serotonin and melatonin levels.

Weakness: Exposure to bright light for long periods of time can cause eye strain and headaches in some individuals. The treatment effects are also highly dependent on consistent and proper use of the lighting equipment as directed. Some people may find it difficult to stick to the daily light therapy schedules.

Opportunity: With growing awareness of its benefits, the usage of light therapy can be expanded for more indications beyond just SAD and winter blues. For example, using specific wavelengths of light may potentially help manage other mood disorders, fatigue, and sleep problems. Manufacturers can focus on developing more portable and convenient light therapy products.

Threats: Alternative treatment options like antidepressants may reduce the demand for light therapy over time. Unexpected technology advancements could make existing light therapy products and lamps outdated quickly. Fluctuations in component prices can increase the cost of equipment.

Key Takeaways
The global light therapy market is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising incidences of SAD and other mood disorders. The market size was valued at US$ 989.02 Mn in 2024 and is projected to reach over US$ 1,600 Mn by 2030 at a CAGR of 5.2%.

Regional analysis: North America currently dominates the light therapy market and is expected to maintain its leading position through 2030. This can be attributed to growing awareness among individuals and healthcare providers about light therapy. Increased adoption of smart and advanced lightboxes particularly in the United States is also contributing to regional market growth. Meanwhile, Asia Pacific is poised to offer lucrative opportunities owing to rising geriatric population, improving access to healthcare facilities, and growing discretionary spending on wellness products.

Key players: Major players operating in the light therapy market include Koninklijke Philips N.V., Verilux, Inc., Northern Light Technology, TheraLight, LLC, Zepter International, Photomedex Inc., Beurer GmbH, Nature Bright, Lucimed SA, PhotonMD, Inc., BioPhotas, Chal-Tec GmbH, Johnson & Johnson, and Carex Health Brands Inc. These leading companies are focusing on new product development, diversification of product portfolios, and geographical expansion strategies to solidify their market positions and benefit from rising market potential globally.