Global Light Therapy Market to Reach USD 1,586.8 Million by 2034 amidst Rising Adoption in Sports and Healthcare | FMI

The global light therapy market is on an upward trajectory, projected to reach USD 1,012.1 million by 2024, and is anticipated to grow at a CAGR of 4.6% from 2024 to 2034, reaching an impressive USD 1,586.8 million by 2034. This growth can be attributed to the increasing accessibility and innovative applications of light therapy devices, particularly among athletes and patients with specific medical conditions.

Recent advancements in light therapy technology have led to the development of portable devices, including handheld wands and wearable panels, which integrate seamlessly into training regimens and recovery protocols. This newfound accessibility has significantly boosted the popularity of light therapy among athletes, as they seek effective ways to enhance performance and accelerate recovery.

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In a groundbreaking initiative, researchers are developing an implantable device aimed at aiding patients with traumatic spinal cord injuries (SCI). With several funding sources already secured, the project promises to push the boundaries of light therapy applications in medical settings. Research indicates that red and near-infrared light therapy may facilitate the restoration of neural connections in SCI patients, further solidifying light therapy’s potential in sports and rehabilitation.

Additionally, the field of phototherapy, commonly known as light therapy, continues to evolve. Recent innovations in photodynamic therapy (PDT) for skin cancer lesions have enhanced light source technology, allowing for better control of irradiance and deeper tissue penetration. The National Institute for Health Research has also funded independent studies exploring the applications of low-level light therapy (LLLT) in dentistry, highlighting the versatility of light therapy across various medical disciplines.

A notable development comes from researchers at the University of Birmingham, who have patented an innovative method for directly applying light to wounds. Their latest findings, published in Bioengineering and Translational Medicine, reveal an optimal ‘dose’ of light that significantly improves therapeutic outcomes, including the restoration of sensation and movement, as well as nerve cell regeneration.

As the global light therapy market continues to expand, it holds immense promise for enhancing recovery and improving performance for athletes and patients alike. Stakeholders in the healthcare and sports industries are encouraged to keep a close eye on this rapidly evolving field.

“A growing number of mental disorders, technological advances, and new light therapies will benefit the industry of light therapy market. As portable and convenient devices become increasingly popular, the market will likely be able to expand in the future.” – Says an analyst at FMI.

Key Takeaways from the Light Therapy Market

• A share of 62% was held by the white light market in 2023.
• A 43% market share was held by the light box segment in 2023.
• By 2034, it is predicted that the market in Canada will expand at a CAGR of 2.4%.
• The market in Malaysia is expected to expand at a CAGR of 4.1% during the forecast period.
• A CAGR of 2.4% is predicted for the United Kingdom market between 2024 and 2034.

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Competitive Landscape

Several companies are expanding their product lines in an effort to be able to cater to a larger range of therapeutic needs. Companies that specialize in devices for treating SAD could develop a wide variety of different products, such as those that target skincare, sleep disorders, or general well-being. The credibility of light therapy products can be enhanced through clinical studies and regulatory approvals. Healthcare professionals and institutions adopt devices based on evidence of efficacy and safety gathered by companies.

Recent Development

• In February 2024, Northern Light Technologies sells a range of functional floor and desk lamps that can help users deal with seasonal affective disorder, most of which exhibit the aforementioned clinical style of lighting.

Company Profile:

• Koninklijke Philips N.V.
• Verilux Inc.
• Northern Light Technology
• Sphere Gadget Technologies
• Zepter International
• PhotoMedex Inc.
• Luminette
• Klarstein
• Lumie
• Aura Daylight
• Lifepro Fitness
• STRATA Skin Sciences, Inc.
• Oralucent
• Mito Red Light Inc.

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Market Segmentation of Light Therapy

By Product Type:

The industry is segregated into light box, floor and desk lamps, light visor, dawn simulator, and light therapy bulbs.

By Light Type:

In terms of light type, the industry is classified into white light, red light, and blue light.

By End User:

In terms of end user, the industry has been classified into dermatology clinics, homecare settings, and others (workplace, salons)

By Region:

Key countries of North America, Latin America, Western Europe, East Asia, South Asia, Eastern Europe, and the Middle East and Africa are covered.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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