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Global Light Therapy Market Size, Share, Trends & Forecast 2019-2025
The global light therapy market is estimated to grow at a CAGR of over 6% during the forecast period. The market growth is attributed to the increasing demand for non-invasive therapeutic procedures coupled with the growing need for light therapies. With the improvements in therapeutic techniques, non-invasive procedures have been promising that require no incisions and typically produce no post-surgical pain, superior results, and faster recoveries.
Surgeons use several non-invasive therapies such as light therapies for various diseases such as Seasonal Affective Disorder (SAD), Psoriasis, Acne, Vitiligo, Sleeping Disorders, Others (Eczema, Winter blues). The bright light therapy that consists of the daily management of artificial bright light of appropriate intensity, duration, and time of use is mostly used for the treatment circadian rhythm sleep disorders.
Furthermore, increasing sleep disorders such as insomniac, sleep apnea, and others contribute to the light therapy market. Additionally, the poor sleep patterns and stances, increasing stress levels and changes in lifestyle give rise to sleep disorders that will increase the demand for light therapy products across the globe. Furthermore, age, obesity and snoring habits of adults lead to an increase in the rate of obstructive sleep apnea, thus fueling the growth of market.
Due to long term absence of enough lubrication and moisture on its surface, eyes start itching causing dry eye syndrome. The absence of tears arises due to gland malfunctioning which can be fulfilled by artificial tears. This brings roughness on outer surface of eyes resulting in irritation and scarring further results in the sleeping disorders that further raises the demand for light therapy for the treatment of sleeping disorders.
Substantial Opportunity in Emerging Market
The global light therapy market has significant growth in emerging economies such as China, India, and Brazil. Various factors such as increasing incidences of phycological and sleeping diseases and growing number of non-invasive and surge in healthcare facilities increases the demand for advanced light therapy products. Rising medical tourism and growth in the ageing population are estimated to support the market growth in the Asia-Pacific market.
The growing potential in these emerging markets is attracting market players to serve their products and services to the healthcare organizations. Specifically, the Asia-Pacific region is considered to be one of the emerging markets due to the significant growth of the healthcare system in countries such as India, China, and South Korea. Asia-Pacific is projected to witness immense growth and development in the healthcare sector due to significant investment by government and adoption of advanced healthcare facilities coupled with growing awareness towards various diseases such as psoriasis, sleep disorders and high patient base in the region.
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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