Tuesday, June 25, 2024

Blue Light Therapy Market Expected to Reach USD 351.6 Million By 2028

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Market Overview The blue light therapy market is anticipated to experience a 4.8% growth rate in terms of value from 2020, reaching USD 351.6 Million by 2028. Utilizing blue light for treating various conditions, both skin-related and non-skin-related, is recognized as a pain-free procedure.

The rising occurrence of skin conditions, like psoriasis, is anticipated to fuel market expansion in the upcoming years. Blue light therapy has demonstrated its effectiveness in easing symptoms linked to psoriasis, as it diminishes skin inflammation and regulates the excessive proliferation of impacted skin cells. Although it does not provide a cure, blue light therapy enables individuals to handle their condition, having received approval from the U.S. Food and Drug Administration (FDA) for mild psoriasis treatment at home.

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The market is also influenced by the rising prevalence of Seasonal Affective Disorder (SAD), where blue light therapy has been found as effective as bright white-light for treatment. Additionally, the market is propelled by the significant impact of blue light therapy on sleeping disorders, providing a valuable application for the treatment of circadian rhythm and mood disorders.

Key Report Highlights The report covers region and country-wise statistics from 2020 to 2028, utilizing 2016 and 2017 as historical data, with 2020 as the base year and 2020-2027 as forecasted years. It includes market size estimation, trend analysis, product and application segmentation, regulatory frameworks, regional therapy outlook, ongoing clinical trials, and competitive landscape analysis.

Salient Trends in the Blue Light Therapy Market Key trends include the use of blue light therapy in treating jaundice in newborns, reducing fatigue and daytime sleepiness in traumatic brain injury patients, and its UV-free nature, eliminating concerns about skin cancer or premature skin aging.

The market is witnessing increased demand due to the growing prevalence of acne, with blue light therapy proving to be a noninvasive treatment for acne vulgaris by destroying acne-causing bacteria.

Companies Profiled Key companies in the market include Philps Koninklijke NV, Sphere Gadget Technologies, Aura Daylight, North Light Technologies, Veriflux Inc., Nature Bright, Klarstein, Zepter International, PhotoMedex, and Beurer, among others.

Market Analysis The market valuation was USD 243.2 Million in 2020 and is expected to reach USD 351.6 Million by 2027. Light visors are anticipated to witness the fastest growth rate of 5.5%, while sleeping disorders hold the second-largest market share and are expected to grow at a rate of 4.6% in the forecast period. Hospitals currently dominate the market, with the Asia Pacific region expected to exhibit the fastest growth at 6.1% in the forecast period.

Segmentation The report segments the global blue light therapy market based on product type (light box, floor & desk lamps, light visor, handheld devices for skin treatment, blue light therapy bulbs, dawn simulator), application (psoriasis, vitiligo, eczema, winter blues, acne vulgaris, sleeping disorders, seasonal affective disorders), end-users (hospitals, clinics, homecare settings), and region (North America, Europe, Asia Pacific, Latin America, MEA).

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