Light Therapy Market Statistics: Shedding the Lights on Current Trends

Kate Sukhanova

from Techreport on 2024-02-01 15:43 (#6JA3H)

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The light therapy market statistics are, first and foremost, a reflection of society's increased emphasis on healing, care, and innovation. Secondly, they're part of a large healthcare and health-tech market which has wide-ranging medical and commercial implications.

But what is light therapy?

Light therapy, also known as phototherapy or red light therapy, is exposure to natural or artificial light executed for medical purposes. Its use can be dated back to ancient civilizations that venerated the sun, but it first saw widespread use in the 20th century. Today, light therapy is widely used to treat many physical and mental conditions.

This significance of the light therapy market is a big reason why we put this guide together. In this guide, we'll share with you the size of the light therapy market, its popularity across the world, and the most common types and applications. We'll also introduce you to the key market players. Let's dive in.

Key Light Therapy Market Statistics

By 2032, the light therapy market will grow to exceed $1.5 billion at a CAGR of 6.3%.
In 2022, the North American region accounted for over a third of the overall light therapy market, or $346 million, making it the largest market overall.
By 2027, the global market value of conventional phototherapy devices is forecast to surpass $250 million.
The light therapy skin condition treatment market is expected to grow to $495.1 million by 2027 (up from $367.1 million in 2020).
Bright light therapy can reduce PTSD scores in veterans by about 33%.
61% of SAD patients can have their symptoms disappear within 4 weeks of light therapy treatment.
The global infant phototherapy market is projected to reach $140 million by 2030.

Light Therapy Market Size & Revenue

Monosnap-Light-Therapy-Market-Share-Size

Source: Global Market Insights

Reports by Grand View Research and Global Market Insights stipulate that the value of the light therapy market was $1 billion in 2022. It's forecast that by 2032, the market will grow to exceed $1.5 billion at a CAGR of 6.3%.

Some of the big reasons for such accelerated growth are:

Increases in seasonal affective disorder (SAD) and other mental health conditions
Popularity of non-invasive procedures
Ease of using light therapy devices, such as lamps.

Light Therapy Market Statistics by Region

Light therapy is popular all around the world, but some markets are bigger than others. In this section, we'll take a look at the different regions' light therapy market statistics.

North America light-therapy-1.jpg?_t=1706128382

Source: Grand View Research

In 2022, the North American region accounted for over a third of the overall light therapy market, or $346 million, making it the largest market overall. As you'll see later in this guide, many key players in the market are based in the US, so the large slice is no surprise.

Europe

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In terms of growth of the European light therapy market, the forecast CAGR is 4.6% - lower than the global average. As you can see from the infographic above, in 2020, Germany was the leader in the European region in terms of the light therapy market value, which was $55.8 million. The country is also forecast to be the frontrunner in 2027 when the value of its light therapy market is expected to reach $80.7 million.

The Eastern European region is estimated to be a close second to Germany in 2027, with a $56.3 million market by 2027. The smallest market is Spain - in 2020, the market was less than $17 million, and is forecast to reach $24 million by 2027.

APAC

North America might be the largest light therapy market in the world, but the Asia-Pacific market is the fastest-growing one. Its projected CAGR for 2023-2030 is 5.6%. The main reasons for this accelerated growth are the increased investment in telemedicine and higher awareness of light therapy, as well as increased sleep disorders.

Light Therapy Statistics by Type Monosnap-Phototherapy-market-worldwide-2

Source: Statista

When it comes to light therapy, there are multiple different types of equipment on offer, all of which are meant for different use cases. Some of these types include LED light therapy equipment, fiber optic equipment, and conventional light therapy equipment (or compact fluorescent equipment). We'll go over each of them in this section.

Conventional Phototherapy

By 2027, the global market value of conventional phototherapy devices is expected to surpass $250 million. Conventional phototherapy uses halogen or compact fluorescent lamps. It's commonly used for treating conditions like hyperbilirubinemia and jaundice in newborns (more on that later), as well as for several other medical cases.

A 2011 study from India surmised that conventional halogen phototherapy used to treat hyperbilirubinemia in infants was just as effective as LED phototherapy. However, another Indian study published eight years later questions this.

According to its findings, the conventional phototherapy treatment led to a smaller decrease in serum bilirubin than the LED treatment. Those findings imply that LED therapy treatments could be more effective than conventional phototherapy. Let's look at them in more detail.

LED Phototherapy

The predicted 2027 value of the LED phototherapy devices market isn't too far behind conventional phototherapy - $209.4 million, to be precise. Originally intended for growing plants in space, today, LED is a popular treatment for skin conditions and wound healing. It's also known as red therapy."

A study published back in 2001 stipulates that LED can shrink a wound by up to 36%. Moreover, it even improved musculoskeletal training injuries of Navy SEALs by over 40%.

Modern studies seem to support this. However, researchers also stipulate that while LED therapy can be effective for the conditions described above, further evidence is needed to confirm its effectiveness for cancer and weight loss treatments.

Fiberoptic Phototherapy

While not as well-known as its above light therapy counterparts, fiberoptic phototherapy is nonetheless a popular form of treatment. Like conventional phototherapy, it's also commonly used to treat neonatal jaundice and hyperbilirubinemia. In fact, its market value is predicted to surpass LED phototherapy in 2027 and reach $222.1 million.

A 2021 African study examined the effectiveness of fiberoptic phototherapy vs. conventional therapy in treating hyperbilirubinemia. The conclusion was that fiberoptic phototherapy was equally effective as blue light conventional phototherapy but considerably more effective than white light phototherapy. Moreover, the study proposed the possibility of using fiber optic equipment to treat any conventional therapy side effects.

Light Therapy Statistics by Application LIGHT-THERAPY-APPLICATIONS-OF-LARGEST-VA

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Now that you've grasped the size of the light therapy market, we'd like to take you through its key applications. This section will feature the main use cases of light therapy, and we'll explore how effective it's been in treating them.

Skin Conditions & Melanoma Monosnap-New-melanoma-skin-cancer-cases-

Source: Statista

One of the biggest clinical applications of light therapy is skin condition treatment. That market is expected to grow to $495.1 million by 2027 (up from $367.1 million in 2020).

A big reason for such growth is the effectiveness of light therapy against skin diseases and abnormalities. According to a 2018 report by the Ablon Skin Institute and Research Center, LED light therapy can heal post-surgery wounds and treat acne, psoriasis, and even certain carcinomas. The study examined a specific device, and here are its key findings:

LED acne treatments with peak wavelengths of 409nm to 419nm showed a significant impact at weeks 5, 8, and 12, reaching a 60% reduction at week 12
Post-surgery wound treatments with a 633 nm LED allowed the wounds to heal less than 14 days after the surgery, compared to the 26.8 days it took non-LED-treated patients to heal.
Psoriasis LED treatments of 830nm and 633 nm over 4-5 weeks resulted in a 60-100% remission rate.
Photodynamic therapy was used to treat Bowen's disease, resulting in clearing 100% of lesions after 2 treatments.

Therefore, as you can see, light therapy has a lot of merit when it comes to skin conditions. There's also evidence that light therapy, or photodynamic therapy, is effective against melanoma. With almost 100,000 new melanoma cases emerging in 2023 in the US alone, it's vital to pay attention to the effectiveness of the non-invasive treatment.

Light Therapy and Cancer

A 2022 American-German study suggests that red light (RL) phototherapy can decrease the growth of cancer cells and tumors. A Japanese study from the same year proposes the usage of light therapy delivered via microneedles and shows that there's potential for it to work with blue light.

However, both studies agree that there's still a lot of work to be done in relation to phototherapy cancer treatments, as it's not a perfect method and hasn't been researched enough.

Sleep & Mental Health Disorders

Light therapy has long been used to treat sleep disorders and mental health disorders, such as depression, anxiety, SAD, and PTSD. For example, a 2005 study shared in the American Journal of Psychiatry confirms that bright light therapy treatment's impact on depressed people was comparable to that of SSRI drugs.

According to the study referenced above, treating a depressed patient with a 10,000 lux device for 3 hours per day yields the desired results - a significant reduction in symptoms of nonseasonal depression.

Other studies also stipulate that light therapy has a positive impact on post-traumatic stress disorder victims. For instance, a 2022 study published in the Military Medicine Journal suggests that bright light therapy can reduce PTSD scores in veterans by about 33%. However, it doesn't bring about PTSD remission by itself.

That's not to say, though, that light therapy should be the end-all-be-all solution for mental health issues. For example, its impact on schizophrenia is still questioned by psychiatrists, although there have been some studies by Science Direct suggesting its somewhat positive impacts.

In terms of sleep disorder treatment, light therapy treatments also offer some benefits. A study by UNC-Chapel Hill researchers confirms the positive effect of light therapy on sleep disorders in older persons. However, the same study, as well as others, admit that the research is inconclusive and the impacts of light therapy are small to medium.

SAD

Monosnap-The-Efficacy-of-Light-Therapy-i

Source: American Journal of Psychiatry

SAD, or seasonal affective disorder, affects a huge number of people, especially those living in the Northern regions of the planet. It manifests in low moods, concentration issues, and other symptoms of depression, particularly during the winter months when days are shorter.

It's very common to treat SAD with a form of light therapy by exposing patients to bright lights. This is usually done through special bright lamps with more than 10,000 lux. The light therapy treatment has proven effective over the years. For instance, one study stipulates that 61% of SAD patients had their symptoms disappear within 4 weeks of treatment.

Another study shared in the American Journal of Psychiatry, published in 2005, confirms the light therapy's effect on SAD. It further stipulates that an adequate dose of light therapy for SAD is a minimum of 4 days of at least 3,000 lux-hours.

A significant reduction in depression symptom severity was associated with bright light treatment."

American Journal of Psychiatry, Volume 162, Issue 4.

Jaundice

Neonatal jaundice has long been treated with phototherapy. This market is forecast to reach $201.8 million by 2027. That's not surprising, considering that about 50% of full-term babies and 80% of premature newborns can develop jaundice. Furthermore, the global infant phototherapy market size (including jaundice) is projected to reach $140 million by 2030.

The light therapy method for treating jaundice is used in most countries, with the most common methods being blue light and blue-green light. UV therapy is rarely used on newborns due to the risk of gene mutation.

Key Players of Light Therapy Market

Now that you know about the market size of light therapy and its most important use cases, it's time to consider who's making it all possible. In this section, we'll go over the key players in the light therapy industry.

Verilux Inc.

Vermont-based Verilux Inc. is one of the oldest active light therapy equipment providers. Founded in 1956 and acquired by Bear Down Brands in 2020, the company offers therapy lamps known as HappyLight and SmartLight.

The privately held company doesn't disclose its financial information. Many of its products are below $100, making them an accessible choice for light therapy. The New York Times and CNN both recommend Verilux HappyLight lamps for light therapy in 2024.

Philips

The Dutch giant Koninklijke Philips N.V. is a well-known manufacturer of domestic appliances, including light therapy. First created in 1891, the company can trace its roots in the light industry to that very year when it was a lightbulb seller.

Today, Philips' primary focus is healthtech, such as light therapy. The latter products are primary for consumers, and their price point is much higher than Verilux's. Although Philips shares their revenue information, it doesn't disclose which portion of it is attributed to light therapy solutions.

Northern Light Technologies

This manufacturer of light therapy products is younger than the industry veterans listed above. Founded in 1989, NY-based Northern Light Technologies, or NLT, offers US-manufactured light therapy lamps known as BOXelite, LUXOR, and a handful of others.

The company is a founding member of the Circadian Lighting Association trade association - an industry body for SAD light therapy products. It's been recommended by the American Psychiatric Association.

Like most other private companies, NLT doesn't disclose its finances. However, the cost of its products is somewhat higher than Philips.

Upcoming Key Trends in Light Therapy

Unfortunately, we don't have an LED-powered crystal ball. But what we do have is this guide, where we delved into various scientific reports, studies, and statistics on light therapy.

Based on what we learned, we believe that we can make educated guesses as to the future trends impacting the light therapy market.

We're going to do just that in the final section of this guide. Let's dive in.

Scientific & Technological Advancements

It goes without saying that light therapy is a scientific and technological innovation. In this guide, we went over several studies of light therapy, many of which admit there's still a lot of work to do to fully unravel its potential.

When it comes to science, the only way is forward, so it's very likely that in the next few years, we'll see more scientific breakthroughs in light therapy. And given the large-scale investments of many governments into health-tech and med-tech, chances are that we'll be seeing many amazing light therapy gadgets, too.

Wearables Integration light-therapy-2-1200x631.jpg?_t=17061371

Source: Statista

The wearable technologies market is growing at an exponential rate, thanks to Apple Watch and similar gadgets. We're convinced that the portability and accessibility of wearables can take light therapy to new heights.

For instance, LED-equipped wearables, such as glasses and biosensors, can deliver targeted therapy directly to the skin or even through the eyes. Such integrations with wearables would not only be convenient and more efficient, but can also facilitate real-time monitoring and adjustment of light exposure, thus potentially aiding in medical research.

Increased Accessibility

At the moment, many companies are offering home light therapy devices. The increasing prevalence of such devices can make light therapy more accessible and affordable, saving people from having to go to a medical facility.

Since most insurance packages don't cover light therapy, making more home devices can reduce costs for a lot of people and equip medical researchers with more data than ever.

Is Light Therapy Here to Stay?

The short answer - yes. The long answer - also yes, but it'll encompass even more medical use cases than it does today.

Light therapy might have originally been created by NASA to grow plants in space, but it has since evolved into a million-dollar industry, making a difference in people's lives every day. From acne and eczema treatments to psoriasis, wound healing, and even melanomas, phototherapy works as a non-invasive treatment option with few side effects when done right.

We at TechReport are always keen to find out more about innovations for the good of society. For that reason, we're really excited about seeing more scientific breakthroughs in the field of light therapy and geeking out about the technology making the most of them.

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