October 12, 2022 08:48 ET | Source: Allied Market Research Allied Market Research
Portland, OR, Oct. 12, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global light therapy market generated $521.1 million in 2021, and is expected to reach $802.7 million by 2031, witnessing a CAGR of 4.4% from 2022 to 2031. The report offers an extensive analysis of drivers and opportunities, key segments, value chain, regional scenario, and competitive landscape. This report provides an extensive analysis for market players, investors, stakeholders, and startups to help them take the next steps for gaining competitive edge and achieving the lead position.
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The research provides detailed segmentation of the global light therapy market based on product, application, light type, and region. The research discusses these segments along with sub-segments to determine the highest revenue-generating and fastest-growing segments for startups, leading players, and investors. Market size and forecasts for each segment and its sub-segments are provided in the report to determine the strategies that can be adopted for achieving the growth.
Based on product, the floor and desk lamps segment held the highest share in 2021, accounting for more than one-fourth of the total share, and is projected to continue its leadership status during the forecast period. However, the handheld devices for skin treatment (HDST) segment is expected to manifest the highest CAGR of 5.5% from 2022 to 2031. The report analyzes the segments including light box, light visor, and others.
Based on application, the skin conditions segment accounted for the highest share in 2021, contributing to more than half of the global light therapy market, and is projected to maintain its lead in terms of revenue during the forecast period. Moreover, this segment is expected to manifest the highest CAGR of 4.8% from 2022 to 2031. The report also analyzes the segments including mood and sleep conditions and others.
Based on light type, the blue light segment contributed to the highest share in 2021, holding nearly two-fifths of the market, and is expected to dominate in 2031. However, the red light segment is projected to grow at the highest CAGR of 5.3% during the forecast period. The research also analyzes the segments including white light and others.
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Based on region, North America accounted for the highest share in 2021, holding nearly half of the global light therapy market, and is expected to maintain its dominance by 2031. However, Asia-Pacific is estimated to grow at the fastest CAGR of 6.2% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global light therapy market analyzed in the research include Beurer GmbH, Johnson and Johnson, Biophostas Inc. (Celluma), Lucimed S.A., Koninklijke Philips, Nature Bright, Lumie, Photomedex Inc., Northern Light Technologies, Verilux, Inc., TheraLight Llc, and Zepter International.
The report analyzes leading players and outlines various strategies such as partnerships, new product launches, collaborations, expansion, and others adopted by them to raise their market share and consolidate their positions in the market. The report offers a detailed analysis of these players in terms of business performance, operating segments, product portfolio, and developments by every market player.
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