The growing burden of dermatological disorders and other major driving factors influence positively in boosting the growth of red light therapy devices market
Global Red Light Therapy Device Market, by Type (Light Therapy Devices (LED Therapy), Lasers, Microdermabrasion Devices, Cryotherapy Devices, Electrosurgical Equipment), by Application (Skin Cancer, Skin Rejuvenation, Hair Removal, Body Contouring, Skin Tightening, Psoriasis), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
As per the report,the increasing concerns of dermatological disorders and skin problems among the population worldwide such as acne vulgaris, wrinkles, and psoriasis is projected to accelerate the global Red Light Therapy Market in the near future. The voluminous usage of broadband (UVB) and narrowband ultraviolet (UVB) phototherapy for treating skin problems and dermatological disorders is expected to fuel the global red light therapy market growth.
One of the major reasons for such dermatological disorders among the consumers is the unhealthy and hectic lifestyle which results in unhealthy and junk consumption and lack of fitness workout and exercise. Moreover, the increasing demand and growing adoption of handheld devices and lightboxes by medical therapists to treat particular skin disorders is projected to stimulate the demand for the red light therapy devices and thus, driving the global red light therapy market growth.
Some of the boons of red light therapy are cellular rejuvenation and better blood circulation are likely to propel the global Red Light Therapy Market. Additionally, in recent past years, society and the consumers have evolved much and both men and women are equally contributing to the global market growth as they have a sheer interest in red light therapy for anti-ageing treatment, body contouring, skin tightening, treating acne, and skin diseases.
Furthermore, the favorable reimbursement scenarios in the developed economies are also expected to further improve and fasten the red light therapy industry growth. The reimbursement policies for cancer, psoriasis, neonatal jaundice, and eczema in developed countries are projected to develop the demand for red light therapy among the consumers. In addition to that, the augmenting R&D activities and investments by giant industry players for designing and developing the innovative and technologically advanced red light therapy devices are also projected to substantially upsurge revenue size of the global red light therapy market during the analysis timeline.
The giant manufacturers are opting for different strategies to sustain in the global market and create a competitive advantage and a distinct value proposition for wide consumer segments in order to provide cost-effective treatment for various dermatological problems and skin disorders with reduced side-effects. Thereby it is in turn expected to drive the growth of the red light therapy market across the globe.
MMC Study identifies some of the key participating players in red light therapy market globally are Sphere Gadget Technologies, Verilux, Neutrogena, Aura Daylight, Northern Light Technology, Beurer, BioPhotas, Photomedex, Lumie, Nature Bright, Chal-Tec, Lucimed, Zepter International, and Koninklijke Philips.
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