The global Light Therapy Market is estimated to be valued at US$ 874.0 Mn in 2020 and is expected to exhibit a CAGR of 4.9% over the forecast period (2020-2027).
The rising prevalence of mental health and skin disorders, as well as increased investments, product launches, research and development, and the adoption of crucial tactics by leading market competitors, are the factors driving the growth of the Light Therapy Market under study. The prevalence of mental health conditions such as depression, anxiety disorders, Alzheimer's disease, and others is expanding, which is driving up demand for its therapies. These conditions are treated using light therapy. For instance, according to a World Health Organization (WHO) report from September 2021, depression is a widespread mental illness that affects an estimated 5.0% of individuals worldwide. It is a major contributor to disability globally. The market will be driven by the use of light therapy for the treatment of depression and the increasing prevalence of these diseases.
