SAN FRANCISCO, Oct. 20, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Light Therapy - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: April 2021
Executive Pool: 706
Companies: 31 - Players covered include Aura Daylight; Beurer GmbH; Chal-Tec GmbH; Koninklijke Philips NV; Lucimed S.A.; Lumie; Nature Bright Co.; Northern Light Technologies, Inc.; Photomedex, Inc.; Verilux, Inc.; Zepter International and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Commercial, Domestic, Healthcare)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Light Therapy Market to Reach $943.5 Million by 2026
Amid the COVID-19 crisis, the global market for Light Therapy estimated at US$765.9 Million in the year 2020, is projected to reach a revised size of US$943.5 Million by 2026, growing at a CAGR of 3.5% over the analysis period. Commercial, one of the segments analyzed in the report, is projected to record a 3.4% CAGR and reach US$419.5 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Domestic segment is readjusted to a revised 4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $213 Million in 2021, While China is Forecast to Reach $191.6 Million by 2026
The Light Therapy market in the U.S. is estimated at US$213 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$191.6 Million by the year 2026 trailing a CAGR of 6.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.
Healthcare Segment to Reach US$235.4 Million by the year 2026
In the global Healthcare segment, USA, Canada, Japan, China and Europe will drive the 2.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$148.8 Million in the year 2020 will reach a projected size of US$176.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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