COVID-19 Impact Analysis:

The COVID-19 pandemic is expected to drive the growth in the heat therapy market during the forecast period, owing to the rise in anxiety, depression, and insomnia among the COVID-19 patients. Furthermore, the global spread of COVID-19 has expedited the need for efficient antimicrobial methods to target the virus's causative agent. Light-based technologies outperform typical chemotherapeutic antimicrobials and conventional disinfectants in terms of activity, resistance emergence, and the ability to modify the human immune response. Many market participants are undertaking clinical trials to determine the safety and efficacy of the heat therapy on the COVID-19 patients' recovery. Such R&D initiatives are expected to promote market expansion during the forecast period.

Top Impacting Factors:

• The heat therapy lamp market is expanding due to the increase in interest from pharmaceutical makers for pain management products, aimed at the geriatric population.
• The surge in the use of disposable items is expected to aid in the growth in the heat therapy lamp market during the forecast period.
• Furthermore, the increase in patients’ desire for non-invasive procedures, advantageous reimbursement circumstances in developed nations, and technological innovation in heat therapy are driving market expansion.
• Furthermore, the increase in product approvals from regulatory bodies is expected to fuel market expansion during the forecast period.
• Furthermore, there is a rise in the prevalence of physiological and sleep disorders, which increases the demand for light therapies globally. In addition, the increase in the prevalence of SAD (Seasonal Affective Disorder) and psoriatic diseases increases the demand for light therapy for the treatment of such disorders.
• The heat therapy lamp market expansion would be hampered by the rise in competition from herbal pain relief products.

Market Trends:

New Product Launches to Flourish Heat Therapy Lamp Market

• In October 2020, Lumerie Skyn launched HyperGlo Skin Rejuvenation Therapy System. The company is harnessing the benefits of low-level light therapy for skin care devices, thereby fortifying their customer base.
• In March 2020, TheraLight LLC, acquired all assets from TheraLight Inc., a manufacturer of phototherapy devices. This acquisition has led to the expansion of the company’s product portfolio by addition of DuaLight and VersaClear products.
• One of the primary factors driving the growth of the heat therapy market is the rise in the prevalence of depression globally. According to the National Institute of Mental Health (NIHM), roughly 51 million people in the U.S. were living with mental illness in 2019. Furthermore, the World Health Organization (WHO) estimated that by 2020, more than 264 million individuals globally would suffer from depression. Heat therapy products help with seasonal affective disorder (SAD) by increasing the serotonin levels. In addition, the increase in the number of cases of sleeping problems such as insomnia drives the demand for various heat therapy products, as heat therapy helps with circadian rhythm and aids in getting adequate sleep.

Key Benefits of Report:

• This study presents the analytical depiction of the heat therapy lamp along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the heat therapy lamp market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the heat therapy lamp market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the heat therapy lamp market.
• The report provides a detailed heat therapy lamp market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in Heat Therapy Lamp Market Report:

• Who are the leading market players active in the heat therapy lamp market?
• What current trends will influence the heat therapy lamp market in the next few years?
• What are the driving factors, restraints, and opportunities in the heat therapy lamp market?
• What future projections would help in taking further strategic steps?
• What is heat therapy lamp?
• What is heat therapy lamp market prediction for the future?
• Who are the leading global players in the heat therapy lamp market?
• What are the current trends and predicted trends?
• What are the key benefits of the heat therapy lamp market report?