Artificial Intelligence
Global Light Therapy Market Is Expected to Reach USD 1351.09 Million by 2027 : Fior Markets
Newark, NJ, Oct. 06, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global light therapy market is expected to grow from USD 872.40 million in 2019 and to reach USD 1351.09 million by 2027, growing at a CAGR of 5.62% during the forecast period 2020-2027.
The growing prevalence of seasonal affective disorders and similar conditions has been a significant factor for the market’s growth in the recent decade. Light therapy has been increasingly used to treat a variety of health issues related to skin disorders, behavioral change and depression. The dermatological conditions are increasing owing to the change in climate and food habits, which in turn has contributed vastly to the light therapy market. The use of advanced technology, such as narrow-band ultraviolet phototherapy, has propelled the market’s growth.
Light therapy involves exposing the patient to artificial light. It reveals the skin to specific wavelengths of light with polarised light for the treatment of skin disorders. Further, it is also widely used to treat the wintertime seasonal affective disorder by providing the patient with enough deprived sunlight. The light should be administered for a specific period. It directly strikes the retina of the eyes and thus is effective in curing diabetic retinopathy sleep disorders.
The applications of light therapy have increased over the years, owing to technological advancement. These advancements have helped to revolutionize the scope of treatment provided by light treatment. The UV rays are harmful to the skin and result in the prevalence of various diseases such as skin cancer. Thus, the scope of research and development activities has increased with an increase in investments for the development of products. However, the side effects and lack of awareness are hindering the market growth.
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Key players operating in the global light therapy market includes Beurer, Neutrogena, Lumie, BioPhotas, Koninklijke Philips N.V., Northern Light Technology, Chal-Tec, Sphere Gadget Technologies, Aura Daylight, Zepter International, Photomedex, Compass Health Brands, Lucimed, Nature Bright, Verilux, TheraLight, LLC, PhotonMD, Inc., Demyk Lightmod Products, Red Light Man and others. The manufacturers are opting for expansion strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships, to gain a significant market share in the global light therapy market and strengthen their position. Koninklijke Philips N.V. and Beurer are some of the biggest manufacturers and suppliers of light therapy in the global market.
Blue light dominated the market and held the largest market share of 49.23% in the year 2019
Based on the light type segment, the global light therapy market includes red light blue light, white light and others. Blue light dominated the market and held the largest market share of 49.23% in the year 2019. Blue light has been increasingly used in the treatment of skin disorders caused by sunburn. It is useful in the treatment of premalignant and skin cancer. However, the red light is expected to grow at a high rate during the forecast period. It is increasingly used in the treatment of joint pain, arthritis and other orthopedic conditions. Further, it is also used to treat dermatological disorders such as wrinkles, scars, etc.
Handheld devices dominated the market and held the largest market share of 31.92% in the year 2019
Based on the product segment, the global light therapy market includes a light visor, lightbox, dawn simulator, floor and desk lamps, light therapy bulbs, handheld devices and others. Handheld devices dominated the market and held the largest market share of 31.92% in the year 2019. The handheld devices are considered to be safe in comparison to the other alternatives as it is non-invasive and do not damage the cell. Further, it is increasingly used in-home care settings owing to the convenience.
The sleeping disorders segment dominated the market and held the largest market share of 29.39% in the year 2019
The application segment is categorized into psoriasis, eczema, vitiligo, acne vulgaris, sleeping disorders, seasonal affective disorders, winter blues, neonatal jaundice and others. The sleeping disorders segment dominated the market and held the largest market share of 29.39% in the year 2019. The sleep disorder is a common issue nowadays owing to the growing prevalence of depression and disturbed sleep cycle. Thus, more patients are opting for light therapy for the treatment of such disorders. Also, the psoriasis segment is projected to register a substantial rate in the coming years owing to the growing prevalence.
Dermatology dominated the market and held the largest market share of 58.42% in the year 2019
The end-user segment includes home care settings, dermatology and others. Dermatology dominated the market and held the largest market share of 58.42% in the year 2019. The increasing prevalence of skin disorders is the primary factor for the dominant market share. However, home care settings are expected to grow at an impressive rate. The reason for the same can be attributed to the convenience and reduced cost of treatment.
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Regional Segment Analysis of the Light Therapy Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global light therapy market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region accounted for a significant market share of 45.92% in the year 2019. The increasing incidence of skin diseases has resulted in the growth of the market in dermatology applications. Also, the innovative advancements in the development of products have helped increase the region’s demand. However, Asia-Pacific is projected to grow at a substantial rate during the forecast period. The rapidly increasing urbanization and changing lifestyles have taken a toll on mental health. The incidence of depression and sleep disorder has increased, which has resulted in the growth of the market.
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About the report:
The global light therapy market is analyzed on the basis of value (USD Million). All the segments have been analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
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Artificial Intelligence
First Comprehensive Report on Public Web Data Released by Bright Data
Reveals necessity in every industry
NEW YORK, April 23, 2024 /PRNewswire/ — Released today, The State of Public Web Data Report 2024, details a comprehensive analysis on how organizations leverage public web data to drive innovation, enhance customer experience, and develop AI models.
Bright Data commissioned an independent third-party to carry out the first survey of this kind which details the emergence of public web data as the most valued data type. Nearly every organization surveyed uses and benefits from public web data through quicker decision-making, boosting revenue, and meeting customer needs.
The need for public web data in AI is clear in all industries, with more than half of respondents using public web data to build AI models for customer service or to meet internal needs such as fraud detection and risk assessment.
Although necessary to build AI machines, 72% of respondents are worried that public web data will no longer be accessible in the next 5 years. The lack of a legal framework to protect this data emerged as a top concern.
Other key insights from the report:
89% of respondents recognize public web data is crucial or very important to the global economy.82% of respondents say public web data is critical to the future of their organization.79% of respondents agree that large organizations and or big tech hide too much of their public web data.88% of respondents believe public web data is critical for the development of AI models.”Our findings reveal a clear consensus among industry leaders: leveraging public web data is key to unlocking growth and fostering innovation,” said Or Lenchner, CEO of Bright Data. “Public web data is not a ‘like to have,’ it’s a ‘must have’ to conduct business and maintain a competitive market. We understand from our own experience with 20,000 customers that once a business realizes the potential of public web data they will look to discover new ways to leverage this tool to lead against the competition.”
About Bright Data: Bright Data is the #1 web data platform. Fortune 500 companies, academic institutions, non-profits, and small businesses rely on Bright Data’s solutions to collect public web data in the most efficient, reliable, and flexible way to make faster, more informed business-critical decisions.
Contacts:[email protected]
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Artificial Intelligence
OSIA becomes an official International Telecoms Union (ITU) standard
ITU Standardization Sector (ITU-T) Recommendation X.1281 – APIs for interoperability of identity management systems
BRUSSELS, April 23, 2024 /PRNewswire/ — The Secure Identity Alliance (SIA) announced today that its OSIA specification, is recognized as international standard by the International Telecommunication Union’s Telecommunication Standardization Sector (ITU-T). This milestone establishes OSIA as official ITU standard (ITU-T Recommendation) for the global infrastructure of information and communication technologies (ICT).
The specification that is now an ITU-T Recommendation is: ITU-T X.1281 – APIs for interoperability of identity management systems.
ITU-T is the standardization arm of ITU, the United Nations specialized agency for ICT. The Secure Identity Alliance specifications were approved as official ITU-T Recommendations by ITU members including 193 countries and the world’s front-running ICT companies on 1st March 2024. The new ITU-T Recommendation is under the responsibility of ITU’s standardization expert group for security, ITU-T Study Group 17.
“We are very proud that the OSIA specification is recognized as an international standard by ITU-T. This milestone demonstrates the maturity of OSIA and its potential to foster interoperability and promote fairness in the identity management systems market,” said Debora Comparin, Chair of the OSIA Initiative.
Prof. Heung Youl Youm, Chairman of ITU-T Study Group 17, said, “The recognition of the OSIA specification as an official ITU-T Recommendation underscores its critical contribution to the advancement of global ICT infrastructure. We are thrilled about the ongoing collaboration between ITU-T SG17 and the SIA, aimed at developing standards for secure identity management.”
“As Editor of the OSIA standard in the ITU-T Study Group 17 Q10, I am pleased to have contributed to this successful recommendation by the ITU,” said Abbie Barbir, Rapporteur for ITU-T’s working group on ‘Identity management and telebiometrics architecture and mechanisms’ (Q10/17). “The collaboration with the SIA continues on OSIA and other structuring initiatives and standards development.”
Engr Abisoye Coker-Odusote, CEO, National Identity Management Commission (NIMC), Nigeria & Chair of the OSIA Advisory Committee, said, “As the Chair of the OSIA Advisory Committee, comprised exclusively of government representatives, we take great pride in our five years of collaboration guiding the working group in the development of the OSIA specification. OSIA establishes equal marketplace conditions, fosters collaboration, and ensures product compatibility post-mergers and acquisitions. The OSIA standardized interfaces drive innovation, enabling new local market models and reducing fraud within multiple ID systems. Additionally, OSIA addresses integrator/vendor lock-in, allowing governments to maintain control over their identity systems and pursue national development agendas seamlessly.”
“The Secure Identity Alliance has always supported standards and its members have contributed to thousands of standards globally, which are now used in the ICT market. Standards are key to unlock the full power of Identity to enable people, economy and society to thrive,” concluded Didier Trutt, Chairman of the SIA.
X.1281 is at publication stage and can be accessed here: https://www.itu.int/ITU-T/workprog/wp_item.aspx?isn=18778
OSIA v6.1.0. twin specification can be accessed here: https://osia.readthedocs.io/en/v6.1.0/index.html
OSIA qualification programme can be accessed here: https://globalplatform.org/osia-qualification-program/
For more information on the Secure Identity Alliance and the OSIA Initiative, visit http://www.secureidentityalliance.org and www.osia.io
For more information on ITU-T SG 17 visit https://www.itu.int/en/ITU-T/studygroups/2022-2024/17/Pages/default.aspx.
About the Secure Identity Alliance:
Secure Identity Alliance (SIA) is a global non-profit association that serves as the voice for public and private actors and organizations active in the secure identity ecosystem and adjacent industries. SIA’s mission is to unlock the full power of identity so that people, economy, and society thrive. The association supports the development of the activities of its members across four broad pillars: Identity for Good, Outreach, Open Standards Development and Industry Services and Solutions. www.secureidentityalliance.org
About OSIA:
A digital public good, OSIA is an open standard set of interfaces (APIs) that enables seamless connectivity between building blocks of the identity management ecosystem – independent of technology, solution architecture or vendor. More information at www.osia.io
Follow the Secure Identity Alliance at on X @secureidentity1 and LinkedIn at https://www.linkedin.com/company/secure-identity-alliance/
About ITU-T SG 17
The ITU Telecommunication Standardization Sector (ITU-T) is one of the three Sectors (branches) of the International Telecommunication Union (ITU). It is responsible for coordinating standards for telecommunications and Information Communication Technology such as X.509 for cybersecurity, Y.3172 and Y.3173 for machine learning, and H.264/MPEG-4 AVC for video compression, between its Member States, Private Sector Members, and Academia Members.
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Artificial Intelligence
SciBase will present at the Redeye Medtech Event on April 24th
STOCKHOLM, April 23, 2024 /PRNewswire/ — SciBase Holding AB (“SciBase”) (STO: SCIB), a leading developer of augmented intelligence-based solutions for skin disorders will participate at the Redeye Medtech event.
On April 24 at CET 9.50 CEO Pia Renaudin will present the latest developments in SciBase at Redeye. The presentation is live broadcasted and can be followed at https://www.redeye.se/events/974326/redeye-theme-medtech-2 where the replay and the presentations will be available afterwards.
For additional information, please contact:Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected]
Certified Advisor (CA):Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
About SciBase:
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/scibase/r/scibase-will-present-at-the-redeye-medtech-event-on-april-24-th-,c3966053
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https://mb.cision.com/Main/12371/3966053/2751965.pdf
Redeye presentation
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