Increasing Number of Air Travelers is Driving the Growth of Jet Lag Therapy Device Market
Globally, the jet lag therapy device market is expected to grow with a CAGR of 11.5% during the forecast period from 2019 to 2027. The market's growth is primarily driven by the increasing number of air travelers across the globe. Over the past decade, a sudden rise in the number of people traveling has been witnessed. As per the International Air Transportation Association, there were approximately 3.8 billion air travelers worldwide in 2016. This number is further estimated to cross the 7.0 billion mark by 2035. This growth is attributed to the increasing disposable income of the population in developing regions such as India and China. Furthermore, changing lifestyles along with a decline in the price of airfares is also encouraging air traveling.
The advancement in the design and technology of jet lag devices is also a major force propelling market growth. In addition, the supportive government initiatives and policies to spread awareness about jet lag and its impact is also prominent factors augmenting the demand for jet lag devices. However, several factors are hindering the growth of the market. The presence of alternative and substitute solutions such as pills and drugs is a major inhibitor in the market growth. Moreover, the relatively higher price of jet lag devices compared to the other alternatives is a major constraint in the market growth.
Market Synopsis
Blue Light Devices is Estimated to Grow Significantly During the Forecast Period
The jet lag therapy device market is categorized based on the type of white light devices, blue light devices, and others. The white light devices accounted for more than 45% share of the overall jet lag therapy devices market in 2018. The market's growth is attributed to the widespread adoption among business class travelers. On the other hand, blue light devices are estimated to grow significantly during the forecast period.
North America is Leading the Jet Lag Therapy Device Market
North America led the jet lag therapy device market with a 35% revenue share in 2018. The growth of the market is attributed to a large number of air travelers in the region. It is justified by the fact that the U.S. is the largest aviation market across the globe. Moreover, the high disposable income of the population in the region, along with cheap airfares, is the primary factor supporting the growth of jet lag therapy devices in the region.
The key players in the jet lag therapy device market are Ayo (Novalogy), Chrono Eyewear BV, Inteliclinic, Litebook Co. Ltd., Lucimed S.A., Lumie, Nature Bright, Northern Light Technologies, Propeaq, Re-Time Pty Ltd., Valkee, and Verilux, Inc.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The jet lag therapy device market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global jet lag therapy device market based on type, application, and geography. Key segments covered in the report are as follows:
Segmentation Type Segment (2017–2027; US$ Bn)
White Light
Blue Light
Others
End-use Segment (2017–2027; US$ Bn)
Business Travelers
Cabin Crew
Athletes
Seasonal Travelers
Others
Geography Segment (2017–2027; US$ Bn)
North America (U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (Middle East & Africa, Latin America)
Unique data points of this report
Statistics on jet lag therapy devices and spending worldwide
Recent trends across different regions in terms of adoption of jet lag therapy devices across end-users
Notable developments going on in the industry
Attractive investment proposition for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
Frequently Asked Questions:
The market for Jet Lag Therapy Device is expected to reach US$ XX Bn in 2027.
The Jet Lag Therapy Device market is expected to see significant CAGR growth over the coming years, at 11.5%.
The report is forecasted from 2019-2027.
The base year of this report is 2021.
Ayo (Novalogy), Chrono Eyewear BV, Inteliclinic, Litebook Co. Ltd., Lucimed S.A., Lumie, Nature Bright, Northern Light Technologies, Propeg, Re-Time Pty Ltd. are some of the major players in the global market.
