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 growth of the market is primarily driven by the increasing air travelers across the globe. Over the past decade, a sudden rise in the number of the people travelling 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 across 7.0 billion mark by 2035. This growth is attributed to the increasing disposable income of the population in the developing region such as India and China. Furthermore, changing lifestyle along with decline in the price of the airfares is also encouraging air travelling.
The advancement in the design and technology of the jet lag devices is also acting as a major force propelling the market growth. The supportive government initiatives and policies to spread awareness about the jet lag and its impact is also one of the prominent factors augmenting the demand for the jet lag devices. However, there are several factors that are hindering the growth of the market. Presence of the alternative and substitute solutions such as pills and drugs acts as a major inhibitor in the market growth. Moreover, the relatively higher price of jet lag devices as compared to the other alternate is acting as a major constraint in the market growth.
Market Synopsis
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Blue Light Devices is Estimated to Grow Significantly During the Forecast Period
The jet lag therapy device market is categorized based on the type into white light device, blue light device and others. The white light devices accounted for more than 45% share in the overall jet lag therapy devices market in 2018. The growth of the market is attributed to the wide spread adoption among the business class travelers. On the other hand, the blue light devices are estimated to grow significantly during the forecast period.
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North America is Leading the Jet Lag Therapy Device Market
North America led the jet lag therapy device market with 35% share in the revenue in 2018. The growth of the market is attributed to large number of the air travelers in the region. It is justified by the fact that 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 the jet lag therapy devices in the region.
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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 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 global jet lag therapy device market based on type, application and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| 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)
|
Key questions answered in this report
- What was the market size of jet lag therapy device in 2018 and forecast up to 2027?
- Which is the largest regional market for jet lag therapy device?
- What are the major trends followed in jet lag therapy device market across different regions?
- Who are the key companies in the jet lag therapy device market?
- What are the key strategies adopted by the leading jet lag therapy device companies in market?
Unique data points of this report
- Statistics on jet lag therapy device and spending worldwide
- Recent trends across different regions in terms of adoption of jet lag therapy device 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)
