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 2023 to 2030. 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 jet lag and its impact is also one of the prominent factors augmenting the demand for 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.

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 2020. The growth of the market is attributed to the widespread adoption among business class travelers. On the other hand, the 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 35% share in the revenue in 2020. 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.

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 study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Jet Lag Therapy Device market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Jet Lag Therapy Device market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Jet Lag Therapy Device market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Jet Lag Therapy Device market?
• Which is the largest regional market for Jet Lag Therapy Device market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Jet Lag Therapy Device market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Jet Lag Therapy Device market worldwide?