Dec 6, 2016: US Lighting Group, Inc., an American designer and manufacturer of patent-pending LED lighting and other technologies, is pleased to announce that it has launched a new business development initiative in the rapidly expanding light therapy market. The company plans to utilize its extensive proprietary LED lighting design and manufacturing expertise to develop, manufacture and market products aimed at both the home and commercial/medical light therapy markets.
Light therapy, also known as phototherapy, consists of exposure to daylight or to specific wavelengths of artificial light to treat various health/medical issues, including certain mood and sleep related disorders, such as Seasonal Affective Disorder (SAD) and jet lag, and some skin conditions, such as acne and psoriasis. Light therapy technologies are also utilized to assist in wound healing and in various anti-aging treatments.
The global light therapy market is forecast to grow above 4.5% CAGR from 2016 to 2024 and reach over USD $980 million by 2024. Increased adoption of “lightboxes” by patients and the medical community to treat SAD has accelerated the light therapy market growth.
“Designing and manufacturing proprietary ‘Made in the USA’ products for the light therapy market is another potential new revenue stream for the Company and a natural extension of USLG’s world-class LED lighting expertise,” stated Paul Spivak, founder and CEO of US Lighting Group. “Over the past decade, we have been on a quest to create the world’s longest lasting LED light bulbs, right here in America. USLG is now applying that vast knowledge to the area of light therapy to develop high-quality safe and effective products that work more efficiently, last longer, and cost less to operate.”
USLG’s strategy for rapid entry into the light therapy market may include the development and mass production of several new LED bulbs specifically designed for use in existing light therapy applications and the potential development of novel proprietary light therapy applications based on both new and existing USLG LED technologies. This strategy may include establishing joint ventures and exploring potential acquisitions of products and companies. The Company’s plans are in the early stage of implementation and accordingly, the Company has not entered into any preliminary or definitive agreements with third parties.