BioLight currently sells six red light therapy (RLT) devices ranging from small devices meant for oral care to red light panels that are 63 inches tall. The devices are composed of LEDs emitting both red and near-infrared (NIR) lights. The oral care RLT products are sold for $189 and $349, while the light panel prices range from $369 to $3,599. Each panel has between 12 and 700 LEDs, depending on the panel’s size. The different sizes can fit different use cases, budgets, and storage spaces.
One of BioLight’s main competitors is Joovv. Joovv offers red and NIR light panels with 12 to 900 LEDs, and prices ranging from $599 to $9,499. Joovv offers a larger selection of panel sizes, but its products are at least two times more expensive than BioLight’s products for a comparable amount of LEDs. The maximum light irradiance — the power of the LEDs per unit of surface area — of BioLight’s products generally seems slightly higher than that of Joovv’s products. This suggests BioLight’s products might be a bit higher quality. At a distance of 4 inches, Joovv’s products also create slightly stronger electric and magnetic fields (EMFs) than BioLight’s products. EMFs are a safety concern for some customers. However, Joovv’s EMFs are negligible compared to the emissions produced by other common household devices, such as hair dryers and clothing irons.
RLT panels can also be found on Amazon at cheaper prices than those offered by BioLight and Joovv. Hooga sells a 60-LED panel that’s similar to Joovv and BioLight products, with similar irradiance and EMF levels. Its design is not as refined or elegant as Joovv and BioLight’s designs. But it costs $169, which is $520 cheaper than BioLight’s equivalent device.
In addition to red light panels, BioLight sells skin cream designed to protect against the aging effects of ultraviolet light and to enhance the benefits of RLT. Although there is no scientific study showing that using a cream enhances the results of RLT, this cream may bring an additional revenue stream from customers and tap into a different demand. But its high price, from $85 to $105 (for the cannabidiol option), will likely limit customer adoption. Therefore, this product is a nice way to get additional revenue from the most price-insensitive RLT customers. But since BioLight currently doesn’t seem likely to advertise its cream to non-RLT customers, the product probably won’t help BioLight expand to a different market.
BioLight mostly differs from competitors by offering mid-level luxury and prices. Joovv is targeting price-insensitive customers, while options on Amazon address the most price-sensitive customers. BioLight is strategically situated in the middle, offering midrange prices. Aside from slight differences in design, BioLight’s products don’t seem especially distinguished.
BioLight has patents pending for its RLT devices and education. However, investors should keep in mind that the barriers to enter this market are very low, and new competitors can easily enter this small market. Therefore, unique branding will be key for the company’s success.