Photodynamic Therapy Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Photodynamic Therapy Market By Product (Photodynamic Therapy Devices, Photosensitizer Drugs) Indication (Cancer, Actinic Keratosis, Acne, Psoriasis, Others) End user (Hospitals, Cancer Treatment Centers, Cosmetic and Dermatology Clinics and Others) and Geography

 

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Report

Description

Photodynamic Therapy Market size was valued at USD 3,387.5 million in 2021, growing at a CAGR of 14.0% during 2022–2028. Photodynamic Therapy (PDT) is a form of phototherapy that combines photosensitizer drugs with light and oxygen to produce cytotoxic reactive oxygen species (ROS) and induce tumor regression. Photosensitizers (PS) are recognised to play a vital part in photodynamic treatments because of their biological effectiveness, while laser and oxygen offer sufficient and adaptable delivery for disease therapy. Many photodynamic therapies have been carefully researched and approved by regulatory authorities. A number of photosensitizers have received clinical use approval or are presently undergoing clinical testing. According to the World Health Organization report 2020, Cancer is the main cause of mortality globally, accounting for up to 10 million fatalities, or close to one in every six lives., lung, Breast, colon, prostate, and rectum cancers are the most prevalent types of cancer. PDT has been demonstrated to be beneficial in treating breast cancer that is resistant to many drugs. According to a report by the Skin Care Foundation, skin cancer is the most common cancer in the US and worldwide. One in five Americans may have skin cancer by the time they are 70 years old. In the United States, skin cancer causes the death of more than two individuals every hour. The chance of developing melanoma is doubled if someone had five or more sunburns. According to estimates, the yearly cost of treating skin cancers in the United States is $8.1 billion, of which $3.3 billion goes toward melanoma and $4.8 billion goes toward nonmelanoma skin cancers. Between 1994 and 2014, the U.S. had a 77 percent rise in the detection and treatment of nonmelanoma skin malignancies, which may have boosted the market for photodynamic therapy. Increase in cancer prevalence, continuous research projects, acceptance of cutting-edge technology, an increase in government support and initiatives, and high healthcare costs will boost the market of photodynamic therapy. Side effects of the photodynamic therapy and high cost of product development and treatment can hinder the market growth of photodynamic therapy.

 

The Recent Photodynamic Therapy Market Developments:

In April 2021, Lumeda Inc., which is a technology startup, is announced the conclusion of its Series A funding. The company is developing PDT as intraoperative adjuvant therapy for patients. With the help of this funding, Lumeda will continue to develop their ground-breaking PDT system, which blends AI with specialized hardware and software.

In May 2021, Modulight Developed heat shock protein 90-targeted PDT for inflammatory breast cancer, a clinical trial of HS201-PDT will soon be initiated at Duke University for breast cancer patients.

Photodynamic Therapy Market

MARKET SUMMARY
-
14.0% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 14.0%
  • Largest Market– North America
  • Fastest Growing Market–  North America

Photodynamic Therapy Market

  • The global photodynamic therapy market report gives comprehensive outlook on bovine respiratory disease treatment across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The photodynamic therapy  market report gives historical, current, and future market sizes (US$ Mn) on the basis of product, indication, end user, and geography.
Key Players
  • Modulight Corporation,
  • Quest PharmaTech, Inc.,
  • Theralase Technologies Inc.,
  • SUS Advancing Technology Co., Ltd.,
  • Bausch Health Companies Inc.
Photodynamic Therapy Market Dynamics

Rise in the prevalence of cancer and skin disorders Worldwide All around the world, According to the World Health Organization report 2020, Cancer is the main cause of mortality globally, accounting for up to 10 million fatalities, or close to one in every six lives., lung, Breast, colon, prostate, and rectum cancers are the most prevalent types of cancer. PDT has been demonstrated to be beneficial in treating breast cancer that is resistant to many drugs. As an anticancer therapy, Photodynamic therapy (PDT) is a clinically approved modality and has gained extensive attention owing to its minimal invasiveness, precise controllability, and high spatiotemporal accuracy with minimum side effects, One of the most frequently used PSs in the clinic is Photofrin (porfimer sodium). The first approval of PDT with Photofrin was obtained in Canada in 1993 for the treatment of bladder cancer. The American Cancer Society predicts that there will be overall 608,570 cancer-related deaths in 2021, with males expected to have high mortality rate than women (319,420 deaths vs 289,150 deaths). According to estimates, malignancy of the lung and bronchus will account for 22% of all cancer-related deaths in males in 2021, followed by prostate cancer (11%), colon and rectum cancer (9%), pancreatic cancer (8%), and liver and intrahepatic bile duct cancer (6%). This would likely encourage market expansion for Photodynamic Therapy over the course of the forecast period.


North-America Got Significant Share

Photodynamic Therapy Market

On the basis of regions, the market share is divided into North America, Asia-pacific, Europe, and the Middle East, and the African region. North America holds the major market share in 2021 and is expected to dominate the global Photodynamic Therapy Market in the upcoming years due to increase in cancer occurrence, continuous research projects, an increase in government support and initiatives, and high healthcare costs. Additionally, the region's market revenue growth is supported by the presence of major industry players like Bausch Health Companies Inc. and others. High prevalence of acne in the U.S. which affects nearly 50 million individuals each year, of which more than 15% are women demonstrates demand for advanced skin treatment. This is anticipated to influence photodynamic therapy market size in the region. Rising awareness among population related to treatment of actinic keratosis and an increase in the prevalence of actinic keratosis are the key factor encouraging the growth of the actinic keratosis treatment market in the Asia-Pacific region.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Photodynamic Therapy Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The size of global photodynamic therapy market was USD 3,387.5 million in 2021.

The global photodynamic therapy market value is expected to have a CAGR of 14.0% during the forecast period 2022–2028.

Increase in prevalence of cancer and skin disorders treatment can drive the photodynamic therapy market growth.


Report

Company Profile

  • Galderma Laboratories, L.P.,
  •  Biofrontera AG,
  •  Excel Lasers Limited,
  •  LUMIBIRD group (Quantel Medical),
  •  Modulight Corporation,
  •  Quest PharmaTech, Inc.,
  •  Theralase Technologies Inc.,
  •  SUS Advancing Technology Co., Ltd.,
  •  Hologic Inc.,
  • Bausch Health Companies Inc.

Description

Photodynamic Therapy Market size was valued at USD 3,387.5 million in 2021, growing at a CAGR of 14.0% during 2022–2028. Photodynamic Therapy (PDT) is a form of phototherapy that combines photosensitizer drugs with light and oxygen to produce cytotoxic reactive oxygen species (ROS) and induce tumor regression. Photosensitizers (PS) are recognised to play a vital part in photodynamic treatments because of their biological effectiveness, while laser and oxygen offer sufficient and adaptable delivery for disease therapy. Many photodynamic therapies have been carefully researched and approved by regulatory authorities. A number of photosensitizers have received clinical use approval or are presently undergoing clinical testing. According to the World Health Organization report 2020, Cancer is the main cause of mortality globally, accounting for up to 10 million fatalities, or close to one in every six lives., lung, Breast, colon, prostate, and rectum cancers are the most prevalent types of cancer. PDT has been demonstrated to be beneficial in treating breast cancer that is resistant to many drugs. According to a report by the Skin Care Foundation, skin cancer is the most common cancer in the US and worldwide. One in five Americans may have skin cancer by the time they are 70 years old. In the United States, skin cancer causes the death of more than two individuals every hour. The chance of developing melanoma is doubled if someone had five or more sunburns. According to estimates, the yearly cost of treating skin cancers in the United States is $8.1 billion, of which $3.3 billion goes toward melanoma and $4.8 billion goes toward nonmelanoma skin cancers. Between 1994 and 2014, the U.S. had a 77 percent rise in the detection and treatment of nonmelanoma skin malignancies, which may have boosted the market for photodynamic therapy. Increase in cancer prevalence, continuous research projects, acceptance of cutting-edge technology, an increase in government support and initiatives, and high healthcare costs will boost the market of photodynamic therapy. Side effects of the photodynamic therapy and high cost of product development and treatment can hinder the market growth of photodynamic therapy.

 

The Recent Photodynamic Therapy Market Developments:

In April 2021, Lumeda Inc., which is a technology startup, is announced the conclusion of its Series A funding. The company is developing PDT as intraoperative adjuvant therapy for patients. With the help of this funding, Lumeda will continue to develop their ground-breaking PDT system, which blends AI with specialized hardware and software.

In May 2021, Modulight Developed heat shock protein 90-targeted PDT for inflammatory breast cancer, a clinical trial of HS201-PDT will soon be initiated at Duke University for breast cancer patients.

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