Photodynamic therapy Market

Photodynamic therapy Market Highlights

The global Photodynamic therapy market is expected to cross a market size of USD 5.3 Billion by the end of 2033. The market size was valued at USD 2.3 Billion in 2023 and is expected to expand at a CAGR of 8.1% between 2024-2033.

• Over the mid-term, the rising occurrence of cancer is the primary factor anticipated to drive the global Photodynamic therapy market.
• Expensive treatment costs are a major factor to challenge the market growth.
• The North America photodynamic therapy market is projected to dominate the global market.

Photodynamic therapy Market Outlook

The medical treatment that uses photosensitizers is known as photodynamic therapy (PDT). This light-sensitive compounds are usually activated by specific wavelengths of light. Once activate, this forms a type of oxygen that is used to destroy the nearby cells. Photodynamic therapy is primarily used for the treatment of cancer and precancerous conditions. The three key components of PDT are photosensitizer, light source, and oxygen.

According to our experts at KD Market Insights, one of the primary factors anticipated to drive the growth of the global photodynamic therapy market is the growing incidence of various cancers, such as skin cancer, esophageal cancer, and non-small cell lung cancer. The surge in prevalence of these cancer types is driving the demand for effective treatment options, such as, photodynamic therapy. According to the World Health Organization (WHO), about 20 million new cases of cancer were being registered in the year 2022, while in the same year, cancer-related deaths registered to 9.7 million. As cancer rates continue to rise globally, the need for innovative therapies, such as PDT, would grow, which in turn, is poised to contribute to the market growth. Galderma Laboratories, L.P., Biofrontera AG., Excel Lasers Limited are some of the significant parties in the global market for Photodynamic therapy.

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Photodynamic therapy Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global Photodynamic therapy market are:

• Rising incidences of dermatological disorders: One another factor predicted to contribute to the market growth of PDT is the increase in prevalence of dermatological conditions, such as actinic keratosis and acne. Over 40 million Americans, according to the statistics by the American Academy of Dermatology, suffered from a condition known as actinic keratosis, that resulted in skin cancer if left untreated. As the prevalence of dermatological disorders increases, so would be the demand for photodynamic therapy, thereby contributing to the market growth.
• Surge in Technological Advancements in Photodynamic Therapy: Recently, the photodynamic therapy has undergone several new innovations, such as the development of new photosensitizers and light delivery systems that are enhancing the efficacy and safety of treatments. Moreover, targeted photosensitizers and improved laser devices are helping in expanding the therapeutic applications of PDT. Hence, these technological advancements in the field of photodynamic therapy is projected to contribute to the market growth in the coming years.

Which Probable Factors Could Hamper the Growing Photodynamic therapy Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of Photodynamic therapy are:

• Expensive treatment costs: The cost of photodynamic therapy can be expensive, limiting its accessibility to patients. Expenses related to specialized equipment, photosensitizing agents, and the need for multiple treatment sessions contribute to the overall cost.
• Photosensitivity and Side Effects: One of the main side effects of PDT is photosensitivity, where treated areas become highly sensitive to light, requiring patients to avoid direct sunlight for a period following treatment. This can be inconvenient and uncomfortable for patients, potentially reducing the appeal of PDT.

How is the Global Photodynamic therapy Market Segmented?

Our experts at KD Market Insights have segmented the global Photodynamic therapy market research report as:

What are the Probable Factors Influencing the North America Photodynamic therapy Market Forecast?

The North America Photodynamic therapy market is majorly driven by the presence of a well-developed healthcare infrastructure that supports the adoption of advanced treatment, along with the fact that the region is a well-known hub for biomedical research and innovation. The government agencies, private companies, and academic institutions are massively contributing for the development of advanced components used for PDT, which is also promoting the application scope of PDT in the region.

As per our analysts at KD Market Insights, the following five players lead the North America Photodynamic therapy market growth:

• Pinnacle Biologics, Inc
• DUSA Pharmaceuticals, Inc
• Modulight, Inc.
• Biofrontera Inc
• Theralase Technologies Inc.

Which Key Players Top the Global Photodynamic therapy Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global Photodynamic therapy market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with Photodynamic therapy market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global Photodynamic therapy market share:

• Galderma Laboratories, L.P.
• Biofrontera AG.
• Excel Lasers Limited.
• LUMIBIRD Medical
• Modulight Corporation
• Quest PharmaTech, Inc.
• Theralase Technologies Inc.
• SUS Advancing Technology Co., Ltd

What are the Recent Developments Observed in the Photodynamic therapy Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global Photodynamic therapy market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, Biofrontera AG stated that it has achieved a significant milestone by introducing the Ameluzact PDT system to the US market. This system is designed for the treatment of actinic keratosis, offering a new solution to address this medical condition.

Further, Galderma Laboratories, L.P. stated that it has formed a strategic partnership with Photosonix Medical Inc. to collaboratively work on developing and bringing to market the VELAS laser system. This innovative system is intended for use with Galderma’s PDT product portfolio.

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Photodynamic therapy Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Type
      2. By Application
      3. By End User
      4. By Region
5. Market Segmentation by Type
   1. Photosensitizer Drugs
   2. Aminolevulinic Acid
   3. Porphyrin Derivatives
   4. Chlorines
   5. Devices
   6. Disposable Fiber Optic Light Delivery Devices (DFOLDD)
   7. Diode Laser
   8. Others
6. Market Segmentation by Application
   1. Cancer
   2. Actinic Keratosis
   3. Acne
   4. Psoriasis
   5. Other Appication
7. Market Segmentation by End User
   1. Hospitals
   2. Cosmetics & Dermatology Clinics
   3. Cancer Treatment Centers
   4. Others End user
8. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      5. South Korea
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      6. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3.               Market Analysis by Type, Application and End User
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Type, Application and End User
9. Competitive Landscape
   1. Market Share Analysis
   2. Company Profiles
      1. Galderma Laboratories, L.P.
      2. Biofrontera AG.
      3. Excel Lasers Limited.
      4. LUMIBIRD Medical
      5. Modulight Corporation
      6. Quest PharmaTech, Inc.
      7. Theralase Technologies Inc.
      8. SUS Advancing Technology Co., Ltd
10. Strategic Recommendations
11. Appendix
    1. List of Tables
    2. List of Figures
12. References