The Photodynamic Therapy by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Photodynamic Therapy, The photodynamic therapy market size has grown strongly in recent years. It will grow from $1.36 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to aging population pool, an increase in cancer prevalence, an increase in skin diseases, rising pollution rates, increased healthcare expenditure and growth in the number of healthcare facilities.
The photodynamic therapy market size is expected to see strong growth in the next few years. It will grow to $1.85 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to the rise in healthcare expenditure, insurance coverage for photodynamic therapy, high potential in emerging economies, increasing teenage population, increasing older population, increasing prevalence of cancer and chronic diseases and emergence of infectious diseases. Major trends in the forecast period include introduction of portable photodynamic therapy device that help in at-home dermatological pdt treatments, investing in artificial intelligence enabled pdt for improved treatment of patients, expanding product portfolio in cosmetic procedures, continue to invest in research and development, focus at providing photoimmunotherapy devices and expand portfolio to include photothermal therapy.
The rising prevalence of skin cancer is contributing to the growth of the photodynamic therapy market. Skin cancer is observed to be the most common cancer of all cancers. Melanoma contributes to only about 1% of skin cancers but causes a large number of skin cancer deaths. Photodynamic treatment (PDT) uses a combination of a light sensitizing medication and very intense light to destroy cancer cells. The doctor applies a light sensitizing chemical-containing lotion to the skin cancer and the surrounding area. According to the American Cancer Society, it is estimated that about 106,110 new melanomas will be diagnosed (about 62,260 in men and 43,850 in women) in the USA in 2021. Therefore, the increasing prevalence of skin cancer is expected to fuel the growth of the photodynamic therapy market in the coming years.
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The photodynamic therapy market covered in this report is segmented –
1) By Product: Drugs, Devices
2) By Application: Actinic Keratosis (AK), Cancer, Acne, Psoriasis, Other Applications
3) By End-User: Cosmetics And Dermatology Clinics, Hospitals, Cancer Treatment Centers, Other End-Users
Players in the photodynamic therapy market are increasingly focusing on clinical trials for PDT in combination with different drugs. For instance, in December 2021, Biofrontera Inc., a U.S.-based biopharmaceutical company, announced that Phase 1 research to assess the safety and tolerability of photodynamic therapy (PDT) for the treatment of actinic keratosis (AK) utilizing three tubes of Ameluz and the company's BF-RhodoLED XL lamp had enrolled its first participant. This therapy involves the administration of three tubes of Ameluz in conjunction with the brand-new BF-RhodoLED XL light for the treatment of mild-to-severe actinic keratosis (AK) on the face and scalp.
The photodynamic therapy market report table of contents includes:
1. Executive Summary
2. Photodynamic Therapy Market Characteristics
3. Photodynamic Therapy Market Trends And Strategies
4.Photodynamic Therapy Market analysis
5.Photodynamic Therapy Market Size And Growth
6. Photodynamic Therapy Segmentation
7. Photodynamic Therapy Regional And Country Analysis
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27. Photodynamic Therapy Competitive Landscape And Company Profiles
28. Photodynamic Therapy Key Mergers And Acquisitions
29.Photodynamic Therapy Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Galderma S.A.
- Bausch Health
- Lumenis Ltd.
- Sun Pharmaceutical Industries Ltd.
- Biofrontera, Modlight Inc.
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According to the report, the global photodynamic therapy market was valued at ~US$ 3 Bn in 2018, and is projected to expand at a CAGR of ~17% from 2019 to 2027.Read Report Overview - https://www.transparencymarketresearch.com/photodynamic-therapy-market.html Global Photodynamic Therapy Market: Key InsightsPhotodynamic therapy is a part of treatment that uses drugs and devices for the treatment of different chronic diseases such as cancer and malignant musculoskeletal tumors.Increase in the prevalence as well as incidence of cancer and skin diseases, growth in the number of surgeries, and approval of new biologics are major factors anticipated to drive the global photodynamic therapy market during the forecast period.According to the National Cancer Institute of the U.S., around 1,735,350 new cancer cases were diagnosed in the U.S. in 2018.
The USPTO granted a patent titled as ‘Metal-based Thiophene Photodynamic Compounds and their Use.’The photodynamic therapy market in Asia Pacific is expected to expand at a high CAGR of ~18%from 2019 to 2027, due to surge in the number of patients with psoriasis and acne, and rise in the demand for innovative cosmetic therapies in India, China, and South Korea.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=69615Rise in Prevalence of Skin Diseases to Drive Global Photodynamic Therapy MarketRise in the prevalence of skin diseases, worldwide, is projected to drive the global photodynamic therapy market during the forecast period.Acne is considered one of the most common skin conditions in the U.S., which affects over 50 millionpeople in the country every year.
Its prevalence is known to be higher among women, affecting over 15% of the total population of adult women.Psoriasis is known to affect over5 million people in the U.S. every year, with a higher rate of prevalence among people aged between 45 and 64 years.
This significant rise in the prevalence of skin diseases and the economic burden of these diseases generate high demand for photodynamic therapy, which is a cost-effective option.Request COVID Analysis on Photodynamic Therapy Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=69615Photosensitizers Drugs Dominate Global Photodynamic Therapy MarketIncrease in the number of clinical trials for the development of new photosensitizers, rise in the number of market players strengthening their research and development activities, and increase in expenditure on new drug development are various factors expected to drive the drugs segment during the forecast period.In September 2018, Health Canada approved the clinical trial application (CTA) filed by Theralase Technologies Inc., allowing clinical study evaluation of Theralase’s lead anti-cancer drug, i.e.
TLD-1433.Cancer the Most Prominent Application in Photodynamic Therapy MarketIn terms of application, the global photodynamic therapy market has been segmented into cancer, actinic keratosis (AK), psoriasis, acne, and others.
In October 2019, Theralase Technologies Inc. was granted a patent in Europe for its anti-cancer light-activated photodynamic compounds (PDCs).Request Customization on Photodynamic Therapy Market Report –https://www.transparencymarketresearch.com/sample/sample.php?flag=CR_id=69615Hospitals a Promising End User of Global Photodynamic Therapy MarketIn terms of end user, the global photodynamic therapy market has been categorized into hospitals, cosmetics & dermatology clinics, cancer treatment centers, and others.The cosmetics & dermatology clinics segment is likely to gain significant market share by 2027.
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