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The Global Photodynamic Therapy Market size is estimated to grow by USD 2.05 billion at a CAGR of 8.22% between 2022 and 2027.
Photodynamic therapy is a growing, popular, and reliable method to treat cancer. Early detection of cancer is driving the market growth. Factors such as physical inactivity and excessive tobacco and alcohol consumption can cause lung, stomach, kidney, head, neck, and larynx cancer. As there is a rise in cancer cases, the dependence on photodynamic therapy is increasing significantly. This demand also encourages manufacturers to develop advanced and upgraded versions of products during the forecast period. Hence, the contribution of all these factors is expected to help the growth of the market during the forecast period.
Study Period |
2023-2027 |
Base Year For Estimation |
2022 |
CAGR |
8.22% |
Historic period |
2017-2021 |
Fastest Growing Region |
North America at 36% |
List of Charts and Table |
175 |
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In company offerings, we provide an in-depth analysis of 20 top company profiles, along with other valuable insights comprising of:
• Company Overviews
• Key News and Updates
• Products and Services
• Market-leading Offerings
• Focused Segments
The following are the leading companies in the Photodynamic Therapy Market. These companies are adopting various strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to strengthen their market presence. Collectively, they hold the largest market share and set industry trends. The market research and growth report also provides detailed analyses of the competitive landscape and information about 20 key market companies, including:
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Our segment comprises two primary segments, each with its respective sub-segments for further detailed analysis within specific national markets. Furthermore, our market coverage extends across geographic regions, with comprehensive breakdowns to provide in-depth insights.
Based upon Application segment, the cancer sub-segment shows the significant growth during the forecast period.
PDT designed to destroy cancerous and precancerous cells after light activation is designed as a two-stage treatment that combines light energy with a drug (photosensitizer). Cancer is a disease in which the body cells grow uncontrollably and spread to other body parts. It is caused due to changes or mutations to the DNA within the cells. Factors such as age, lifestyle habits, family history or inherited family condition, and prolonged chronic diseases can address raise the risk of occurrence of cancer.
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The cancer segment was valued at USD 1.11 billion in 2017. Photodynamic therapy is a commonly used therapy in treating cancer globally. This therapy mainly uses a drug activated by the light agent which is called a photosensitizer which is mainly used to kill cancer cells. A laser or light-emitting diode (LED) is used as a source of light. When the cancer cells that have absorbed photosensitizers and drugs are exposed to light. The oxygen radical produced from the photosensitizers, when exposed to light, kills the cancer cells with the specific wavelength. It is also useful in treating tumor cells. Hence, the role of PDT in treating cancer drives the growth of the market during the forecast period.
North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Futhermore due to the increase in the incidence of skin diseases and cancer, the market for PDT is rising in this region. Rising awareness of the benefits of photodynamic therapy, along with greater adoption of facial and acne photodynamic therapy, is fueling the global market. In North America, the market expansion can be attributed to four key factors: the rising incidence of cancers, the availability of favorable reimbursement schemes, government initiatives, and approvals of new cancer drugs.
The increasing cancer rates in countries like the US and Canada significantly contribute to this growth. For example, approximately 14,100 women in the US are expected to be diagnosed with cervical cancer in 2022, with over 4,280 deaths despite screening and treatment. Similarly, the Centers for Disease Control and Prevention (CDC) estimate that ovarian cancer causes more deaths than any other type of gynecological cancer. The American Cancer Society's 2022 report indicates that ovarian cancer is the fifth leading cause of death, with an estimated 12,810 deaths in the US.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the significant trends and challenges. The photodynamic therapy market is gaining traction due to its effectiveness in treating various types of cancer and skin conditions. This advanced therapeutics approach utilizes a combination of light exposure and photosensitizer drugs to target and destroy cancer cells while minimizing damage to surrounding tissues. Photodynamic therapy (PDT) has proven particularly effective in skin cancer treatment, offering a minimally invasive alternative to traditional methods like chemotherapy.Key applications of PDT include photorejuvenation, phototherapy treatment, and photodiagnosis. The photodynamic therapy industry is evolving with significant advancements in photosens and fluorescence techniques, enhancing the precision and outcomes of cancer treatment. Clinical and diagnosis research highlights the advantages of PDT, such as reduced phototoxicity and photobleaching compared to conventional therapies.
An increase in R&D and advances in technology is the key driver for the growth of the market. Manufacturers and market players have raised their investments in R&D to develop novel therapies for cancer treatment. These approaches are expected to support the development of new photodynamic therapy. A recently published review in dermatology and therapy proves that photodynamic therapy is offered with reduced toxicity for patients with skin conditions such as actinic keratosis (AK).
Moreover, many advances in technology happened during the post-genomic era to detect cancer cells without invasive and expensive surgery. These advances result in the development of technologies such as DNA sequencing, innovative biomarker discovery, drug delivery methods, and capillary electrophoresis. These technologies also help physicians to detect and quantify specific DNA or RNA sequences and proteins for early prediction and treatment of diseases. In the area of oncology, the use of these technologies has helped physicians obtain a better understanding of the pathogenesis of cancer. These trends are expected to support the market growth and trends during the forecast period.
The high cost of treatment is the major challenge to the growth of the market. Patients' financial burden and overall treatment costs are rising as a result of cancers' long-term treatment requirements. In addition to the lengthy duration of the treatment, the utilized therapies, particularly targeted therapies like photodynamic therapy, are extremely costly. Biologics are included in targeted therapy. Their development and production require extremely sophisticated and advanced procedures, which raises their manufacturing cost and, consequently, sales price.
Moreover, the cost of these treatments is high because of the advanced procedures involved in developing monoclonal antibodies. companies required high-cost to manufacture a monoclonal antibody. It also involves several processes, from immunization and serum screening to splenocyte fusion and single-cell cloning. These processes require sophisticated research procedures and advanced equipment which are expensive. However manufacturers and healthcare providers financially support patients undergoing photodynamic therapies, and their high cost is a major challenge that will impede the market growth during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
The Photodynamic Therapy (PDT) market has emerged as a promising avenue in treating various skin disorders and malignancies, offering minimally invasive procedures with reduced side effects. Recognized by organizations like the FDA and the World Health Organization (WHO), PDT utilizes light theraphy and light activation of photosensitizing agents to target malignant tumors, including breast cancer, lung cancer, and T-cell lymphoma. This therapy not only addresses the financial burden of cancer treatments but also aligns with the efforts of cancer registries and national health boards such as the National Board of Health and Welfare. With its efficacy in combating UV light-induced damage, PDT continues to gain prominence in the medical community.Photodynamic therapy (PDT) is highly effective for phototherapy and photorejuvenation, addressing both therapeutic and cosmetic needs. Its use in photodiagnosis enhances the diagnosis and treatment of various skin conditions and cancers. PDT's role in photomedicine is increasingly recognized in hospitals and clinical settings due to its minimally invasive nature and reduced side effects compared to traditional therapies.
Key benefits of PDT include minimizing phototoxicity and photobleaching, which are common issues with other light-based treatments. The use of fluorescence techniques in PDT allows for better visualization and targeting of cancerous tissues, further enhancing its efficacy.The rising prevalence of skin cancer and the ongoing advancements in photodynamic therapy highlight its growing importance in the clinical landscape. As photomedicine continues to evolve, the adoption of PDT in hospitals and specialized treatment centers is expected to increase, providing patients with effective and safe treatment options.
The rising prevalence of cancer has increased the need for innovative treatments in hospitals, clinics, and cancer treatment centers. PDT's potential extends to various dermatology applications, benefiting individuals seeking effective and safe therapies. As the therapy devices market expands, the integration of photomedicine and photodynamic therapy continues to show promise, offering new hope for people battling cancer photodynamic and other serious conditions.
Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.22% |
Market growth 2023-2027 |
USD 2.05 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.45 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 36% |
Key countries |
US, UK, Germany, France, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bausch Health Co. Inc., Biofrontera AG, BIOLASE Inc., biolitec AG, Galderma SA, II VI Inc., IRIDEX Corp., Lotus Global Group Inc., LUMIBIRD SA, Lutronic Inc, Modulight Inc., Photocure ASA, Pinnacle Biologics Inc., Quanta Systems Spa, Soligenix Inc., SpectraCure AB, Sun Pharmaceutical Industries Ltd., SUS Advancing Technology Co. Ltd., Theralase Technologies Inc., and Eufoton srl |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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