Photodynamic Therapy Market is expected to reach USD 1679.39 Million by 2025 with CAGR of 5.9% over the forecast period
Pune, Maharashtra, India, February 15 2021 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –:Photodynamic Therapy Market Overview, Component, Industry Revenue And Forecast To 2027
Increasing prevalence of skin disorders and skin associated cancer are expected contribute the growth of market.
Photodynamic Therapy Market is valued at USD 1124.29 Million in 2018 and expected to reach USD 1679.39 Million by 2025 with CAGR of 5.9% over the forecast period.
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Some major key players for Photodynamic Therapy market are Sun Pharmaceutical Industries Ltd., Hologic, Inc., Allergan Plc., Galderma SA, and Quest PharmaTech Inc., Biofrontera AG, among others.
The photodynamic therapy involves the phototherapy treatment drugs and light therapy devices. Photodynamic therapy devices use the high-intensity bright light which trigger the dormant photosensitizer drugs when they are injected into the patient body. Photodynamic therapy is cheaper, minimally painful and offers various advantages for cancer patients as it helps them to avoid chemotherapy or surgery. Photodynamic therapy plays a important role as the light therapy domain is rising significantly. Moreover, photodynamic therapy is proved to be advantageous over chemotherapy as it can be repeated several times in one particular area.
Market Segmentation –
By Product Type
Photosenitizer drugs Hematoporphyrin Derivative (HpD) Aminolevulinic Acid (ALA) benzoporphyrin derivatives texaphyrins chlorins dyes Devices Disposable fiber optic light delivery devices Diode lasers
Basal Cell Carcinoma Actinic Keratosis Other
North America (USA, Canada, Mexico)
Europe (UK, France, Germany, Russia, Rest of Europe)
Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific)
LAMEA, Latin America, Middle East, Africa
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North America is expected to dominate the Market.
North America accounted for largest share of around 35% to dominate the market. The presence of developed countries such as U.S., Canada and others are the major factors driving the growth of photodynamic therapy market. The increased prevalence of skin disorders and cancer are further expected to drive the growth of photodynamic therapy market. As per skin cancer foundation report, In the U.S., more than 9,500 people in the U.S. are diagnosed with skin cancer every day and it is expected that the number of new melanoma cases diagnosed in 2019 will increase by 7.7 percent. Europe is expected to account for the second largest revenue share due to the presence of advanced research and development facilities led to the development better treatment option. These treatments offer various advantages over conventional treatment and much more effective than those. Asia Pacific is expected to develop significantly over the forecast period. The presence of developing economies such as India, China and others coupled with increased awareness and developing healthcare infrastructure are expected to drive the growth of photodynamic therapy market in the near future. Latin America, Africa nd Middle East are expected to gain traction over the forecast period due to the increased awareness and developing healthcare facilities.
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