Photodynamic Therapy Market by Product (Drugs and Devices), Application (Cancer, Actinic Keratosis, Psoriasis, and Acne), End User (Hospitals, Cosmetics & Dermatology Clinics, and Cancer Treatment Centers) – Analysis & Forecast 2019-2030.
Report ID : 260 | Published Date : Jun 2020 | Pages : 180 | Region : Global | Report Code : MD-74
Photodynamic Therapy Market Overview and Introduction
Photodynamic Therapy (PDT) is a form of phototherapy involving light and a photosensitizing chemical substance, used in conjunction with molecular oxygen to elicit the death of malign cancerous cells. Photodynamic therapy is also commonly referred to as photo-chemotherapy, photo radiation therapy, or phototherapy. It is used clinically to treat a wide range of medical conditions including actinic keratosis, psoriasis, acne, malignant cancers including head & neck, lung, bladder & particular skin, etc.
The global photodynamic therapy market is mainly driven by the increasing prevalence of skin disorders and cancer, rapidly growing biopharmaceutical industry in developing economies and growing awareness regarding benefits delivered by photodynamic therapy. Moreover, the approval of new biologics for photodynamic therapy also plays a pivotal role in contributing to market growth globally. However, risks and side effects associated with the therapy is likely to restrain market growth to a certain extent.
The global photodynamic therapy market can be segmented into product, application, end-user, and regions.
Photodynamic Therapy Market by Product
Based on product, the market can be segmented into drugs and devices. The devices segment is expected to witness the highest CAGR during the forecast period. The segment growth can be attributed to technological advancements coupled with growing awareness about photodynamic therapy benefits.
Photodynamic Therapy Market by Application
Based on the application, the market can be segmented into cancer, actinic keratosis, psoriasis, acne, and others. The cancer application segment is expected to dominate the photodynamic therapy market during the forecast period owing to increasing cancer cases coupled with the growing adoption of photodynamic therapy for treatment. Moreover, photodynamic therapy is employed along with immunotherapy in Photoimmunotherapy treatment for tumor suppression and stimulation of the immune system.
Photodynamic Therapy Market by End-User
Based on end-user, the market can be segmented into hospitals, cosmetics & dermatology clinics, cancer treatment centers, and others. The hospitals segment is expected to dominate the photodynamic therapy market during the forecast period owing to the easy availability of Photodynamic Therapy (PDT) and vascular lasers in hospitals.
Photodynamic Therapy Market by Region
Based on region, the global photodynamic therapy market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the photodynamic therapy market, followed by Asia Pacific. The growth in North America can be attributed to the better reimbursement plans and an advanced healthcare infrastructure coupled with the presence of key market players in the region.
Photodynamic Therapy Market Prominent Players
Some of the prominent players in the photodynamic therapy market include Sun Pharmaceutical Industries Ltd., BIOFRONTERA AG, Theralase Technologies Inc., LUMIBIRD, Quest PharmaTech Inc., Modulight, Inc., Galderma, Suslaser.com, Biolitec AG, and Bausch & Lomb among others