Photodynamic Therapy (PDT) Market| Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast,

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. Factors such as physical ina

Originally published on Technavio:Photodynamic Therapy (PDT) Market Analysis Across North America, Europe, Asia, and Rest of World (ROW) - Covering US, UK, Germany, France, China - Size and Forecast 2023-2027

Forecast for Photodynamic Therapy (PDT) Market 2023-2027
The Global Photodynamic Therapy Market size is poised to experience an increase of USD 2.05 billion, at a Compound Annual Growth Rate (CAGR) of 8.22% between 2022 and 2027.

Photodynamic therapy has gained traction as a growing, popular, and reliable cancer treatment method. The market is notably driven by the imperative of early cancer detection. Lifestyle factors such as physical inactivity, excessive tobacco, and alcohol consumption contribute to cancers in organs such as the lung, stomach, kidney, head, neck, and larynx. As cancer cases rise, the reliance on photodynamic therapy sees a significant upswing. This demand, in turn, motivates manufacturers to develop advanced iterations of products throughout the forecast period. The convergence of these factors is anticipated to propel market growth in the forecast period.

Significant Trends
Increased investment in Research and Development (RD) and technological advancements emerge as key drivers for market growth. Market players and manufacturers have heightened their RD investments to craft novel therapies for cancer treatment, contributing to the development of new photodynamic therapies. A recent dermatology and therapy review underscores that photodynamic therapy, when applied to skin conditions like actinic keratosis (AK), offers reduced toxicity for patients.

Major Challenges
The high cost of treatment stands out as a significant challenge impeding market growth. The extended treatment duration and the associated costs weigh heavily on patients. Therapies, particularly targeted ones like photodynamic therapy, are expensive. Targeted therapy often involves biologics, which demand sophisticated and advanced manufacturing processes, leading to elevated production costs and consequently higher prices.

The production of monoclonal antibodies, a part of targeted therapy, involves intricate and costly procedures, ranging from immunization and serum screening to splenocyte fusion and single-cell cloning. While manufacturers and healthcare providers financially support patients undergoing photodynamic therapies, the high cost remains a major impediment to market growth.
Application Analysis
The cancer segment is expected to witness significant market share growth during the forecast period. Photodynamic Therapy (PDT), designed to eliminate cancerous and precancerous cells through light activation, represents a two-stage treatment. It combines light energy with a drug known as a photosensitizer. Cancer, characterized by uncontrollable cell growth spreading to other body parts due to DNA changes or mutations, presents a substantial risk. Factors such as age, lifestyle habits, family history, or inherited conditions, and prolonged chronic diseases increase the risk of cancer.

Photodynamic Therapy Market Size

For an overview of the market contribution by various segments, view a PDF Sample.

The cancer segment, valued at USD 1.11 billion in 2017, witnesses widespread adoption of photodynamic therapy as a global treatment. This therapy primarily deploys a light-activated drug, or photosensitizer, to kill cancer cells. A laser or light-emitting diode (LED) serves as the light source. When cancer cells containing photosensitizers and drugs are exposed to light, oxygen radicals produced from the photosensitizers exterminate the cancer cells at specific wavelengths. This therapeutic approach is also effective in treating tumor cells, playing a pivotal role in driving market growth during the forecast period.

Product Analysis
Photodynamic drugs are predominantly utilized in photodynamic treatment, wherein the photosensitizer agent is activated by light to eliminate cancer cells. The primary function of a photosensitizer agent is to transfer energy into another molecule directly or through a chemical reaction while absorbing light. Commonly used photosensitizing drugs include amiodarone, chlorpromazine, nalidixic acid, and doxycycline. The increasing focus on novel anti-cancer therapies, including immunotherapy, is expected to drive demand for the photosensitizer drug segment. Consequently, these factors are poised to propel the growth of the photosensitizer drug segment in the global photodynamic therapy market.

Regional Analysis
Photodynamic Therapy Market Share by Geography

For deeper insights into regional market share, download the PDF sample now.

North America is estimated to contribute 36% to global market growth during the forecast period. Technavio’s analysts provide detailed insights into regional trends and drivers shaping the market in the forecast period. The PDT market in North America is on the rise due to the increasing incidence of skin diseases and cancer. Factors such as growing awareness of PDT benefits, the surge in the adoption of face photodynamic therapy, and photodynamic acne therapy drive market growth.

Key Photodynamic Therapy Market Players
Market players are employing various strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches to enhance their market presence. The market trends and analysis report includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Qualitative and quantitative analysis of companies has been conducted to help clients understand the broader business environment and the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Customer Landscape
The market growth analysis 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 market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

To Learn deeper into this report View Sample PDF
The Photodynamic Therapy (PDT) market emerges as a promising avenue for treating various skin disorders and malignancies, offering minimally invasive procedures with reduced side effects. Recognized by organizations such as the FDA and the World Health Organization (WHO), PDT utilizes light activation of photosensitizing agents to target malignant tumors like breast cancer, lung cancer, and T-cell lymphoma. This therapy addresses the financial burden of cancer treatments and aligns with the efforts of cancer registries and national health boards such as the National Board of Health and Welfare. As it proves its efficacy in combating UV light-induced damage, PDT continues to gain prominence in the medical community.

For more information please contact.

Technavio Research

Jesse Maida

Media Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/


Anveshana

256 Blog posts

Comments