Photodynamic Therapy Market Top Key Players, Global Trend, Opportunities & Forecast 2020 – 2028
The Global Photodynamic Therapy (PDT) Market size is expected to reach USD 2,385.5 Million at a revenue CAGR of 8.3% in 2028, according to latest analysis by Emergen Research. Rising cancer prevalence can be linked to consistent market revenue increase. Due to an increase in the prevalence of numerous skin conditions such actinic keratosis, psoriasis, rosacea, acne, and others, the global market for photodynamic therapy is growing. The most efficient form of treatment, photodynamic therapy, is frequently chosen over more traditional ones. The high prevalence of cancer cases worldwide and increased knowledge of early cancer identification and treatment are the main causes of the rise. Furthermore, during the projection period, market expansion is anticipated to be fueled by improvements in device technology paired with increased R&D on pharmaceuticals used in photodynamic treatment.
Actinic keratosis, acne, psoriasis, age-related macular degeneration, cancer, and other disorders are all treated with photodynamic therapy. PDT uses specialised medications or photosensitizing compounds in conjunction with light energy to treat localised disorders. PDT therapy has enormous potential since it directly treats injured or damaged cells, generating activated O2 that only destroys the targeted cells. It is advised as a treatment for a number of illnesses because it shields healthy cells from harm without leaving scars, as is frequently the case with the treatment of precancer and skin cancer. PDT is a very effective treatment for cancer that has spread to the body’s edges or the surface, but it is also mentioned that PDT has positive potential for treating Actinic keratoses, a condition that is characterised by potentially pre-skin lesions on the body’s surface brought on by too much sun exposure.
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However, photodynamic treatment side effects such heightened susceptibility to ultraviolet light from the sun and bright lights are impeding market expansion. These reactions, which can be brought on by photodynamic therapy light, typically involve a burning or tingling sensation as well as redness on the skin where the medication has been applied. Additionally, following treatment, the patient must exercise caution and avoid exposing the treated areas to light for a period of time, especially the face and scalp.
Some Key Highlights From the Report
- On 8 April 2021, Lumeda Inc., which is a technology business that is developing PDT as an intraoperative adjuvant treatment for patients, announced completion of its Series A fundraising. Lumeda’s ground-breaking PDT system, which blends Artificial Intelligence (AI) with specialised software and hardware, will be further improved with the help of these funds. To improve physician control of PDT equipment during treatment and improve cancer patient results, the AI application automates and digitises PDT light dispersion.
- The photosensitizers pharmaceuticals section accounted for a notably large revenue share in 2021, when broken down by product type. Reactive oxygen species (ROS) are produced when photosensitizer medications are activated by light sources like LEDs or lasers, which can kill mammalian or microbial cells. In photodynamic therapy, photosensitizers are crucial because they cause the production of reactive oxygen species in response to light exposure. PDT’s dual-specificity is based on the delivery of targeted radiation and the deposition of photosensitizers in targeted tissues. PDT uses thoroughly studied tetrapyrrole structures including porphyrins, chlorins, bacteriochlorins, and phthalocyanines as novel prospective photosensitizer medications with suitable functionalization; several of these PS pharmaceuticals have already been approved for use in clinical trials. These are the main variables influencing this segment’s revenue growth.
- The revenue for the psoriasis category, broken down by application, is anticipated to grow steadily during the projection period. By reducing the itching and pain associated with the condition, photodynamic therapy is regarded as an effective strategy in the treatment of psoriasis. Use of ultraviolet (UV) light sources, which are helpful in lowering inflammation and inhibiting the production of skin cells, is a common component of this therapy. Additionally, through affecting DNA activity, this limits the proliferation of skin cells.
- The Asia Pacific region’s photodynamic therapy market had the highest revenue share in 2021, which can be attributable to rising acceptance of cutting-edge technologies, active government efforts and support, and expanding improvements in the country’s healthcare infrastructure. The increasing use of PDT therapies, which is fueling the market’s revenue growth, can also be ascribed to the region’s rising rates of acne and skin issues as well as to significant advancements in photodynamic therapy.
- Some major companies in the market report include Biofrontera AG, LUMIBIRD, Bausch Health Companies Inc., Modulight Corporation, SUS Advancing Technology Co., Ltd., Theralase Technologies Inc., Galderma Laboratories LP, Sun Pharmaceutical Industries Ltd., Hologic Inc., and Quest PharmaTech Inc.
Emergen Research has segmented the global photodynamic therapy market based on product type, application, end-use, and region:
- Product Type Outlook (Revenue, USD Million; 2018–2028)
- Photodynamic Therapy Devices
- Photosensitizer Drugs
- Disease Outlook (Revenue, USD Million; 2018–2028)
- Actinic Keratosis
- Application Outlook (Revenue, USD Million; 2018–2028)
- Specialty Clinics
- Cancer Treatment Centers
- Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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