Photodynamic Therapy Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025-Increasing prevalence of skin disorders and cancer coupled with technological advancement is likely to grow the Photodynamic Therapy market.
Photodynamic Therapy Market is valued at USD 1124.29 Million in 2018 and expected to reach USD 1679.39 Million by 2025 with the CAGR of 5.9% over the forecast period.
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.
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Photodynamic Therapy Market report is segmented on product type, application and by regional & country level. Based upon product type, photodynamic therapy market is segmented into Photosenitizer drugs and devices. Based upon application, photodynamic therapy market is classified into actinic keratosis, basal cell carcinoma, and other.
The regions covered in this Photodynamic Therapy market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Photodynamic Therapy market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Photodynamic Therapy Market Reports–
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.
On 18 July 2019, Hologic, Inc. has announced a partnership with MagView, a leading mammography information solutions provider, to develop Unifi EQUIP, an automated solution that will facilitate compliance with the FDA’s Enhancing Quality Using the Inspection Program (EQUIP) guidance. The Unifi EQUIP solution will be available to customers as part of Hologic’s integrated Unifi product portfolio.
On 20 June 2019, Hologic, Inc., a global leader in women’s health, announced today that it has made a binding offer to acquire (directly or through an affiliate) SuperSonic Imagine, a France-based innovator in cart-based ultrasound products, and that it has entered into an exclusive negotiation agreement with the company and its main shareholders toward that end.
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Increasing prevalence of skin disorders and skin associated cancer are expected contribute the growth of photodynamic therapy market.
There are various factors which expected to drive the growth of photodynamic therapy market includes increased prevalence of skin disorders and skin related cancer such as basal cell carcinoma, actinic keratosis, psoriasis, and rosacea and various other conditions. As per American cancer society stats report, around 5.4 million basal and squamous cell skin cancers are diagnosed each year and around 8 out of 10 are basal cell cancers. Furthermore, increase in awareness among people of such conditions and its treatment is promoting the growth of photodynamic therapy market. Moreover, there are various technological advancement taking place coupled with various advantages over the conventional treatment which are further helps in the treatment of such skin conditions and propel the growth of photodynamic therapy market. Increased focus of manufacturers on the launch of phototherapy drug device combinations are expected to create numerous opportunities in the near future are expected to support the growth of photodynamic therapy market. However, high cost of medical devices and increase light sensitivity are expected to hamper the growth of photodynamic therapy market in the near future.
North America is expected to dominate the Photodynamic Therapy 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.
Key Benefits for Photodynamic Therapy Market Reports –
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
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Photodynamic Therapy Market Segmentation –
By Product Type
- Photosenitizer drugs
- Hematoporphyrin Derivative (HpD)
- Aminolevulinic Acid (ALA)
- benzoporphyrin derivatives
- Disposable fiber optic light delivery devices
- Diode lasers
- Basal Cell Carcinoma
- Actinic Keratosis
By Regional & Country Analysis:
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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