Global Photodynamic Therapy Market was worth US$ 3.63 Billion in 2023. The report forecasts a 7.52% CAGR from 2024 to 2032. The market is projected to be valued at US$ 6.97 Billion by 2032.
A medication called a photosensitizer is combined with light energy in a two-stage treatment called photodynamic therapy (PDT), which is intended to kill malignant and precancerous cells upon light activation. Photosensitive materials are activated by specific light wavelengths, commonly released by lasers. The photosensitizer is safe until light causes it to become active. On the other hand, the photosensitizer becomes poisonous to the targeted tissue upon light activation. Today, there are many photosensitizer medications available to treat a wide range of conditions, such as age-related macular degeneration, acne, psoriasis, and numerous malignancies of the skin, lungs, brain, esophagus, bile duct, pancreas, bladder, and head and neck. PDT aids in treating bacterial, fungal, and viral infections in addition to these ailments.
Medicare coverage for specific PDT procedures in the United States also aids in market expansion by improving patient access and affordability. The Centers for Medicare & Medicaid Services (CMS) are extending coverage to ocular photodynamic therapy (OPT) with verteporfin for "wet" age-related macular edema (AMD). Follow-up treatments require fluorescein angiography (FA) testing for coverage. The growing elderly population in the US also reflects global demographics. This offers chances for PDT use in managing age-related macular degeneration, which is especially critical among seniors.
2. Photosensitizer Drugs
2. Actinic Keratosis
3. Psoriasis
4. Acne
5. Others
2. Cosmetics & Dermatology Clinics
3. Cancer Treatment Centers
4. Others
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
2. Sun Pharmaceutical Industries Ltd.
3. Biofrontera Inc.
4. Lumibird S.A.
5. Bausch Health Companies Inc.
6. Soligenix Inc.
7. Modulight Corporation
8. Theralase Technologies Inc.
A medication called a photosensitizer is combined with light energy in a two-stage treatment called photodynamic therapy (PDT), which is intended to kill malignant and precancerous cells upon light activation. Photosensitive materials are activated by specific light wavelengths, commonly released by lasers. The photosensitizer is safe until light causes it to become active. On the other hand, the photosensitizer becomes poisonous to the targeted tissue upon light activation. Today, there are many photosensitizer medications available to treat a wide range of conditions, such as age-related macular degeneration, acne, psoriasis, and numerous malignancies of the skin, lungs, brain, esophagus, bile duct, pancreas, bladder, and head and neck. PDT aids in treating bacterial, fungal, and viral infections in addition to these ailments.
Global Photodynamic Therapy Market Trends
Increasing Cancer incidence and broader Usage
The estimates from IARC's Global Cancer Observatory in 2022 revealed that ten types of cancer accounted for two-thirds of global new instances and deaths. Lung cancers led with 2.5 Million new instances, comprising 12.4% of new cases. Photodynamic therapy emerges as a versatile remedy beyond oncology as cancer rates surge. Initially, for cancers, PDT now reveals utility in age-associated macular degeneration management. The BMC Ophthalmology estimates a prevalence of 10.8% in males and 9.8% in women. PDT also shows promise in treating acne vulgaris and psoriasis. This drives the global photodynamic therapy market boom through expanded investments and research.Approvals from Clinical Trials
Clinical approvals are pivotal for the global photodynamic therapy market, expanding its applications past oncology. As regulatory bodies greenlight PDT for numerous medical situations, confidence in its efficacy grows. These approvals propel the demand for PDT, fueling investment in studies and improvement to enhance its accessibility and effectiveness. Consequently, clinical approvals catalyze the PDT market, facilitating its adoption in mainstream clinical practice and fostering growth. For instance, in July 2023, the FDA specified the orphan drug padeliporfin VTP as a potential healing alternative in domestically advanced pancreatic cancer patients.- Increase in Healthcare Expenditure on a Global Scale
United States Photodynamic Therapy Market
United States photodynamic therapy market is seen as a promising part of the worldwide market. It is mainly valued for its success in treating skin cancer. This is because skin cancer rates are going up, and more individuals understand how powerful PDT can be. According to Cancer.Net, about 97,610 adults in the US had been recognized with invasive melanoma of the skin in 2023. At the same time, technological improvements, similar to what's taking place around the sector, are making the US market even more potent. New photosensitizer traits and light delivery structures make PDT work better for many exclusive uses.Medicare coverage for specific PDT procedures in the United States also aids in market expansion by improving patient access and affordability. The Centers for Medicare & Medicaid Services (CMS) are extending coverage to ocular photodynamic therapy (OPT) with verteporfin for "wet" age-related macular edema (AMD). Follow-up treatments require fluorescein angiography (FA) testing for coverage. The growing elderly population in the US also reflects global demographics. This offers chances for PDT use in managing age-related macular degeneration, which is especially critical among seniors.
Global Photodynamic Therapy Company News
Gladerma S.A., Sun Pharmaceutical Industries Ltd., Biofrontera Inc., Lumibird S.A., Bausch Health Companies Inc., Soligenix Inc., Modulight Corporation, and Theralase Technologies Inc. are the leading companies in the global photodynamic therapy market.- In January 2023 - Biofrontera AG disclosed that its subsidiary, Biofrontera Bioscience GmbH, was granted a notice of allowance for the patent application "Photodynamic therapy comprising two light exposures at different wavelengths" by the US Patent and Trademark Office (USPTO). The patent safeguards several advancements concerning a novel illumination technique for treating dermatological skin conditions with Photodynamic Therapy (PDT).
- In February 2023 - Bausch + Lomb Corporation and Modulight Corporation revealed FDA approval for the ML6710i photodynamic laser. It's cleared for use alongside Bausch + Lomb’s VISUDYNE (verteporfin for injection) photodynamic therapy (PDT) to treat patients with predominantly classic subfoveal choroidal neovascularization, a complication of Age-related Macular Degeneration (AMD).
- In May 2023 - Rakuten Medical received approval from the Indian Central Drugs Standard Control Organization (CDSCO) to conduct its global Phase III clinical trial on Alluminox treatment (photoimmunotherapy) with ASP-1929 for patients with locoregional, recurrent head and neck squamous cell carcinomas (HNSCC) in India.
- In August 2023 - ImPact Biotech, a leader in photodynamic therapy, partnered with Maastricht University to research treating Pathological Myopia, also known as Myopic Macular Degeneration (MMD). They will utilize ImPact’s Padeliporfin Vascular targeted photodynamic therapy (VTP) platform.
- In July 2022 - Biolitec Pharma Ltd. unveiled the ELVeS Radial Laser System, its latest-generation laser device. This innovation expands treatment options for cancer, benign prostatic hyperplasia, and varicose veins, demonstrating ongoing advancements in photodynamic therapy technologies.
- In June 2022 - DUSA Pharmaceuticals launched Levulan® (aminolevulinic acid HCl), a new photodynamic therapy product for treating actinic keratosis. It improves comfort and enhances patient experience, advancing photodynamic therapy in dermatology.
Product types - Market breakup in 2 viewpoints:
1. Photodynamic Therapy Devices2. Photosensitizer Drugs
Application - Market breakup in 5 viewpoints:
1. Cancer2. Actinic Keratosis
3. Psoriasis
4. Acne
5. Others
End-User - Market breakup in 4 viewpoints:
1. Hospitals2. Cosmetics & Dermatology Clinics
3. Cancer Treatment Centers
4. Others
Country - Market breakup of 25 Countries:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Gladerma S.A.2. Sun Pharmaceutical Industries Ltd.
3. Biofrontera Inc.
4. Lumibird S.A.
5. Bausch Health Companies Inc.
6. Soligenix Inc.
7. Modulight Corporation
8. Theralase Technologies Inc.
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Photodynamic Therapy Market
4. Market Dynamics
6. Global Photodynamic Therapy - Market Share Analysis
7. Product Type - Global Photodynamic Therapy Market
8. Application - Global Photodynamic Therapy Market
9. End User - Global Photodynamic Therapy Market
10. Countries - Global Photodynamic Therapy Market
11. Porter’s Five Forces Analysis - Global Photodynamic Therapy Market
12. SWOT Analysis - Global Photodynamic Therapy Market
13. Key Players Analysis
List of Tables
List of Figures
Companies Mentioned
- Gladerma S.A.
- Sun Pharmaceutical Industries Ltd.
- Biofrontera Inc.
- Lumibird S.A.
- Bausch Health Companies Inc.
- Soligenix Inc.
- Modulight Corporation
- Theralase Technologies Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | May 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 3.63 Billion |
| Forecasted Market Value ( USD | $ 6.97 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
