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Photodynamic Therapy Market By Product (Photosensitizer Drugs, Laser Devices), By Application (Ophthalmology, Oncology, Dermatology) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Industry Outlook

The photodynamic therapy market is set to grow at an impressive rate, with a compounded annual growth rate (CAGR) of 5.7% during the forecast period from 2018 to 2026. As per the statistics provided by the World Health Organization (WHO), currently, 2 to 3 million non-melanoma and 132,000 melanoma cases of skin cancer occur throughout the globe annually. Photodynamic therapy (PDT) is a treatment option for treating disorders related to the skin and eyes. It involves the use of a photosensitizing drug that gets stimulated on exposure to light of a certain wavelength for the generation of radical oxygen species that are actively engaged in killing cancerous cells.

Market Synopsis

Negligible toxicity and the ability to produce reactive oxygen species to promote cell death in tumors drive the photosensitizer drug market.

Photosensitizer drugs are reigning as the dominant product segment in the photodynamic therapy market. The inherent attributes possessed by photosensitizer drugs, such as negligible toxicity and the ability to produce reactive oxygen species to promote cell death in cancerous cells, drive the photosensitizer drug market. Third-generation photosensitizers are available for the treatment of skin and eye disorders. They are used topically and intravenously for targeted cell destruction. Laser devices are required to stimulate the photochemical reaction after the administration of photosensitizer drugs. Laser diodes emitting wavelengths in the range of 733 nm are widely preferred in photodynamic therapy.

The increasing popularity of photoimmunotherapy propelled the oncology market

Presently, oncology is leading the application segment of the photodynamic therapy (PDT) market. Photoimmunotherapy is a treatment protocol that employs photodynamic therapy in conjunction with immunotherapy for tumor suppression. The combined therapy is useful in the stimulation of the immune system, which has a synergistic effect in the treatment of metastatic cancer. Photodynamic therapy also prevents cancer by shrinking blood vessels, which provide nutrients to the tumor. In dermatology, PDT is employed for the treatment of pathological conditions such as acne and psoriasis. PDT is being researched as an antimicrobial therapy due to its ability to kill various drug-resistant pathogens found on the skin surface and oral cavities. In ophthalmology, PDT is employed for the treatment of wet age-related macular degeneration (AMD), in which the photosensitizer drug (verteporfin) targets the neovasculature that is caused by AMD.

The rising prevalence of skin cancer will drive the photodynamic therapy market in North America.

In the current scenario, North America is dominating the regional segment of the photodynamic therapy market. According to the American Academy of Dermatology (AAD), one out of every five people in the United States will develop skin cancer during their lifetime. The rising prevalence of skin cancer and the increasing number of diagnostic centers drive the photodynamic therapy market in North America. In Europe, market growth is determined by factors such as the increasing number of people suffering from dermatological disorders and the domicile of major players such as Allergan, Plc., Galderma S.A., and Biofrontera AG, etc. Asia Pacific will be the fastest-growing market during the forecast period on account of developing healthcare infrastructure and market expansion opportunities for key players specializing in photosensitizer drugs and laser devices.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Pharmaceutical companies actively engaged in providing products for photodynamic therapy are Allergan, Plc., Biofrontera AG, Biolitec AG, Dusa Pharmaceuticals, Galderma S.A., Lumenis, Ltd., PhotoMedex, Inc., Soligenix, Inc., Quest Pharmatech, Inc., and Valeant Pharmaceuticals International, Inc.

Key questions are answered in this report.

  • What are the latest market trends in the photodynamic therapy market?
  • What are the market participants involved in the photodynamic therapy market?
  • What are the latest photosensitizer drugs and laser devices employed in photodynamic therapy?
  • Which product is the fastest-growing in the photodynamic therapy market?
  • Which application is the leading and fastest-growing in the photodynamic therapy market?
  • Which regional segment is the leading and fastest-growing in the photodynamic therapy market?

Frequently Asked Questions:

The market for Photodynamic Therapy Market is expected to reach USD 6,310.5 Mn By 2026.

The Photodynamic Therapy Market is expected to see significant CAGR growth over the coming years, at 5.7%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Allergan, Plc., Biofrontera AG, Biolitec AG, Dusa Pharmaceuticals, Galderma S.A., Lumenis, Ltd., PhotoMedex, Inc., Soligenix, Inc., Quest Pharmatech, Inc. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Dec 2018
Category:  Pharmaceuticals
Report ID:   59490
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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