Global Photodynamic Therapy Market Size
The photodynamic Therapy Market is projected to attain US$ 6.97 Billion through 2032 from US$ 3.63 Billion in 2023, with an improved CAGR of 7.52% from 2024 to 2032
Photodynamic therapy Market includes the use of photosensitizers to treat numerous tumors. This therapy method administers a mildly sensitive dye to the target site, after which exposes it to mild light of the right wavelength and fluence. The photoactivated molecule reacts with intracellular oxygen, inducing selective cytotoxicity in focused cells through the generation of reactive oxygen species. PDT is less invasive than different treatments and has the potential to be mixed with chemotherapy and radiation. It has the ability to address many unmet medical needs. Although a fantastically new technique, PDT is already a successful and clinically authorized therapeutic technique for handling neoplastic and non-malignant diseases. Almost 2 decades, PDT became the primary drug-device aggregate accredited by the FDA; however, it remains underutilized clinically. In 2022, an expected 1.5 million new instances of skin cancer were recognized internationally, with 330,000 new cases of melanoma.
Number of new cases of Skin cancer in upcoming years
- The American Cancer Society estimates that during 2024, there will be 100,640 new instances of invasive melanoma identified in the US, with 8,290 deaths.
- According to skincancer.org, the wide variety of latest cancer cases recognized in the UK in 2024 is anticipated to boom by 7.3%. Cancer Research UK estimates that with the aid of 2040, the wide variety of cancer cases could grow by 50% to 26,500 annually.
- In Germany around 180,000 new cases are reported annually, and the incidence is projected to double by 2030.
- According to the BAPC model, the prevalence of skin cancer in China is predicted to grow between 2020 and 2030 at a higher rate than the worldwide average. The annual prevalence rate of squamous cell carcinoma (SCC) in China is 2.6 per 100,000 humans, and it accounts for 4.3 percent of all cancers are in men.
- According to Researchgate.Net, the projected numbers of skin cancer cases in India for 2025 is 5,624, accounting for 0.4% of all cancer instances.
United States PDT Therapy Market
The United States marketplace for photodynamic therapies is expected to rise because of extended RD spending, technological improvements, and public recognition of the therapies. The increase in cancer instances and the growing use of photodynamic therapy as a remedy are also anticipated to contribute to market growth. A photodynamic remedy is a less invasive remedy that minimizes harm to healthy tissues, improving patient’s quality of life. Despite the better variety of cancer-associated deaths than the quantity of humans identified with the disease, the financial advantages and tailored technique are driving the photodynamic therapy market's revenue.
Biofrontera Bioscience GmbH has obtained an allowance from the American Patent Office for patent application on a novel light approach for photodynamic therapy (PDT) treatment of pores and skin issues. Biofrontera Inc.'s BF-RhodoLED XL has been listed in the FDA's Orange Book, and the devices preceding patent inside the US under patent range 11,235,169 further validates its safety and efficacy. This has strengthened investor self-assurance within the photodynamic therapy marketplace.
Photodynamic Therapy Company Analysis
Several competitors, which include Gladerma S.A., Sun Pharmaceutical Industries Ltd., Biofrontera Inc., Lumibird S.A., Bausch Health Companies Inc., Soligenix Inc., Modulight Corporation, and Theralase Technologies Inc., lead the photodynamic therapy Industry.
Global Photodynamic Therapy Company News
Jan 2024: Metallopolymer approach to discover hypoxic energetic narrow-bandgap photosensitizers for powerful cancer photodynamic therapy.
Jan 2023: Biofrontera Bioscience GmbH was granted a patent through the United States Patent and Trademark Office for a brand new method for treating skin conditions using photodynamic therapy (PDT).
Feb 2023: the FDA approved the ML6710i photodynamic laser for treating age-related macular degeneration patients with conventional subfoveal choroidal neovascularization.
In May 2023, Rakuten Medical was given approval from the Indian CDSCO to conduct a Phase III medical trial on the Alluminox treatment for patients with head and neck squamous mobile carcinomas in India.
In August 2023, ImPact Biotech partnered with Maastricht University to research treating myopic macular degeneration using ImPact's Padeliporfin VTP platform.
Product types – Market breakup in 2 viewpoints:
- Photodynamic Therapy Devices
- Photosensitizer Drugs
Application – Market breakup in 5 viewpoints:
- Cancer
- Actinic Keratosis
- Psoriasis
- Acne
- Others
End-User – Market breakup in 4 viewpoints:
- Hospitals
- Cosmetics Dermatology Clinics
- Cancer Treatment Centers
- Others
Country – Market breakup of 25 Countries:
- North America
1.1 United States
1.2 Canada
- 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
- 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
- Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
- 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:
- Gladerma S.A.
- Sun Pharmaceutical Industries Ltd.
- Biofrontera Inc.
- Lumibird S.A.
- Bausch Health Companies Inc.
- Soligenix Inc.
- Modulight Corporation
- Theralase Technologies Inc.
