Global Photodynamic Therapy Market

Photodynamic Therapy Market is expected to witness a CAGR of approximately 7.1% during the forecast period, 2023-2030.

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Major Photodynamic Therapy Market Drivers

Primary drivers that propel the global photodynamic therapy market more significantly are the growing occurrence of cancer, rising prevalence of skin illness, rise in the number of incidences of geriatric diseases, and growth in consumer knowledge of photodynamic therapy benefits. The global market for photodynamic therapy is developing due to a rise in the prevalence of different skin conditions such as psoriasis, actinic keratosis, acne, rosacea, and many others. Photodynamic therapy, acknowledged as a highly efficient form of treatment, is progressively chosen over more conventional methods. For instance, reports by the World Health Organization state that around the globe, 2 to 3 million people are affected by different forms of skin cancers during a year. This category of cancer constitutes 33% of all diagnosed tumors globally.

The market is witnessing growth driven by increased awareness among customers regarding the benefits of photodynamic therapy, coupled with a growth in demand for treatments targeting eyes, facial conditions, and acne. Moreover, expanding research and development activities concerning the evaluation of photodynamic treatment are unlocking appealing commercial prospects. The growth of global photodynamic therapy market is predicted to be fostered by an increasing need for photosensitizer drugs and linked equipment used in treating different cancer types. According to the recent data from the WHO updated in 2022, February, cancer stands as a prevalent cause of global mortality, accounting for approximately 10 million deaths in 2020, constituting nearly one in six recorded deaths. Therefore, the growing prevalence of cancer cases globally is predicted to raise the need for photosensitizer drugs, thereby propelling market growth. For instance, nearly 181 million new cases of cancer were identified in 2018, and GLOBCAN predicts a further rise in that number. In addition, developments in device technology, coupled with increased research and development practices on pharmaceuticals employed in photodynamic treatment, are predicted to propel market growth in the forecast period.

Prolonged and unprotected exposure to UV light is the primary cause of actinic keratosis. The increasing incidence of actinic keratosis is predicted to increase the demand for photodynamic therapy as a preferred method for its treatment and care. The market is observing growth due to the expansion of government initiatives focused on developing cancer awareness and associated treatments. Favorable investments from healthcare stakeholders are predicted to propel promising growth in the market, developed by the expansion of healthcare infrastructure and the increased accessibility of technologically improved healthcare equipment. Moreover, market growth is being driven by positive government initiatives, manufacturing assistance for healthcare equipment makers, and government funding dedicated to the construction of healthcare infrastructure. The demand for the photodynamic therapy market is predicted to increase rapidly due to a relatively competitive landscape in the treatment of skin diseases, basal cell carcinoma, and actinic keratosis.

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While, the adoption of photodynamic therapy may face hindrances due to a shortage of awareness among both patients and healthcare providers concerning its potential benefits. Overcoming this restriction demands education campaigns and training initiatives. However, the cost-intensive nature of photodynamic therapy, which involves concentrated equipment, photosensitive drugs, and trained personnel, can pose a challenge to market growth. High treatment costs may function as a deterrent for both patients and healthcare facilities, especially in regions with limited healthcare budgets. PDT encompasses several steps, including photosensitizer administration, post-treatment care, and light exposure. The complexities of these protocols may require dedicated training for healthcare experts, potentially impacting the accessibility of the treatment which further restraint the market growth.

In photodynamic therapy, there is significant potential for cancer detection and treatment through the integration of artificial intelligence models. Companies are increasingly investing funds in the development of product design and clinical testing, discovering the incorporation of artificial intelligence into photodynamic therapy. The utilization of artificial intelligence to examine the outcomes and discomfort linked with superficial basal cell carcinomas and several other illnesses treated with PDT is predicted to be the foremost innovation in the landscape of the global photodynamic therapy (PDT) market. Moreover, throughout the post-genomic period, technological innovations have led to non-invasive and cost-economical methods for finding cells of cancer, reducing the need for surgery. These advancements include the emergence of developed technologies including innovative biomarker discovery, capillary electrophoresis, drug delivery methods, and many more. These technologies empower physicians to detect and quantify specific DNA or RNA sequences and proteins, enabling early prediction and treatment of diseases. Specifically in oncology, the usage of these technologies has afforded physicians an all-inclusive understanding of the pathogenesis of cancer. Such trends are estimated to contribute to the global photodynamic therapy market trends in the forecast period.

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By Product, Photosensitizer Drugs is Estimated to Register Largest Revenue Share in the Global PDT Market

Photodynamic drugs are predominantly employed in photodynamic therapy, where the photosensitizer agent is activated by light to eliminate cancer cells. The crucial role of photosensitizer agents is to transfer entry into another molecule, either directly or with the assistance of a chemical reaction, and to absorb light. Whereas, the general photosensitizing drugs include chlorpromazine, amiodarone, doxycycline, and nalidixic acid. Factors such as the considerable increase in the aim of new anti-cancer treatments and therapies, including immunotherapy, are predicted to drive the need for the photosensitizer drug segment. Subsequently, these factors will rapidly support the growth of the photosensitizer drug segmentations in the global photodynamic therapy industry.

Furthermore, the growing research and development funding by market players, to discover innovative photosensitizers for developed clinical outcomes, is predicted to propel market growth globally in the forecast period. Photodynamic therapy devices are predicted to experience substantial growth due to technological innovations that have fewer side effects, coupled with increasing awareness among the general population. The rise in cancer incidences, coupled with the growing implementation of photodynamic therapy technology for treatment, is predicted to drive the growth of the segment in the global market. In 2020, the National Board of Health and Welfare stated that a total of 68,318 malignant tumors were reported for 62,555 individuals around the U.S. The count of individuals diagnosed with cancer significantly surpassed the number of fatalities attributed to cancer. Additionally, the expanding usage of photodynamic therapy in different applications, including lung cancer, breast cancer, and many others is predicted to propel segmental growth in the forecast period.

By Region, North America is Predicted to Dominate the Largest Revenue Share in Global Market

North America region is estimated to hold the largest revenue share due to the existence of key players in the U.S., a high rate of photodynamic therapy adoption, a continuous rise in new products launched by giant market players, and an increase in the need for new biologics for cancer treatment. The North America photodynamic therapy market is observing growth due to an increase in product sanctions by the United States Food and Drug Administration, an increased utilization of photodynamic therapy for treating actinic keratosis, and a growth in the number of cosmetologists offering photodynamic therapy services. In 2021, Biofrontera Inc. announced the enrolment of the first subject in a Phase 1 study assessing the security and tolerability of PDT for treating actinic keratosis using 3 tubes of Ameluz together with the BF-RhodoLED XL lamp of company. These product approvals are predicted to present positive market growth around the region.

Top Market Players

Various notable players operating in the market include Lumibird (Quantel Medical), Bausch Health Companies Inc., Biofrontera AG, Galderma S.A., Sun Pharmaceutical Industries Limited, Soligenix, biolitec AG, Modulight, Inc., Theralase Technologies Inc. among others.

Key Developments

• • In 2023, Bausch + Lomb and Modulight announced approval by the FDA of ML6710i which is a photodynamic laser to treat patients who are suffering from wet AMD with continuing fluid and address the unmet requirement in PDT.
  • In 2023, ImPact Biotech joined hands with Maastricht University to develop and fulfill the unmet clinical requirements in advanced Myopia.
  • In 2022, Asieris Pharmaceuticals announced a successfully finalized enrolment for the phase III clinical trial of Cevira for surgical treatment of HSIL to serve the growing unmet medical requirement for safe and non-surgical treatment choices.

Segments covered in the Report:

The Global Photodynamic Therapy Market has been segmented on the basis of Applications and End-User. Based on the Applications, the market is segmented into Cancer, Acne, Actinic Keratosis, Psoriasis, Others. Based on the end-user, the market is segmented into Hospitals, Dermatology Clinics, Cosmetic and Others.

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Report Coverage	Details
Market Revenues (2022)	USD Million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Applications, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Lumibird (Quantel Medical), Bausch Health Companies Inc., Biofrontera AG, Galderma S.A., Sun Pharmaceutical Industries Limited, Soligenix, biolitec AG, Modulight, Inc., Theralase Technologies Inc. among others; a total of 9 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Photodynamic Therapy Market by Applications

• • Cancer
  • Actinic Keratosis
  • Acne
  • Psoriasis
  • Others

Global Photodynamic Therapy Market by End-User

• • Hospitals
  • Cosmetic and Dermatology Clinics
  • Others

Global Photodynamic Therapy Market by Region

• • North America Photodynamic Therapy Market (Option 1: As a part of the free 25% customization)

    • By Applications
    • By End-User
    • US Market All-Up
    • Canada Market All-Up

  • Europe Photodynamic Therapy Market (Option 2: As a part of the free 25% customization)

    • By Applications
    • By End-User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Photodynamic Therapy Market (Option 3: As a part of the free 25% customization)

    • By Applications
    • By End-User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Photodynamic Therapy Market (Option 4: As a part of the free 25% customization)

    • By Applications
    • By End-User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Photodynamic Therapy Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Biofrontera AG
  • Lumibird (Quantel Medical)
  • Galderma S.A.
  • Bausch Health Companies Inc.
  • Sun Pharmaceutical Industries Limited
  • Soligenix
  • biolitec AG
  • Modulight, Inc.
  • Theralase Technologies Inc.