by The global photodynamic therapy market size surpassed USD 4.3 billion in 2023 and is expected to hit around USD 8.42 billion by 2033, growing at a CAGR of 7% from 2024 to 2033.
Key Takeaways
- North America dominated the photodynamic therapy market with the largest share of 31% in 2023.
- By product type, the photosensitizers drugs segment held the largest share of the market in 2023.
- By light source, the lasers segment dominated the market in 2023.
- By application, the cancer segment has the largest share in the photodynamic therapy market in 2023.
- By end-user, the hospitals segment dominated the market in 2023.
Introduction:
Photodynamic therapy (PDT) is a minimally invasive treatment approach used in the management of various medical conditions, including cancer, dermatological disorders, and ophthalmological diseases. This therapy involves the administration of a photosensitizing agent, which is activated by light of a specific wavelength, leading to the destruction of targeted cells or tissues. Over the years, PDT has gained significant traction as a promising alternative or adjunctive therapy due to its favorable safety profile and efficacy in select indications.
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Growth Factors:
The photodynamic therapy market is witnessing robust growth driven by several factors. Firstly, increasing prevalence and incidence rates of cancer and dermatological conditions worldwide have fueled the demand for effective treatment modalities, propelling the adoption of PDT. Additionally, advancements in light sources, photosensitizing agents, and targeted delivery systems have enhanced the efficacy and specificity of PDT, expanding its application across various medical specialties. Moreover, growing patient preference for minimally invasive procedures with reduced side effects and shorter recovery times has further contributed to the market’s growth trajectory.
Photodynamic Therapy Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 7% |
| Global Market Size in 2023 | USD 4.3 Billion |
| Global Market Size by 2033 | USD 8.42 Billion |
| U.S. Market Size in 2023 | USD 1.33 Billion |
| U.S. Market Size by 2033 | USD 2.66 Billion |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Product Type, By Light Source, By Application, and By End User |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Read More: Image Recognition Market Size to Worth USD 166.01 Bn by 2033
Photodynamic Therapy Market Dynamics
Drivers
Several key drivers are fueling the expansion of the photodynamic therapy market. Technological advancements, such as the development of next-generation photosensitizers with improved selectivity and reduced phototoxicity, are driving innovation in PDT. Furthermore, the rising geriatric population, coupled with the increasing incidence of age-related conditions such as age-related macular degeneration (AMD) and actinic keratosis, is creating a substantial demand for photodynamic therapy. Moreover, the expanding applications of PDT beyond oncology, including dermatology, ophthalmology, and infectious diseases, are opening up new avenues for market growth.
Restraints
Despite its promising prospects, the photodynamic therapy market faces certain restraints that may hinder its growth. One significant challenge is the high upfront costs associated with PDT equipment and procedures, limiting its accessibility, particularly in resource-constrained settings. Additionally, reimbursement policies and coverage limitations for PDT procedures vary across different regions, posing a barrier to widespread adoption. Moreover, concerns regarding the potential adverse effects of PDT, such as skin photosensitivity and ocular complications, may deter both patients and healthcare providers from embracing this therapy fully.
Opportunities
Amidst the challenges, the photodynamic therapy market presents several opportunities for expansion and innovation. Continued research and development efforts aimed at optimizing PDT protocols, enhancing the efficacy of photosensitizing agents, and improving light delivery systems hold the potential to broaden the therapeutic applications of PDT and address existing limitations. Furthermore, strategic collaborations between industry stakeholders, healthcare providers, and regulatory bodies can facilitate the development of standardized treatment guidelines and reimbursement policies, fostering greater acceptance of PDT in clinical practice. Moreover, the untapped potential of PDT in emerging markets presents a lucrative opportunity for market players to expand their geographical footprint and address unmet medical needs.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Recent Developments
- In September 2022, Quest PharmaTech Inc. declared that the Photodynamic Therapy technology license would be terminated and returned, as well as the sale of its ownership stake in Bioceltran Co., Ltd. for $300,000. A private company established in Korea called Bioceltran is creating active molecules that penetrate the skin for use in cosmetic and medicinal applications.
Photodynamic Therapy Market Companies
- Gladerma S.A.
- Sun Pharmaceutical Industries Ltd.
- Biofrontera
- Novartis AG
- Valeant Pharmaceuticals International, Inc.
- Quest Pharmatech, Inc.
- Hologic, Inc.
- Lumibird (Quantel Medical)
- Theralase Technologies Inc.
- Photocure ASA
- Biolitec AG
- IPG Photonics Corporation
Segments Covered in the Report
By Product Type
- Photosensitizer Drugs
- Photodynamic Therapy Devices
By Light Source
- Lasers
- Light Emitting Diodes (LEDs)
- Lamps
- Others
By Application
- Cancer
- Actinic Keratosis (AK)
- Psoriasis
- Acne
- Others
By End User
- Hospitals
- Cancer Treatment Centers
- Cosmetic and Dermatology Clinics
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Photodynamic Therapy Market
5.1. COVID-19 Landscape: Photodynamic Therapy Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Photodynamic Therapy Market, By Product Type
8.1. Photodynamic Therapy Market, by Product Type, 2024-2033
8.1.1. Photosensitizer Drugs
8.1.1.1. Market Revenue and Forecast (2021-2033)
8.1.2. Photodynamic Therapy Devices
8.1.2.1. Market Revenue and Forecast (2021-2033)
Chapter 9. Global Photodynamic Therapy Market, By Light Source
9.1. Photodynamic Therapy Market, by Light Source, 2024-2033
9.1.1. Lasers
9.1.1.1. Market Revenue and Forecast (2021-2033)
9.1.2. Light Emitting Diodes (LEDs)
9.1.2.1. Market Revenue and Forecast (2021-2033)
9.1.3. Lamps
9.1.3.1. Market Revenue and Forecast (2021-2033)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2021-2033)
Chapter 10. Global Photodynamic Therapy Market, By Application
10.1. Photodynamic Therapy Market, by Application, 2024-2033
10.1.1. Cancer
10.1.1.1. Market Revenue and Forecast (2021-2033)
10.1.2. Actinic Keratosis (AK)
10.1.2.1. Market Revenue and Forecast (2021-2033)
10.1.3. Psoriasis
10.1.3.1. Market Revenue and Forecast (2021-2033)
10.1.4. Acne
10.1.4.1. Market Revenue and Forecast (2021-2033)
10.1.5. Others
10.1.5.1. Market Revenue and Forecast (2021-2033)
Chapter 11. Global Photodynamic Therapy Market, By End User
11.1. Photodynamic Therapy Market, by End User, 2024-2033
11.1.1. Hospitals
11.1.1.1. Market Revenue and Forecast (2021-2033)
11.1.2. Cancer Treatment Centers
11.1.2.1. Market Revenue and Forecast (2021-2033)
11.1.3. Cosmetic and Dermatology Clinics
11.1.3.1. Market Revenue and Forecast (2021-2033)
11.1.4. Others
11.1.4.1. Market Revenue and Forecast (2021-2033)
Chapter 12. Global Photodynamic Therapy Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.1.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.1.3. Market Revenue and Forecast, by Application (2021-2033)
12.1.4. Market Revenue and Forecast, by End User (2021-2033)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.1.5.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.1.5.3. Market Revenue and Forecast, by Application (2021-2033)
12.1.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.1.6.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.1.6.3. Market Revenue and Forecast, by Application (2021-2033)
12.1.6.4. Market Revenue and Forecast, by End User (2021-2033)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.2.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.2.3. Market Revenue and Forecast, by Application (2021-2033)
12.2.4. Market Revenue and Forecast, by End User (2021-2033)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.2.5.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.2.5.3. Market Revenue and Forecast, by Application (2021-2033)
12.2.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.2.6.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.2.6.3. Market Revenue and Forecast, by Application (2021-2033)
12.2.6.4. Market Revenue and Forecast, by End User (2021-2033)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.2.7.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.2.7.3. Market Revenue and Forecast, by Application (2021-2033)
12.2.7.4. Market Revenue and Forecast, by End User (2021-2033)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.2.8.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.2.8.3. Market Revenue and Forecast, by Application (2021-2033)
12.2.8.4. Market Revenue and Forecast, by End User (2021-2033)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.3.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.3.3. Market Revenue and Forecast, by Application (2021-2033)
12.3.4. Market Revenue and Forecast, by End User (2021-2033)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.3.5.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.3.5.3. Market Revenue and Forecast, by Application (2021-2033)
12.3.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.3.6.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.3.6.3. Market Revenue and Forecast, by Application (2021-2033)
12.3.6.4. Market Revenue and Forecast, by End User (2021-2033)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.3.7.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.3.7.3. Market Revenue and Forecast, by Application (2021-2033)
12.3.7.4. Market Revenue and Forecast, by End User (2021-2033)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.3.8.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.3.8.3. Market Revenue and Forecast, by Application (2021-2033)
12.3.8.4. Market Revenue and Forecast, by End User (2021-2033)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.4.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.4.3. Market Revenue and Forecast, by Application (2021-2033)
12.4.4. Market Revenue and Forecast, by End User (2021-2033)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.4.5.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.4.5.3. Market Revenue and Forecast, by Application (2021-2033)
12.4.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.4.6.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.4.6.3. Market Revenue and Forecast, by Application (2021-2033)
12.4.6.4. Market Revenue and Forecast, by End User (2021-2033)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.4.7.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.4.7.3. Market Revenue and Forecast, by Application (2021-2033)
12.4.7.4. Market Revenue and Forecast, by End User (2021-2033)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.4.8.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.4.8.3. Market Revenue and Forecast, by Application (2021-2033)
12.4.8.4. Market Revenue and Forecast, by End User (2021-2033)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.5.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.5.3. Market Revenue and Forecast, by Application (2021-2033)
12.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.5.5.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.5.5.3. Market Revenue and Forecast, by Application (2021-2033)
12.5.5.4. Market Revenue and Forecast, by End User (2021-2033)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Product Type (2021-2033)
12.5.6.2. Market Revenue and Forecast, by Light Source (2021-2033)
12.5.6.3. Market Revenue and Forecast, by Application (2021-2033)
12.5.6.4. Market Revenue and Forecast, by End User (2021-2033)
Chapter 13. Company Profiles
13.1. Gladerma S.A.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Sun Pharmaceutical Industries Ltd.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Biofrontera
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Novartis AG
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Valeant Pharmaceuticals International, Inc.
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Quest Pharmatech, Inc.
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Hologic, Inc.
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Lumibird (Quantel Medical)
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Theralase Technologies Inc.
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Photocure ASA
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
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