Photodynamic Therapy Market to Exceed Value of US$ 15.1 Bn by 2031

The photodynamic therapy (PDT) market is projected to advance at a CAGR of 13.5% during the forecast period from 2022 to 2031. Increasing incidence of skin diseases, rise in demand for minimally invasive procedures, and mounting economic burden of cancer are some key factors driving the photodynamic therapy market.

Besides, approval of novel biologics by regulatory agencies expands the line of available therapies for patients of cancer and skin diseases. This is attracting companies in the photodynamic therapy market to develop techniques to increase transdermal delivery of ALA, which is likely to influence photodynamic therapy market growth.

North America is anticipated to hold the leading share of PDT market during the forecast period. Increase in demand for new biologics for cancer treatment, high rate of adoption of photodynamic therapy, and new product launches strengthen the growth of North America photodynamic therapy market.

Some of the Major Key players profiled in the study are Quantel Medical (Subsidiary of the Lumibird Group), Theralase Technologies Inc., Modulight, Inc., Quest PharmaTech Inc., Biofrontera AG, Galderma, Sun Pharmaceutical Industries Ltd., Bausch & Lomb, SUS Advancing Technology Co., Ltd., and Sagentia, among others.

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Market Overview

In the past few years, the Photodynamic Therapy market experienced a huge change under the influence of COVID-19, the global market size of Photodynamic Therapy reached (2021 Market size $$) million $ in 2021 from (2016 Market size $$) in 2016 with a CAGR of 7% from 2016-2021 is. As of now, the global COVID-19 Coronavirus Cases have exceeded 200 million, and the global epidemic has been basically under control, therefore, the World Bank has estimated the global economic growth in 2021 and 2022. The World Bank predicts that the global economic output is expected to expand 4 percent in 2021 while 3.8 percent in 2022. According to our research on Photodynamic Therapy market and global economic environment, we forecast that the global market size of Photodynamic Therapy will reach (2026 Market size $$) million $ in 2026 with a CAGR of % from 2021-2026.

Due to the COVID-19 pandemic, according to World Bank statistics, global GDP has shrunk by about 3.5% in 2020. Entering 2021, Economic activity in many countries has started to recover and partially adapted to pandemic restrictions. The research and development of vaccines has made breakthrough progress, and many governments have also issued various policies to stimulate economic recovery, particularly in the United States, is likely to provide a strong boost to economic activity but prospects for sustainable growth vary widely between countries and sectors. Although the global economy is recovering from the great depression caused by COVID-19, it will remain below pre-pandemic trends for a prolonged period. The pandemic has exacerbated the risks associated with the decade-long wave of global debt accumulation. It is also likely to steepen the long-expected slowdown in potential growth over the next decade.

The world has entered the COVID-19 epidemic recovery period. In this complex economic environment, we published the Global Photodynamic Therapy Market Status, Trends and COVID-19 Impact Report 2021, which provides a comprehensive analysis of the global Photodynamic Therapy market , This Report covers the manufacturer data, including: sales volume, price, revenue, gross margin, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows the regional development status, including market size, volume and value, as well as price data. Besides, the report also covers segment data, including: type wise, industry wise, channel wise etc. all the data period is from 2015-2021E, this report also provide forecast data from 2021-2026.

Region Segmentation
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Other)
Asia Pacific (China, Japan, India, Korea, Southeast Asia)
Europe (Germany, UK, France, Spain, Italy)
Middle East and Africa (Middle East, Africa)

Photodynamic Therapy Segmentation by Type:

Product Type (Drugs and Devices), Application (Cancer, Actinic Keratosis (AK), Acne, and Psoriasis), End Users (Hospitals, Cancer Treatment Centers, and Cosmetic & Dermatology Clinics)-.

Photodynamic Therapy Segmentation by Application:

Applications 1,Applications2,Applications23

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What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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