openPR Logo
Press release

Photodynamic Therapy Market: Illuminating a Brighter Future in Cancer Treatment with Photodynamic Therapy Innovations

06-05-2023 07:09 AM CET | Health & Medicine

Press release from: Persistence Market Research

Photodynamic Therapy Market

Photodynamic Therapy Market

Actinic keratosis, psoriasis, acne, rosacea, esophageal cancer, and basal cell carcinoma are considered to be the topmost risk factors that are boosting the demand for photodynamic therapy among the general population. However, the growing availability of FDA-approved photosensitizer drugs and laser systems is contributing to the increased adoption of novel and innovative technologies to treat various conditions of dermatology, ophthalmology, and oncology.

According to the Skin Cancer Foundation, one in five Americans are projected to develop skin cancer by the age of 70 years. Moreover, actinic keratosis has been registered as the most common precancer that affects over 58 million Americans. The above mentioned skin disorders, along with other indications, such as non-small cell lung cancer and esophageal cancer, can be treated effectively with the help of photosensitizer drugs. Thus, photodynamic therapy is the most preferred treatment among prevalent people for skin disorders and associated cancers, which is driving the demand for phototherapy devices and photosensitizer drugs, thus generating growth opportunities for the photodynamic therapy market.

According to the latest research by PMR, the global photodynamic therapy market is estimated to have accounted for US$ 1,202.1 Mn in terms of value in 2019. The report on the photodynamic therapy market further projects that the photodynamic therapy market is likely to grow at a CAGR of 6.2% during the period 2019-2029.

The growing prevalence and incidence of skin cancers and dermatology disorders, mostly basal cell carcinoma, psoriasis, actinic keratosis, and rosacea, is boosting the demand for photodynamic therapy, and this is one of the leading factors contributing to the revenue growth of the photodynamic therapy market. Moreover, according to National Psoriasis Foundation, approximately 125 million people worldwide, which account for 2 to 3% of the total population, are known to suffer from psoriasis.

Get PDF Brochure for Research Insights at: https://www.persistencemarketresearch.com/samples/25228

The synergy of photosensitizer drugs and devices represents a significant untapped potential for new entrants. Drug and device companies are collaborating to offer Photodynamic Therapy (PDT) devices, wherein drugs injected into the bodies of patients are later activated by light. Therefore, photodynamic therapy has become the most preferred treatment for skin cancer and ophthalmology conditions, which is a significant factor that is boosting its demand from end-use settings, thus driving the photodynamic therapy market.

Photodynamic therapy plays a vital role as the field of light therapy is emerging dramatically. Photodynamic therapy has substituted chemotherapy as well as radiation therapy. Moreover, photodynamic therapy has proven to be advantageous over chemotherapy as it can be repeated several times in one particular area.

Request a TOC of Report: https://www.persistencemarketresearch.com/methodology/25228

Moreover, the introduction of technologically upgraded photodynamic therapy over conventional photodynamic therapy is further projected to boost the photodynamic therapy market. Photodynamic therapy being cheaper and minimally painful is advantageous for cancer patients as it enables them to avoid chemotherapy or surgery. However, despite being the cost-effective treatment option for cancer, photodynamic therapy usage is restricted for patients who are sensitive to light or in case the cancer prevails in deeper body parts. Among photodynamic therapy devices, diode laser devices are high-cost medical devices, and this is hampering the demand for the same as compared to the demand for disposable fiber optic light delivery devices for the photodynamic therapy market.

The photosensitizer drugs segment is a leading revenue segment by product type in the photodynamic therapy market, and is expected to account for a revenue share of 78.3% in 2019. Among the photosensitizer drugs, Aminolevulinic Acid (ALA)-based drugs are the most widely preferred drugs as compared to Hematoporphyrin Derivative (HpD) and others. Among all the end users in the photodynamic therapy market, the hospitals segment is projected to remain a prominent segment over the forecast period, followed by the private dermatology clinics segment.

Request For Full Report Access: https://www.persistencemarketresearch.com/checkout/25228

The photodynamic therapy market has been scrutinized across the regions of North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA. North America, followed by Europe, is a significant revenue-generating region in the global photodynamic therapy market. North America is expected to account for a revenue share of 34.5% in 2019 in the photodynamic therapy market. Europe accounts for the second-highest revenue share in the global photodynamic therapy market with a substantial CAGR. It is followed by East Asia and Latin America in the photodynamic therapy market. Russia, China, and South Korea are emerging markets in the photodynamic therapy market. China is estimated to be one of the fastest-growing emerging markets in the global photodynamic therapy market, and is expected to grow at a CAGR of 5.7% over the forecast period of 2019-2029.

The photodynamic therapy market report tracks some of the key companies operating in the photodynamic therapy market, such as Sun Pharmaceutical Industries Ltd., Galderma SA, Biofrontera AG, Bausch Health Companies Inc., Novartis AG, Allergan Plc., Hologic, Inc., and Quest PharmaTech Inc. A majority of the regional players in the photodynamic therapy market are focused on increasing their product reach for drugs & devices and enhancing their connectivity with the regional distributors of photodynamic therapy products. The manufacturers of photodynamic therapy are focused on strengthening their businesses in opportunistic photodynamic therapy markets, such as Russia, China, India, South Korea, and Japan, by expanding their sales and distribution channels across these countries.

Browse Research Release at @ https://www.persistencemarketresearch.com/market-research/photodynamic-therapy-market.asp

Browse More: Life Sciences & Transformational Health Research Reports

Popular Research Reports by PMR:

Whole Slide Imaging Systems Market: https://www.persistencemarketresearch.com/market-research/whole-slide-imaging-systems-market.asp
Neurovascular Thrombectomy Devices Market: https://www.persistencemarketresearch.com/market-research/neurovascular-thrombectomy-devices-market.asp
Injectable Nanomedicines Market: https://www.persistencemarketresearch.com/market-research/injectable-nanomedicines-market.asp

Persistence market research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

About us: -

Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Photodynamic Therapy Market: Illuminating a Brighter Future in Cancer Treatment with Photodynamic Therapy Innovations here

News-ID: 3077020 • Views: 136

More Releases from Persistence Market Research

The Dynamic Landscape of the Smart Machines Market - Innovations, Applications, Growth Prospects, and Industry Disruption
The Dynamic Landscape of the Smart Machines Market - Innovations, Applications, …
Market Overview: The Smart Machines market involves the integration of artificial intelligence (AI), machine learning, and other advanced technologies into traditional machines to enhance their performance, autonomy, and capabilities. These machines can analyze data, make decisions, and adapt to changing conditions, leading to improved efficiency and productivity across various industries. Market Size and Growth: The global Smart Machines market was valued at US$ 73,456.2 Million in 2022. It is projected to grow at
Insights into the Duchenne Muscular Dystrophy Treatment Market - Therapies, Research, Patient Care, and Future Prospects
Insights into the Duchenne Muscular Dystrophy Treatment Market - Therapies, Rese …
Market Overview: The Duchenne Muscular Dystrophy (DMD) treatment market focuses on therapeutic interventions and pharmaceutical products for the management and treatment of Duchenne Muscular Dystrophy, a genetic disorder characterized by progressive muscle degeneration and weakness. The market aims to address the unmet medical needs of individuals affected by DMD, primarily children. Market Size and Growth: The global Duchenne Muscular Dystrophy treatment market was valued at approximately USD X billion in 2017. It is
Unlocking the Secrets of the Neuroscience Market: Advancements, Opportunities, and Future Directions
Unlocking the Secrets of the Neuroscience Market: Advancements, Opportunities, a …
Market Overview: The neuroscience market encompasses the study of the nervous system and its various aspects, including the structure, function, and diseases associated with the brain, spinal cord, and peripheral nerves. This market includes a wide range of products, services, and technologies used for research, diagnostics, and treatment of neurological conditions. Market Size and Growth: The global neuroscience market was valued at US$ 18.5 Million in 2017. It is projected to grow at
The Spirulina Market - Health Benefits, Sustainability, Culinary Innovation, and Global Growth Trends
The Spirulina Market - Health Benefits, Sustainability, Culinary Innovation, and …
Market Overview: The Spirulina market involves the cultivation, production, and distribution of the microalga Spirulina, which is recognized for its high nutritional content and potential health benefits. Spirulina is rich in protein, vitamins, minerals, antioxidants, and other bioactive compounds, making it a popular functional food ingredient. Market Size and Growth: The market for spirulina can be expected to expand at a value based CAGR of 8.0% and show an increase in

All 5 Releases


More Releases for Photodynamic

Photodynamic Therapy Market to flourish based on virtual, personalized care
The healthcare vertical is seeing an influx of self-moving smart devices, which ought to extend support to the medical staff by curtailing their supply management or sanitation-related chores. Smart helpers could be used for remote monitoring of oxygen saturation and blood pressure levels for the patients, as they are of utmost importance regarding their health condition. This would be the scenario with Photodynamic Therapy Market in the subsequent decade. Actinic keratosis,
Cloud Hostage and Data Storage to Complement the Photodynamic Therapy Market
Photodynamic Therapy Market 2022 The Photodynamic Therapy Market is likely to grow stupendously in the subsequent decade. With IoT in the picture, the complex medical equipment could be monitored, that too, all at a time and under one umbrella. As such, costly downtime could be avoided and predictive maintenance could be fostered. Plus, increased spending could be facilitated for disposable items like syringes, gloves, and masks. Actinic keratosis, psoriasis, acne, rosacea, esophageal
The Photodynamic Therapy Market to Be Driven By Neurotechnology
The Photodynamic Therapy Market is expected to grow on a healthy note in the subsequent decade. With value-based care picking up, close to 15% of the entire population is under its umbrella as of now. Programs like "Online Bachelor's Degree in General Studies with a Concentration in Healthcare" is being floated, which could aid professionals to lead in the value-based care strategies. In other words, the future belongs to professionals
Photodynamic Therapy Market Size, Strategic Overview, Supply, Demands & Forecast …
The Photodynamic Therapy market report [10 Year Forecast 2019-2029] focuses on Major Leading Industry Players, providing info like Photodynamic Therapy market product scope, market overview, opportunities, driving force and market risks. Profile the top manufacturers of Photodynamic Therapy, with sales, revenue and global market share of Photodynamic Therapy are analyzed emphatically by landscape contrast and speak to info. Upstream raw materials and instrumentation and downstream demand analysis is additionally administrated.
Global Cancer Photodynamic Therapy Market Outlook 2023
Efficacy and safety of a therapeutic method has always been the prime concern during treatment of an ailment. Any therapeutic method that fulfills the above criteria has been deemed to be a successful procedure. Nonetheless, patients and health professionals not only seek the efficacy and safety of a treatment method, but also look into it being a non- invasive procedure involving minimal to no pain. It is evident that such
Global Lung Cancer Market Treatment Types: Chemotherapy, Cryotherapy, Photodynam …
Learning Objectives: • To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the Global Lung Cancer Market • To provide insights about factors affecting the market growth • To Analyze the Global Lung Cancer Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc. • To provide historical and forecast revenue of the market segments and sub-segments with respect