Rising Prevalence Of Skin Cancer Drives Growth In The Photodynamic Therapy Market Driver: Leading Transformation in the Photodynamic Therapy Market in 2025

What industry-specific factors are fueling the growth of the photodynamic therapy market?
The escalation in occurrences of skin cancer is facilitating the expansion of the photodynamic therapy market. Skin cancer is reported to be the most widespread type of cancer. Melanoma, despite accounting for roughly 1% of skin cancers, leads to a considerable number of deaths from skin cancer. Photodynamic therapy (PDT) leverages a blend of a light-sensitive medication and extreme light to annihilate cancer cells. The physician applies the light-sensitive chemical-infused lotion onto the skin cancer and its surroundings. For example, in January 2024, the American Cancer Society, a professional organization based in the U.S., reported that skin cancer is the most common cancer in the U.S., with melanoma making up about 1% of cases yet accounting for most skin cancer deaths. Moreover, it is anticipated that in 2024, about 100,640 new melanoma cases will be identified in the U.S., roughly 59,170 in men and 41,470 in women. An estimated 8,290 deaths from melanoma are expected, including approximately 5,430 among men and 2,860 among women. Hence, the growing occurrence of skin cancer is projected to stimulate the expansion of the photodynamic therapy market in future years.

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What Is the projected market size and growth rate for the photodynamic therapy market?
In recent times, the photodynamic therapy market has witnessed significant growth. The market is projected to expand from a size of $1.45 billion in 2024 to about $1.55 billion in 2025. This represents a robust compound annual growth rate (CAGR) of 7.0%. Various factors contributing to this growth during the historical period include a growing elderly population, increasing instances of cancer and skin diseases, rising levels of pollution, greater healthcare spending, and an expansion in the number of healthcare facilities.

It is projected that the photodynamic therapy market will experience notable expansion in the coming years, expected to reach $2 billion by 2029 with a compound annual growth rate of 6.5%. This anticipated expansion during the forecast period is attributable to factors such as increased spending on healthcare, insurance coverage for photodynamic therapy, promising potential growth in developing economies, a surge in the teenage population, rising elderly population, growing prevalence of cancer and chronic diseases, and the emergence of infectious diseases. Pertinent trends projected for the forecast period include the advent of a portable photodynamic therapy device enabling at-home dermatological PDT treatments, investment in AI-powered PDT for enhanced patient care, product portfolio expansion in cosmetic procedures, continued investment in research and development and a focus on providing photoimmunotherapy devices as well as broadening the portfolio to introduce photothermal therapy.

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What trends are poised to drive the future success of the photodynamic therapy market?
The photodynamic therapy market is witnessing a growing trend of clinical trials focusing on the combination of PDT with various drugs. For example, in February 2024, Kintara Therapeutics, a biotechnology firm based in the United States, embarked on a clinical trial for its REM-001 therapy, which targets cutaneous metastatic breast cancer. The clinical trial, identified as NCT05374915, is an open-label study that involves 15 patients with cutaneous metastatic breast cancer. It evaluates the second-generation photodynamic therapy agent known as REM-001 at a dosage of 0.8 mg. The goal of the study is to refine the design of the trial before proceeding to a Phase 3 trial, with a major emphasis on achieving the Best Overall Objective Response Rate (bORR) within the first 24 weeks of treatment. The primary endpoint involves the assessment of complete and partial responses.

What major market segments define the scope and growth of the photodynamic therapy market?
The photodynamic therapy market covered in this report is segmented -

1) By Product: Drugs, Devices
2) By Application: Actinic Keratosis (AK), Cancer, Acne, Psoriasis, Other Applications
3) By End-User: Cosmetics And Dermatology Clinics, Hospitals, Cancer Treatment Centers, Other End-Users

Subsegments:
1) By Drugs: Photosensitizers, Combination Drug Therapies, Novel Photosensitizer Formulations
2) By Devices: Light Sources (Laser Systems, LED Systems), Delivery Devices (Fiber Optics, Handheld Devices), Treatment Systems (Portable Devices, Fixed Systems)

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Which region dominates the photodynamic therapy market?
North America was the largest region in the photodynamic therapy market in 2024. The regions covered in the photodynamic therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the photodynamic therapy industry growth?
Major companies operating in the photodynamic therapy market include Galderma S.A., Bausch Health, Lumenis Ltd., Sun Pharmaceutical Industries Ltd., Biofrontera, Modlight Inc., PhotoMedex Inc., Soligenix Inc., Quest PharmaTech Inc., Novartis AG, Theralase Technologies Inc., Quantel Medical, Axcan Pharma, Sihealth, MediGlobus, Steba Biotech, Ambicare Health, Nuovo Therapy, Pharmstandard, Rusatom Healthcare, Roche Latvija SIA, Hologic, Inc., Dusa Pharmaceuticals, PDT Pharma Indústria e Comércio de ProdutosFarmacêuticos, MMOptics Ltd, Global Healthcare Solutions Perú, DMC Equipmentos LTDA, Biolite, SyMed LLC, Alma Lasers, Candela Medica, Velt International Group Inc.

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What Is Covered In The Photodynamic Therapy Global Market Report?

• Market Size Forecast: Examine the photodynamic therapy market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the photodynamic therapy market for a structured understanding.
• Key Players Overview: Analyze major players in the photodynamic therapy market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the photodynamic therapy market.
• Segment Contributions: Evaluate how different segments drive overall growth in the photodynamic therapy market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the photodynamic therapy market.
• Industry Challenges: Identify potential risks and obstacles affecting the photodynamic therapy market.
• Competitive Landscape: Review strategic developments in the photodynamic therapy market, including expansions, agreements, and new product launches.

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