Photodynamic Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Photodynamic Therapy Market is Segmented by Product (Photosensitizer Drugs, Photodynamic Therapy Devices), by Applications, by End-User and Geography

Photodynamic Therapy Market Snapshot

 Photodynamic Therapy Market Size
Study Period: 2018 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.5 %

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Market Overview

The global photodynamic therapy market is projected to grow with a CAGR of nearly 5.7% over the forecast period. The growth is primarily attributed to the growing prevalence of cancer cases around the world coupled with the growing awareness related to the early diagnosis and treatment of cancer. According to GLOBCAN, an estimated 18.1 million new cancer cases were found in the year 2018, and it is anticipated to grow over the future. Furthermore, developments in device technologies coupled with the increasing R&D on drugs use in photodynamic therapy is anticipated to fuel the market growth over the forecast period. 

However, the high cost of photodynamic therapy devices, stringent regulatory policies and risk associated with the photodynamic therapy are anticipated to hamper the market growth.

Scope of the Report

As per the scope of the report, photodynamic therapy refers to the destruction of abnormal cells using photosensitive medicine along with the light source. It is used in a variety of the cancerous and pancreatic conditions. For skin cancers, the drug is placed on the skin or near the skin. For other types of cancers, the drug is given through IV infusion. 

By Product
Photosensitizer Drugs
Aminolevulinic Acid
Porphyrin Derivatives
Chlorines
Others
Photodynamic Therapy Devices
Diode Lasers
Disposable Fiber Optic Light Delivery Devices
By Applications
Cancer
Actinic Keratosis
Acne
Psoriasis
Others
By End-User
Hospitals
Cancer Treatment Centers
Cosmetic and Dermatology Clinics
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Drugs Segment is Anticipated to Grow Significant Rate

  • Photosensitizers are the chemical components/drugs which are used along with the light to treat different types of cancers. Photosensitizers absorb the light and change into another form which in turn destroys the cancer cells.
  • There are many drugs that are approved by the regulatory authorities around the world to treat cancer. Moreover, growing R&D investment by the market players to discover the new photosensitizers to improve the clinical outcomes is anticipated to boost the market growth over the forecast period.
  • Photodynamic therapy devices are anticipated to witness lucrative growth owing to the advancements in technology which has reduced side effects coupled with growing awareness among the general population.
  • In the applications segment, oncology is anticipated to lead market growth. This is due to the increase in the cancer cases coupled with the growing adoption of photodynamic therapy for the treatment. Moreover, the growing application of photodynamic therapy such as breast cancer, lung cancer and others are anticipated to fuel the segment growth over the forecast period.
Photodynamic Therapy Market Share

North America Anticipated to Have Significant Growth

North America represents significant share in global photodynamic therapy market. This is due to the growing number of cancer cases, well-established healthcare infrastructure coupled with the presence of key market players in the region. According to the International Agency on Cancer Research, in 2018, the Americas have 13.3% of the global population and represents 21% of the global cancer incidents and 14% of the modalities worldwide. Whereas Europe represents, 23.4% of the global cancer cases. Factors such as the increase in adoption of photodynamic therapy in Europe, recent product launches and growth in cancer cases are anticipated to bolster the regional growth over the forecast period. Among the regions, Asia Pacific region is anticipated to have lucrative market growth due to developing healthcare infrastructure, growing prevalence of cancer and increasing disposable income.

Photodynamic Therapy Market Growth

Competitive Landscape

The market studied is moderately fragmented. Market players are focusing on new product launches, product innovations and geographical expansion. The key market players operating in the market include BIOFRONTERA AG, Lumibird (Quantel Medical),  Galderma S.A., Bausch Health Companies Inc. and  Sun Pharmaceutical Industries Limited. among others.

Recent Development

  • In June 2020, Sun Pharmaceutical Industries Ltd. through its wholly-owned subsidiaries presented data analyses for ODOMZO (sonidegib) and LEVULAN KERASTICK (aminolevulinic acid HCl) + BLU-U to healthcare providers treating patients with risk for different types of skin cancer​.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Prevalence of Cancer Around the World

      2. 4.2.2 Advancements in Device Technologies

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Photodynamic Therapy

      2. 4.3.2 Risk and Side Effects Associated With The Therapy

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Photosensitizer Drugs

        1. 5.1.1.1 Aminolevulinic Acid

        2. 5.1.1.2 Porphyrin Derivatives

        3. 5.1.1.3 Chlorines

        4. 5.1.1.4 Others

      2. 5.1.2 Photodynamic Therapy Devices

        1. 5.1.2.1 Diode Lasers

        2. 5.1.2.2 Disposable Fiber Optic Light Delivery Devices

    2. 5.2 By Applications

      1. 5.2.1 Cancer

      2. 5.2.2 Actinic Keratosis

      3. 5.2.3 Acne

      4. 5.2.4 Psoriasis

      5. 5.2.5 Others

    3. 5.3 By End-User

      1. 5.3.1 Hospitals

      2. 5.3.2 Cancer Treatment Centers

      3. 5.3.3 Cosmetic and Dermatology Clinics

      4. 5.3.4 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 BIOFRONTERA AG

      2. 6.1.2 Lumibird (Quantel Medical)

      3. 6.1.3 Galderma S.A.

      4. 6.1.4 Bausch Health Companies Inc.

      5. 6.1.5 Sun Pharmaceutical Industries Limited

      6. 6.1.6 Soligenix

      7. 6.1.7 biolitec AG

      8. 6.1.8 Modulight, Inc.

      9. 6.1.9 Theralase Technologies Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Photodynamic Therapy Market market is studied from 2018 - 2026.

The Photodynamic Therapy Market is growing at a CAGR of 7.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

BIOFRONTERA AG, Lumibird (Quantel Medical), Galderma S.A., Bausch Health Companies Inc., Sun Pharmaceutical Industries Limited are the major companies operating in Photodynamic Therapy Market.

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