Photodynamic Therapy Market Size to Attain USD 8.42 Bn by 2033

The global photodynamic therapy market size was valued at USD 4.3 billion in 2023 and is projected to reach 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.

The Photodynamic Therapy (PDT) market is a dynamic and evolving sector within the healthcare and medical technology industry. PDT is a non-invasive treatment modality that utilizes photosensitizing agents, light, and oxygen to selectively destroy or control diseased cells. This innovative approach has gained significant attention in recent years for its potential in treating various medical conditions, including cancer and certain dermatological disorders.

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Growth Factors

The market for Photodynamic Therapy is experiencing substantial growth due to several key factors. Firstly, advancements in research and technology have led to the development of more efficient photosensitizing agents and targeted light delivery systems, enhancing the therapeutic efficacy of PDT. Additionally, the growing prevalence of cancer and skin-related disorders worldwide has increased the demand for alternative and less invasive treatment options, further propelling the adoption of PDT.

Furthermore, the increasing awareness among both healthcare professionals and patients about the benefits of PDT, such as minimal side effects and reduced recovery times, has contributed to its widespread acceptance. Moreover, ongoing clinical trials exploring new applications of PDT and expanding regulatory approvals for existing treatments are driving the market’s growth trajectory.

Photodynamic Therapy Market Scope

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Opportunities

The Photodynamic Therapy market presents several opportunities for stakeholders. The rising incidence of cancer, especially skin cancers, provides a significant growth avenue. Moreover, as the technology matures, there is potential for PDT to be integrated into multidisciplinary treatment approaches, offering more comprehensive solutions for patients with complex medical conditions. Collaborations between pharmaceutical companies, research institutions, and healthcare providers can further drive innovation and create opportunities for novel applications of PDT.

The expanding geriatric population, which is more susceptible to certain medical conditions that can be addressed by PDT, presents an additional growth opportunity. Furthermore, the market could benefit from increased investment in awareness campaigns, educating both healthcare professionals and the general public about the advantages of Photodynamic Therapy.

Challenges

Despite its promising prospects, the Photodynamic Therapy market faces challenges. One significant hurdle is the need for further research and development to optimize treatment protocols, enhance the selectivity of photosensitizing agents, and address potential adverse effects. Reimbursement issues and the high initial costs associated with PDT equipment may also impede its widespread adoption, particularly in regions with limited healthcare resources.

Another challenge is the competition from conventional treatment modalities, such as surgery, radiation therapy, and chemotherapy, which have established track records and are deeply ingrained in clinical practices. Overcoming skepticism within the medical community and establishing PDT as a mainstream therapeutic option will require concerted efforts in research, education, and collaboration.

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.

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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