The photodynamic therapy market reached a value of nearly $1,183.4 million in 2021, having grown at a compound annual growth rate (CAGR) of 4.3% since 2016. The market is expected to grow from $1,183.4 million in 2021 to $1,682.7 million in 2026 at a rate of 7.3%. The market is then expected to grow at a CAGR of 5.9% from 2026 and reach $2,237.3 million in 2031.
Growth in the historic period resulted from aging population pool, an increase in cancer prevalence, an increase in skin diseases, rising pollution rates, increased healthcare expenditure and growth in the number of healthcare facilities.
Going forward, the rise in healthcare expenditure, insurance coverage for photodynamic therapy, high potential in emerging economies, increasing teenage population, increasing older population, increasing prevalence of cancer and chronic diseases and emergence of infectious diseases will drive the growth. Factors that could hinder the growth of the photodynamic therapy market in the future include COVID-19, photosensitivity reactions and lack of healthcare infrastructure.
The photodynamic therapy market is segmented by product into drugs and devices. The drugs market was the largest segment of the photodynamic therapy market segmented by product, accounting for 67.1% of the total in 2021. Going forward, the devices market is expected to be the fastest growing segment in the photodynamic therapy market segmented by product, at a CAGR of 8.0% during 2021-2026.
The photodynamic therapy market is segmented by application into actinic keratosis (AK), cancer, acne, psoriasis and other applications. The cancer market was the largest segment of the photodynamic therapy market segmented by application, accounting for 40.7% of the total in 2021. Going forward, the cancer market is expected to be the fastest growing segment in the photodynamic therapy market segmented by application, at a CAGR of 8.0% during 2021-2026.
The photodynamic therapy market is segmented by end-user into cosmetics and dermatology clinics, hospitals, cancer treatment centers and other end-users. The cosmetics and dermatology clinics market was the largest segment of the photodynamic therapy market segmented by end-user, accounting for 41.8% of the total in 2021. Going forward, the cancer treatment centers market is expected to be the fastest growing segment in the photodynamic therapy market segmented by end-user, at a CAGR of 8.2% during 2021-2026.
North America was the largest region in the photodynamic therapy market, accounting for 37.2% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the photodynamic therapy market will be Asia Pacific, and, South America where growth will be at CAGRs of 9.1% and 8.8% respectively. These will be followed by Eastern Europe, and Middle East, where the markets are expected to grow at CAGRs of 6.9% and 6.7% respectively.
The photodynamic therapy market was impacted by the disruption caused by the coronavirus outbreak, as patients with cancer are susceptible to viral infections, especially after chemotherapy, stem cell transplants, or surgeries. The closure of dermatology clinics and delay in non-urgent procedures and therapies also affected the market severely. The pandemic has also caused delay in cancer patients’ treatments in various countries. Many hospital facilities were operating as COVID specific wards, hence causing a delay in patient admission, and further delaying treatment. Additionally, primary care patient visits, preventive treatments, diagnostic interventions and nonurgent surgical procedures all trended downward during the pandemic, causing financial hurdles and operational problems for the photodynamic therapy market.
The global photodynamic therapy market is fairly concentrated, and the market has limited number of large players. The top nine competitors in the market made up to 31.23% of the total market in 2020. This can be due to high entry barriers along with high research and development costs associated with drug development and commercialization. Galderma S.A. was the largest competitor with 13.14% share of the market, followed by Bausch Health with 6.27%, Lumenis Ltd. with 4.86%, Sun Pharmaceutical Industries Ltd. with 4.53%, Biofrontera with 1.26%, LUMIBIRD with 0.60%, Modulight Inc. with 0.31%, PhotoMedex Inc. with 0.21% and Soligenix Inc. with 0.04%.
The top opportunities in the photodynamic therapy market segmented by product will arise in the drugs segment, which will gain $316.5 million of global annual sales by 2026. The top opportunities in segment by application will arise in the cancer segment, which will gain $224.3 million of global annual sales by 2026. The top opportunities in segment by end-user will arise in the cosmetics and dermatology clinics segment, which will gain $188.3 million of global annual sales by 2026. The photodynamic therapy market size will gain the most in the USA at $149.2 million.
Market-trend-based strategies for the photodynamic therapy market include introduction of portable photodynamic therapy device that help in at-home dermatological PDT treatments, investing in artificial intelligence enabled PDT for improved treatment of patients, expanding product portfolio in cosmetic procedures, continue to invest in research and development, focus at providing photoimmunotherapy devices and expand portfolio to include photothermal therapy.
Player-adopted strategies in the photodynamic therapy market include developing new laser technology solutions through partnerships and collaborations, developing novel solutions for the prevention and treatment of skin cancer, focusing on robust research and development for launching new photodynamic therapy (PDT) products and increasing the reach of its products into key markets for consumers.
To take advantage of the opportunities, the publisher reccomends the photodynamic therapy companies to focus on use of artificial intelligence, focus on research and development, develop portable photodynamic therapy devices, expanding in emerging markets, scale up through merger and acquisition activity, provide competitively priced offerings in low-income countries, collaborate with insurance companies to make therapy affordable, offer bundled payments, focus on patient referral systems, focus on direct marketing, build strategic relationships with large-scale end-users and focus on priority to critical cases.
What is the estimated value of the Global Photodynamic Therapy Market?
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|No. of Pages||266|
|Forecast Period||2021 - 2031|
| Estimated Market Value ( USD ||$ 1183.4 Million|
| Forecasted Market Value ( USD ||$ 2237.3 Million|
|Compound Annual Growth Rate||6.6%|
Table of Contents1. Photodynamic Therapy Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
7. Segmentation by Geography
8. Segmentation by Product
9. Segmentation by Application
10. Photodynamic Therapy Market Characteristics
11. Segmentation by End-User
12. Segmentation by Product
15. Segmentation by Application
16. Actinic Keratosis (AK)
20. Other Applications
21. Segmentation by End-User
22. Cosmetics And Dermatology Clinics
24. Cancer Treatment Centers
25. Other End-Users
26. Photodynamic Therapy Market Trends And Strategies
27. Portable Photodynamic Therapy (PDT) Device
28. Use Of Artificial Intelligence In Photodynamic Therapy
29. Use Of Photodynamic Therapy In Cosmetic Procedures
30. Continuous Research And Development
31. Photoimmunotherapy (PIT)
32. Photothermal Therapy
33. Impact Of COVID-19 On The Photodynamic Therapy
35. Photodynamic Therapy Clinical Studies For COVID-19 Treatment
36. Resource Shortage
37. Rise In Skin Disorders
38. Future Outlook
39. Global Photodynamic Therapy Market Size And Growth
40. Market Size
41. Historic Market Growth, 2016 - 2021, Value ($ Million)
42. Drivers Of The Market 2016 - 2021
43. Restraints On The Market 2016 - 2021
44. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
45. Drivers Of The Market 2021 - 2026
46. Restraints On The Market 2021 - 2026
47. Global Photodynamic Therapy Market Segmentation
48. Global Photodynamic Therapy Market, Segmentation by Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
49. Global Photodynamic Therapy Market, Segmentation by Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
50. Global Photodynamic Therapy Market, Segmentation by End-User, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
51. Photodynamic Therapy Market, Regional And Country Analysis
52. Global Photodynamic Therapy Market, by Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
53. Global Photodynamic Therapy Market, by Country, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
54. Asia-Pacific Photodynamic Therapy Market
55. Asia Pacific Photodynamic Therapy Market Overview
56. Region Information
57. Market Information
58. background Information
59. Government Initiatives
61. Regulatory bodies
62. Major Associations
63. Taxes Levied
65. Major Companies
66. Asia-Pacific Photodynamic Therapy Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
67. Asia-Pacific Photodynamic Therapy Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
68. Asia-Pacific Photodynamic Therapy Market, Segmentation by Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
69. Asia-Pacific Photodynamic Therapy Market, Segmentation by End-User, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
70. Photodynamic Therapy Market Competitive Landscape And Company Profiles
71. Company Profiles
72. Galderma S.A.
73. Company Overview
74. Products And Services
75. Financial Overview
76. Key Mergers And Acquisitions In The Photodynamic Therapy Market
77. Fluoguide Acquired Rights To Photothermal Therapy
78. DelMar Acquired Adgero biopharmaceuticals
79. Velt International Group Inc. Acquired THF International
80. Photodynamic Therapy Market Opportunities And Strategies
81. Global Photodynamic Therapy Market In 2026 - Countries Offering Most New Opportunities
82. Global Photodynamic Therapy Market In 2026 - Segments Offering Most New Opportunities
83. Global Photodynamic Therapy Market In 2026 - Growth Strategies
84. Market Trend based Strategies
85. Competitor Strategies
86. Photodynamic Therapy Market, Conclusions And Recommendations
95. List of Figures
96. List of Tables
97. Market Data Sources
98. Research Methodology
100. Research Inquiries
101. About the Publisher
102. Copyright and Disclaimer
Photodynamic Therapy Global Market Opportunities And Strategies To 2031: COVID-19 Implications And Growth provides the strategists; marketers and senior management with the critical information they need to assess the global photodynamic therapy market as it emerges from the COVID 19 shut down.
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Where is the largest and fastest growing market for photodynamic therapy? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The photodynamic market global report answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider photodynamic therapy market; and compares it with other markets.
The report covers the following chapters:
- Executive Summary - The executive summary section of the report gives a brief overview and summary of the report.
- Report Structure - This section gives the structure of the report and the information covered in the various sections.
- Introduction - The introduction section of the report gives brief introduction about segmentation by geography, segmentation by product, segmentation by application, and segmentation by end-user.
- Market Characteristics - The market characteristics section of the report defines and explains the photodynamic therapy market. This chapter also defines and describes goods and related services covered in the report.
- Trends And Strategies - This chapter describes the major trends shaping the global photodynamic therapy market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
- Impact Of COVID-19 - This chapter discusses the impact of COVID-19 on the photodynamic therapy market.
- Global Market Size And Growth - This section contains the global historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional Analysis - This section contains the historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values and growth and market share comparison by region.
- Segmentation - This section contains the market values (2016-2031) and analysis for different segments.
- Regional Market Size and Growth - This section contains the region’s market size (2021), historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region. The market overview sections of the report describe the current size of the market, background information, government initiatives, regulations, regulatory bodies, associations, corporate tax structure, investments, and major companies.
- Competitive Landscape - This section covers details on the competitive landscape of the global photodynamic therapy market, estimated market shares and company profiles for the leading players.
- Key Mergers And Acquisitions - This chapter gives the information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions And Recommendations - This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for photodynamic therapy providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
- 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
Galderma S.A., Bausch Health, Lumenis Ltd., Sun Pharmaceutical Industries Ltd., Biofrontera
China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Five years historic and ten years forecast.
Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; photodynamic therapy indicators comparison.
country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:
Data and analysis throughout the report is sourced using end notes.
A selection of companies mentioned in this report includes:
- Galderma S.A.
- Bausch Health
- Lumenis Ltd.
- Sun Pharmaceutical Industries Ltd.