PMI
The “Photodynamic Therapy Devices Market” from 2024 to 2034 includes segments by Product Type (Photosensitizers, Aminolevulinic Acid, Porphyrin Derivatives, Chlorine, Others), by Application (Cancer, Actinic Keratosis, Acne, Psoriasis, Others), and by Region (2024-2034) forecast, perfectly combining market strategies and industry expertise with new cutting-edge technologies to provide you with the best experience.
COVINA, July 30, 2024 (GLOBE NEWSWIRE) — According to Prophecy Market Insights, the global photodynamic therapy devices market size and share is expected to expand from USD 2.1 billion in 2024 to USD 15.8 billion in 2034, exhibiting a compound annual growth rate (CAGR) of 24.8% during the forecast period (2024-2034).
Photodynamic Therapy Devices Market Report Overview and Introduction
Photodynamic therapy equipment in the medical technology industry deals with equipment classified as photodynamic therapy. Photodynamic therapy is a treatment that targets specific cells and kills them by generating reactive oxygen species with light and photosensitizers. It is one of the popular minimally invasive treatments for psoriasis, acne, and skin cancer. It is expected to grow exponentially due to the increasing number of cancer cases, the expansion of therapeutic applications, and the continuous development of light sources, delivery systems, and photosensitizers. Since PDT is precise and focused to address various medical needs, it is expected to soon be adopted as the most common treatment. PDT is an important treatment in the treatment of various types of skin malignancies as the incidence of skin cancer is increasingly rising.
Treatment of psoriasis, acne vulgaris, and actinic keratosis using PDT devices has prolonged the market. Innovations such as better light sources and distribution systems are expanding the business. These innovations include an increase in the wavelength of light that increases the tissue penetration depth. Also, new photosensitizing drugs that are more efficient and specifically developed may contribute to further growth of the market. Developments are ongoing and there are several markets for PDT devices.
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Market Research Overview and Introduction
Market Revenue and CAGR
Market Drivers and Restraints
Major Market Players
Regional analysis of the market with detailed graphs
Detailed market segmentation in tabular format
Recent Market Trends/News
Market Opportunities and Challenges
The story continues
Competitive Landscape:
The photodynamic therapy devices market is characterized by rapid growth, technological innovation, and intense competition. To stay competitive, companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings.
Some of the major market players:
Galderma
Biofrontera AG
Sun Pharmaceutical Industries Co., Ltd.
LUMIBIRD Group (Quantel Medical)
Modulite Co., Ltd.
Quest Pharmatech Co., Ltd.
Cellarase Technologies, Inc.
SUS Advancing Technology Co., Ltd.
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Market Trends:
driver:
The incidence of cancer is on the rise.
The increasing number of cancer patients and ageing population is driving the demand for PDT devices. New developments in the field of technologies for early detection of cancer have led to new patient groups being amenable to PDT, with advantages such as minimally invasiveness, quick recovery, and possibility of combination therapy driving this market.
Aging society and PDT
The world’s population is aging. This demographic change is important for the medical device industry and the healthcare industry as a whole. Older adults are more likely to suffer from chronic diseases, cancer being one of them. PDT is a minimally invasive treatment, making it suitable for older patients who may not be able to tolerate traditional treatments. The increasing prevalence of age-related diseases such as macular degeneration is also creating new opportunities in the application of PDT. PDT also meets the growing need for more affordable treatments, as it reduces hospitalizations, improves patient outcomes, and potentially lowers the cost of treatment.
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Market trend:
Rising medical costs
Improvements in healthcare infrastructure and associated technologies have contributed to the growth of the PDT devices market. Thus, healthcare providers and investors, from government funds to private investors, are increasingly realizing the potential of PDT as a cost-effective and efficient treatment. Hence, PDT has started to be applied in clinical practice, which is further supported by research and development funding. However, the entry of the healthcare sector, driven by rising disposable income and economic prosperity, has created the necessary environment for the commercialization of PDT devices.
segmentation:
The photodynamic therapy devices market is segmented based on product type, application, and region.
Product Type Insights
In photodynamic therapy, there is a great need for photosensitizers that collect in target tissues and activate light to release reactive oxygen species, causing cell death. When taken topically or inhaled, aminolevulinic acid, an endogenous precursor molecule in the porphyrin biosynthetic pathway, selectively accumulates in precancerous or malignant cells. Advantages of synthetic drugs include being porphyrins or porphyrin derivatives with good light absorption and long tissue retention. Chlorine-based photosensitizers, which are in clinical trials, have good tissue penetration and excellent drug delivery to the target. Drugs such as fullerene and phthalocyanine compounds have some special properties.
Application Insights
PDT devices are finding applications in many areas, including psoriasis, acne, cancer, and other diseases. Cancer accounts for the largest application area due to the minimally invasive nature of PDT devices used to treat many types of skin cancer. Another major application is actinic keratosis, where PDT devices are used to treat the early stages and are easy to treat. They are also used to treat moderate to severe acne, as they reduce inflammation by identifying and destroying the bacteria that aggravate inflammation. PDT devices are under research and development for age-related macular degeneration, bacterial infections in body cavities or wounds. The psoriasis PDT device business is in its very early stages and we can expect a lot to come soon. Therefore, it is predicted that PDT will continue to grow in these areas and further advance the treatment of many diseases.
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Recent developments:
In June 2024, Biofrontera announced the launch of its new FDA-approved red light source, the RhodoLED XL Lamp. This new device represents a leap in innovation in PDT treatment, with cutting-edge engineering, robust and sleek construction, and an intuitive user interface that should allow for easy mobility during the treatment process and accommodate a variety of patient postures.
Regional Insights
North America: Currently, North America holds a large share of the industry for a number of reasons. Firstly, PDT machines are easily deployed in well-staffed and equipped medical centers such as hospitals and clinics. PDT is one of the modern medical procedures that is relatively accessible to patients in North America.
Asia Pacific: Rising disposable incomes and increased government investments in healthcare infrastructure are expected to drive the PDT devices market growth in this region at the fastest pace over the next few years. Similar to North America, the PDT market in Asia Pacific is also expected to grow due to the increasing number of skin cancer cases.
Read the detailed report on “Photodynamic Therapy Devices Market Size, Share, By Product Type (Photosensitizers, Aminolevulinic Acid, Porphyrin Derivatives, Chlorine, Others), By Application (Cancer, Actinic Keratosis, Acne, Psoriasis, Others), By Region – Trends, Analysis and Forecast to 2034” with complete TOC @ https://www.prophecymarketinsights.com/market_insight/photodynamic-therapy-devices-market-5531
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