Photodynamic Therapy Market Projection By Technology, Top Key Players, Demand, Segment, Regional Analysis Revenue Forecast Till – 2029

Posted on 2022-04-14 by Future Market Insights, Inc in Healthcare, Pharmaceuticals // 0 Comments

New York, United States, 2022-Apr-14 — /EPR Network/ —

Photodynamic Therapy Market 2022

The Photodynamic Therapy Market is expected to witness a strong In Upcoming Years. The ongoing trend speaks of digital transformation. In other words, it’s about the provision of digital solutions being tabled all across. The big thing is that the key stakeholders can’t afford to keep digital technology in a silo. Unification is the need of the hour so that anytime-anywhere access is possible. The enterprise is slated to move with the same mindset in the forecast period.

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The Photodynamic Therapy (PDT) market is primarily dominated by the sales of photosensitizer drugs. As seen in drug development, market players are increasing the complexity of drug molecules to prevent them from being replicated by competitors. Similarly, in the photodynamic therapy market, players offering treatment avenues are seeking innovative routes to the market through the launch of combination products that involve a photosensitizer drug and a device.

Discussions about the market indicate that dermatology is a highly fragmented market with large unmet needs and limited innovations. To cater to these requirements, companies are seeking inorganic routes such as the acquisition of DUSA by Sun Pharmaceutical for US$ 200 Mn.

This acquisition helped Sun Pharmaceutical access DUSA’s patented drug?device combination Levulan, which is useful for photodynamic therapy for the treatment of Actinic Keratosis (AK), psoriasis, and acne.Thus, the foray of market players into the drug-device combination segment, coupled with increasing product research in light therapy devices, and the high adoption of photosensitizer drugs for photodynamic therapy, are among factors that are estimated to propel the photodynamic therapy market.

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The prevalence of various skin diseases, such as actinic keratosis, psoriasis, acne, rosacea, and others, varies across the globe. It depends upon the genetic makeup, skin type, as well as the lifestyle of people in a particular geography.

Australia has the highest prevalence of actinic keratosis, and it has been estimated that 37–55% people in the country are affected with actinic keratosis. In the U.S., actinic keratosis is estimated to affect 10% of females and 26.5% males, while the prevalence of actinic keratosis in the UK is 15% in males and 6% in females. Thus, the growing prevalence of actinic keratosis is a significant factor that is projected to drive the revenue growth of the photodynamic therapy market over the forecast period.

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Competitive Landscape

The competition section of the photodynamic therapy market features the profiles of the key players operating in the market based on their shares, differential strategies, product offerings, marketing approach, and company dashboard.

Some of the key players operating in the photodynamic therapy market include Sun Pharmaceutical Industries Ltd., Galderma SA, and Biofrontera AG, which offer photosensitizer drugs, as well as Allergan Plc., Hologic, Inc., and Quest PharmaTech Inc., which offer therapy devices.

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