Photodynamic Therapy Global Market Sees Growth Rate Of 17% Through 2022

The global photodynamic therapy market size is expected to grow from $3.96 billion in 2021 to $4.62 billion in 2022 at a compound annual growth rate (CAGR) of 16.7%. The change in the photodynamic therapy market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $8.33 billion in 2026 at a CAGR of 15.9%.

What is the Global Photodynamic Therapy Market?

The photodynamic therapy market consists of sales of photodynamic therapy products by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling phototherapy treatment drugs, light therapy devices, and related products. Photodynamic therapy (PDT) is a two-stage treatment that combines light energy with a drug (photosensitizer) designed to destroy cancerous and precancerous cells after light activation.

Get a Sample of the global photodynamic therapy market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5246&&type=smp

What drives the Global Photodynamic Therapy Market?

The rising prevalence of skin cancer is contributing to the growth of the photodynamic therapy market. Skin cancer is observed to be the most common cancer of all cancers. Melanoma attributes for only about 1% of skin cancers but causes a large number of skin cancer deaths. Photodynamic treatment (PDT) uses a combination of a light sensitizing medication and very intense light to destroy cancer cells. The doctor applies a light sensitizing chemical-containing lotion to the skin cancer and surrounding area. According to the American Cancer Society, about 106,110 new melanomas were diagnosed (about 62,260 in men and 43,850 in women) in the USA in 2021. Therefore, the increasing prevalence of skin cancer is expected to fuel the growth of the photodynamic therapy market in the coming years.

Get the full global photodynamic therapy industry report here:

Global Photodynamic Therapy Market Segments
The global photodynamic therapy market is segmented:
By Product: Drugs, Devices
By Application: Actinic Keratosis (AK), Cancer, Acne Drugs, Psoriasis, Others
By End-User: Cosmetics and Dermatology Clinics, Hospitals, Cancer Treatment Centers, Others
By Geography: The regions covered in the photodynamic therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Photodynamic Therapy Global Market Report 2022provides market size and growth forecasts for the global photodynamic therapy market, global photodynamic therapy market share, photodynamic therapy market segments and geographies, photodynamic therapy market competitive landscape including leading competitors’ revenues, profiles and market shares. The photodynamic therapy market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Photodynamic Therapy Industry Playersinclude Theralase Technologies Inc., Biofrontera AG, Hologic Inc., Bausch Health, Quest PharmaTech Inc., LUMIBIRD, Galderma Laboratories L.P., Sun Pharmaceutical Industries Limited, Allergan plc and Modulight Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.