Increasing Prevalence Of Skin Cancer Fuels Photodynamic Therapy Market Revenue

The Business Research Company’s Photodynamic Therapy Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 16, 2022 /EINPresswire.com/ -- 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.

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%.

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https://www.thebusinessresearchcompany.com/report/photodynamic-therapy-global-market-report

Global photodynamic therapy industry trends include players increasingly focusing on clinical trials for PDT in combination with different drugs. For instance, Biofrontera AG, a German-based biopharmaceutical player, launched its Phase III clinical trial assessing the safety and effectiveness of photodynamic therapy with Ameluz and the BF-RhodoLED lamp for the use in the diagnosis of actinic keratoses (AK). The clinical study reported positive results.

Major players covered in the global photodynamic therapy industry are 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.

TBRC’s global photodynamic therapy market analysis report is segmented by product into drugs, devices, by application into actinic keratosis (AK), cancer, acne drugs, psoriasis, others, by end-user into cosmetics and dermatology clinics, hospitals, cancer treatment centers, others.

Photodynamic Therapy Global Market Report 2022 – By Product (Drugs, Devices), By Application (Actinic Keratosis (AK), Cancer, Acne Drugs, Psoriasis), By End-User ( Cosmetics And Dermatology Clinics, Hospitals, Cancer Treatment Centers)– Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a photodynamic therapy market overview, forecast photodynamic therapy market size and growth for the whole market, photodynamic therapy market segments, geographies, photodynamic therapy market trends, photodynamic therapy market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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