2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Are the Primary Drivers Supporting the Market Growth of thePhotodynamic Therapy Market?

The growth of the photodynamic therapy market is being fueled by the increasing incidence of skin cancer, which is the most common cancer of all cancers. Melanoma only accounts for about 1% of skin cancer, but it is responsible for a significant number of fatalities. Photodynamic therapy (PDT), which uses a mixture of a light-activated drug and a high-intensity light to kill cancer cells, is becoming increasingly popular. A lotion containing a light-activated chemical is applied by a doctor to the skin cancer and its surrounding area. As per the American Cancer Society’s January 2024 report, skin cancer is the most widespread cancer in the U.S., with melanoma accounting for 1% of cases but causing most deaths related to skin cancer. Additionally, an estimated 100,640 new melanoma cases will be identified in the U.S. in 2024, of which roughly 59,170 will be men and 41,470 women. Furthermore, melanoma is expected to cause about 8,290 deaths, including about 5,430 men and 2,860 women. Thus, the escalating cases of skin cancer are anticipated to promote photodynamic therapy market growth in the future.

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What is the Predicted Annual Growth Rate of thePhotodynamic Therapy Market Impact Industry Trends by 2034?

The market size for photodynamic therapy has significantly expanded over recent years. The value is projected to rise from $1.45 billion in 2024 to $1.55 billion in 2025, presenting a compound annual growth rate (CAGR) of 7.0%. Various factors have contributed to the growth in the historic period, including a growing elderly population, a surge in cancer instances, an escalation in skin disease cases, a rise in pollution levels, increased spending on healthcare, and an expanded number of healthcare institutions.

The market for photodynamic therapy is projected to witness robust growth in the foreseeable future, with its value estimated to reach $2 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.5%. This increment in the forecast period is ascribed to factors such as increased spending on health care, insurance coverage for photodynamic therapy, high growth potential in developing economies, growing teenage and elderly population, rising cases of cancer and chronic diseases, and the emergence of infectious diseases. Key trends during the forecast period include the launch of a portable device for photodynamic therapy enabling at-home dermatological PDT treatments, capital investments in AI-enhanced PDT for better patient treatment, diversification in the cosmetic procedures product range, sustained investment in R&D, and attempts to provide photoimmunotherapy devices and widen the product range to incorporate photothermal therapy.

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What Are the Latest Innovations Influencing thePhotodynamic Therapy Market?

The photodynamic therapy market’s entities are putting forth greater efforts towards clinical trials of PDT combined with various drugs. An example of this occurred in February 2024 when Kintara Therapeutics, a biotechnology firm based in the US, commenced a clinical trial for their REM-001 therapy, which focuses on cutaneous metastatic breast cancer. Involving 15 patients with CMBC, this open-label study (clinical trial NCT05374915) assesses the second-generation photodynamic therapy agent REM-001 at a dosage of 0.8 mg. The aim of this trial is prioritizing the optimization of the study’s design before proceeding to a Phase 3 trial and emphasizes the Best Overall Objective Response Rate (bORR) in treatment fields within a period of 24 weeks. The study’s main endpoint is the measurement of both complete and partial responses.

Who Are the Major Industry Players Accelerating Growth in thePhotodynamic Therapy Market?

Major companies operating in the photodynamic therapy market include Galderma S.A., Bausch Health, Lumenis Ltd., Sun Pharmaceutical Industries Ltd., Biofrontera, Modlight Inc., PhotoMedex Inc., Soligenix Inc., Quest PharmaTech Inc., Novartis AG, Theralase Technologies Inc., Quantel Medical, Axcan Pharma, Sihealth, MediGlobus, Steba Biotech, Ambicare Health, Nuovo Therapy, Pharmstandard, Rusatom Healthcare, Roche Latvija SIA, Hologic, Inc., Dusa Pharmaceuticals, PDT Pharma Indústria e Comércio de ProdutosFarmacêuticos, MMOptics Ltd, Global Healthcare Solutions Perú, DMC Equipmentos LTDA, Biolite, SyMed LLC, Alma Lasers, Candela Medica, Velt International Group Inc.

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Which Primary Segments of the Photodynamic Therapy Market Are Driving Growth and Industry Transformations?

The photodynamic therapy market covered in this report is segmented –

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

Subsegments:

1) By Drugs: Photosensitizers, Combination Drug Therapies, Novel Photosensitizer Formulations

2) By Devices: Light Sources (Laser Systems, LED Systems), Delivery Devices (Fiber Optics, Handheld Devices), Treatment Systems (Portable Devices, Fixed Systems)

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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of thePhotodynamic Therapy Market?# Market?

North America was the largest region in the photodynamic therapy market in 2024. The regions covered in the photodynamic therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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