Market Overview:
The global photodynamic therapy devices market size is expected to reach USD 12.33 billion by 2032,exhibiting the CAGR of 9.1% during the forecast period
The need for photodynamic therapy devices has grown exponentially as a result of the growing pervasiveness of cancer patients worldwide. The pervasiveness of several kinds of cancer is a prominent driver for PDT devices, which are utilized in the cure of specific cancers. As cancer accounts upsurge, the demand for productive treatment alternatives such as PDT is disposed to escalate. Moreover, continuing technological inventions in medical devices involving PDT devices cause enhanced productivity, security, and efficacy.
Photodynamic therapy is a dual-phase treatment that amalgamates light energy with a drug directed to demolish cancerous and precancerous cells subsequent to light initiation. Photosensitizers are operated by a particular wavelength of light energy, normally from a laser. The photosensitizers are nontoxic before they are operated by light. However, after light initiation, the photosensitizers become toxic to the earmarked tissue.
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Leading Companies
The photodynamic therapy market is highly aggressive and has a robust presence of key players:
- Biolitec AG
- Boston Scientific Corporation
- Candela Corporation
- Coherent Corp.
- Cutera Inc.
- Excel Lasers
- IRIDEX Corporation
- Lumibird Medical
- Modulight USA Inc.
- ShangHai Apolo Medical Technology Co.,Ltd
Key Takeaways from the Report
- The primary factors propelling the market growth of photodynamic therapy devices are investment and philanthropic enterprise, which have been observed for additional inventions and progressive technology in the market.
- The photodynamic therapy devices market analysis is dependent on the product, application, end use, and region.
- North America dominated the market.
- The market in Asia Pacific results from factors such as the region’s growing consciousness of PDT and increasing cases of skin shape and cancer.
Segmental Overview:
Photodynamic Therapy Devices Market, Product Outlook (Revenue – USD Billion, 2019-2032)
- Diode lasers
- Disposable fiber optic light delivery devices
Photodynamic Therapy Devices Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Cancer
- Actinic keratosis
- Acne
- Psoriasis
- Others
Photodynamic Therapy Devices Market, End Use Outlook (Revenue – USD Billion, 2019-2032)
- Hospitals
- Clinics and dermatology centers
- Others
Recent Developments in the Industry
- April 2021 – Lumeda Inc.:
Lumeda Inc., a company specializing in photodynamic therapy (PDT) as an intraoperative adjuvant for patients, successfully concluded its Series A funding round, raising USD 4.3 million. This funding will support the development and application of PDT for various medical treatments. - August 2022 – Asieris Pharmaceuticals:
Asieris Pharmaceuticals announced the completion of the enrollment phase for its international Phase III Clinical Trial of Cevira (APRICITY). Cevira is an innovative non-surgical treatment for cervical high-grade squamous intraepithelial lesions (HSIL). The treatment combines a photodynamic drug-device product, utilizing photosensitizer accumulation in target cells to offer a novel approach to treating HSIL.
Photodynamic therapy (PDT) devices are medical instruments used in photodynamic therapy. This treatment approach involves the use of light-sensitive drugs, known as photosensitizers, in combination with specific wavelengths of light to treat various medical conditions. The photosensitizer is administered to the patient, and when activated by light of a specific wavelength, it produces a form of oxygen that helps destroy nearby cells, including targeted abnormal or diseased cells.