Photodynamic Therapy Devices Market Size Poised To Reach USD 1,002.94 Million By 2030


 San Francisco, 12 April 2024: The Report Photodynamic Therapy Devices Market Size, Share & Trends Analysis Report By Product (Diode Lasers, Disposable Fiber Optic Light Delivery Devices), By Application, By End-use, By Region, And Segment Forecasts, 2024 - 2030

The global photodynamic therapy devices market size is anticipated to reach USD 1,002.94 million by 2030, and it is projected to grow at a CAGR of 8.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth and widespread adoption of PDT devices can be attributed to various key factors. Among these, a primary driving force is the increasing prevalence of cancer and dermatological disorders, leading to a heightened demand for non-invasive and effective treatment options. The global surge in skin cancers, encompassing conditions like basal cell carcinoma and squamous cell carcinoma, has created a demand for efficient treatment methods such as PDT.

In February 2022, data from the World Health Organization (WHO) highlighted that cancer accounted for 10 million deaths worldwide, constituting approximately one in six fatalities in 2020. The number of cancer diagnoses exceeded the number of deaths from cancer. Furthermore, the rising application of photodynamic therapy in conditions such as breast cancer, lung cancer, and others is expected to further propel the segment's growth throughout the forecast period.

Furthermore, key market players play a pivotal role in propelling the market growth. For instance, in August 2022, Asieris Pharmaceuticals marked a significant milestone with the completion of its multinational Phase III Clinical Trial of Cevira (APRICITY). Cevira represents an innovative photodynamic drug-device combination product specifically crafted for the non-surgical treatment of cervical high-grade squamous intraepithelial lesions (HSIL). The engagement of market players and their novel advancements underscores the dynamic nature and continual progress within market.

Access Research Report of Photodynamic Therapy Devices Market @ https://www.grandviewresearch.com/industry-analysis/photodynamic-therapy-devices-market-report

Photodynamic Therapy Devices Market Report Highlights

  • Based on the product, diode lasers segment led the market with the largest market revenue share of 76.18% in 2023, playing a vital role in PDT by offering precise and targeted light sources for activating photosensitizing agents. The compact size, versatility, and wavelength options of diode lasers make them increasingly appealing for healthcare providers, enabling the treatment of diverse medical conditions, including cancer and dermatological disorders
  • In terms of applications, the cancer segment led the market in 2023 with the largest market revenue share of 41.55%. The increasing prevalence of cancer worldwide, along with ongoing technological advancements in PDT devices, has been a driving force for market growth. The success of PDT devices has been propelled by their minimally invasive features, supported by government initiatives, and increased awareness among both healthcare professionals and the general public. This collaborative momentum has firmly established the cancer segment as a key driver in the market
  • Based on end-use, the hospital segment dominated the global market, driven by factors such as the increased adoption of PDT for diverse medical conditions, rising demand for non-invasive treatments in cancer and dermatology, and advancements in PDT technologies. Hospitals, with their expertise and infrastructure, play a pivotal role in efficiently implementing photodynamic therapy, making the hospital segment a key driver for market growth
  • North America dominated the global market with a largest revenue share of 38.34% in 2023. The region's growth is driven by increased healthcare spending, certified professionals, robust healthcare infrastructure, key industry players in the U.S., demand for innovative biologics in cancer treatment, widespread photodynamic therapy adoption, and continuous product launches

Photodynamic Therapy Devices Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 608.13 million

Revenue forecast in 2030

USD 1,002.94 million

Growth rate

CAGR of 8.7% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

List of Key Players in the Photodynamic Therapy Devices Market

  • Boston Scientific Corporation 
  • biolitec AG
  • Lumibird Medical
  • ShangHai Apolo Medical Technology Co.,Ltd
  • Coherent Corp.
  • Modulight USA Inc.
  • IRIDEX Corporation
  • Candela Corporation
  • Cutera Inc.
  • Excel Lasers

Access Press Release of Photodynamic Therapy Devices Market @ https://www.grandviewresearch.com/press-release/global-photodynamic-therapy-devices-market

 

 

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