According to the report, the Global Photodynamic Therapy Market accounted for over US$ 900 million in 2019. The market is anticipated to grow at a CAGR of 16.6% from 2019 to 2030.
New York, NY -- (SBWIRE) -- 03/06/2020 -- The market growth can be attributed to several factors, which have led to its wide-scale adoption. The increasing prevalence of skin disorders & cancers and the approval of new biologics for photodynamic therapy are anticipated to further contribute to this substantial market growth during the forecast period. However, risks and side effects associated with the therapy are likely to restrain market growth to a certain extent.
Market Industry Reports (MIR) has published a new report titled "Photodynamic Therapy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030." According to the report, the Global Photodynamic Therapy Market accounted for over US$ 900 million in 2019. The market is anticipated to grow at a CAGR of 16.6% from 2019 to 2030.
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Photodynamic Therapy Market Prominent Players:
Some of the prominent players in the photodynamic therapy market include Sun Pharmaceutical Industries Ltd., BIOFRONTERA AG, Theralase Technologies Inc., LUMIBIRD, Quest PharmaTech Inc., Modulight, Inc., Galderma, Suslaser.com, Biolitec AG, and Bausch & Lomb, among others.
Scope of Report:
The increasing prevalence of cancers and skin disorders, such as actinic keratosis, psoriasis, acne, rosacea, etc., is expected to further promote the adoption of photodynamic therapy, which will attract revenue growth in the photodynamic therapy market globally. According to GLOBCAN, approximately 18.1 million new cancer cases were found in 2018. Furthermore, as per the American Academy of Dermatology, as of 2017, 2.1% of the total population of the U.S. suffered from psoriasis, which accounted for approximately 7.0 million.
Regional Analysis:
Asia Pacific is the fastest-growing market for photodynamic therapy and is anticipated to contribute significantly to the global market share. The growth in this region can be attributed to the growing prevalence of cancer and rising awareness regarding photodynamic therapy & its advantages among healthcare professionals. Countries in the APAC region, including India, China, and Japan, are anticipated to provide significant growth opportunities for the global photodynamic therapy market due to developing healthcare infrastructure and increasing disposable income.
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Table of Contents
1. INTRODUCTION
1. Market Definition
2. Market Classification
3. Geographic Scope
4. Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecast Years – 2019 to 2030
5. Currency Used
2. RESEARCH METHODOLOGY
1. Research Framework
2. Data Collection Technique
3. Data Sources
1. Secondary Sources
2. Primary Sources
4. Market Estimation Methodology
1. Bottom Up Approach
2. Top Down Approach
5. Data Validation and Triangulation
1. Market Forecast Model
2. Limitations/Assumptions of the Study
3. ABSTRACT OF THE STUDY
4. MARKET DYNAMICS ASSESSMENT
1. Overview
2. Drivers
3. Barriers/Challenges
4. Opportunities
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