Albany, NY -- (SBWIRE) -- 09/23/2020 -- TMR's report on the global photodynamic therapy market studies the past as well as current growth trends and opportunities to gain valuable insights for the said market during the forecast period, i.e. from 2019 to 2027. The report provides the overall market revenue of the global photodynamic therapy market for the 2017 - 2027 period, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compounded annual growth rate (CAGR) for the global photodynamic therapy market for the same period.
The report has been prepared after extensive research. Primary research involves bulk of the research efforts, wherein, analysts have conducted interviews with market leaders and opinion makers. Extensive secondary research involves referring to key players' product literature, annual reports, press releases, and relevant documents to understand the global photodynamic therapy market.

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Global Photodynamic Therapy market Witness Most Promising Rise in Demand:

Cancer is projected to account for the highest revenue amongst all applications in the photodynamic therapy market, with an estimated value of ~US$ 2.3 billion by the end of 2023. This is why, healthcare companies are increasing awareness about PDT amongst breast cancer resistant patients. As such, PDT is being used as an alternative to broad-spectrum antibiotics-based therapy, thus minimizing the incidence of drug resistance. Companies are also increasing R&D to assess PDT-resistant cells to further study the impact of PDT on cellular targets. Healthcare providers are increasing their efficacy in PDT technology to achieve therapeutic relevance in appropriate photosensitizer (PS) level with its retention in the target tissue.
Growing incidence of actinic keratosis (AK) have led to innovations in the photodynamic therapy market. Dermoscopy serves as a useful tool for monitoring skin lesions during PDT and follow-up. Healthcare providers in the photodynamic therapy landscape are treating actinic keratosis (AK) patients with aminolevulinic acid (ALA) drugs. ALA agents are increasingly gaining popularity, and are anticipated to account for the highest revenue amongst all drugs in the photodynamic therapy market, with a projected value of ~US$ 4 billion by the end of 2027. Thus, healthcare providers in hospitals and dermatology clinics are offering topical ALA-PDT, since the treatment is widely approved by health commissions across various countries.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

Key Players of Photodynamic Therapy Market Report:

- Key players in the global photodynamic therapy market have been profiled based on attributes such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies.
- Major companies profiled in the global photodynamic therapy market report are -
o Biofrontera AG
o Theralase Technologies Inc.
o Lumibird
o Quest PharmaTech Inc.
o Modulight, Inc.
o Galderma Laboratories L.P. (Nestlé)
o Sun Pharmaceutical Industries Ltd.
o SUS Advancing Technology Co., Ltd.