Photodynamic Therapy Market 2022 – Opportunities and Strategies – Global Forecast to 2031
Business Research Company Photodynamic Therapy Market 2022 – Opportunities and Strategies – Global Forecast to 2031
LONDON, GREATER LONDON, UK, July 20, 2022 /EINPresswire.com/ — According to photodynamic therapy market analysis, insurance coverage for photodynamic therapy procedures is expected to drive the market. Because PDT treats superficial types of skin cancer and precancerous lesions, it is covered by insurance plans, including Medicare, and is more affordable than other treatment options, allowing greater access to photodynamic therapy and ensuring that more people can afford the treatment. For example, Medicare typically covers 80% of photodynamic therapy for actinic keratoses. The availability and coverage of insurance for photodynamic therapies is expected to act as a driver for the growth of the photodynamic therapy industry over the period.
Photodynamic therapy market trends include portable photodynamic therapy devices which are being developed by companies for home treatment of skin cancer. The importance of a portable PDT device is in countries where patients have to travel long distances to receive specialized dermatological treatment. Newer portable irradiation devices are small in size and attached to the skin with medical tape. These devices are in the process of being introduced and patented.
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The global photodynamic therapy market size is expected to grow from $1.18 billion in 2021 for $1.68 billion in 2026 at a rate of 7.3%. The market share is then expected to grow at a CAGR of 5.9% from 2026 and reach $2.24 billion in 2031.
Key players covered in the global Photodynamic Therapy industry are Galderma SA, Bausch Health, Lumenis Ltd., Sun Pharmaceutical Industries Ltd.Biofrontera.
North America was the largest region in the global photodynamic therapy market, accounting for 37.2% of the total in 2021. It was followed by Asia Pacific, then the other regions. Going forward, the fastest growing regions in the global photodynamic therapy market will be Asia Pacificand, South America where growth will be at CAGRs of 9.1% and 8.8% respectively.
The TBRC Photodynamic Therapy market report is segmented by Product into Drugs, Devices, by Application in Actinic Keratosis (AK), Cancer, Acne, Psoriasis, Other Applications, by End User in cosmetic and dermatology clinics, hospitals, cancer treatment centers, other end-users.
Photodynamic Therapy Market 2022 – By product (drugs, devices), by application (actinic keratosis (AK), cancer, acne, psoriasis), by end user (Cosmetic And Dermatological Clinicshospitals, cancer treatment centers), And by regionOpportunities And Strategies – Global Forecast To 2031 is part of a series of new reports from The Business Research Society which provides an overview of Photodynamic Therapy market, forecasts Photodynamic Therapy market size and growth for overall market, Photodynamic Therapy market segments, geographies, Photodynamic Therapy market trends Photodynamics, Global Photodynamic Therapy Market Drivers, Constraints, Revenue, Major Competitor Profiles and Market Share.
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