Dublin, March 11, 2024 (GLOBE NEWSWIRE) -- The "Global Photodynamic Therapy Devices Market Analysis & Forecast to 2024-2034: Market By Product; By Application; By End-user; and By Region" report has been added to ResearchAndMarkets.com's offering.
In this comprehensive analysis, the global market for photodynamic therapy devices has been observed to undergo substantial growth in the upcoming decade. The report provides a meticulous forecast for the years 2024 to 2034, highlighting the advancements, trends, and economic prowess within the industry.
The burgeoning market size, which stood at USD 560 million in 2023, is projected to escalate to a valuation of USD 1.41 billion by 2034, with a robust Compound Annual Growth Rate (CAGR) of 8.73%. Significant factors propelling the growth include the heightened prevalence of skin malignancies, the embrace of minimally invasive medical treatments, and heightened public awareness of photodynamic therapy's benefits.
The lucrative sector of diode lasers led the product segment in terms of revenue in 2023, owing to cutting-edge technological progressions, which continually refine therapeutic accuracy and efficacy. Moreover, the application segment for cancer treatment was the largest revenue contributor, reflecting an increased demand for innovative oncological treatments. Another key insight from the report suggests the actinic keratosis application is poised for the quickest CAGR acceleration due to a rise in condition prevalence and regulatory clearances.
Within the landscape of end-users, hospitals retained the highest revenue influx, accredited to the diversification of photodynamic therapy in medical settings for an array of health conditions. Nevertheless, clinics and dermatology centers are anticipated to demonstrate the most rapid CAGR, catalyzed by the surge in dermatologic photodynamic therapies.
Numerous geographical regions were dissected within the report, with North America claiming the pinnacle in revenue share, fostered by robust healthcare expenditure, professional expertise, and approval of pioneering photodynamic therapy devices. Meanwhile, forecasts predict the Asia Pacific region to witness the swiftest growth rate, fueled by enhanced healthcare access and strategic expansions by key industry players.
The segmentation analysis covered in the report includes:
- Product: Disposable Fiber Optic Light Delivery Devices, Diode Lasers
- Application: Actinic Keratosis, Acne, Psoriasis, Cancer, Others
- End-user: Hospital, Clinics & Dermatology Centers, Others
- Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Companies Mentioned
- Coherent Corp.
- Biolitec AG
- Lumibird Medical
- Boston Scientific Corporation
- Modulight USA Inc.
- IRIDEX Corporation
- Excel Lasers
- Candela Corporation
- Cutera Inc. SA
- Shanghai Apolo Medical Technology Co. Ltd.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $0.56 Billion |
| Forecasted Market Value (USD) by 2034 | $1.41 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/of9oi4
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