Increasing Focus of Manufacturers on the Launch of Phototherapy Drug-Device Combinations is Creating Significant Growth Opportunities
The Photodynamic Therapy (PDT) market is primarily dominated by the sales of photosensitizer drugs. As seen in drug development, market players are increasing the complexity of drug molecules to prevent them from being replicated by competitors. Similarly, in the photodynamic therapy market, players offering treatment avenues are seeking innovative routes to the market through the launch of combination products that involve a photosensitizer drug and a device.
Discussions about the market indicate that dermatology is a highly fragmented market with large unmet needs and limited innovations. To cater to these requirements, companies are seeking inorganic routes such as the acquisition of DUSA by Sun Pharmaceutical for US$ 200 Mn.
This acquisition helped Sun Pharmaceutical access DUSA’s patented drug?device combination Levulan, which is useful for photodynamic therapy for the treatment of Actinic Keratosis (AK), psoriasis, and acne.
Thus, the foray of market players into the drug-device combination segment, coupled with increasing product research in light therapy devices, and the high adoption of photosensitizer drugs for photodynamic therapy, are among factors that are estimated to propel the photodynamic therapy market.
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- Galderma S.A.
- Sun Pharmaceutical Industries Ltd.
- Novartis AG
- Allergan Plc
- Valeant Pharmaceuticals International, Inc.
- Quest Pharmatech, Inc.
- Hologic, Inc. (Cynosure Inc.)
Dynamic Epidemiology for Skin Disorders and Associated Cancers to offer Growth Opportunities to the Photodynamic Therapy Market
The prevalence of various skin diseases, such as actinic keratosis, psoriasis, acne, rosacea, and others, varies across the globe. It depends upon the genetic makeup, skin type, as well as the lifestyle of people in a particular geography.
Australia has the highest prevalence of actinic keratosis, and it has been estimated that 37–55% people in the country are affected with actinic keratosis. In the U.S., actinic keratosis is estimated to affect 10% of females and 26.5% males, while the prevalence of actinic keratosis in the UK is 15% in males and 6% in females. Thus, the growing prevalence of actinic keratosis is a significant factor that is projected to drive the revenue growth of the photodynamic therapy market over the forecast period.
Furthermore, psoriasis is among the common dermatology disorders and is the most prevalent autoimmune disease in the U.S. As per American Academy of Dermatology, as of 2017, 2.1% of the overall U.S. population suffered from psoriasis, which accounted for approximately 7.0 million psoriasis cases.
Thus, the increasing prevalence of skin disorders is expected to promote the adoption of photodynamic therapy, which is expected to boost revenue growth in the global photodynamic therapy market.
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Limited Competition in Photodynamic Therapy Offers Leverage to Existing Key Manufacturers
Photodynamic therapy is one of the most successful treatment options for actinic keratosis, skin diseases, and basal cell carcinomas. Hence, in case cryotherapy or topical treatment fails, physicians mostly prescribe photodynamic therapy over conventional treatments. Aminolevulinic acid is applied as a medication on the infected part of the skin, which is later is activated using a blue light source or an intense pulsed light source.
At present, LEVULAN KERASTICK launched by Sun Pharmaceutical, Ameluz manufactured by Biofrontera, and Metvix offered by Galderma are among the major products that are commercially available in the photodynamic therapy market.
These popular brands are estimated to gain majority of the market share over the forecast period. This is also expected to create an opportunity for other dermatology product manufacturers to launch cost-effective products for photodynamic therapy to boost their revenue and strengthen their foothold in the market.
Thus, limited competition in the photodynamic therapy market allows key manufacturers to strengthen their businesses by bringing innovative and upgraded phototherapy solutions in the market, thereby driving the global photodynamic therapy market.
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The competition section of the photodynamic therapy market features the profiles of the key players operating in the market based on their shares, differential strategies, product offerings, marketing approach, and company dashboard.
Some of the key players operating in the photodynamic therapy market include Sun Pharmaceutical Industries Ltd., Galderma SA, and Biofrontera AG, which offer photosensitizer drugs, as well as Allergan Plc., Hologic, Inc., and Quest PharmaTech Inc., which offer therapy devices.
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The photodynamic therapy market involves phototherapy treatment drugs and light therapy devices. Drug-based photodynamic treatment covers drug class - Hematoporphyrin Derivative (HpD), Aminolevulinic Acid (ALA), and others. Photodynamic therapy devices involve the use of a high-intensity bright light to activate the dormant photosensitizer drugs when they are injected into the body.
About the Report
PMR has conducted a research study on the photodynamic therapy market for the forecast period 2019 to 2029. The photodynamic therapy market report offers a comprehensive evaluation of the business opportunities available in the photodynamic therapy market, along with insights on the consumption of photosensitizer drugs, incidence of diseases, awareness about skin cancer, and the competitive landscape of the photodynamic therapy market.
The report elaborates on the macroeconomic factors that are influencing the dynamics of the photodynamic therapy market and its futuristic potential.
The report offers a comprehensive taxonomy of the photodynamic therapy market based on the product type, application, end users, and region. Different photodynamic therapy products in the market include photosenitizer drugs -Hematoporphyrin Derivative (HpD), Aminolevulinic Acid (ALA), benzoporphyrin derivatives, texaphyrins, chlorins, dyes, and devices such as disposable fiber optic light delivery devices and diode lasers.
Photodynamic therapy finds major applications in basal cell carcinoma, actinic keratosis, and other applications. The photodynamic therapy market has been analyzed across the regions of North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA.
Additional Questions Answered
Some of the additional questions addressed in the photodynamic therapy market report are:
- What is the revenue potential of the photodynamic therapy market across the regions of North America and Europe?
- Who are the key competitors in the photodynamic therapy market and what are their portfolios?
- What are the major challenges affecting the growth of the photodynamic therapy market?
- How is the reimbursement landscape in the phototherapy treatment market impacting the growth of the market?
The photodynamic therapy market has been estimated based on the consumption and supply-demand approach. The market was first calculated based on the consumption of photosensitizer drugs and the sales of light devices in different regions/countries, especially in the top 20 countries globally, for eight disease indications.
Other qualitative factors analyzed during the value estimation of photodynamic therapy include the level of awareness regarding skin disorders and available treatment methods. This information is further validated with thorough primary research (that includes surveys, interviews, and in-person interactions, along with the viewpoints of seasoned analysts) and secondary research (that comprises authentic trade journals, resourceful databases, and verified paid sources).
The research study on the photodynamic therapy market also includes the top trends and macro as well as microeconomic factors shaping the photodynamic therapy market. With this approach, the report on the photodynamic therapy market estimates the industry attractiveness of every major segment of the photodynamic therapy market over the forecast period.