Top 4 Companies in the Photodynamic Therapy Market 2023
04 May, 2023
Growth Plus Reports
According to Growth Plus, Reports, the global photodynamic therapy market was valued at US$ 1.38 billion in 2020, and it is expected to register a strong CAGR of 15.50% to reach US$ 7.28 billion by 2031. The growing demand for minimally invasive surgery, the increasing prevalence of cancer and skin disorders, a growing number of R&D activities to develop novel photosensitizers, and an increase in funding for developing novel drugs will drive revenue growth in the photodynamic therapy market.
What is Photodynamic Therapy?
PDT is a treatment that combines a medication (photosensitizer) with light radiation to eliminate malignant and precancerous cells. When photosensitizers are triggered by light, they release a kind of oxygen that kills adjacent cells. Light of a specified wavelength activates each photosensitizer. A laser often provides the light energy required to activate a photosensitizer. Several photosensitizer drugs treat various diseases, including cancer, acne, psoriasis, and age-related muscular degeneration. Photodynamic therapy is also useful in treating bacterial, viral, and fungal infections.
The Top 4 Players in the Photodynamic Therapy Market are:
- Quantel Medical: Quantel Medical, founded in 1993, is a wholly-owned subsidiary of the Lumibird Group. Its primary operations include research, development, manufacture, and marketing of medical laser and ultrasound products. Quantel Medical is a global leader in the ophthalmic field, with a presence in over 110 countries, directly or through distributors.
- Sun Pharmaceutical Industries Ltd: Sun Pharmaceutical Industries Limited, based in Mumbai, is an Indian multinational pharmaceutical firm that produces and markets medicinal products and active pharmaceutical ingredients (APIs) in over 100 countries worldwide. It is India's largest pharma firm and the world's fourth-largest specialty generic drug maker. The products span a wide range of therapeutic areas such as psychiatry, anti-infectives, neurology, cardiology, gastrointestinal, ophthalmology, and others.
- Biofrontera AG: Biofrontera AG is a biopharmaceutical company that develops and sells dermatological medications and medical cosmetics. The firm in Germany produces and markets novel skin care, protection, and treatment products. Biofrontera is the first German biopharmaceutical firm to get consolidated European and U.S. approval for in-house produced medicine. The Biofrontera Group was formed in 1997 and is a listed Frankfurt Stock Exchange (Prime Standard) company.
- Galderma: Galderma S.A. is a pharmaceutical firm based in Switzerland that specializes in dermatological treatments and skin care products. Galderma was founded in 1981 as a joint venture between Nestlé and L'Oréal, and it later became a Nestlé subsidiary. The company's headquarters are in Zug, Switzerland. The corporation has 33 locations in 100 countries and a global network of distributors.