The Europe Photodynamic Therapy Devices Market would witness market growth of 8.1% CAGR during the forecast period (2023-2030).
Photodynamic therapy (PDT) is a medical technique that eliminates abnormal cells using light-sensitive medication and a light source. PDT devices are integral in addressing diverse medical conditions such as cancer and dermatological disorders. These devices amalgamate photosensitizing applications and light sources, operating collaboratively to trigger therapeutic processes effectively. Various factors propel the market growth. Notable drivers encompass the rising prevalence of skin cancer and various malignancies, along with a growing preference for minimally invasive procedures. Furthermore, heightened consumer awareness of the application associated with photodynamic therapy contributes to market expansion. This, in conjunction with an increasing acceptance of treatments for conditions like acne and procedures aimed at advancing the face, collectively positively shapes the market dynamics.
The rising incidence of cancer, specifically skin cancers like basal cell carcinoma and squamous cell carcinoma, is driving the demand for efficacious treatment modalities like PDT. The growing prevalence of cancer cases is foreseen to be a significant driver for the increased demand for photosensitizer drugs, consequently playing a vital role in fuelling the expansion of the market.
The International Trade Administration projects that the medical device sector in France will generate an anticipated €36.7 billion in revenue by 2022. The industry turnover for medical devices exported from France is estimated at €9.4 billion, 26% of the total industry. The industry is expected to see an annual growth of about 2% for the next several years. France boasts a sophisticated and well-developed healthcare infrastructure that supports adopting advanced medical technologies, including PDT devices. Hospitals, clinics, and research institutions can integrate innovative medical treatments into their practices. Therefore, the factors mentioned above will propel the market growth in this region.
The Germany market dominated the Europe Photodynamic Therapy Devices Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $60.8 million by 2030. The UK market is experiencing a CAGR of 7.2% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 8.9% during (2023 - 2030).
Free Valuable Insights: The Global Photodynamic Therapy Devices Market will Hit $980.8 Million by 2030, at a CAGR of 8.5%
Based on End-use, the market is segmented into Hospitals, Clinics & Dermatology Centers, and Others. Based on Product, the market is segmented into Diode Lasers, and Disposable Fiber Optic Light Delivery Devices. Based on Application, the market is segmented into Cancer, Actinic Keratosis, Acne, Psoriasis, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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