U.S. Photodynamic Therapy Market Outlook

in recent years, the photodynamic therapy (pdt) market in the united states has been growing at a tremendous rate due to technological advancements and investment in research and development activities. pdt is a form of light therapy which uses a combination of light-sensitive drugs and light to accurately target and kill malignant cancer cells while leaving healthy cells unharmed. it is widely used to treat a variety of conditions such as skin cancer, advanced age-related macular degeneration, and barrett's esophagus. in the united states, the emergence of novel technologies, grants from the national institutes of health (nih) and increased healthcare expenditure are expected to drive the photodynamic therapy market growth in the next decade. for instance, in 2018 the nih awarded multiple grants to trial pre-clinical and clinical studies encompassing various pdt related topics. the clinical studies in the united states may present financial benefits to various stakeholders such as hospitals, governments, learning institutes, and device manufacturers. as per a report published by research and markets, the americas pdt market is expected to exhibit rapid growth in the forecast period. moreover, on the basis of technology, the photodynamic therapy market is classified into three aspects: dye, laser, and blue light. the laser pdt segment is expected to account for the largest share of this market. moreover, continued focus on developing technologies such as topical pdt, photoimmunotherapy, and pegylated liposomal photodynamic has enabled better efficacy and convenience of use for patients. in addition to these, clinical trials evaluating the use of pdt in conjunction with other treatments such as radiation and chemotherapy have also been increasing. this is expected to expand the application of pdt to other cancers such as laryngeal cancer. furthermore, researchers have also been studying new applications of pdt in diseases such as alzheimer’s, multiple sclerosis and heart disease as well. such advances are likely to create lucrative opportunities for industry players in the us market. although u.s. photodynamic therapy market shows large potential for growth and innovation, the high cost of treatments is a key factor hampering its expansion. to address this issue, various organizations such as the american cancer society (acs) are providing financial assistance to patients in need of pdt treatments. in addition, the introduction of advanced technologies and automation may help reduce costs in the long-term. in conclusion, the u.s. photodynamic therapy market is anticipated to experience a significant growth in the forecasted period due to technological advancements, rising healthcare expenditure, grants from the nih, and development of novel treatments. furthermore, new clinical trials exploring the use of pdt in conjunction with other treatments and its application to a larger number of diseases will further increase the opportunities for the industry players in the united states.