The light activated therapies market is anticipated to grow at an annualized rate of 27.7% till 2030, by Roots Analysis
LONDON, ENGLAND, UNITED KINGDOM, October 21, 2021 /EINPresswire.com/ — Light activated therapies are considered to be a transformative approach owing to their capability to eradicate diseased cells from the body with minimal side effects; presenting lucrative opportunities for players engaged in the development of such products
Rising prevalence of skin disorders is expected to promote the adoption of light activated therapies, making it one of the relatively faster growing segments of this industry. The growing interest of pharmaceutical stakeholders in this field is also reflected from the recent rise in clinical trials registered for such therapy candidates. With multiple therapeutic leads in mid to late development stages (phase II and above), the light activated therapies market is likely to witness significant growth in the foreseen future.
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Key Market Insights
More than 125 marketed / under development light activated therapies form the current pipeline
At present, 13% of such therapies are marketed, while majority (82%) of the aforementioned candidates are still being evaluated in clinical phases. Examples of approved therapies include Ameluz®, Foscan®, Hemoporfin®, Metvix®, Photofrin® and Sarotalocan®.
Over 485 clinical trials are currently evaluating light activated therapies, worldwide
It is worth mentioning that most of the trials were / are being conducted in North America (34%). More than 28% patients enrolled in trials conducted in the aforementioned region were recruited across different sites in the United States. Further, 69% of the trials are being sponsored by non-industry players.
Over 635 patents have been filed / granted for light activated therapies, since 2018
Over 35% of these intellectual property documents were filed / granted in the North America, with maximum number of patents being filed in US. This is followed by Europe (33%), Asia Pacific and rest of the world (30%).
By 2030, the opportunity within the light activated therapies market is likely to be dominated by the North America
Growth in this domain is anticipated to be primarily driven by encouraging clinical trial results and likely approval of several advanced stage therapy candidates. Further, Europe and North America (primarily the US) are expected to capture over 80% share of the total market (in terms of sales-based revenues), in 2030.
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Key Questions Answered
What are the prevalent R&D trends related to light activated therapies?
What are the key therapeutic areas for which light activated therapies have been / are being developed?
What are the key challenges faced by stakeholders engaged in the manufacturing of light activated therapies?
Who are the leading industry and non-industry players engaged in the development of light activated therapies?
Across which geographies, extensive research related to light activated therapies is being conducted?
Which factors are likely to influence the evolution of this upcoming market?
How is the current and future market opportunity likely to be distributed across key market segments?
The financial opportunity within the light activated therapies market has been analyzed across the following segments:
Head and Neck Cancer
Polypoidal Choroidal Vasculopathy
Cervical Intraepithelial Neoplasia
Key Geographical Regions
The research includes detailed profiles of key players (listed below); each profile features an overview of the company, its financial information (if available), details on product portfolio and recent developments, as well as an informed future outlook.
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Source: EIN Presswire