Photodynamic Therapy Market By Product Type (Photosensitizer Drugs, Photodynamic Therapy Devices), Light Source (Lasers, Light Emitting Diodes (LEDs), Lamps), Application (Cancer, Actinic Keratosis (AK), Psoriasis, Acne), End-User (Hospitals, Cancer Treatment Centers, Cosmetic & Dermatology Clinics), & Region for 2024-2031

Photodynamic Therapy Market Valuation – 2024-2031

The rising frequency of cancer and other skin problems, together with a growing demand for minimally invasive and focused treatment alternatives with fewer side effects than traditional therapies, is the key driver of the photodynamic therapy market. According to the analyst from Market Research, the photodynamic therapy market is estimated to reach a valuation of USD 7.4 Billion over the forecast subjugating around USD 4.81 Billion valued in 2024.

The continuous improvements in light-based technologies and photosensitizing agents, which improve the effectiveness and precision of treatments for a range of medical diseases, are driving the expansion of the photodynamic therapy market. It enables the market to grow at a CAGR of 6.10% from 2024 to 2031.

Photodynamic Therapy MarketDefinition/ Overview

Photodynamic therapy (PDT) is a medical treatment that destroys aberrant cells by combining light-sensitive medicines called photosensitizers with a specific wavelength of light. When exposed to this light, the photosensitizer creates oxygen, which kills adjacent cells.

Furthermore, PDT is generally used to treat malignancies of the skin, lungs, and esophagus, as well as non-cancerous disorders such as acne and age-related macular degeneration. This therapy is regarded for its minimum invasiveness and ability to precisely target sick cells while preserving healthy tissue.

How Increased Prevalence of Cancer and Dermatological Disorders Drive the Growth of the Market?

Photodynamic therapy (PDT) is becoming more popular due to its efficacy in treating a variety of malignancies and skin disorders, including actinic keratosis and basal cell carcinoma. The increased global frequency of these diseases increases the need for non-invasive and focused therapy solutions, with PDT emerging as a top choice due to its ability to reduce damage to healthy tissues when compared to standard treatments.

Continuous research and technological advances in photodynamic therapy devices and photosensitizers improve treatment efficacy and patient outcomes. Innovations such as light-emitting textiles for uniform light distribution and the development of next-generation photosensitizers with improved selectivity and fewer side effects are making PDT more accessible and effective, driving market expansion.

Furthermore, healthcare practitioners and consumers are becoming aware of the benefits of photodynamic therapy, particularly its little invasiveness and outstanding cosmetic effects. As education of PDT grows, so does its acceptability in clinical settings for a wider range of reasons, aided by supporting policies and recommendations from dermatology and cancer associations around the world.

What are the Primary Challenges Impacting the Photodynamic Therapy Market?

Photodynamic therapy has substantial treatment costs, requiring photosensitizers and specialized equipment. These expenses are prohibitive to widespread adoption, especially in regions with little healthcare financing or inadequate insurance coverage. Reimbursement issues complicate access even more, as not all insurance companies cover PDT, limiting its usage to patients who can afford to pay out of cash.

Despite its benefits, photodynamic therapy is not well-known or understood by some healthcare providers and patients. This gap impedes its uptake and optimal application. Also, the requirement for specialized training to adequately administer PDT is a barrier in countries with limited resources for professional development in this advanced therapy modality.

Furthermore, PDT’s photosensitizing chemicals can cause patients to become momentarily sensitive to light, necessitating a time of avoidance of sunshine and intense indoor light following treatment. This adverse effect has a major impact on a patient’s quality of life, discouraging some from pursuing or finishing PDT. Other potential side effects also complicate patient management and therapy acceptance.

Category-Wise Acumens

What are the Factors Supporting the Dominance of Photosensitizer Drugs?

According to analysis, the photosensitizer drug segment is estimated to hold the largest market share during the forecast period. Photosensitizer drugs are important in photodynamic therapy because they can target and destroy cancer cells with great selectivity. This makes them indispensable in the treatment of numerous tumors, increasing their demand and market share.

The increasing prevalence of malignancies and other skin disorders that can be treated with photodynamic therapy drives up the demand for photosensitizer drugs. As these disorders become more widespread, the demand for effective and minimally invasive therapies like PDT grows, increasing the segment.

Furthermore, continuous research and development activities aimed at increasing the efficacy and lowering the negative effects of photosensitizer drugs contribute to their prevalence. Innovations in medication compositions and the launch of new, more effective photosensitizers enhance their market leadership.​

How Does Applications in Cancer Propel the Growth of the Photodynamic Therapy Market?

The cancer segment is estimated to dominate the photodynamic therapy market during the forecast period. The growing number of cancer cases around the world increases the desire for effective and least intrusive therapies, making photodynamic therapy a preferred alternative for certain types of cancer.

Innovations in PDT devices and photosensitizers, which are critical to the treatment’s efficacy, have dramatically improved outcomes in cancer therapy, accelerating the segment’s growth.

Furthermore, improved knowledge among healthcare practitioners and patients about the benefits of PDT for cancer therapy, together with supporting healthcare policies, has contributed to its rising adoption and market dominance.

Gain Access to Photodynamic Therapy Market Report Methodology

Country/Region-wise Acumens

How Does the Presence of Leading Healthcare Infrastructure Drive the Market in North America?

According to analyst, North America is estimated to dominate the photodynamic therapy market during the forecast period. North America, particularly the United States, has some of the world’s most advanced medical infrastructure and research institutions. This infrastructure promotes the rapid adoption and implementation of novel medicines, such as photodynamic therapy, resulting in broad use and development.

The region has a high incidence of cancer and skin illnesses, which increases the demand for effective and least invasive therapies such as photodynamic therapy. The PDT market is expected to develop due to the region’s focus on improving cancer treatment outcomes and access to sophisticated medical technology.

Furthermore, in North America, both the public and commercial sectors make significant investments in research and development, which drives innovation in photodynamic therapy. The development of novel photosensitizers and enhanced PDT technologies is supported by funding from government organizations and big healthcare corporations, strengthening the region’s market position.​

What are the Primary Factors Driving Photodynamic Therapy in Asia Pacific?

The Asia Pacific region is estimated to exhibit the highest growth within the photodynamic therapy market during the forecast period. Healthcare expenditures in Asia Pacific countries, particularly China and India, are increasing dramatically. Improved healthcare infrastructure enables the adoption of sophisticated medical technologies, like photodynamic therapy.

Effective cancer treatments are becoming more widely known and prioritized throughout the Asia Pacific region. Photodynamic therapy, noted for its efficacy and minimum invasiveness, is becoming increasingly popular as an alternative to standard cancer therapies, promoting its adoption in the market.

Furthermore, Actinic keratosis and basal cell carcinoma, two skin illnesses that can be treated with photodynamic therapy, are becoming more common in the Asia Pacific region. The increase in target diseases raises the demand for PDT, propelling market expansion.

Competitive Landscape

The competitive landscape of the photodynamic therapy market is characterized by a strong emphasis on research and innovation, with various companies working to produce more effective and safer photosensitizing chemicals and light delivery technologies.

Some of the prominent players operating in the photodynamic therapy market include

• Theralase Technologies, Inc.
• Biofrontera AG
• Hologic, Inc.
• Bausch Health
• Quest PharmaTech, Inc.
• LUMIBIRD
• Galderma Laboratories L.P.
• Modulight, Inc.
• Sun Pharmaceutical Industries Ltd.
• SUS Advancing Technology Co., Ltd.

Latest Developments

• In January 2023, Biofrontera AG, an international biopharmaceutical company, announced that its wholly-owned subsidiary Biofrontera Bioscience GmbH received a notice of allowance from the USPTO for the application “Photodynamic therapy comprising two light exposures at different wavelengths”.
• In Oct 2022, Professor Xiuli Wang, Shanghai Skin Disease Hospital, Tongji University School of Medicine (China), has been selected as the recipient of the 2022 Clinical PDT Research Excellence Award, by the International Photodynamic Association (IPA). The Clinical PDT Research Excellence Award honors Professor Wang’s substantial career achievements, which significantly accelerated the uptake of photodynamic treatment in China.
• In September 2022, Quest PharmaTech Inc. terminated the Photodynamic Therapy technology license and sold its investment in Bioceltran Co., Ltd. for $300,000. Bioceltran, a private Korean company, develops skin-penetrating compounds for cosmetic and therapeutic uses.

Report Scope

Photodynamic Therapy Market, By Category

Product Type

• Photosensitizer Drugs
• Photodynamic Therapy Devices

Light Source

• Lasers
• Light Emitting Diodes (LEDs)
• Lamps
• Others

Application

• Cancer
• Actinic Keratosis (AK)
• Psoriasis
• Acne
• Others

End-User

• Hospitals
• Cancer Treatment Centers
• Cosmetic and Dermatology Clinics
• Others

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.