The global photodynamic therapy market size was estimated to be USD 6.49 billion in 2023 and is expected to reach at USD 25.48 billion by 2034 with a CAGR of 13.24% during the forecast period 2024-2034. Increase in the incidence of cancer and skin conditions, growing demand for minimally invasive procedures, improved consumer awareness of photodynamic therapy's benefits, surge in usage of acne, eye, & facial treatments, rising research & development activities in photodynamic treatment analysis, increase in the demand for photosensitizer medications & technology used to treat various cancers, and surge in initiatives by leading market players are some of the main elements driving the market's expansion.
Surge in approvals of advanced photodynamic systems by regulatory authorities is predicted to boost the market growth during the forecast period. The use of medications and medical equipment in the treatment of chronic illnesses includes photodynamic therapy. For dermatological therapy, innovative light-emitting gadgets are becoming more popular. For instance, in February 2023, Bausch + Lomb Corp. and biomedical laser company Modulight Oyj have received regulatory approval in the United States for their ML6710i photodynamic laser, which can be used in conjunction with Bausch + Lomb's Visudyne photodynamic therapy for eye health.
By product, photosensitizer drugs was the highest revenue-grossing segment in the global photodynamic therapy market in 2023 owing to the increasing spending on research & development by industry participants to find new photosensitizers to enhance clinical results and rising approval of novel drugs for the treatment of cancer. Additionally, photodynamic therapy devices is predicted to grow at fastest CAGR during the forecast period owing to the more technological progress with fewer adverse effects, growing awareness among the general population, rising prevalence of cancer, increasing adoption of photodynamic therapy for the treatment, surge in use of photodynamic treatment for conditions including breast cancer, lung cancer, & others, and growing initiatives by market players. For instance, in January 2023, Biofrontera AG has initiated the process of enrolling patients for a Phase 3 clinical trial, which is randomized, double-blind, and placebo-controlled. This multi-center trial aims to assess the safety and effectiveness of Ameluz® in the treatment of actinic keratosis (AK) on the extremities, neck, and trunk through field-directed therapy.
By applications, cancer was the highest revenue-grossing segment in the global photodynamic therapy market in 2023 owing to surge in prevalence of cancer, rising approvals of advanced therapies by regulatory bodies, growing research & development activities, and increasing funding by leading market players. Additionally, actinic keratosis is predicted to grow at fastest CAGR during the forecast period owing to the rising concerns regarding illness, growing prevalence of various skin cancers, surge in number of medication approvals, increasing introduction of novel medicines, rising research & development activities by market players, and growing approvals by regulatory bodies. For instance, in April 2022, Biofrontera Inc. has disclosed that the U.S. Food and Drug Administration (FDA) has granted approval to the company's cGMP laboratory, Biofrontera Pharma GmbH, as a contracted facility for Ameluz (aminolevulinic acid hydrochloride gel, 10%). This laboratory is now authorized to conduct impurity testing procedures. This approval allows a portion of essential testing for production batches to take place at the Leverkusen facility, thereby decreasing reliance on third-party suppliers and mitigating the risk of production interruptions and product delivery delays.
By end-user, hospitals was the highest revenue-grossing segment in the global photodynamic therapy market in 2023 owing to growing demand for less-invasive therapies, surge in number of hospitals providing PDT to cancer patients, growing awareness regarding PDT’s anticancer benefits, and increasing clinical trial procedures. For instance, in August 2022, Asieris Pharmaceuticals has declared the conclusion of patient enrollment for the multinational Phase III Clinical Trial of Cevira (known as APRICITY). This innovative approach is aimed at treating cervical high-grade squamous intraepithelial lesions (HSIL) without resorting to surgery. Cevira represents a pioneering combination of a drug and device utilizing photodynamic principles, relying on the targeted accumulation of a photosensitizer within the affected cells. Additionally, cosmetic & dermatology clinics is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of cancer and skin conditions, growing demand for minimally invasive procedures, and surge in number of clinics.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising demand for new biologics for cancer treatment, increasing adoption of photodynamic therapy, surge in new product launches by leading market players, growing product approvals by the regulatory bodies, rising usage of photodynamic therapy for the treatment & care of actinic keratosis, increasing number of cosmetologists providing photodynamic therapy, and surge in research & development activities. For instance, in March 2022, Biofrontera Inc. has informed that the U.S. patent No. 11,235,169, which was previously awarded for the BF-RhodoLED® XL illumination device, has now been included in the U.S. Food and Drug Administration (FDA) publication referred to as the 'Approved Drug Products with Therapeutic Equivalence Evaluations,' often recognized as the Orange Book. Additionally, Europe region is predicted to grow at fastest CAGR during the forecast period owing to the growing research & development activities, surge in number of products receiving approvals by regulatory bodies, increasing usage of PDT in cancer treatment, and rising introduction of innovative products. For instance, in July 2022, Biolitec Pharma Ltd. has unveiled its newest iteration of laser technology, named the ELVeS® Radial Laser System. This device presents cutting-edge therapeutic possibilities for a range of medical ailments such as cancer, benign prostatic hyperplasia, and varicose veins. This release highlights the ongoing evolution in photodynamic therapy technologies.
Surge in approvals of advanced photodynamic systems by regulatory authorities is predicted to boost the market growth during the forecast period. The use of medications and medical equipment in the treatment of chronic illnesses includes photodynamic therapy. For dermatological therapy, innovative light-emitting gadgets are becoming more popular. For instance, in February 2023, Bausch + Lomb Corp. and biomedical laser company Modulight Oyj have received regulatory approval in the United States for their ML6710i photodynamic laser, which can be used in conjunction with Bausch + Lomb's Visudyne photodynamic therapy for eye health.
By product, photosensitizer drugs was the highest revenue-grossing segment in the global photodynamic therapy market in 2023 owing to the increasing spending on research & development by industry participants to find new photosensitizers to enhance clinical results and rising approval of novel drugs for the treatment of cancer. Additionally, photodynamic therapy devices is predicted to grow at fastest CAGR during the forecast period owing to the more technological progress with fewer adverse effects, growing awareness among the general population, rising prevalence of cancer, increasing adoption of photodynamic therapy for the treatment, surge in use of photodynamic treatment for conditions including breast cancer, lung cancer, & others, and growing initiatives by market players. For instance, in January 2023, Biofrontera AG has initiated the process of enrolling patients for a Phase 3 clinical trial, which is randomized, double-blind, and placebo-controlled. This multi-center trial aims to assess the safety and effectiveness of Ameluz® in the treatment of actinic keratosis (AK) on the extremities, neck, and trunk through field-directed therapy.
By applications, cancer was the highest revenue-grossing segment in the global photodynamic therapy market in 2023 owing to surge in prevalence of cancer, rising approvals of advanced therapies by regulatory bodies, growing research & development activities, and increasing funding by leading market players. Additionally, actinic keratosis is predicted to grow at fastest CAGR during the forecast period owing to the rising concerns regarding illness, growing prevalence of various skin cancers, surge in number of medication approvals, increasing introduction of novel medicines, rising research & development activities by market players, and growing approvals by regulatory bodies. For instance, in April 2022, Biofrontera Inc. has disclosed that the U.S. Food and Drug Administration (FDA) has granted approval to the company's cGMP laboratory, Biofrontera Pharma GmbH, as a contracted facility for Ameluz (aminolevulinic acid hydrochloride gel, 10%). This laboratory is now authorized to conduct impurity testing procedures. This approval allows a portion of essential testing for production batches to take place at the Leverkusen facility, thereby decreasing reliance on third-party suppliers and mitigating the risk of production interruptions and product delivery delays.
By end-user, hospitals was the highest revenue-grossing segment in the global photodynamic therapy market in 2023 owing to growing demand for less-invasive therapies, surge in number of hospitals providing PDT to cancer patients, growing awareness regarding PDT’s anticancer benefits, and increasing clinical trial procedures. For instance, in August 2022, Asieris Pharmaceuticals has declared the conclusion of patient enrollment for the multinational Phase III Clinical Trial of Cevira (known as APRICITY). This innovative approach is aimed at treating cervical high-grade squamous intraepithelial lesions (HSIL) without resorting to surgery. Cevira represents a pioneering combination of a drug and device utilizing photodynamic principles, relying on the targeted accumulation of a photosensitizer within the affected cells. Additionally, cosmetic & dermatology clinics is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of cancer and skin conditions, growing demand for minimally invasive procedures, and surge in number of clinics.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising demand for new biologics for cancer treatment, increasing adoption of photodynamic therapy, surge in new product launches by leading market players, growing product approvals by the regulatory bodies, rising usage of photodynamic therapy for the treatment & care of actinic keratosis, increasing number of cosmetologists providing photodynamic therapy, and surge in research & development activities. For instance, in March 2022, Biofrontera Inc. has informed that the U.S. patent No. 11,235,169, which was previously awarded for the BF-RhodoLED® XL illumination device, has now been included in the U.S. Food and Drug Administration (FDA) publication referred to as the 'Approved Drug Products with Therapeutic Equivalence Evaluations,' often recognized as the Orange Book. Additionally, Europe region is predicted to grow at fastest CAGR during the forecast period owing to the growing research & development activities, surge in number of products receiving approvals by regulatory bodies, increasing usage of PDT in cancer treatment, and rising introduction of innovative products. For instance, in July 2022, Biolitec Pharma Ltd. has unveiled its newest iteration of laser technology, named the ELVeS® Radial Laser System. This device presents cutting-edge therapeutic possibilities for a range of medical ailments such as cancer, benign prostatic hyperplasia, and varicose veins. This release highlights the ongoing evolution in photodynamic therapy technologies.
Segmentation: Photodynamic Therapy Market Report 2022 - 2033
Photodynamic Therapy Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
Photodynamic Therapy Devices
- Disposable Fiber Optic Light Delivery Devices
- Diode Lasers
Photosensitizer Drugs
- Porphyrin Derivatives
- Aminolevulinic Acid
- Chlorines
- Others
Photodynamic Therapy Market Analysis & Forecast by Applications 2023 - 2034 (Revenue USD Bn)
- Actinic Keratosis
- Psoriasis
- Acne
- Cancer
- Others
Photodynamic Therapy Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Cosmetic & Dermatology Clinics
- Hospitals
- Others
Photodynamic Therapy Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Photodynamic Therapy Market: Product Estimates & Trend Analysis
8. Photodynamic Therapy Market: Application Estimates & Trend Analysis
9. Photodynamic Therapy Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Photodynamic Therapy Market
12. Europe Global Photodynamic Therapy Market
13. Asia Pacific Global Photodynamic Therapy Market
14. Latin America Global Photodynamic Therapy Market
15. MEA Global Photodynamic Therapy Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- biolitec AG
- Galderma S.A.
- Biofrontera AG
- Soligenix
- Modulight Inc.
- Lumibird (Quantel Medical)
- Theralase Technologies Inc.
- Bausch Health Companies Inc.
- Sun Pharmaceutical Industries Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 6.49 Billion |
| Forecasted Market Value ( USD | $ 25.48 Billion |
| Compound Annual Growth Rate | 13.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
