Photodynamic Therapy Market

Photodynamic Therapy Market Outlook (2024 to 2034)

The global photodynamic therapy market is estimated at a value of US$ 1.63 billion in 2024 and is forecasted to expand at a CAGR of 6.1% to end up at US$ 2.93 billion by the end of 2034.

A medication called photosensitizer is combined with light energy in a two-stage treatment called photodynamic therapy (PDT), which is intended to kill malignant and precancerous cells upon light activation. Photosensitizers are activated by a specific light wavelength, often emitted by a laser. These compounds are harmless until light triggers their activation. However, they become toxic to targeted tissues upon activation.

The photodynamic therapy market is expanding at a steady pace due to the availability of various photosensitizer medications. These medications treat conditions such as age-related macular degeneration, acne, psoriasis, and multiple malignancies affecting the skin, lungs, brain, bladder, pancreas, bile duct, esophagus, and head & neck.

In addition to these conditions, PDT helps treat bacterial, fungal, and viral infections. This light-based therapy stimulates the immune system, providing the body with an additional mechanism to eliminate precancerous and cancerous cells.

Key Market Growth Drivers

• Growing numbers of clinical trials are driving photodynamic therapy market growth because of its efficacy in treating various diseases such as cancer, skin issues, and many others.
• Increasing popularity of minimally invasive procedures, which offer benefits such as reduced discomfort and shorter hospital stays, is driving market growth.
• Ongoing advancements in PDT techniques, including tailored drug delivery systems and improved light sources, are contributing to the increased adoption of photodynamic therapy.
• Adoption of photodynamic therapy presents significant market opportunities in combined treatments, particularly in dermatological therapies. For optimal efficacy, PDT is increasingly used alongside laser treatments or medications.
• By concentrating photosensitizers in abnormal cells and precisely targeting them with light, photodynamic therapy minimizes damage to healthy cells.
• Photodynamic therapy, known for its scar-free outcomes, is particularly suitable for individuals with skin cancer and precancerous conditions.

Report Attribute	Detail
Photodynamic Therapy Market Size (2024E)	US$ 1.63 Billion
Forecasted Market Value (2034F)	US$ 2.93 Billion
Global Market Growth Rate (2024 to 2034)	6.1% CAGR
North America Market Share (2024E)	37.7%
East Asia Market Value (2024E)	US$ 157 Million
Actinic Keratosis Segment Value (2034F)	US$ 1.1 Billion
Sales of Photosensitizer Drugs (2034F)	US$ 2.35 Billion
Hospitals Segment Value (2034F)	US$ 1.07 Billion
Key Companies Profiled	LitePharmTech; Shenzhen Hytera Communications Corporation; Simphotek, Inc.; CBIO Limited; Avon Products, Inc.; Sun Pharmaceuticals Industries Ltd.; Quest PharmaTech, Inc.; Theralase Technologies Inc.; Biofrontera AG.

What Opportunities Await Photodynamic Therapy Providers?

“Companies benefiting from Increasing Number of Clinical Trials”

With a growing number of clinical trials investigating the safety and effectiveness of photodynamic therapy (PDT) across diverse contexts and individual patients, substantial evidence suggests its utility in addressing various medical conditions, such as basal cell carcinoma.

Endorsement of these compounds after successful clinical trials presents lucrative opportunities for companies to enter and bolster their foothold in the photodynamic treatment market. This pattern reflects a surge in enthusiasm and investment in PDT research and development, fueling market expansion and innovation in the healthcare sector.

“Ongoing Innovation and Developments in Drug-Device Combination”

Growing emphasis on the development of combination drugs, which streamline therapy administration and improve patient results, is a major factor contributing to the expansion of the photodynamic therapy market size. By offering a unified choice, these solutions speed up the course of therapy for patients and medical professionals alike. The effectiveness of PDT can be enhanced and acceptability increased by advancements in photosensitizer drugs with improved targeting power and light therapy equipment with focused light sources.

What’s the Main Challenge to Photodynamic Therapy Adoption?

“High Cost of Photodynamic Treatment”

Key barrier to the market's expansion is the high cost of photodynamic treatment. The cost of photodynamic therapy is generally high, particularly when it comes to the costs of light therapy equipment and photosensitizer medications. Because of these restraints, patients who have budget constraints choose alternative treatments that are more cost-effective.

In places with tight healthcare resources and an inadequate payment system, the problem is more common. Manufacturers are more inclined to prioritize cost-cutting measures, which is helping PDT to become a more accessible and reasonably priced therapy choice for a larger range of patients.

Country-wise Insights

In 2024, North America is estimated to lead with 37.7% of the global photodynamic therapy market share. The East Asia market is evaluated to expand at a significant CAGR of 5.3% during the projection period (2024 to 2034).

Which Factors are Contributing to High Demand for Photodynamic Therapy in the United States?

“Well-Established Healthcare Sector and Reputation for Advanced Cancer Treatments”

Attribute	United States
Market Value (2024E)	US$ 532 Million
Growth Rate (2024 to 2034)	6.9% CAGR
Projected Value (2034F)	US$ 1.04 Billion

Several factors are driving significant demand for photodynamic therapy in the United States, notably its well-established healthcare infrastructure. Known for its advanced cancer treatments, the country attracts patients from across the globe. Photodynamic therapy offers a minimally invasive option for treating skin cancer and precancerous conditions.

The tailored treatment capability and comparatively lower risk of adverse effects associated with PDT make it an increasingly preferred choice among patients and healthcare professionals in the country.

What is Contributing to Rising Popularity of Photodynamic Therapy in South Korea?

“Huge Demand for Minimally Invasive Cosmetic Surgery Procedures”

Attribute	South Korea
Market Value (2024E)	US$ 39 Million
Growth Rate (2024 to 2034)	5.4% CAGR
Projected Value (2034F)	US$ 65 Million

South Korea is poised to account for 24.6% share of the East Asia market in 2024. Demand for photodynamic therapy is steadily rising in South Korea, driven by its efficacy in treating cancer and skin-related ailments. Another factor propelling its uptake is PDT's non-invasive nature, targeting and eliminating abnormal cells through light and a photosensitizing agent. This aligns well with South Korea's inclination towards minimally invasive cosmetic procedures, which is also a key photodynamic therapy market trend.

Category-wise Insights

Based on end use, the market is segmented into hospitals, private dermatology clinics, laser therapy centers, cancer treatment centers, and spas & rejuvenation centers. The hospital segment accounts for a significant share of the market due to patients' trust in facilities, availability of skilled professionals, and budget to purchase high-cost equipment such as PDT.

How are Photosensitizer Drugs and Photodynamic Therapy Devices Matching Up?

“Photosensitizer Drugs Requiring Frequent Replenishment”

Attribute	Photosensitizer Drugs
Segment Value (2024E)	US$ 1.29 Billion
Growth Rate (2024 to 2034)	6.2% CAGR
Projected Value (2034F)	US$ 2.35 Billion

Sales of photosensitizer drugs surpass those of photodynamic therapy devices primarily because these drugs are consumable components essential for each treatment session. Photosensitizer drugs require frequent replenishment, unlike PDT devices, which are durable and enduring. In addition, demand for new and more potent photosensitizers, crucial for enhancing therapy efficacy, is driven by their development and approval. Unlike PDT devices, which are one-time purchases, the continuous need for photosensitizer medications ensures steady and substantial sales volumes.

Why is Photodynamic Therapy Preferred Over Conventional Treatments for Actinic Keratosis?

“Minimal Invasiveness and Favorable Aesthetic Outcomes of Photodynamic Therapy”

Attribute	Actinic Keratosis
Segment Value (2024E)	US$ 584.6 Million
Growth Rate (2024 to 2034)	6.5% CAGR
Projected Value (2034F)	US$ 1.1 Billion

Actinic keratosis is increasingly treated with photodynamic therapy due to its effectiveness, minimal invasiveness, and favorable aesthetic outcomes. PDT reduces the risk of progression to squamous cell carcinoma by precisely targeting and eliminating precancerous cells while sparing surrounding healthy tissue. Treating multiple lesions simultaneously, PDT presents a more attractive option for patients and healthcare providers than conventional therapies like cryotherapy or surgical excision, offering quicker recovery times and fewer side effects.

Competitive Landscape

Key players in the photodynamic therapy market are implementing tactics such as product development and sharing clinical trial data to enhance market share and confidence. Intense competition and a significant presence of major competitors characterize the market for photodynamic therapy.

• In January 2024, Theralase Technologies Inc., a pharmaceutical company, announced results from its Phase II clinical research on non-muscle invasive bladder cancer. The study reported complete responses of 54% at 6 months, 38% at 12 months, and 37% at 15 months, surpassing the recommendations of the International Bladder Cancer Group.
• In December 2023, Biofrontera AG's Photodynamic Therapy (PDT) treatment protocol was granted a patent in the United States. This innovative approach, utilizing a photosensitizer and two light exposures at various wavelengths, reinforces Biofrontera's commitment to pioneering PDT strategies. Moreover, the patent safeguards Biofrontera's medication Ameluz against generic competition.
• In August 2023, ImPact Biotech and Maastricht University forged a collaboration to advance research on eye treatments targeting pathological myopia, known as myopic macular degeneration (MMD). Utilizing ImPact's Padeliporfin vascular targeted photodynamic therapy (VTP) technology, this partnership aims to develop therapies to halt the progression of MMD.

Fact.MR provides detailed information about the price points of key providers of photodynamic therapy positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Photodynamic Therapy Market Research

• By Product Type :

  • Photosensitizer Drugs
    • Aminolevulinic Acid
    • Chlorines
    • Porphyrin Derivatives
  • Photodynamic Therapy Devices
    • PDT Diode Lasers
    • Others

• By Application :

  • Basal Cell Carcinoma
  • Actinic Keratosis

• By End User :

  • Hospitals
  • Private Dermatology Clinics
  • Laser Therapy Centers
  • Cancer Treatment Centers
  • Spas & Rejuvenation Centers

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa