Photodynamic Therapy Market Outlook 2031: Industry to Expand at 7.9% CAGR Driven by Cancer Applications and Technological Advancements | Latest Report TMR

The global photodynamic therapy (PDT) market was valued at US$ 4.5 Billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2031, reaching more than US$ 8.9 Billion by the end of 2031. Market growth is driven by increasing clinical validation of PDT, rising adoption of minimally invasive procedures, and expanding applications across oncology, dermatology, and other medical specialties.

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Market Overview

Photodynamic therapy (PDT) is an innovative medical treatment that uses photosensitizer drugs in combination with specific light sources to selectively destroy diseased or abnormal tissues. The therapy works by activating photosensitizers using light exposure, leading to the generation of reactive oxygen species that target and eliminate affected cells.

Photosensitizer drugs commonly include porphyrin derivatives (PD), aminolevulinic acid (ALA), and chlorines, while PDT devices comprise disposable fiber optic light delivery devices (DFOLDD), diode lasers, and lamp-based systems. These drugs are administered through intravenous, oral, or topical routes, depending on the clinical application.

Photodynamic therapy is used across a wide range of medical fields, including cancer treatment, dermatology, ophthalmology, gastroenterology, gynecology, and infectious diseases. In oncology, PDT is applied to treat cancers such as basal cell carcinoma, non-small cell lung cancer, and head & neck cancers. Dermatological applications include acne, psoriasis, and actinic keratosis, while ophthalmology uses PDT for age-related macular degeneration and other retinal disorders.

Key Market Growth Drivers

Rise in Number of Clinical Trials

The increasing number of molecules undergoing early- and late-phase clinical trials is significantly strengthening the photodynamic therapy market. Clinical studies evaluating PDT across different patient populations and treatment settings are generating robust evidence of its effectiveness, particularly in oncology.
Successful clinical trial outcomes and subsequent regulatory approvals create lucrative opportunities for manufacturers to expand their product portfolios and geographic presence. This trend highlights growing investment in PDT research and development, fostering innovation and accelerating market growth.

Surge in Minimally Invasive Surgeries

The global surge in minimally invasive procedures is a major driver of photodynamic therapy adoption. Growing demand for cardiac surgeries due to cardiovascular diseases, increasing cosmetic procedures, rising trauma cases, and the growing prevalence of obesity-leading to bariatric surgeries-are all contributing factors.

Minimally invasive surgeries offer advantages such as smaller incisions, reduced scarring, faster recovery, and shorter hospital stays. PDT aligns well with these benefits, making it an attractive treatment option. Advancements in laser technology, including diode lasers that support faster recovery, further enhance the role of PDT in modern clinical practice.

Usage of Photodynamic Therapy as Combination Therapy

Photodynamic therapy is increasingly used in combination with laser therapy or medications to enhance treatment efficacy, particularly for dermatological conditions. PDT has also shown effectiveness in diagnosing and treating malignancies across lung, esophageal, gastrointestinal, bladder, prostate, head & neck, and skin cancers.

Emerging combination approaches such as nanoparticle PDT, metronomic PDT, and PDT combined with electronic magnetic hyperthermia treatment (EMHT) demonstrate significant potential in addressing infiltrative tumor growth. These advancements underscore PDT's versatility and its expanding role as a complementary therapy.

Market Challenges & Opportunities

Despite strong growth prospects, the photodynamic therapy market faces challenges including high treatment costs, limited awareness in certain regions, and the need for specialized equipment and trained professionals.

However, these challenges create opportunities for innovation. Ongoing advancements in targeted drug delivery systems, improved photosensitizers, and enhanced light-based devices are improving treatment outcomes and safety. Expanding hospital infrastructure, increasing cancer prevalence, and rising awareness of non-invasive treatment options continue to open new growth avenues for market participants.

Analysis of Key Players

• GALDERMA
• Biofrontera AG
• Sun Pharmaceuticals Industries Ltd.
• LUMIBIRD Groups (Quantel Medical)
• Modulight Corporation
• Quest PharmaTech, Inc.
• Theralase Technologies Inc.
• SUS Advancing Technology Co., Ltd.
• Other Prominent Players

These companies actively disclose clinical trial data, expand product portfolios, and invest in advanced PDT technologies to increase adoption and market share.

Key Developments

• December 1, 2023: Biofrontera AG won a US patent for its PDT treatment protocol involving a photosensitizer and two light exposures at different wavelengths. The patent also protects its drug Ameluz® from generic competition.

• January 15, 2024: Theralase Technologies Inc. reported a Complete Response (CR) rate of 54% at 6 months, 38% at 12 months, and 37% at 15 months in its Phase II non-muscle invasive bladder cancer clinical study, exceeding international guidelines.

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Market Segmentations

By Product Type

• Photosensitizer Drugs (Dominant segment)
• Devices

Photosensitizer drugs dominate due to their critical role in PDT efficacy and increasing focus on cancer diagnosis and treatment.

By Mode of Administration

• Intravenous (Leading segment)
• Topical
• Oral

Intravenous administration remains preferred for its ability to treat deep-seated lesions and ensure systemic delivery.

By Application

• Cancer (Dominant)
• Dermatology
• Ophthalmology
• Others

Regional Outlook: Photodynamic Therapy Market

North America leads the global photodynamic therapy market, driven by strong healthcare infrastructure, rising cancer prevalence, favorable reimbursement policies, and continuous technological advancements. The United States remains at the forefront of PDT adoption across multiple cancer indications.

Asia Pacific is expected to witness rapid growth due to increasing cancer prevalence, rising awareness of advanced diagnostics, and strengthening healthcare systems in countries such as India and China. These trends are contributing to early diagnosis, improved patient outcomes, and expanding PDT adoption.

Why Buy This Report?

• In-depth analysis of market size and growth outlook through 2031
• Detailed insights into key drivers, challenges, and opportunities
• Comprehensive competitive landscape and player profiling
• Regional and segment-wise market intelligence
• Strategic insights for investors, manufacturers, and healthcare stakeholders

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FAQs

1. What is the current size of the photodynamic therapy market?
The market was valued at US$ 4.5 Billion in 2022.

2. What is the expected growth rate of the PDT market?
The market is projected to grow at a CAGR of 7.9% from 2023 to 2031.

3. Which application dominates the PDT market?
Cancer treatment is the leading application segment.

4. Which region leads the photodynamic therapy market?
North America currently dominates the global market.

5. Who are the key players in the photodynamic therapy industry?
Key players include GALDERMA, Biofrontera AG, Sun Pharmaceutical Industries Ltd., and Theralase Technologies Inc.

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