Global Photodynamic Therapy Market By Product Type (Photosensitizer Drugs, Aminolevulinic Acid, Porphyrin Derivatives, Chlorine, Others ) By Application (Cancer, Actinic Keratosis, Acne, Psoriasis, and Others), By End-User By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

The Global Photodynamic Therapy Market size is expected to be worth around USD 5.5 Billion by 2033, from USD 2.4 Billion in 2023, growing at a CAGR of 8.3% during the forecast period from 2024 to 2033.

The global photodynamic therapy market is expected to grow due to an increase in skin diseases and cancer, and an increase in the need for less-invasive treatments. However, an increase in the cost of treating cancer might impede the market.

Photodynamic therapy is referred to as a photosensitizing drug and light energy, that helps to kill the cancer cells. The medications function only after specific types of lights are being “turned on” or activated. PDT is also sometimes referred to as phototherapy, photo radiation therapy, or photochemotherapy.

The photosensitizing substance is either applied to the skin or injected into the bloodstream, depending on the area of the body being treated. The treated area is then exposed to light. The medicine reacts to the light and creates a unique sort of oxygen molecule that kills the cells. PDT may also be helpful because it kills blood cells.

Key Takeaways

• Market Growth Projection: Photodynamic Therapy Market is set to reach USD 5.5 Billion by 2033, growing at 8.3% CAGR from USD 2.4 Billion in 2023.
• Product Analysis: Photosensitizer drugs dominate the market, comprising 57.3% of revenue in 2023, essential in PDT’s dual-specificity mechanism.
• Application Insights: Cancer treatment holds the largest market share at 32.4% in 2023, emphasizing PDT’s effectiveness in cancer cell destruction.
• End User Analysis: Hospitals lead as major end users, capturing a substantial 39.2% revenue share in 2023, driven by demand for minimally invasive treatments.
• Regional Analysis: North America leads the market, accounting for 32.5% share in 2023, with a market value of USD 0.78 Billion.

Product Analysis

Photosensitizer drugs accounted 57.3% of revenue share in 2023

Based on product types, the market is subdivided into Photosensitizer Drugs, Aminolevulinic Acid, Porphyrin Derivatives, Chlorines, Others, Devices, Disposable Fiber Optic Light Delivery Devices (DFOLDD), and Diode Laser. Photosensitizer drug dominated the market with 57.3% in 2023. PDT is a well-known therapy for cancer and other non-malignant diseases including infections. PDT makes use of non-toxic substances called photosensitizers (PSs), which are activated by the absorption of visible light and first create the excited singlet state before switching to the long-lived excited triplet state.

In the presence of oxygen, this triplet state can go through photochemical processes to create reactive oxygen species, including singlet oxygen, which can kill cancer cells, harmful bacteria, and undesirable tissue. PDT’s dual-specificity is dependent on both localized light delivery and PS buildup in sick tissue. Many tetrapyrrole structures, including porphyrins, chlorins, bacteriochlorins, and phthalocyanines, have been studied in PDT, and several drugs have been given clinical approval.

Application Analysis

Cancer dominated the market due to the rising prevalence of skin cancer

Based on application, the global PDT market has been divided into cancer, actinic keratosis, acne, psoriasis, and others. Cancer held the market with the largest share of 32.4% in 2023. Skin cancer is observed to be one of the most common cancer types. According to the National Library of Medicine, acne is one of the most prevalent skin disorders in the U.S., affecting around 50 million individuals each year. According to American Cancer Society, Melanoma accounts for only 1% of skin cancer, however, it accounts for a large proportion of skin cancer deaths.

The rise in the prevalence of skin conditions, the rise in demand for minimally invasive procedures, and the rising financial burden of cancer are anticipated to propel the segment growth. Cancer is one of the leading causes of death worldwide. According to (WHO), in 2020, nearly 10 million deaths around the world, which is about 1 in 6 deaths were registered. Photodynamic treatment is proficient in destroying cancer cells with just one source of light.

End User Analysis

In 2023, The Hospital segment accounted for a significant 39.2% revenue share in the market.

Based on the end users, the market is segmented into hospitals, cosmetics and dermatology clinics, cancer treatment centers, and others. The hospitals segment held the largest market share of 39.2% in 2023. The rise in demand for minimally invasive treatments in hospitals and the surge in the number of hospitals offering PDT to cancer patients is driving the segment growth.

Additionally, factors promoting the growth of this market include the rise in demand for advanced treatments and greater awareness of the advantages of PDT as an anticancer treatment. Hospitals providing personalized care to maximize the effectiveness of the therapy are further driving the segment growth.

Key Market Segments

By Type

• Photosensitizer Drugs
• Aminolevulinic Acid
• Porphyrin Derivatives
• Chlorines
• Devices
• Disposable Fiber Optic Light Delivery Devices (DFOLDD)
• Diode Laser
• Others

By Application

• Cancer
• Actinic Keratosis
• Acne
• Psoriasis
• Other Appication

By End User

• Hospitals
• Cosmetics & Dermatology Clinics
• Cancer Treatment Centers
• Others End user

Drivers

The rise in prevalence of cancer is one of the factors driving market growth

The global photodynamic therapy market is expected to be driven by the rise in demand for photosensitizer medication and equipment used in the treatment of various forms of cancer. The most common types of cancer are lung cancer, stomach cancer, kidney cancer, head and neck cancer, and throat cancer. PDT is very effective and is widely used for such cancer treatments.

Over time, it has become immensely popular and manufacturers are focusing more on making advanced and better versions of the products. According to the American Cancer Society data published in January 2022, around 1,918,030 new cancer cases and 609,360 cancer deaths occurred in the US.

Advancement in Technology

The accuracy and effectiveness of PDT has been driven by the development of new light sources, photosensitive drug, and imaging technologies. These advancements attract both patients and healthcare professionals, which helps grow the market.

Restraints

A significant challenge restricting market growth is the expensive cost of PDT treatment.

One of the main drawbacks of PDT treatment is its high cost. PDT is quite expensive in comparison to other medical procedures. There are some factors contributing to high costs, such as apparatus cost, the cost of the photosensitizer, and the cost of the light source. Also, PDT usually requires numerous sessions, which can raise the overall cost of care.

Opportunity

Nanoparticle-based photodynamic therapy attracted significant Interest

Photodynamic therapy based on nanoparticles (NP) has gained a lot of attention recently for enhancing wound healing of the skin, bone, and cartilage. Nanoparticle-based PDT can improve tissue regeneration by promoting cell proliferation and generating reactive oxygen species (ROS) by photodynamically adjusting the temperature of wounds.

Trends

The photodynamic therapy market is driven by several market trends like the Introduction of portable PDT devices

Companies are also developing Portable Photodynamic Therapy (PPT) devices for at-home skin cancer treatments. The use of portable PDT devices is especially important in developing countries where patients have to travel long distances to receive advanced dermatological care. The new Portable Irradiation Devices (PADs) are compact and attached to the skin with medical adhesive tape.

Regional Analysis

North America was the largest region in the photodynamic therapy market, accounting for 32.5% share in 2023, and holds USD 0.78 Billion market value for the year.

Based on region, the global PDT market can be divided into the following sub-regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America leads the market for photodynamic therapy, followed by Europe, Asia-Pacific, and the rest of the world. This is because photodynamic therapy is widely used in the region and major players are present in the US, rise in demand for new biologics for the treatment of cancer, and market players are introducing new products and technology. Skin diseases and cancer are on the rise in this region.

Approximately 50 million people in the United States suffer from acne every year, with over 15% of women suffering from it. This is evidence of the need for advanced skin treatments. This is expected to affect the size of photodynamic therapy in the region. Additionally, as more products are being approved by the U.S. Food and Drug Administration (FDA), more cosmetologists are delivering Photodynamic Therapy (PDT), thus, driving the demand.

Key Regions

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia & CIS
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of MEA

Key Players Analysis

Strong Focus on Product Portfolio Expansion through Various Strategies Maintains the Dominance Of Industry Leaders

With the presence of several key players across the globe, the photodynamic therapy market is fragmented. New key players are subject to intense competition from leading market players, particularly those with strong brand recognition and high distribution networks. Companies have gained various expansion strategies, partnerships, and developments in new research technologies to stay on top of the market.

Biofrontera is a Key player who has begun development in PDT

Biofrontera is committed to the treatment of various forms of non-melanoma skin cancer, such as actinic keratosis, field cancerization, and basal cell carcinoma. Over the past 10 years, Biofrontera has acquired comprehensive know-how in the field of photodynamic therapy (PDT).

Market Key Players

The following are some of the major players in the industry

• Galderma Laboratories, L.P.
• Biofrontera AG.
• Excel Lasers Limited.
• LUMIBIRD Medical
• Modulight Corporation
• Quest PharmaTech, Inc.
• Theralase Technologies Inc.
• SUS Advancing Technology Co., Ltd.

Recent Development

• In August 2023, LUMIBIRD Medical expanded its presence in the medical laser market through the acquisition of Lumenis. This strategic move enhances LUMIBIRD’s capabilities, particularly in PDT applications, strengthening its overall position in the industry.
• In August 2023, Galderma Laboratories, L.P. formed a strategic partnership with Photosonix Medical Inc. to collaboratively work on developing and bringing to market the VELAS laser system. This innovative system is intended for use with Galderma’s PDT product portfolio.
• In July 2023, Biofrontera AG achieved a significant milestone by introducing the Ameluzact PDT system to the US market. This system is designed for the treatment of actinic keratosis, offering a new solution to address this medical condition.
• In May 2023, Excel Lasers Limited unveiled plans for a novel portable laser system tailored specifically for PDT applications. This development signifies a step forward in making PDT technology more accessible and versatile.

Report Scope