Photodynamic Therapy Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product (Photodynamic Therapy Devices, Photosensitizer Drugs), By Indication (Cancer, Actinic Keratosis, Acne, Psoriasis, Others), By End-user (Hospitals, Cancer Treatment Centers, Cosmetic and Dermatology Clinics and Others) and Region Forecast 2020-2031

Photodynamic Therapy market size was valued at US$ 3,782.1 million in 2024 and is projected to reach US$ 6,113.1 million by 2031, growing at a CAGR of 7.1% from 2025-2031. Moreover, in the USA, the Photodynamic Therapy market size was valued at US$ 1,076.3 million in 2024 and is projected to reach US$ 1,762.5 million by 2031, growing at a CAGR of 7.3% from 2025-2031. Photodynamic Therapy (PDT) is an innovative treatment combining photosensitizer drugs with light and oxygen to generate reactive oxygen species (ROS) that destroy cancer cells and induce tumor regression. Photosensitizers (PS) play a crucial role in PDT due to their efficacy, while lasers and oxygen provide precise, adaptable delivery. Regulatory authorities have approved several PDT treatments, with many others undergoing clinical trials, showcasing its medical relevance.

According to the World Health Organization Report 2020, Cancer is the main cause of mortality globally, accounting for up to 10 million fatalities, or close to one in every six lives., lung, Breast, colon, prostate, and rectum cancers are the most prevalent types of cancer. PDT has been demonstrated to be beneficial in treating breast cancer that is resistant to many drugs. According to a report by the Skin Care Foundation, skin cancer is the most common cancer in the US and worldwide. One in five Americans may have skin cancer by the time they are 70 years old. In the United States, skin cancer causes the death of more than two individuals every hour. The chance of developing melanoma is doubled if someone had five or more sunburns.

According to estimates, the yearly cost of treating skin cancers in the United States is $8.1 billion, of which $3.3 billion goes toward melanoma and $4.8 billion goes toward nonmelanoma skin cancers. Between 1994 and 2014, the U.S. had a 77 percent rise in the detection and treatment of nonmelanoma skin malignancies, which may have boosted the market for photodynamic therapy. An increase in cancer prevalence, continuous research projects, acceptance of cutting-edge technology, an increase in government support and initiatives, and high healthcare costs will boost the market of photodynamic therapy. Side effects of photodynamic therapy and the high cost of product development and treatment can hinder the market growth of photodynamic therapy.  

Key Developments

• In May 2024, The National Medical Products Administration approved photocure partner Asieris’s new drug application for the regulatory review of cevira for potential marketing authorization in china. Cevira is a photodynamic drug device combination product designed for the non-surgical treatment of high grade squamous intraepithelial lesions. It is licensed to Asieris by photocure.
• In February 2024, To treat glioblastoma with innovative photodynamic therapy a new clinical trial was launched at UPMC and the UPMC Hillman cancer center. The new clinical trial will combine intraoperative PDT with the drug pentalafen and a new laser device Heliance, developed by the Hermerion therapeutics, a French company.
• In February 2023, The FDA approved the ML6710i photodynamic laser for use with verteporfin to treat age-related macular degeneration (AMD). This innovative, iPad-controlled laser targets abnormal blood vessels in AMD. Set for mid-2023 release, it addresses unmet needs, enhancing precision and outcomes in PDT for eye care professionals and patients.
• In May 2021, Modulight Developed heat shock protein 90-targeted PDT for inflammatory breast cancer, a clinical trial of HS201-PDT will soon be initiated at Duke University for breast cancer patients.
• In April 2021, Lumeda Inc., which is a technology startup, announced the conclusion of its Series A funding. The company is developing PDT as an intraoperative adjuvant therapy for patients. With the help of this funding, Lumeda will continue to develop its ground-breaking PDT system, which blends AI with specialized hardware and software.
• In May 2021, Modulight Developed heat shock protein 90-targeted PDT for inflammatory breast cancer, a clinical trial of HS201-PDT will soon be initiated at Duke University for breast cancer patients.

Photodynamic Therapy Market Segmentation

Based on the product the market

• Photodynamic Therapy Devices
• Photosensitizer Drugs

The major segment in the Photodynamic Therapy market is Photosensitizer Drugs, given their essential role in activating the therapeutic process. These drugs absorb light to generate cytotoxic reactive oxygen species, crucial for tumor destruction. Their proven clinical efficacy and regulatory approvals drive their dominance, making them integral to effective PDT treatments worldwide.

Based on the indication

• Cancer
• Actinic Keratosis
• Acne
• Psoriasis
• Others

Cancer remains a leading global health challenge, with nearly 10 million deaths annually, as reported by the WHO in 2020. Lung, breast, and colorectal cancers are the most prevalent. In the U.S., 1.96 million new cases were projected in 2023, emphasizing the urgent need for effective prevention, diagnosis, and treatment strategies.

Based on the End User the market

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

Hospitals dominate the Photodynamic Therapy market due to their extensive infrastructure for advanced oncology and dermatology treatments. With high patient inflow and access to cutting-edge technologies, hospitals provide comprehensive PDT services. Their pivotal role in cancer care and research ensures widespread adoption, making them the leading end-user segment globally.