Photodynamic Therapy Devices Market Size Worth $12.33 Billion By 2032 | CAGR: 9.1%

The global photodynamic therapy devices market size is expected to reach USD 12.33 billion by 2032, according to a new study by Polaris Market Research. The report “Photodynamic Therapy Devices Market Share, Size, Trends, Industry Analysis Report, By Product (Diode Laser and Disposable Fiber Optic Light Delivery Devices); By Application; By End Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Photodynamic therapy (PDT) devices are medical instruments used in photodynamic therapy. This treatment approach involves the use of light-sensitive drugs, known as photosensitizers, in combination with specific wavelengths of light to treat various medical conditions. The photosensitizer is administered to the patient, and when activated by light of a specific wavelength, it produces a form of oxygen that helps destroy nearby cells, including targeted abnormal or diseased cells.

The rise in the incidence of conditions such as certain types of cancer, skin disorders, and ophthalmic conditions has contributed to the demand for innovative and effective treatment modalities, including photodynamic therapy. Ongoing technological advancements in the development of photosensitizers, light sources, and PDT devices have improved the efficacy and safety of photodynamic therapy, driving demand for more sophisticated devices.

Furthermore, increased awareness among healthcare professionals and patients about the benefits of PDT, including its non-invasive or minimally invasive nature and its potential for selective targeting, has led to greater acceptance and demand.

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A surge in product approvals granted by the United States Food and Drug Administration, increased adoption of photodynamic therapy for the treatment and care of actinic keratosis, and a growing number of cosmetologists offering photodynamic therapy services are propelling the photodynamic therapy market in North America. In December 2021, Biofrontera Inc. reported the enrollment of the first subject in a Phase 1 study aimed at assessing the tolerability and safety of photodynamic therapy (PDT) for treating AK (actinic keratosis), utilizing three tubes of Ameluz in conjunction with the company's BF-RhodoLED XL lamp. Anticipated product approvals like these are poised to stimulate market growth in the region.

According to the American Cancer Society's data updated in January 2022, approximately 1,918,030 new cancer cases and 609,360 cancer-related deaths are projected to occur in the United States. The imperative for more targeted cancer control interventions, coupled with investments in enhanced early detection and treatment methods, could facilitate reductions in cancer mortality rates. Consequently, the rising incidence of cancer cases is expected to drive the demand for treatment, thereby accelerating market growth in the region.

Photodynamic Therapy Devices Market Report Highlights

• In 2023, the cancer segment accounted for the largest revenue share. Photodynamic therapy has proven effective in the treatment of various types of cancer, including skin cancers (such as basal cell carcinoma and squamous cell carcinoma), lung cancer, esophageal cancer, and certain types of head and neck cancers. Its diverse applications in oncology make it a valuable tool for treating different forms of the disease.
• The hospital segment is expected to witness the highest market share during the forecast period due to comprehensive infrastructure and specialized medical staff, which makes hospitals the ideal setting for conducting PDT procedures.
• In 2023, North America accounted for the largest market share due to high healthcare expenditure, advanced healthcare infrastructure, strong medical research and development hub, and regulatory bodies in North America, such as the U.S. Food and Drug Administration (FDA), are known for their rigorous evaluation processes.
• The global key market players include Biolitec AG, Boston Scientific Corporation, Candela Corporation, Coherent Corp., Cutera Inc., Excel Lasers, IRIDEX Corporation, and more.

Polaris Market Research has segmented the photodynamic therapy devices market report based on product, metal, biomaterial, end-use, and region:

Photodynamic Therapy Devices, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Diode lasers
• Disposable fiber optic light delivery devices

Photodynamic Therapy Devices, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Cancer
• Actinic keratosis
• Acne
• Psoriasis
• Others

Photodynamic Therapy Devices, End Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospitals
• Clinics and dermatology centers
• Others

Photodynamic Therapy Devices, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of APAC

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of MEA

Photodynamic Therapy Devices Market Report Scope