The understanding of various intrinsic photobiophysical processes has prompted researchers to develop different types of biodevices for health care. In the recent past, because of extensive contributions from various groups in the field of biophotonics, several important biomedical applications are emerging in the fields of both diagnostics and therapy. In this brief review, we discuss a few specific applications related to early detection and characterization of premalignant and malignant lesions using optical spectroscopic techniques, namely, fluorescence and Raman, and in management of cancer, the emerging scene of photodynamic therapy.