The global photopheresis products market for the historical period 2017–2018 and forecast period 2019–2027. The global photopheresis products market is driven by increase in increase in organ transplantations, increase in cutaneous T-cell lymphoma and favorable reimbursement policies.
According to the report, the global photopheresis products market was valued at US$ 262.4 Mn in 2018 and is anticipated to expand at a CAGR of 5.3% from 2019 to 2030
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Increase in Cutaneous T-cell Lymphoma Population: Key Driver
Cutaneous T-cell lymphoma is a rare type of non-Hodgkin lymphoma that affects the skin. According to the Cutaneous Lymphoma Foundation, the incidence of CTL is approximately 1500 new cases per year in the U.S. and prevalence of CTL is around 16,000 to 20,000 cases. Physicians follow various therapies to treat CTL conditions.
However, ECP is considered the first line therapy to treat IIB and IV MF conditions and is more effective in treating sezary syndrome patients
Expensive and Long Treatment Procedure: Restraints
ECP therapy is reimbursed by governments; however, these are still costly even after reimbursement. ECP therapy takes longer time to treat and perform.
For instance, on average, it takes around two to three hours to treat various disease conditions using photopheresis medical devices
In the U.S., ECP therapy costs around US$ 8000 per treatment and every individual has to take the treatment for every two weeks and continue the same procedure for one year to complete the treatment.
Global Photopheresis Products Market: Competitive Landscape
This report profiles major players operating in the global photopheresis products market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global photopheresis products market is highly fragmented, with the presence of a number of international as well as regional players
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Leading players operating in the global photopheresis products market include
- Med Tech Solutions GmbH,
- Haemonetics Corporation,
- Fresenius Kabi AG,
- Terumo Corporation,
- Mallinckrodt Pharmaceuticals others among others
Global Photopheresis Products Market: Key Developments
Key players in the global photopheresis products market are engaged in regulatory approvals, launch of new products, training and development, acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global photopheresis products market. A few expansion strategies adopted by players operating in the global photopheresis products market are:
Recently in October 2019, Mallinckrodt plc a global biopharmaceutical company, and Terumo BCT, a global leader in blood component, announced that UVADEX (methoxsalen) has received regulatory approval in Australia by the Australian Therapeutic Goods Administration (TGA) for extracorporeal administration with the THERAKOS CELLEX Photopheresis System.
The report on the global photopheresis products market discussed individual strategies, followed by company profiles of manufacturers of photopheresis products. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global photopheresis products market.
Photopheresis Products Market -Outline
The photopheresis products market is prognosticated to observe expansive growth prospects across the forecast period of 2019-2027. Photopheresis is a type of medical treatment that performs the function of isolating white blood cells through a device. The white cells then go through an 8-methoxy psoralen treatment before the patient receives the blood.
The rising awareness about organ transplantation and the expanding prevalence of autoimmune diseases will bring immense growth opportunities for the photopheresis products market during the assessment period. The World Health Organization (WHO) estimates that nearly 100,800 solid organ transplants are carried out every year. These figures state the growing popularity of organ transplants, which brings immense growth prospects for the photopheresis products market.
The growing geriatric population numbers across the globe have led to an increase in the demand for photopheresis products considerably. This aspect will add extra stars of growth to the photopheresis products market.
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The escalating focus of the government bodies of numerous countries on the healthcare infrastructure will sow the seeds of growth across the photopheresis products market. The high incidences of viral infections and chronic diseases have prompted many countries to focus intensively on ramping up the healthcare infrastructure. This factor bodes well for the growth of the photopheresis products market.
Research and development activities play a vital role in the growth of the photopheresis products market. The players invest substantially in these activities to gain insights. These activities help in the discovery of insights that help in enhancing or adding formulations to the products, ultimately helping in increasing the growth rate of the photopheresis products market.
Strategic collaborations are an important part of the growth trajectory of the photopheresis products market. Mergers, acquisitions, partnerships, and joint ventures are vital for the overall development of the photopheresis products market. The players indulge in these activities for cementing their stronghold over the photopheresis products market. These factors eventually contribute to the growth structure of the photopheresis products market.
The COVID-19 pandemic has caused distress across many sectors and businesses. The photopheresis products market is no exception. With the advent of the pandemic, many countries sealed their borders and enforced strict lockdown restrictions. All the economic activities and the movement of people came to a halt all of a sudden. It had a massive impact on the photopheresis products market. Even if photopheresis products were exempted from the lockdown restrictions, supply chain and logistics disruptions were reported, which caused great losses.
Global Photopheresis Products Market: Overview
Photopheresis is a type of photodynamic therapy solution wherein blood is treated with blood sensitizing agents. These blood sensitizing agents are then subjected to irradiation with specific light wavelengths. Products in the global photopheresis products market are witnessing increased demand owing to rising prevalence of various autoimmune diseases along with rising instances of organ transplant surgical cases. Other drivers for the global photopheresis products market include rising global healthcare infrastructures, increase in the geriatric population across the globe, and enhancements in medical technologies. Growing number of private healthcare insurance players along with supportive government reimbursement policies is also expected to thrust growth in the global photopheresis products market in coming years.
Additional motivators for the global photopheresis products market include faster approval timing required by regulatory bodies and rising adoption of the devices offered by the vendors and manufacturers in the global photopheresis products market. However, lack of awareness and resulting low penetration of extra corporeal photopheresis or ECP therapy centers can restrict the growth of the global photopheresis products market in the near future. Manufacturers and players in the global photopheresis products market are investing in advanced technologies to come up with faster and more efficient devices to be used in extra corporeal photopheresis or ECP therapy solutions. This trend is anticipated to favor the growth trajectory of the global photopheresis products market in coming years.
Key Questions Answered in Global Photopheresis Products Market Report
- What is the scope of growth of product type companies in the global photopheresis products market?
- What will be the Y-o-Y growth of the global photopheresis products market between 2020 and 2030?
- Will North America continue to be the most profitable market for photopheresis products providers?
- Which factors are anticipated to hamper the growth of the global photopheresis products market during the forecast period?
- Which are the leading companies in the global photopheresis products market?
Global Photopheresis Products Market – Segmentation
- Open ECP System
- Closed ECP System
- Cutaneous T-cell lymphoma
- Graft versus host disease
- Transplant rejections
- Autoimmune diseases
- Specialty Clinics
- North America
- Asia Pacific
- Latin America
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary : Global Photopheresis Market
4. Market Overview
4.1.1. By Product Definition
4.1.2. Industry Evolution / Developments
4.3. Key Market Indicators
4.3.1. Region/Country Specific
4.3.2. Product/Application/Therapeutic Area Specific
4.3.3. Target Market Specific – Global Scenario
4.4. Market Dynamics
4.4.Global Photopheresis Products Market Forecast, 2018-2027
4.4.1.Market Size Forecast
4.5.Organ and Stem Cell Transplantations Overview
4.6.Photopheresis Therapy Snapshot
4.7. Global Photopheresis Market Analysis and Forecasts, 2018-2027
4.7.1. Market Revenue Projections (US$ Mn)
4.8. Photopheresis Market – Global Supply Demand Scenario
4.9. Porter’s Five Force Analysis
4.10. Market Outlook
5. Global Photopheresis Market Analysis and Forecasts, By Product
5.1. Introduction & Definition
5.2. Key Findings / Developments
5.3. Key Trends
5.4. Market value Forecast By Product, 2018-2027
5.4.1. Open ECP system
5.4.2. Closed ECP system
5.5. By Product Comparison Matrix
5.6. Market Attractiveness By Product
6. Global Photopheresis Market Analysis and Forecasts, By End User
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Key Trends
6.4. Market value Forecast By End User, 2018-2027
6.4.2. Specialty Clinics
6.5. End User Comparison Matrix
6.6. Market Attractiveness By End User
7. Global Photopheresis Market Analysis and Forecasts, By Therapeutic Area
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Key Trends
7.4. Market value Forecast By Therapeutic Area, 2018-2027
7.4.1. Cutaneous T-cell Lymphoma
7.4.2. Graft-versus-Host Disease
7.4.3. Transplantation rejection
7.4.4. Autoimmune Disease
7.5. Therapeutic Area Comparison Matrix
7.6. Market Attractiveness By Therapeutic Area
8. Global Photopheresis Market Analysis and Forecasts, By Region
8.1. Key Findings
8.2. Policies and Regulations
8.3. Market value Forecast By Region
8.3.1. North America
8.3.2. Latin America
8.4. Market Attractiveness By Country/Region
9. North America Photopheresis Market Analysis and Forecast
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