Press release
Photopheresis Products Market projected to expand at a CAGR of above 5.3% from 2019 to 2027
Photopheresis Products Market
Overview
Photopheresis products are mainly used to treat cutaneous T-cell lymphoma conditions. In the photopheresis treatment procedure white blood cells are collected from the blood and they are mixed with photosensitizer and treated with UV light. New therapeutic indications options are boosting the growth of this market.
Furthermore, photopheresis therapy is majorly used in treating the patients who are not responding to steroids therapy in transplant rejection conditions. Photopheresis therapy is safer therapy when compared with steroids due to lack of side effects.
North America dominated the global photopheresis therapy market in 2018 and the trend is anticipated to continue during the forecast period, As Governments provide reimbursement for various disease indications such as GVHD, CTL, and lung transplantations that are treated by ECP therapy.
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Corporate entities boosting the research activities on ECP therapy to Drive Photopheresis Products Market
Corporates are actively encouraging research on photopheresis treatment by providing monetary support to researchers.
In 2014, Freseinus Kabi conducted an award contest on advanced research in therapeutic apheresis and cell therapy. The company has granted US$ 100,000 to the research team led by John Koreth, Dana Farber Cancer Institute, for his work on treating chronic GvHD condition by using photopheresis and low-dose interleukin-2 (IL-2).
Closed System Segment to Capture Largest Market Share
Based on product, closed system devices has the highest revenue as compared to open systems and is expected to be dominate over the forecast period in 2019, as closed photopheresis system is the only FDA approved system to treat CTL conditions.
Graft versus host disease to dominate Market in Term of Therapeutic Application
Based on therapeutic area, the market has been segmented into cutaneous T-cell lymphoma, graft versus host disease, transplant rejections and autoimmune diseases. Graft versus host disease is expected to dominate the market over the forecast period due to increase in allogeneic stem cell transplantations worldwide. In addition to that, increase in usage of photopheresis therapy in organ transplantations are boosting the growth of this market over the forecast period
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Hospital to be Highly Lucrative Segment
Based on end-user, the global photopheresis products market has been divided into hospitals and specialty clinics. The hospitals segment is anticipated to expand at the highest CAGR during the forecast period. Availability of multiple treatments options in hospitals enables patients to opt more for hospitals than specialty clinics.
North America to Dominate Global Market
In terms of region, the global photopheresis products market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global photopheresis products market in 2019, followed by Europe.
The growth of the photopheresis products market in North America is attributed to the favorable reimbursement scenario and increasing prevalence of cutaneous T cell lymphoma and GvHD conditions. In 2012, Medicare extended reimbursement coverage for ECP therapy to treat bronchiolitis obliterans syndrome (BOS), a chronic lung allograft transplant dysfunction in the U.S.
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Competitive Landscape
Companies have developed advanced photopheresis medical devices to overcome the problems of conventional medical devices. Conventional photopheresis systems are more prone to cause infections, leakage problems, and prolonged treatment time. Hence, companies are using advanced medical devices to overcome these problems.
Key players in the global market include Macopharma, Med Tech Solutions GmbH, Haemonetics Corporation, Fresenius Kabi AG, Terumo Corporation, and Mallinckrodt Pharmaceuticals among others among others.
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