The latest market report published by Credence Research, Inc. “Photopheresis Products Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global photopheresis market was valued at US$ 257 Mn in 2017 and expected to reach US$ 418.56 Mn by 2026, expanding at a CAGR of 5.5% from 2018 to 2026.
Browse the full report Photopheresis Products Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://www.credenceresearch.com/report/photopheresis-market
Photopheresis employs apheresis and photodynamic therapy for treating blood with photosensitizing agent followed by treatment with specified wavelengths of light. In photopheresis, buffy coat (WBC and platelets) is separated from the whole blood and thereafter chemically treated with 8-methoxypsoralen and exposed to ultraviolet-A light. As the prevalence of autoimmune diseases, perpetual research and development activities are being undertaken to devise the most appropriate treatments. Photopheresis is also touted as a promising treatment for treatment of transplant rejection, graft versus host disease, cutaneous T-cell lymphoma and autoimmune diseases.
Based on product types, the global photopheresis products market is segmented into closed systems and open systems. In 2017, closed systems segment held the largest share in the market due to its evolved technology and growing preference of patients and physicians in employing closed systems for photopheresis treatments. The popularity of closed systems is also attributed to their flexible usage across all the considered therapeutic areas.
Among the considered therapeutic areas namely, autoimmune diseases, graft versus host disease, cutaneous T-cell lymphoma and solid organ transplant rejection, photopheresis finds highest application in autoimmune diseases. Graft versus host disease is observed as the largest segment in 2017 due to factors such as growing allogeneic transplantations, large number of chronic graft versus host disease patients, evolution of diagnostic technologies and consistently growing efforts in research and development activities.
Geographically, North America is the largest regional market for photopheresis. Presence of large pool of autoimmune disease patients, greater awareness in general population, well-structured reimbursement scenario and widespread presence of market incumbents contribute to the dominant position of North America. On the other hand, Asia Pacific is estimated to be the fastest progressing market for photopheresis. Rapidly developing healthcare infrastructure, significantly large patient pool and improving diagnostics front are the key growth drivers of Asia Pacific market.
The global photopheresis market is highly competitive and diversified, characterized by the presence of large number of players. The domination of the key players is subject to their product diversity and core competencies. Some of the major players operating in the global photopheresis market are Terumo Corporation, Malinckrodt Pharmaceuticals, Fresenius Kabi AG, Macopharma, Haemonetics Corporation, and others.
Key Market Movements:
- High prevalence of autoimmune diseases, and growing number of transplants, supported by evolved diagnostics technologies
- Increasing awareness about benefits of apheresis and photopheresis
- Improving reimbursement for autoimmune diseases and organ transplantations
- Evolving medical tourism industry in Asia Pacific and Latin America