Photopheresis Products Market
Photopheresis Products Market (Product Type - Open System and Closed System; End User - Hospitals and Clinics; Application - Cutaneous T-cell Lymphoma, Graft versus Host Disease, Transplant Rejections, and Autoimmune Diseases) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027
Press Release :
- According to Transparency Market Research’s latest report on 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 2027
Request a sample to get extensive insights into the Photopheresis Products Market
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
To understand how our report can bring difference to your business strategy, Ask for a brochure
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
- 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
Stuck in a neck-to-neck competition with other brands? Request a custom report on Photopheresis Products Market
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.
- 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 - Scope of Report
TMR’s report on the global photopheresis products market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2020 to 2030. The report provides revenue of the global photopheresis products market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global photopheresis products market during the forecast period.
The report has been prepared after extensive primary and secondary researches. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players, Product Type literature, annual reports, press releases, and relevant documents to understand the global photopheresis products market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global photopheresis products market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global photopheresis products market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global photopheresis products market.
The report delves into the competitive landscape of the global photopheresis products market. Key players operating in the global photopheresis products market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global photopheresis products market that have been profiled in this report.
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?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global photopheresis products market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary researches, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the product type of the global photopheresis products market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, Product Type portfolio managers, and market intelligence managers, who contributed to TMR’s study on the photopheresis products market as primary research sources.
These primary and secondary research sources have provided exclusive information during interviews, which serves as a validation from the photopheresis products market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global photopheresis products market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global photopheresis products market more reliably and accurately.
Regional Segmentation of Photopheresis Products Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Photopheresis Products Market - Segmentation