With a few players enjoying complete dominance, the global photopheresis products market demonstrates an extremely consolidated structure, finds a new report by Transparency Market Research (TMR). In 2015, the top three companies, namely, Macopharma, Mallinckrodt, and Med Tech solutions GmbH, held more than 95% of the overall market. Researchers expect these companies to invest aggressively for the development of technically advanced, compact, and more effective devices and products in the near future.
According to the research report, the global market for photopheresis products was worth US$223.1 mn in 2015. Proliferating at a CAGR of 5.90% during the period from 2016 to 2024, the opportunity in this market is estimated to reach US$371.1 mn by the end of the forecast period. The demand for photopheresis products is likely to increase substantially in the near future due to the significant rise in the prevalence of cutaneous T-cell lymphoma (CTL) across the world, states the report.
Demand for Closed Systems to Remain High in Future
In this research report, open systems and closed systems have been considered as the key products available in the global photopheresis products market. Of these, the demand for closed systems has been higher than open systems, thanks to their widespread usage by healthcare practitioners, globally. In 2015, the closed systems segment accounted for a share of more than 80% in the overall market. Over the next few years, researchers expect this segment to maintain its lead on the grounds of their increased uptake, fueled by technological advancements and one-step procedure.
The report further analyzes the worldwide market for photopheresis products on the basis of the geography. As per the study, Asia Pacific, Latin America, North America, the Middle East and Africa, and Europe are the prime regional markets for these products across the world. North America emerged as the dominant contributor to this market in 2015 with a share of more than 52%. The regional market is expected to remain so over the period of the forecast, thanks to the presence of a state-of-art healthcare infrastructure and the favorable government reimbursement policies for various disease indications, such as CTL, GVHD, and lung transplantations, which require external counterpulsation therapy, notes the research study.
Increasing Reports of Side-effects Caused by existing Treatment Methods to Fuel Demand
The global market for photopheresis products has been witnessing a significant rise since the last few years and researchers expect the trend to remain so over the forthcoming years. “Since photopheresis technique ensures efficient yet safe treatment of various diseases, the demand for photopheresis products is likely to increase remarkably over the forecast period, reflecting positively on this market,” says a TMR analyst.
A number of side-effects of the existing methods used for the treatment of various conditions, such as cutaneous T-cell lymphoma, and graft-versus-host, are being reported worldwide. This, as a result, is expected to lead to the increasing preference for this technique over other drug treatments among healthcare practitioners in the near future. The better safety and efficiency photopheresis technique offers in extracorporeal photopheresis therapy is also expected to boost the demand photopheresis products over the forecast period. However, the high cost incurred and the lengthy treatment procedures may limit the adoption of photopheresis method of treatment, impacting the global market negatively in the years to come, states the report.
The study presented here is based on a report by Transparency Market Research (TMR), titled “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 2016 - 2024.”
The global photopheresis products market has been segmented as follows:
- Open system
- Closed system
By Therapeutic Area
- Graft versus host disease
- Transplant rejections
- Autoimmune diseases
- Cutaneous T-cell lymphoma
By End User
- Specialty clinics
- North America
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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