Published: Mar, 2018
The global Photopheresis market products is expected to witness a positive growth curve over the coming years. According to a recently published report by Transparency Market research (TMR), the competitive landscape of the global photopheresis products market is a highly consolidated one. In 2015, it was observed that the top three players together held over 95% of the market. Leading vendors of the market are Med Tech solutions GmbH, Mallinckrodt, and Macopharma. The companies are known to engage in investment of new, innovative devices and kits.
The report estimates that the global market for photopheresis products will market a CAGR of 5.9% over the forecast duration of 2016 to 2024. At this rate, the market that was valued to be at US$223.1 mn in 2015, is expected to reach US$371.1 mn by the end of the forecast period.
North America to Emerge as Leading Regional Market
The key segments of photopheresis systems at present accessible in the market fall in two primary classes: open system and closed system. Of these, the products falling under the classification of closed systems are generally utilized by the human services experts as these products offer favorable circumstances, for example, less danger of disease and tainting, diminished treatment time, and simple treatment strategy over open systems. In addition, closed system photopheresis gadgets are the main gadgets endorsed by the FDA for the treatment of CTL conditions. Around 70-80% of the general photopheresis gadgets in the worldwide market directly are closed systems and whatever is left of open system photopheresis gadgets.
North America drives the worldwide photopheresis products market, representing a sizable portion of the market in 2015. The locale is anticipated to hold its predominance over the coming years as well. The tremendous reimbursement provided by governments to different disease symptoms, for instance, GVHD, CTL, and lung transplantations treated by ECP treatment is a key factor adding to the region’s driving position in the worldwide market.
Technological Advances to Offer Lucrative Growth Opportunities
More secure and compelling treatment by utilizing photopheresis system is relied upon to be one of the potential drivers of the photopheresis products market amid the gauge time frame. The vast majority of the techniques right now utilized for regarding conditions, for example, join versus-have and cutaneous T-cell lymphoma prompt certain reactions. The guarantee of better wellbeing and viability of the extracorporeal photopheresis (ECP) treatment has prompted the rising inclination of medicinal services professionals to this system over other medication medicines.
Government bodies are additionally progressively promising patients to experience ECP treatment to treat an assortment of sicknesses as repayments for the treatment. The ideal repayment strategies and the resultant scope of restorative costs under government-bolstered discounts is urging patients to experience ECP treatment to treat different sickness conditions.
ECP is being utilized as a part of treatment of different dermatogenic issue, including scleroderma, scleromyxedema, oral lichen planus, and unmanageable pemphigus vulgaris and foliaceous. Concentrates additionally give confirmations to the utilization of adjunctive photopheresis in confront transplantation and prophylaxis against heart transplant dismissal. In addition, ECP has been discovered compelling against recalcitrant incessant lung transplant dismissal and tireless intense lung transplant dismissal.
This review is based TMR’s report 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”
- Extracorporeal photopheresis (ECP) to be emerge as leading market segment.
- Government funding toward treatment to offer rich market growth opportunity.
For the study, the market has been segmented as follows:
Global Photopheresis products Market, by Product
- Open system
- Closed system
Global photopheresis products market, by Therapeutic Area
- Graft versus host disease
- Transplant rejections
- Autoimmune diseases
- Cutaneous T-cell lymphoma
Global photopheresis products market, by End User
- Specialty clinics
Global Photopheresis products Market, by Geography
- North America
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
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