The global photopheresis products market is anticipated to witness a healthy growth curve in coming years, according to a Transparency Market Research (TMR) study. High level of consolidation exists in the global photopheresis products market. Vendors in the global market are seen focusing in a number of organic as well as inorganic growth strategies in order to gain an upper hand over their rivals. Prominent schemes adopted by market players in the global photopheresis market included launch of new products, devices, and kits.
For instance, in 2012, Medicare increased the ECP treatment reimbursement coverage for the permanent dysfunction in lung allograft transplants, bronchiolitis obliterans syndrome (BOS). Such instances are expected to act an example for new vendors to follow in the photopheresis products market.
Leading players in the global photopheresis products market are Med Tech Solutions GmbH, Fresenius Kabi AG, Macopharma, Mallinckrodt Pharmaceuticals Haemonetics Corporation, and Terumo Corporation.
The top three players in the global photopheresis products market are responsible for more than 95% of the total market share. These are Mallinckrodt, Macopharma, and Med Tech solutions.
It is estimated that over the forecast period from 2016-2024 the worldwide photopharesis industry will produce a CAGR of 5.9 percent. At this rate, it is projected that, by the end of the forecasting period, the market worth $223.1 million in 2015, will reach $371.1 m.
In terms of the pace of photopheresis market development during the prediction era, Asia-Pacific will overtake North America. The Asia-Pacific photopheresis market, which in 2015 accounted for only around 4 percent of the world economy, is anticipated to show the leading CAGR at 6.6 percent between 2016 and 2024.
Advances in Healthcare to Bolster Photopheresis Products Market
Photopheresis is famous for its treatment option used in multiple autoimmune diseases, organ transplants such as developed kidney and liver T-cell lymphoma and chronic acute vs host disease (GVHD). Photo-pheresis is also common. US. American. In 1988 FDA initially endorsed the leukapheresis-based therapeutic procedure, the extracorporeal photoimmunotherapy (ECP), which has been now known as extracorporeal photo-immunotherapy.
In Photopheresis, after UVA-radiation 8-MOP, the white blood cells are recovered. For photopheresis devices, a large number of open and closed systems, including closed systems only authorized by the USA, are accessible because of its lower risk of re-infusion contamination, and infection. This is one the prominent factors driving the global photopheresis products market in coming years.
Surge in Auto-immune Diseases to Offer Lucrative Opportunity
Autoimmune disease is anticipated to be increasingly prevalent and organ transplant instances will increase on the market for photopheresis equipment. One of the main factors which should influence the market in photopharesis systems is the safer and efficient handling promised by the implementation of these systems. A major part of market growth is the enhanced public refund policies and personal health insurance. The market will increase awareness of ECP treatment. The greater costs, the longer the time and the continuing treatment sessions should hinder the market. The market is anticipated to be dampened by the accessibility of less ECP treatment centers.
However, government bodies are gradually promoting ECP therapy to treat a range of diseases as reimbursement for the therapy. Ideal repayment policies and the resulting extent of recovery expenses under public-built discounts urge patients to have ECP therapy for distinct illnesses. This is expected to favor the growth the photopheresis products market in coming years.
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.”
For the study, the global photopheresis products market has been segmented as follows:
- Open system
- Closed system
- Graft versus host disease
- Transplant rejections
- Autoimmune diseases
- Cutaneous T-cell lymphoma
- Specialty clinics
- North America
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
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