Global photopheresis products market will exhibit a 5.9% CAGR over the period between 2016 and 2024. At this pace, the market, which had a valuation of US$223.1 mn in 2015, is expected to rise to US$ 371.1 mn by 2024.
Albany, NY -- (SBWIRE) -- 12/15/2016 -- The photopheresis products market is mainly driven by growing Graft versus host disease conditions globally. Furthermore the rising coverage of healthcare and increasing in transplantations expected to grow photopheresis products market growth. However, the market growth is hindered by lack of many photopheresis treatment centers and high cost involved in therapy. In the U.S., ECP therapy costs around US$8000/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. According to research article, globally, around 26% to 36% recipients of full matched sibling donor grafts suffer from acute graft versus host disease conditions. Photopheresis therapy is a U.S FDA approved treatment to treat cutaneous T-cell lymphoma conditions.
However, it is most commonly used in treating graft versus host disease conditions. Furthermore, in 2016, Swedish government has given reimbursement for lung transplantations by using photopheresis therapy. Currently few clinical trials are undergoing on photopheresis therapy to explore its benefits to treat autoimmune disease conditions. Treatment of autoimmune diseases using photopheresis therapy is still in nascent phase. Mallinckrodt pharmaceuticals is actively conducting clinical trials on novel therapeutic indications like Cohn's disease, multiple sclerosis conditions and more over. In 2015, Therakos Inc., was acquired by Mallinckrodt to strengthen its revenue generation from hospital segment. Based on the product type, photopheresis products are segmented into open systems and closed systems. Closed systems are mostly used globally to treat various disease conditions and these are technologically advanced systems than the open systems. In USA, closed systems dominates the market and they are approved by U.S FDA to treat cutaneous T-cell lymphoma conditions. In Europe, both closed systems and open systems are commonly preferred to treat various disease conditions.
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Global Photopheresis Products Market: Scope of the Report
The report is a combination of primary and secondary research. Primary research formed the bulk of our research efforts, with information collected from telephonic interviews and interactions via e-mail. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various national and international databases. The report provides market size in terms of US$ Mn for each segment for the period from 2016 to 2024, considering the macro and micro-environmental factors. Growth rates for each segment within the photopheresis products market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, vaccination expenditure, and regulatory requirements.
The market overview section of the report includes qualitative analysis of the photopheresis products market including the determining factors and market dynamics such as drivers, restraints, market trends and opportunities, along with white space analysis. In addition, market attractiveness analysis by country, isotopic application and end-user along with competitive landscape by key players have been provided which explain the intensity of competition in the market considering different geographical locations. The competitive scenario between market players has been evaluated through market share analysis. These factors would help the market players take strategic decisions in order to strengthen their positions and increase their shares in the global market.
Global Photopheresis Products Market: Geographical and Competitive Dynamics
The market is driven by increase in graft versus host disease conditions and novel benefits of photopheresis therapy in different therapeutic indications. The market is expected to grow due to favorable reimbursement scenario in various countries for photopheresis therapy. In terms of End user, specialty clinics are less preferred when compared with hospitals. This is mainly due to the high cost of the photopheresis products which can only afford by the hospitals.
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Geographically, the global photopheresis products market has been segmented into five regions with North America leading the market in 2015 followed by Europe and Asia Pacific. The requirement for photopheresis products are rapidly growing in Asia Pacific due to increase in transplantations and penetration of key market players entering into this geography are expected to drive the growth of this market during the forecast period.
Key companies profiled in the report include Macopharma, Med Tech Solutions GmbH, Haemonetics Corporation, Fresenius Kabi AG, Terumo Corporation, and Mallinckrodt Pharmaceuticals.
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