The latest market report published by Credence Research, Inc. “Global Photopheresis Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 – 2025,” the photopheresis market was valued at USD 241.0 Mn in 2016, and is expected to reach USD 399.8 by 2025, expanding at a CAGR of 5.7% from 2017 to 2025.
Photopheresis is a form of apheresis and photodynamic therapy in which blood is treated with a photosensitizing agent and then treated with specified wavelengths of light to attain an effect. In this process, buffy coat (WBC + platelets) is separated from whole blood, then chemically treated with 8-methoxypsoralen, later exposed to ultraviolet light (UVA), and returned to the patient.
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Autoimmune diseases have become highly prevalent across the globe, incessant research and development activities are carried out to find the most effective treatment. Photopheresis is observed as one of the most promising treatment options in several therapeutic areas such as solid organ transplant rejection, autoimmune diseases, chronic graft versus host diseases, and advanced cutaneous T-cell lymphoma. Globally the incidence of cutaneous T-cell lymphoma (CTL) is increasing and research and development associations are working for its treatment. According to the Cutaneous Lymphoma Foundation, every year around 1500 new cases of (CTL) are reported in the United States.
In case of product type photopheresis market is segmented as open system and closed system. In year 2016, closed system was observed as the largest segment in photopheresis market due to key market drivers such as technologically advanced than open systems, increasing preference for these systems from medical practitioners, and covers all major chronic diseases.
During the forecast period 2017 – 2025, autoimmune diseases was observed as the fastest growing segment in photopheresis market due to key factors such as rising awareness against the most prevalent autoimmune diseases, market introduction of novel diagnostic technology, and incessant research and development activities carried out by market players.
In year 2016, North America was observed as the largest photopheresis market due to rising prevalence of autoimmune diseases, increasing procedures of organ transplant, and high awareness associated with novel diagnostics and treatment technologies. During the forecast period 2017 – 2025, Asia Pacific was observed as the fastest growing segment due to rising awareness associated with autoimmune diseases and organ transplant rejection cases, developing healthcare infrastructure, supportive government policies, and incessant development in the field of research and development.
Market Competition Assessment:
The photopheresis market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Macopharma, Haemonetics Corporation, Med Tech Solutions GmbH, Terumo Corporation, Fresenius Kabi AG, and Mallinckrodt Pharmaceuticals among others.
Key Market Movements:
- Rising awareness associated with orphan diseases across the globe
- Incessant research and development carried out in the field of photopheresis
- The growing incidence of cutaneous T-cell lymphoma is propelling the demand for photopheresis products.