Global demand for photopheresis products market was valued at approximately USD 267.77 million in 2018 and is expected to generate revenue of around USD 397.34 million by end of 2025, growing at a CAGR of around 5.8% between 2019 and 2025.
The report covers forecast and analysis for the photopheresis products market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for photopheresis products market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the photopheresis products market on a global level.
As per the report, the global demand for photopheresis products market was valued at approximately USD 267.77 million in 2018 and is expected to generate revenue of around USD 397.34 million by end of 2025, growing at a CAGR of around 5.8% between 2019 and 2025.
Photopheresis is a form of photodynamic therapy in which blood is treated with blood sensitizing agent irradiated with specific wavelength of light. Worldwide demand for photopheresis products is growing at a rapid pace. Increasing prevalence of autoimmune diseases, growing counts of organ transplant cases are major factors driving global photopheresis products market. Growing health care infrastructure, improvement in advanced technologies, and rising geriatric population are factors which will further drive the market. Moreover, photopheresis products are more effective and safe. Increased government reimbursement policies and growing private health care insurance, growing awareness among people are the factors to drive market for given forecast period. Additionally, wide adoption of technological advancements and growing aging population and changing life style are some factors which are responsible for the growth of photopheresis products market. Also, the emergence of new photopheresis centers triggered by growing transplantations, faster approval of regulatory bodies, and increasing adoption of these devices will further drive global photopheresis products market. However, very high cost of ECP therapy and low penetration of ECP therapy centers are some factors that will hinder the growth of photopheresis products market in coming future.
Based on product, photopheresis products market is segmented into open system and closed system. Among them, close system segment held the maximum revenue in 2017. This was due to its evolved technologies and growing prevalence of autoimmune disease. The closed system is more popular among the physicians due to its flexible usage as compared to other available systems.
Based on therapeutic area, photopheresis products market is segmented into autoimmune diseases, graft versus host diseases, solid organ transplant rejections, and cutaneous T-Cell lymphoma. Among them, autoimmune diseases application recorded a maximum revenue share in 2017. This was due to growing hospital infrastructure and growing consumable disposable income. Large share of autoimmune diseases is due to unhealthy lifestyle, genetic predeposition, and growing population on large scale. Also graft versus host diseases is expected to witness the fastest growth rate in this segment.
North America dominated global photopheresis products market in 2017. Presence of large number of autoimmune disease patients, growing awareness among people, well and proper structured reimbursement scenario from government for various diseases such as CTL, lung transplantation, GVHD are factors which mainly drive the market in North America. Also growing counts of organ transplant cases and growing aging population along with growing consumable disposable income will further contribute for the growth of market in North America. Also high presence of prominent players in this region, continuous research and development activities, and technological advancements are factors which drive market in North America. Asia Pacific market which held only about 4% of the global market in 2015, accounted for about 6.6% CAGR in 2017. Various factors such as increased acceptance of advanced photopheresis device, advanced research, and faster regulatory approvals are some major drivers of photopheresis products in Asia pacific. Some of the key players in photopheresis products market include Med Tech Solutions GmbH, Fresenius Kabi AG, Mallinckrodt Pharmaceuticals, Macopharma, Terumo Corporation, Haemonetics Corporation, Terumo Corporation, and Mallinckrodt Pharmaceuticals, among others.
Global Photopheresis Products Market: Product Type Segment Analysis
Global Photopheresis Products Market: Therapeutic area Segment Analysis
Global Photopheresis Products Market: Regional Segment Analysis