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Photopheresis Products Market Size to Grow with a CAGR of 5.6% During the Forecast Period 2021-2026

(Publishing-NewsWire.com, November 24, 2021 ) The Photopheresis Products Market size in 2020 is estimated at $302.4 million and is projected to grow with a CAGR of 5.6% during the forecast period 2021-2026. Photopheresis, also known as Extracorporeal Photopheresis (ECP), involves the extraction of a certain amount of blood from the patient, and the white blood cells separated from this blood are then treated with a photoactive drug. These cells are then activated with UVA irradiation (Ultraviolet A) and the blood is finally returned to the patient. This treatment is done on patients with Cutaneous T-cell Lymphoma (CTCL), Graft versus Host Disease (GVHD), and few other conditions. The rising prevalence of autoimmune diseases and cutaneous T-cell lymphoma is contributing to the growth of this market. Other factors such as the development of health care infrastructure and technological advancement, further drive the Photopheresis Products Market during the period 2021-2026.



Photopheresis Products Market Segment Analysis - By Type



The Photopheresis Products Market is segmented into Open System and Closed System based on type. The Closed system segment is estimated to dominate the market during the period 2021-2026 and is projected to growth at a CAGR of 5.0%. Open systems use separate compartments for cell separation and UVA irradiation. The risk associated with contamination is high in this case limiting their use. This contributes to the dominance of Closed Systems over Open System type.



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Photopheresis Products Market Segment Analysis - By Application



Based on the application, Photopheresis Products Market is segmented into Graft versus Host Disease, Cutaneous T-Cell Lymphoma, Transplant Rejections, and Autoimmune Diseases. Among these the Graft versus Host Disease is estimated to account for a major share in the market. This is owing to the high incidence of the condition especially among patients receiving hematopoietic stem cell transplant. According to the National Center for Biotechnology Information study in 2020, the incidence of chronic GVHD ranges from 6% to 80%. Also, the autoimmune disease segment is projected to grow the fastest with a CAGR of 5.1% during 2021-2026. This is owing to its rising prevalence of autoimmune disease globally. The prevalence is increasing owing to decline in immunity owing to lifestyle related problems and stress, diet, lack of exercise, insufficient sleep and similar other issues.



Photopheresis Products Market Segment Analysis - By Geography



In 2020, North America accounts for 43% of the Photopheresis products market share. This is owing to the favorable reimbursement policies for treatment of GVHD, cytotoxic T-lymphocytes and lung transplantation. According to reports in Almirall S A, about 16,000-20,000 Americans have cutaneous t-cell lymphoma. Also the prevalence of autoimmune diseases are high in North America. These factors contribute to the dominance of this region in Photopheresis Products Market, as they are commonly used for such diseases.



Also, Asia-Pacific is projected to be the fastest-growing over the period 2021-2026. This is owing to expansion of global players into these regions. Also the market here is becoming more favorable for growth owing to developing healthcare infrastructure and rising disposable income of people. Growing technology advancement in medical devices has further contributed to the growth.



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Photopheresis Products Market Drivers



Increase in Cutaneous T-cell Lymphoma Incidence



Increasing incidence of cutaneous t-cell lymphoma is driving the growth of Photopheresis Products Market. According to the study reported in NCBI, the incidence of cutaneous T-cell lymphoma has been reported to be up to 0.7 per 100,000 per year, by the British Association of Dermatologists. The incidence rate has increased in recent years, owing to improving levels of diagnosis.



Increasing Technological Advancement



Increase in research and development of advanced technology for Photopheresis is also driving the market. For instance, Mallinckrodt Pharmaceuticals and Transimmune AG entered a joint commercial collaboration arrangement related to development of next-generation Photopheresis technology. Also, closed systems are much more technologically advanced systems compared to open systems. The rising adoption of closed systems is also contributing to the market growth.



Photopheresis Products Market - Challenges



The high cost of treatment involved is challenging the market. Also, this procedure has to be done once every two weeks for a year. Extracorporeal Photopheresis is an expensive procedure and not all insurance companies cover it. Thus, the time and cost of this treatment are challenging the growth of this market.



Covid-19 Impact



Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. Medical device manufacturers had to face this pandemicís impact, as they also require clinical trials before market approval. The decisions about products, supply chains, and regulations have been affected.



Photopheresis Products Industry Outlook



Product launches, Merger & Acquisitions, Collaborations, Joint ventures and R&D activities are the key strategies adopted by players in the Photopheresis Products Market. Photopheresis Products top 10 companies are Haemonetics Corporation, Macopharma, Terumo Corporation, Dover Medical, Med Tech Solutions GmbH, Fresenius Kabi AG, Mallinckrodt Pharmaceuticals, Asahi Spectra Inc., Hamamtsu Photonics K. K., and PIT Medical Systems.



Developments:



January 2021: Japan's Ministry of Health, Labour and Welfare (MHLW) approved Mallinckrodt Pharmaceuticals product, CELLEX extracorporeal Photopheresis system. This approval was for the treatment of chronic graft versus host disease in adults.



February 2019: Mallinckrodt Pharmaceuticals entered a research collaboration agreement with Transimmune AG. The companies aim to use the next-generation Mallinckrodt Photopheresis system for expanding their technology in areas of mutual interest.



Key Takeaways



In 2020, North America dominates the Photopheresis Products Market owing to the high incidence of autoimmune diseases and a well-established healthcare infrastructure.



By Type, Closed System is estimated to account for the major share in the Photopheresis Products Market.



Rise in prevalence of autoimmune diseases and organ transplant cases driving the growth of Photopheresis Products Market.



Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Photopheresis Products Market report.



Related Reports



A.HLA Typing for Transplant Market

https://www.industryarc.com/Report/16814/hla-typing-for-transplant-market.html



B.T-cell Lymphoma Market

https://www.industryarc.com/Research/T-cell-Lymphoma-Market-Research-509925



For more Lifesciences and Healthcare Market reports, please click here



About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

IndustryARC

Venkat Reddy

(+1) 970-236-3677

venkat@industryarc.com

Source: EmailWire.Com

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