Outlook on the Photopheresis Products Global Market to 2029 - by Type, Application, End-user and Region
DUBLIN, Aug. 11, 2021 /PRNewswire/ -- The "Photopheresis Products Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The photopheresis products market is expected to grow at a compound annual growth rate of 6% during the forecast period. The market for photopheresis products is projected to expand as the incidence of autoimmune disorders and the number of organ transplants rise. Photopheresis is a medical treatment that separates white blood cells using a device. Before the patient receives the blood, such white cells are subjected to an 8-methoxy psoralen therapy, followed by UVA irradiation. These white cells are the root cause of sickness. The US Food and Drug Administration has approved photopheresis, commonly known as extracorporeal photopheresis (ECP), for the treatment of cutaneous T-cell lymphoma. ECP is also used to treat graft versus host disease (GVHD), atopic dermatitis, scleroderma, lichen planus, lupus erythematosus, Crohn's disease, and type 1 diabetes. This report covers all the quantitative aspects of the Photopheresis Products Marketand also talks about its key drivers, the challenges it faces, the growth opportunities present in the market, and its future prospects.
Rising Incidence of Autoimmune Diseases to Accelerate Market Growth
According to scientists at the National Institute of Environmental Health Sciences (NIEHS), autoimmune diseases appear to be on the rise in the United States. Furthermore, according to a new study published in Arthritis & Rheumatology 2020, autoimmunity and certain autoimmune disorders are becoming more common in the United States. A rise in the number of organ transplant patients is predicted to increase the demand for photopheresis products. Increased government incentive schemes are also predicted to increase the photopheresis products market. However, on other hand, due to the high cost of ECP therapy, the global market for photopheresis products may experience a slowdown. Patients may be hesitant to choose ECP treatment since it is more time-consuming than other therapies and requires regular therapy sessions over a year. Another significant challenge is the low penetration of ECP therapy clinics. Nevertheless, as more organizations train and educate healthcare professionals about ECP therapy, the market will grow.
Closed ECP System Dominate the Market
The market has been segmented based on type, application, end-user, and region. Based on the type segment, the photopheresis products market is divided into open and closed ECP systems. The closed systems segment retains a dominant share due to factors such as rising autoimmune illnesses and increased research and development activity to create treatments. Autoimmunity is defined as the breakdown of natural immunological homeostasis caused by the organism's abnormal response to its tissue. Based on application, the market is divided into autoimmune diseases, transplant rejections, cutaneous t-cell lymphoma, and graft versus host disease. The autoimmune disease segment is estimated to dominate the market during the forecast period. This was attributable to expanding hospital infrastructure and rising disposable consumer income. A huge proportion of autoimmune disorders are caused by an unhealthy lifestyle, genetic predisposition, and a rapidly rising population. Graft versus host diseases is also projected to rise at a significant rate.
North America to Lead Global Market
The photopheresis products market is divided into North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa, and the rest of the world based on the regional segmentation. North America dominated the global market. The expansion in this region can be ascribed to favorable government regulations for various diseases such as Cytotoxic T-cell lymphoma (CTL), graft-versus-host disease (GVHD), and lung transplants, all of which are treated using extracorporeal photopheresis (ECP) therapy. According to the American Autoimmune Related Diseases Association (AARDA), autoimmunity is one of the top ten major causes of death in female children and women of all ages up to 64. Furthermore, the availability of blood processing centers and modern apheresis are two of the most important factors maintaining the region's dominance. The Asia Pacific and Europe regions are expected to grow at a significant rate during the forecast period.
Key Players
Fresenius Kabi AG, Haemonetics Corporation, Macopharma, Mallinckrodt Pharmaceuticals, Terumo Corporation, Med Tech Solutions GmbH, and PIT Medical Systems are major players in the photopheresis products market. To remain competitive in the global photopheresis products market, players have employed a variety of marketing strategies, including new product launches, expansion, joint ventures, and acquisitions. The report provides a comprehensive examination of leading firms as well as a discussion of market competitiveness. Product launch is a major strategy for major players in the photopheresis products market.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2029.
Report Scope by Segments
Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for the extrapolation of market revenues. The derived market estimates were further validated from top-down, bottom strategies and primary research.
Key Topics Covered:
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Photopheresis Products Market: Market Dynamics and Future Outlook
3.1. Market Overview
3.2. Current Scenario: New Product Launches, Increase in Animal-Free Testing
3.3. Drivers
3.4. Challenges
3.5. Opportunities
3.6. Attractive Investment Proposition, by Geography, 2020
3.7. Competitive Landscape (Key Players)
3.7.1. Mergers and Acquisition Analysis
3.7.2. Agreements, Collaborations, and Partnership
3.7.3. New Product Launches
Chapter 4. Photopheresis Products Market, by type, 2019 - 2029 (US$ Mn)
4.1. Overview
4.2. Open ECP System
4.3.Closed ECP System
Chapter 5. Photopheresis Products Market, By Application, 2019 - 2029 (US$ Mn)
5.1. Overview
5.2. Autoimmune Diseases
5.3. Transplant Rejections
5.4. Cutaneous T-Cell Lymphoma
5.5. Graft versus Host Disease
Chapter 6. Photopheresis Products Market, By End-User, 2019 - 2029 (US$ Mn)
6.1. Overview
6.2. Hospitals
6.3. Clinics
Chapter 7. Photopheresis Products Market, By Regional Market Analysis, 2019 - 2029 (US$ Mn)
7.1. Definition & Scope
7.2. Regional Market Share Analysis, 2019 & 2029
7.3. Regional Market Dashboard
7.4. Regional Market Snapshot
7.5. Regional Market Share Analysis 2019 to 2029
7.5.1. North America
7.5.2. Europe
7.5.3. Asia Pacific
7.5.4. Latin America
7.5.5. Middle East and Africa
7.6. SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
7.6.1. North America
7.6.2. Europe
7.6.3. Asia Pacific
7.6.4. Latin America
7.6.5. Middle East and Africa
7.7. Market Size, & Forecasts, Revenue and Trend Analysis, 2019 to 2029
Chapter 8. North America Photopheresis Products Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 9. Latin America Photopheresis Products Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 10. Europe Photopheresis Products Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 11. Asia Pacific Photopheresis Products Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 12. Middle East & Africa (MEA) Photopheresis Products Market, Regional Market Analysis, 2019 - 2029 (US$ Mn)
Chapter 13. Company Profiles
13.1. Fresenius Kabi AG
13.1.1. Business Overview
13.1.2. Financial Information (Subject to data availability)
13.1.3. Application Portfolio
13.1.4. Key Developments
13.2. Haemonetics Corporation
13.3. Macopharma
13.4. Mallinckrodt Pharmaceuticals
13.5. Terumo Corporation
13.6. Med Tech Solutions GmbH
13.7. PIT Medical Systems
For more information about this report visit https://www.researchandmarkets.com/r/6grb5y
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