Photopheresis Products Market will explore robust size & growth during 2016-2024

The global market for photopheresis products features an exceedingly consolidated competitive landscape, with the top three players accounting for over 95% of the market in 2015, observes Transparency Market Research in a recent report. These three companies, namely Mallinckrodt, Macopharma, and Med Tech solutions GmbH, stay competitive by investing in the development of new kits/devices capable of overcoming issues in existing products. Development of smaller, lighter, and faster devices tops the list of priority of these companies.

Companies are also attempting to educate and train healthcare practitioners and the masses with the view of spreading awareness about ECP therapy and its benefits. A recent instance of this is Mallinckrodt’s Therakos Institute. The company is educating patients, nurses, and technicians through clinical education and training related to the photopheresis operating modules and their benefits.

This 133 page report gives readers a comprehensive overview of the photopheresis products market. Browse through 24 data tables and 78 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/photopheresis-products-market.html

North America to Continue to Gain Massive Portion of the Pie

Transparency Market Research (TMR) states that the market will exhibit a 5.9% CAGR from 2016 through 2024. As a result, the market will rise to US$371.1 mn by 2024 from US$223.1 mn in 2015. In terms of product type, the segment of closed system photopheresis products accounted for over 80% of the overall market in 2015 and is expected to remain the dominant segment over the forecast period as well. North America, with over 52% of the global photopheresis products market in 2015, will continue to command a prominent position in the global market over the forecast period as well.

Government Reimbursements to Act as Strong Driving Force

Safer and effective treatment by using photopheresis technique is expected to be one of the potential drivers of the photopheresis products market during the forecast period. Most of the methods currently used for treating conditions such as graft-versus-host and cutaneous T-cell lymphoma lead to certain side effects. The promise of better safety and efficacy of the extracorporeal photopheresis (ECP) therapy has led to the rising preference of healthcare practitioners to this technique over other drug treatments.

Government bodies are also increasingly encouraging patients to undergo ECP therapy to treat a variety of diseases in the form of reimbursements for the therapy. The favorable reimbursement policies and the resultant coverage of medical expenses under government-supported refunds is encouraging patients to undergo ECP therapy to treat various disease conditions.

Furthermore, there has been a significant rise in the global population with cutaneous T-cell lymphoma (CTL), a rare type of non-Hodgkin lymphoma that affects the skin. According to the Cutaneous Lymphoma Foundation, the rate of incidence of CTL is nearly 1500 new cases per year in the U.S. and prevalence of continues to rise in the country as well as across the globe. Although several types of therapies are used to treat CTL, ECP is being increasingly considered the first line of therapy for treating CTL.

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High Costs and Lengthy Treatments to Limit Adoption

Despite being reimbursed by the government in several regions across the globe, the cost of ECP therapy is significantly high. Moreover, the therapy takes longer time to perform and treat than many other popular treatments. It is estimated that on an average, the ECP therapy requires nearly two to three hours at a stretch for the treatment to complete for various disease. Also, the patient is required to undergo the treatment once every two weeks for a year. The cost of per treatment is around US$8000 per treatment.

On a whole, the time and money invested to complete the treatment is immense. This factor may make the treatment less attractive for many patients and may compel healthcare practitioners to switch to other low-cost and less time consuming treatments, restraining the overall growth prospects of the global photopheresis products market. The lack of enough ECP therapy centers across many developed and developing countries is also a key challenge for the market.

This review of the market is based on a recent market research report published by Transparency Market Research, titled “Photopheresis Products Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

Photopheresis Products Market is expected to rise to US$ 371.1 mn by 2024

As autoimmune disease become increasingly prevalent across the world, researchers are keeping no stone unturned to find the most effective cure. Photopheresis has emerged as one of the most promising treatment options for autoimmune diseases, solid organ transplant rejection, chronic graft versus host diseases, and advanced cutaneous T-cell lymphoma. The treatment was first approved by the FDA in 1988 and is largely considered is the first line of therapy administered in case of aforementioned conditions. Photopheresis offers a range of benefits such as better efficacy and lesser side effects compared to other drug treatments. While this will create lucrative prospects, the market is also expected to gain from the increasing demand for blood derived products.

According to Transparency Market Research (TMR), the global photopheresis product market is expected to report a CAGR of 5.9% between 2016 and 2024. At this pace, the market will reach US$371.1 mn by the end of 2024, from a valuation of US$223.1 mn in 2015.

Read Full Report: http://www.transparencymarketresearch.com/photopheresis-products-market.html

Q: How the future of the global photopheresis products market looks like?

A: Government bodies across the world are encouraging patients to undergo external counter pulsation (ECP) therapy, in the form of favorable reimbursements, for the treatment of various diseases. These policies and the consequent coverage of medical expenses covered under government-supported refunds are encouraging patients towards choosing the therapy for the treatment of various ailments.

Furthermore, globally the incidence of cutaneous T-cell lymphoma (CTL), which is a rare non-Hodgkin lymphoma affecting skin, is increasing. As per the Cutaneous Lymphoma Foundation, every nearly 1500 new cases of (CTL) is reported in the U.S. As the incidence continues to increase, experts are recommending ECP as the first line of therapy despite the availability of various therapies for the treatment of CTL. These factors are indicative of a promising future of the global photopheresis products market.

Q: Which regions will show most lucrative opportunities for the market?

Regionally, North America dominates the global photopheresis products market. It held over half of the global market in 2015 and is projected to retain its dominance through the course of the next few years. Favorable reimbursement policies for various disease indications such as CTL and lung transplantation by ECP have been providing significant impetus to the market in North America. For instance, in 2012, Medicare extended their reimbursement coverage for ECP for the treatment of bronchiolitis obliterans syndrome (BOS). Furthermore, various such policies are underway, which are expected to provide boost to the photopheresis products market in North America.

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On the down side, inadequate availability of treatment centers for ECP therapy is likely to slow the pace of gains for the market. Nevertheless, the region boasts comparatively more number of positive factors indicative of a promising future for the market. As per TMR, the North America photopheresis market is expected to show a 5.8% CAGR between 2016 and 2024.

Meanwhile, the Asia Pacific market which held only 4% of the global photopheresis products market in 2015, is poised to exhibit the leading CAGR of 6.6% during the same forecast period. The visibly increasing investment in the healthcare sectors across the region’s most promising economies has resulted in the rise in number of photopheresis centers in the region. Faster regulatory approvals and emergence of corporate entity in the ECP sector is promoting the growth of the region’s photopheresis products market.

Photopheresis Products Market Trends and Forecast 2016 – 2024

As autoimmune disease become increasingly prevalent across the world, researchers are keeping no stone unturned to find the most effective cure. Photopheresis has emerged as one of the most promising treatment options for autoimmune diseases, solid organ transplant rejection, chronic graft versus host diseases, and advanced cutaneous T-cell lymphoma. The treatment was first approved by the FDA in 1988 and is largely considered is the first line of therapy administered in case of aforementioned conditions. Photopheresis offers a range of benefits such as better efficacy and lesser side effects compared to other drug treatments. While this will create lucrative prospects, the market is also expected to gain from the increasing demand for blood derived products.

According to Transparency Market Research (TMR), the global photopheresis product market is expected to report a CAGR of 5.9% between 2016 and 2024. At this pace, the market will reach US$371.1 mn by the end of 2024, from a valuation of US$223.1 mn in 2015.

Read Full Report: http://www.transparencymarketresearch.com/photopheresis-products-market.html

Q: How the future of the global photopheresis products market looks like?

A: Government bodies across the world are encouraging patients to undergo external counter pulsation (ECP) therapy, in the form of favorable reimbursements, for the treatment of various diseases. These policies and the consequent coverage of medical expenses covered under government-supported refunds are encouraging patients towards choosing the therapy for the treatment of various ailments.

Furthermore, globally the incidence of cutaneous T-cell lymphoma (CTL), which is a rare non-Hodgkin lymphoma affecting skin, is increasing. As per the Cutaneous Lymphoma Foundation, every nearly 1500 new cases of (CTL) is reported in the U.S. As the incidence continues to increase, experts are recommending ECP as the first line of therapy despite the availability of various therapies for the treatment of CTL. These factors are indicative of a promising future of the global photopheresis products market.

Q: Which regions will show most lucrative opportunities for the market?

Regionally, North America dominates the global photopheresis products market. It held over half of the global market in 2015 and is projected to retain its dominance through the course of the next few years. Favorable reimbursement policies for various disease indications such as CTL and lung transplantation by ECP have been providing significant impetus to the market in North America. For instance, in 2012, Medicare extended their reimbursement coverage for ECP for the treatment of bronchiolitis obliterans syndrome (BOS). Furthermore, various such policies are underway, which are expected to provide boost to the photopheresis products market in North America.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=14771

On the down side, inadequate availability of treatment centers for ECP therapy is likely to slow the pace of gains for the market. Nevertheless, the region boasts comparatively more number of positive factors indicative of a promising future for the market. As per TMR, the North America photopheresis market is expected to show a 5.8% CAGR between 2016 and 2024.

Meanwhile, the Asia Pacific market which held only 4% of the global photopheresis products market in 2015, is poised to exhibit the leading CAGR of 6.6% during the same forecast period. The visibly increasing investment in the healthcare sectors across the region’s most promising economies has resulted in the rise in number of photopheresis centers in the region. Faster regulatory approvals and emergence of corporate entity in the ECP sector is promoting the growth of the region’s photopheresis products market.

Photopheresis Products Market Trends and Forecast 2016 – 2024

Photopheresis is a type of apheresis, which is a popular therapeutic option used in treatment of various autoimmune diseases, solid organ transplant rejections such as kidney and liver, acute and chronic graft versus host disease (GVHD), and advanced cutaneous T-cell lymphoma. Extracorporeal photopheresis (ECP) was first approved by the US FDA in 1988, as a leukapheresis-based therapeutic procedure.

Today, ECP is also known as extracorporeal photoimmunotherapy, and is available at several specialized centers worldwide. With growing need for blood products in transfusion processes, the market of apheresis is gaining traction. Following plasmapheresis, which is the currently the largest apheresis segment, photopheresis is a significant market as well. Among all other segments of this industry, photopheresis represents the fastest growing market since the past few years. Rising blood disorders affecting global population is primarily driving the market. As photopheresis products are recognized for their established efficiency in the treatment of CTCL, the market for ECP will witness steady growth in the near future.

In photopheresis, WBCs are collected after exposure to photosensitizer, UVA radiation, and 8-MOP. The mechanism is based on the principle of activation of 8-MOP by UVA, which ultimately causes DNA cross linkage. Performed via IV, the process of ECP commences in three key stages, including leukapheresis, photoactivation, and reinfusion. The third step involves the infusion of treated cell product back to the patient. As far as devices or equipment for photopheresis are concerned, several open and closed systems are available in the market. However, the US FDA has approved only closed systems, which allow the integration of drug photoactivation and reinfusion. As a result, closed systems assure lesser risk of contamination, infection, and flaws during reinfusion.

While advanced cutaneous T-cell lymphoma (TTCL) treatment predominantly involves use of photopheresis products, ECP also finds application in various other diseases, including atopic dermatitis, scleroderma, diabetes mellitus type I, bullosa acquisita, lupus erythematosus, and Crohn disease. Research has reaffirmed the efficacy of EPC in treatment of aforementioned disorders. In addition, photopheresis products have also been found to be applicable in some other diseases as well, including multiple sclerosis, rheumatoid arthritis, psoriasis, and nephrogenic systemic fibrosis.

ECP is being used in treatment of various dermatogenic disorders, including scleroderma, scleromyxedema, oral lichen planus, and recalcitrant pemphigus vulgaris and foliaceous. Studies also provide evidences for the application of adjunctive photopheresis in face transplantation and prophylaxis against heart transplant rejection. Moreover, ECP has been found effective against refractory chronic lung transplant rejection and persistent acute lung transplant rejection.

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Recently, a key specialty pharmaceutical player in Switzerland, Mallinckrodt plc announced Switzerland's Federal Department of Home Affairs - FDHA’s approval for the reimbursement of ECP treatment for Switzerland-based patients, who are suffering from bronchiolitis obliterans syndrome (BOS), following lung transplantation. This approval highlights the potential application of ECP as a restoring therapy for BOS patients in Switzerland.

Increasing applications of photopheresis in the medical world are bolstering the market in developed regions. However, developing economies are still in a nascent stage of mass adoption of photopheresis in treatment of diseases. Therakos, Inc. is one of the top players in market. Mac Molds is a leading manufacturer of photopheresis systems.

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