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 study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Photopheresis Products market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Photopheresis Products market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Photopheresis Products market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Photopheresis Products market?
• Which is the largest regional market for Photopheresis Products market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Photopheresis Products market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Photopheresis Products market worldwide?