Photopheresis Products Market Size

Photopheresis Products Market Analysis

The photopheresis products market studied was anticipated to register a CAGR of 5.3% during the forecast period.

• COVID-19 significantly impacted the market studied due to the stringent lockdown restriction and half of all the non-elective procedures during the early pandemic. For instance, according to the study published in Transplantation and Cellular Therapy in January 2021, oncologic and hematopoietic stem cell transplantation utilization and delivery were drastically impacted by the continuing global COVID-19 pandemic, including delays in cancer diagnosis and therapy. 
• Furthermore, according to the European Journal of Cancer study published in October 2021, Extracorporeal photopheresis (ECP) was considered high-risk therapy in cutaneous lymphomas during the COVID-19 pandemic because it required travel to the clinic or hospital. Such studies explain a slight decline in the photopheresis products market. However, in the post-pandemic period, the market has grown significantly after increased travel restrictions and the restart of organ transplantations and cancer treatment in hospitals. The market may reach the pre-pandemic levels by mid of 2023.
• The significant factor attributing to this market's growth is the demand for photopheresis products which is growing rapidly. Rising autoimmune disease prevalence and increasing numbers of cases of organ transplantation are the major factors boosting the global market for photopheresis products.
• According to the Global Observatory on Donation and Transplantation 2021, 144,302 organs were transplanted globally in 2021. This includes 92,532 kidneys, 34,694 livers, and 8,409 hearts. Furthermore, according to the United Network for Organ Sharing 2022 results, more than 25,000 kidney transplants were carried out in the United States, with an increase of 3.4% from 2021. This includes liver (9,528), heart (4,111), and lung (2,692) transplants. Such a huge number of organ transplants globally and in developed regions such as the United States is anticipated to increase the adoption of photopheresis products in organ transplantations, driving the market growth.
• Additional factors such as the rising healthcare infrastructure, technological advancement, and growing geriatric population will further drive the market for photopheresis products during the forecast period. The key market players' ongoing initiatives in photopheresis, such as the approvals and launch of innovative products, are anticipated to drive the market studied due to increased adoption. 
• For instance, in January 2021, Japan's Ministry of Health, Labour and Welfare (MHLW) approved the CELLEX extracorporeal photopheresis (ECP) system developed by Mallinckrodt Inc, a global biopharmaceutical company for the treatment of steroid-resistant or intolerant chronic graft versus host disease (cGvHD) in adults.
• Therefore, the factors such as rising organ transplantations, rising prevalence of autoimmune diseases, and rising initiatives from the key market players are anticipated to drive market growth. However, the low adoption of photopheresis in pediatric patients and a lack of skilled professionals are expected to hamper the market growth.