Global Intravenous Immunoglobulin (IVIG) Market Analysis and Forecast Predictions
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Since the first formulation of intravenous immunoglobulin (IVIG) that gained FDA approval back in 1980s, the concept has been harnessed relentlessly in the last three decades and adverse effects have been neutralized to a large extent. In the recent past, IVIG have proven their worth in treating autoimmune diseases such as primary humoral immunodeficiency (PIDD), multiple sclerosis, immune thrombocytopenia purpura (ITP), autoimmune haemolytic anemia, and Kawasaki syndrome. Going forward, intravenous immunoglobulin are expected to remain a viable alternative to other medications such as corticosteroids and immunosuppressants.
According to the findings of this business intelligence report that has evaluated and estimated the commerce of the global IVIG market – the demand will expand at a formidable CAGR of 8.52% during the forecast period of 2017 to 2024. The analyst of the report has projected that the intravenous immunoglobulin market will have opportunities worth US$14,923.2 million by 2024 across the globe, which is substantially higher than the market’s calculated valuation of US$8,419.7 million as of 2017.
Apart from the prevalence of autoimmune disorders, the intravenous immunoglobulin market is foreseen to gain traction from factors such as increase in geriatric population, growing usage of off-label indications, advancements in the production technologies and purification methods, favorable government initiatives, and improvements in healthcare infrastructure across emerging economies. On the other hand, the report highlights high cost of treatment, long-term side-effects, stringent regulatory framework, and emergence of alternative therapies such as subcutaneous infusion IG (SCIG) and recombinant products are a few restraints obstructing the IVIG market from attaining its true potential.
CIDP to Remain Key Indication Segment Until 2024
On the basis of indication, this report segments the IVIG market into chronic inflammatory demyelinating polyneuropathy (CIDP), idiopathic thrombocytopenic purpura (ITP), primary humoral immunodeficiency, myasthenia gravis, hypogammaglobulinemia, guillain-barre syndrome, Kawasaki disease, multifocal motor neuropathy (MMN), and chronic lymphocytic leukemia. Among these, CIDP and primary humoral immunodeficiency are the two segments that constituted for more than half of the total demand in this market. While the former segment is gaining traction from the rising prevalence of the diseases, the latter segment is driven by it being an on-label indication for IVIG. By 2024, the two segments are estimated to generate a revenue of US$4,989.4 million and US$4,145.4 million respectively.
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The report also bifurcates the intravenous immunoglobulin market based on end users, into hospitals, clinics, and home care settings. Hospitals are expected to continue providing for the most prominent chunk of demand over the course of 2017 to 2024, although the other two are primed for stronger growth rates.
Asia Pacific Emerging As a Region of Substantial Potential
Geographically, the analyst of the report has evaluated the potential of demand for IVIG that can be expected out of the regions of Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. In 2017, the North America intravenous immunoglobulin market posed a valuation of US$3,814.8 million and is estimated to generate more than 43.3% of the total demand. Wide range of products available, advancements in technology, and increasing number of patients with blood and neurological disorders are the major drivers of the North America IVIG market. Although Europe is expected to hold onto its position as the second most profitable region in terms of demand, Asia Pacific is a region wherein the demand is poised to expand at most robust CAGR of 9.5% during 2017 to 2024. By the end of 2024, the Asia Pacific IVIG market is estimated to be worth US$2,826.1 million.
The analyst of the report has identified CSL Behring LLC, Grifols S.A., Octapharma AG, and Baxalta Incorporated as the prominent companies currently ahead of the curve in the global IVIG market. The report contains a featured section on the competitive landscape, profiling most of the leading players as well as a number of other promising participants.
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