Press release
Intravenous Immunoglobulin (IVIG) Market to hit $18,649 thousand by 2022, Top Companies: Biotest AG
Malaysia Intravenous Immunoglobulin (IVIG) Market
IVIG market in Malaysia accounted for $12,277 thousand in 2015, and is estimated to reach at $18,649 thousand by 2022, registering a CAGR of 6.1% from 2016 to 2022.
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COVID-19 scenario-
1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
The scope of applications of IVIG has widened, as it is used to treat various neurological, hematological, dermatological, and immune deficiency disorders, with the help of improved clinical practices and advanced technologies.
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The IVIG products gained significant attention in the recent years due to their high efficacy in the treatment of immune diseases. Prevalence of various antibody deficiency disorders such as common variable immune deficiency (CVID), specific antibody deficiency, and hypogammaglobulinemia, increase in IVIG indications, improved production & purification processes, growth in awareness towards antibody deficiency, and rare immune disorders among patient population drive the growth of the IVIG market.
However, high costs associated with the IVIG treatment; shortage of IVIG; and side effects of IVIG treatment such as headache, migraine, fever, nausea or vomiting, and cough hinder the market growth. IVIG products are widely used for the treatment of immunodeficiency disease, ITP, chronic lymphocytic leukemia (CLL), Kawasaki disease, and others. The untapped potential of Malaysia as an emerging market and development of cost-effective therapeutics through large-scale production act as opportunities to the market players in this region.
Hypogammaglobulinemia and CIDP held dominant market shares in 2015 due to the large patient population and unavailability of effective alternatives to IVIG treatment. Based on product type, the market is segmented into immunoglobulin G (IgG), IgA, IgM, IgE, and IgD. On the basis of concentration, it is categorized into 5%, 10%, and others. By mode of delivery, it is bifurcated into intravenous, subcutaneous, and intramuscular mode of delivery. The intravenous mode of delivery segment held the largest revenue in 2015 and is anticipated to continue this trend during the forecast period. High bioavailability of immunoglobulins and rapid absorption rate offered by intravenous mode of delivery are the factors that supplement the growth of the intravenous mode of delivery IVIG market.
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The Major key companies profiled Are:
Grifols S.A., Octapharma AG, Green Cross Corporation, Baxalta (Shire), Bio Products Laboratory Ltd., Biotest AG, CSL Behring, Omrix Biopharmaceuticals Ltd., Bayer Healthcare, and Baxter International Inc.
Similar Reports:
U.S. IVD Market : https://www.pharmiweb.com/press-release/2020-09-16/us-ivd-market-to-see-record-break-revenue-20-707-million-by-2023
Cell-based Assay Market : https://www.pharmiweb.com/press-release/2020-09-16/cell-based-assay-market-to-grow-10-618-million-by-2023-at-cagr-of-165-amr
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