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Primary Immunodeficiency Diseases Market is expected to reach US$7.5 bn by the end of 2023

09-15-2017 01:54 PM CET | Health & Medicine

Press release from: TMR - Research Reports

Primary Immunodeficiency Diseases Market is expected to reach

As per Transparency Market Research, the global primary immunodeficiency market stood at US$4.3 bn in 2014. Rising at a CAGR of 6.1% between 2015 and 2023, the market is expected to reach US$7.5 bn by the end of 2023.

Prevalence of Unmet Medical Needs in Emerging Economies to Create Opportunities for Market’s Growth

However, a significant scope for expansion of PIDD diagnostic lies in emerging nations. These nations report a high prevalence of unmet medical needs, which has compelled their government to draft policies favoring the growth of the healthcare sector. Recent policies undertaken by governments across developing countries and the favorable health trends in Asia Pacific have created opportunities for the increasing adoption of PIDD therapies.

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Regionally, North America and Europe emerged dominant in the global PIDD market with a share of 79.4% in 2014. Among these nations North America held the largest share of over 56.2% in the market. The rising prevalence of PIDD boosts the demand for PIDD therapies and drugs in North America. The presence of leading companies in Europe, has proven beneficial for the region’s PIDD market.

By treatment, the demand for immunoglobulin replacement is expected to surge exponentially. TMR also forecasts the demand for stem cell and gene therapy for PIDD treatment to increase in the near future.

Demand for PIDD Therapies to Rise following Newer Government Approvals

The most prominent companies in the PIDD market are focusing on developing novel therapies that provide effective cure for primary immunodeficiency diseases. Such increasing research and development activities and the correspondingly rising approvals of these drugs are primary factors boosting sales from the PIDD market. “Government approvals fuel demand for drugs and treatment modalities for primary immunodeficiency diseases, thus boosting the market’s growth,” said a lead TMR analyst.

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“The gradually increasing incidence of primary immunodeficiency diseases is also expected to boost demand for PIDD drugs,” he added. With several government and private organizations actively engaging in creating awareness about PIDD by organizing various disease awareness programs, demand for PIDD therapies is likely to surge in both developed and developing regions. As per TMR the aforementioned factors will lead to a higher uptake of PIDD therapies globally.

Absence of Proper Reimbursement Policies Inhibits Widespread Uptake of PIDD Therapies

Despite the rising prevalence of primary immunodeficiency diseases, governments across several nations are yet to draft adequate reimbursement policies. Furthermore, in the absence of adequate provisions for the diagnosis of the ailment in newborns, a large number of cases go undetected in emerging countries. In developed countries however the inadequate reimbursement policies discourage the diagnosis of primary immunodeficiency diseases. These factors will restrict the proliferation of PIDD therapies worldwide.

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According to TMR, over 10 million people suffer from primary immunodeficiency diseases around the world. Out of them thousands of cases in adults and children alike go undiagnosed. This acts as a major restraint for the market. Delay in PIDD diagnosis could spur recurrent infections and eventually prove fatal. Early identification of the disease via newborn screening is thus considered indispensable.

With only a handful of companies enjoying the major share of the revenue pie, the global primary immunodeficiency diseases (PIDD) market exhibits a consolidated vendor landscape. As per Transparency Market Research (TMR), CSL Behring LLC and Grifols S.A. emerged dominant in the market with a share of 60.5% in 2014. Baxter International, Inc. and Octapharma AG are other prominent enterprises operating in the global PIDD market.

Global Primary Immunodeficiency Diseases Market Report is available @ US$ 5795

These companies have been primarily capitalizing on the increasing incidence of immunodeficiency diseases. The rising research and development investments by these companies help them in maintaining competitiveness in the global market. Besides these, favorable government policies and increased funding on pharmaceutical and biopharmaceutical research augur well for the key market players.

About Us:
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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