Global Immunoglobulin Market Expected to Reach $13,619 Million by 2023 - Allied Market Research
PORTLAND, Oregon and PUNE, India, October 31, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Immunoglobulin Market by Products Type, Application, Mode of Delivery, and Geography: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global immunoglobulin market accounted for $8,374 million in 2016, and is projected to reach $13,619 million by 2023, registering a CAGR of 7.3% from 2017 to 2023. North America is the highest contributor in the immunoglobulins market; however, LAMEA is anticipated to grow at the fastest rate.
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Immunoglobulin is a blood/plasma product, which is prepared from the serum of multiple of donors, used to treat patients with antibody deficiency. The isolated plasma product is clinically treated and purified to Ig, which further facilitates the treatment. Immunoglobulin is applicable in various fields such as hematology, immunology, neurology, dermatology, nephrology, ophthalmology, and rheumatology.
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Prevalence of various antibody deficiency disorders such as common variable immune deficiency (CVID), specific antibody deficiency, and hypogammaglobulinemia, increase in immunoglobulin indications, improved production & purification processes, growth in awareness towards antibody deficiency, and rare immune disorders among patient population drive the growth of the Immunoglobulin market. However, high costs associated with the immunoglobulin treatment; shortage of immunoglobulin; and side effects of immunoglobulin treatment such as headache, migraine, fever, nausea or vomiting, and cough hinder the market growth. Immunoglobulin products are widely used for the treatment of immunodeficiency disease, ITP, chronic lymphocytic leukemia (CLL), and others. Rise in geriatric population, increase in patient population of blood disorders, and high healthcare expenditure are anticipated to boost the market growth.
Among the application segment, hypogammaglobulinemia was the largest revenue contributor in 2016 towards market growth, and is anticipated to continue this trend in the future. Large patient population, lack of effective substitute treatment, and early adoption of immunoglobulin for the treatment of hypogammaglobulinemia are expected to boost the growth of this segment.
The intravenous mode of delivery segment held the largest share in the global immunoglobulin market. 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 immunoglobulin market.
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In 2016, North America accounted for maximum contribution to the total revenue generated, followed by Asia-Pacific. The major factors responsible for the growth of immunoglobulin market in these regions are the high adoption rate in developed and populous countries such as Japan and U.S. and the presence of large plasma production facilities.
KEY FINDINGS OF IMMUNOGLOBULIN MARKET STUDY
- Myasthenia Gravis segment is projected to grow at the fastest rate during the analysis period.
- Hypogammaglobulinemia was the highest revenue-generating segment, and is expected to continue its dominance in future.
- North America dominated global immunoglobulins market, and is projected to grow at a CAGR of 7.0% in terms of value.
- Saudi Arabia is expected to grow at the fastest rate in the LAMEA region, registering a CAGR of 11.8%. in terms of value.
- LAMEA segment was the fastest growing segment growing at a CAGR of 10.6% in terms of volume.
The key companies profiled in the report include Baxter international Inc., CSL Ltd, Grifols S.A, Octapharma AG, Kedrion Biopharma Inc., LFB group, Biotest AG, China Biologics Products Inc., BDI Pharma Inc., and Bayer Healthcare.
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