PORTLAND, Oregon, January 14, 2019 /PRNewswire/ --
Surge in geriatric population, rise in the numberof hemophilic patients worldwide along with increase in prevalence of chronic diseases such as chronic inflammatory demyelinating polyneuropathy (CIDP) and hypogammaglobulinemia would drive the growth of the global intravenous immunoglobulin (IVIG) market.
Allied Market Research published a report, titled, "Intravenous Immunoglobulin (IVIG) Market by Application (Hypogammaglobulinemia, Chronic Inflammatory Demyelinating Polyneuropathy, Immunodeficiency Disease, Myasthenia Gravis, Multifocal Motor Neuropathy, Idiopathic Thrombocytopenic Purpura, Inflammatory Myopathies, Specific Antibody Deficiency, Guillain - Barre Syndrome, and Others) and Type (IgG, IgA, IgM, IgE, and IgD: Global Opportunity Analysis and Industry Forecast, 2016 - 2022". The report provides comprehensive analysis of the key market segments, industry trends, market size and estimation, top investment pockets, and competitive landscape. According to the report, the global intravenous immunoglobulin (IVIG) market was valued at $8,932 million in 2017 and is projected to reach $12,632.5 million by 2022, registering a CAGR of 7.1% during the forecast period.
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The global IVIG market is driven by factors such as high prevalence of diseases such as chronic inflammatory demyelinating polyneuropathy (CIDP) and hypogammaglobulinemia coupled with surge in geriatric population and rise in the number of hemophilic patients. In addition, increase in production of immunoglobulin with better plasma quality using advanced purification techniques is expected to supplement the market growth. On the other hand, technological advancements in IVIG products are anticipated to provide lucrative opportunities in the market in near future. However, stringent government regulations towards IVIG products and side effects associated with the use of IVIG impede the growth of the market.
Myasthenia gravis segment to grow the fastest through 2022
Among applications, the myasthenia gravis segment is projected to grow at the fastest CAGR of 10.1% from 2018 to 2022, owing to significant rise in the incidence of this disease. At present, there are nearly 60,000 cases of this disease in the U.S. The prevalence of the disease is expected to grow in future, which needs treatment using IVIG. The hypogammaglobulinemia segment occupied more than one-fifth share of the global market in 2017 and is expected to continue its dominance throughout the forecast period of 2018-2022. The report also analyses segments such as chronic inflammatory demyelinating polyneuropathy, immunodeficiency disease, multifocal motor neuropathy, idiopathic thrombocytopenic purpura, inflammatory myopathies, specific antibody deficiency, Guillain-Barre syndrome, and others.
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North America to continue its dominance throughout 2022
North America occupied nearly half of the global market revenue in 2017 and is expected to retain its dominance from 2018 to 2022, owing to the high adoption rate of IVIG treatments across countries in the region supplemented with the presence of high-profile plasma production facilities. Meanwhile, LAMEA is expected to grow at the highest CAGR of 10% during the forecast period, as the region has witnessed a significant increase in the incidence of immunological & neurological diseases. The other regions analyzed in the report include Europe and Asia-Pacific.
Key market players
The key players analyzed 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., Shire (Baxalta), and Bayer AG. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.
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SOURCE Allied Market Research