Intravenous Immunoglobulin Market
Number of pages: 100 | Report Format: PDF | Published date: January 31, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 11 billion |
|
Revenue Forecast in 2030 |
US$ 20.56 billion |
|
CAGR |
7.2% |
|
Base Year For Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Application, Form, End-user, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global intravenous immunoglobulin market was valued at US$ 11 billion in 2021 and is expected to register a revenue CAGR of 7.2% to reach US$ 20.56 billion by 2030.
Intravenous Immunoglobulin Market Fundamentals
Intravenous immunoglobulin (IVIG) is a pool of immunoglobulins, primarily used as therapy for individuals with antibody deficiencies. It is prepared using a collection of immunoglobulins (antibodies) from the plasma of healthy donors. In healthy individuals, immune systems develop immunoglobulins to defend against infections. Even though plasma, a blood component, is used to develop IVIG, there is little possibility of contracting a blood-borne infection. The U.S. Food and Drug Administration (FDA) has authorized the administration of IVIG for the treatment of immune thrombocytopenic purpura (ITP), primary immunodeficiency, secondary immunodeficiency, pediatric HIV infection, Kawasaki disease, preventing graft versus host disease (GVHD), and infection in bone marrow transplant recipients.
Contrary to various rheumatology-recommended drugs, IVIG does not raise the risk of infection. IVIG functions in various ways to stop the body from attacking itself and lessen inflammatory responses. It is regarded as safe to use for nursing and pregnant women. IVIG is administered for some rheumatologic conditions, including pediatric Kawasaki's illness. Inflammatory muscle illnesses, such as juvenile dermatomyositis, polymyositis, and dermatomyositis, can also be treated with IVIG. It can be used to treat systemic lupus erythematosus patients with extremely low platelet counts (idiopathic thrombocytopenic purpura).
Significant research has been undertaken into the mechanism of IVIG in treating autoimmune and inflammatory diseases. Understanding the major IVIG mechanisms has allowed for the coherent development of IVIG mimetics and alternatives for several IVIg-treatable conditions.
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Intravenous Immunoglobulin Market Dynamics
The global intravenous immunoglobulin market is expanding due to a considerable increase in the elderly population and hemophiliac patients. Other growth attributes are the rise in the development of innovative technologies for producing immunoglobulin and improved purifying methods (with better plasma yield). Additionally, an increase in the prevalence of disorders, including hypogammaglobulinemia and chronic inflammatory demyelinating polyneuropathy (CIDP), is anticipated to help in the market revenue growth. The widespread usage of IVIGs in the treatment of numerous diseases is likely to open profitable business opportunities in the global market.
However, the usage of IVIG products is subject to stringent government regulations, and there is a significant possibility of side effects on the usage of these products. Moreover, the high cost of IVIG therapy is likely to prevent its widespread usage, limiting market revenue growth during the forecast period.
Intravenous Immunoglobulin Market Ecosystem
The global intravenous immunoglobulin market has been analyzed from four perspectives: application, form, end-user, and region.
Intravenous Immunoglobulin Market by Application
Based on applications, the global intravenous immunoglobulin market has been segmented into hypogammaglobulinemia, myasthenia gravis, immunodeficiency diseases, Guillain-Barre syndrome, chronic inflammatory demyelinating polyneuropathy (CIDP), inflammatory myopathies, and others.
The immunodeficiency diseases segment dominates the global intravenous immunoglobulin market. The rising prevalence of primary and acquired immunodeficiency illnesses is expected to help in segment dominance. To eradicate the infections, PID & AID require IVIG treatment. The best alternative to IVIG replacement therapy for the treatment of immune-deficiency illnesses is currently available. Therefore, the global market is expected to continue to expand in subsequent years.
In 2021, the chronic inflammatory demyelinating polyneuropathy (CIDP) segment accounted for the second-largest revenue share of the market. Generally, diabetes mellitus patients suffer from chronic inflammatory demyelinating polyneuropathy. Steroids, plasmapheresis, and immunosuppressive medications are all used to treat this condition. IVIG is a potent and durable substitute for these approaches. The associated advantages of safety, minimal invasiveness, and ease of administration are fostering the market segment expansion.
Intravenous Immunoglobulin Market by Form
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Based on the form, the global intravenous immunoglobulin market is segmented into liquid and lyophilized.
The liquid segment is projected to dominate the global intravenous immunoglobulin market during the forecast period. Due to faster infusion times and simpler preparation and administration, the usage of liquid form is more convenient for patients and medical professionals. The liquid form is recommended since mixing the powder with either water or saline is a laborious task that is inconvenient for healthcare workers in emergencies. As it is simpler to administer, the liquid form of IVIG is a ready-to-use solution that is more convenient for patients and healthcare professionals. Additionally, a shorter infusion period makes it easier to monitor clinical procedures and more tolerable for patients, which supports the market segment revenue growth.
Intravenous Immunoglobulin Market by End-user
Based on the end-user, the global intravenous immunoglobulin market has been segmented into hospitals & clinics and home care.
The hospital pharmacy segment dominates the global intravenous immunoglobulin market. This is attributed to the extensive network of hospitals and the practical selection of goods that are readily available from hospital pharmacies. In addition, the rising prevalence of hepatitis C, primary immunological deficiencies, and other illnesses has resulted into the increased hospital admissions globally, boosting consumer demand for hospital pharmacies. Hospitals also provide quick reimbursement, treatment, and appropriate care to a significant number of patients, enabling a rise in the proportion of patients choosing hospital pharmacies.
Intravenous Immunoglobulin Market by Region
Based on the region, the global intravenous immunoglobulin market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the intravenous immunoglobulin market. The primary drivers of market revenue expansion include expanding clinician propensity for these medicines, rising awareness about items used in the treatment of immunodeficiency illnesses, and increasing healthcare spending of the regional population. Additionally, the adoption of IVIG therapies, presence of well-established healthcare and research infrastructure, and the steadily rising number of product approvals by the U.S. FDA are projected to help in the regional market revenue growth during the forecast period. Some factors influencing this industry’s expansion in the region include changing lifestyles and an increase in the number of geriatrics at risk for chronic diseases. Autoimmune disorders are the third most common cause of chronic illnesses in the United States. The National Institutes of Health estimates that between 5% and 8% of the U.S. population is expected to be affected by diseases, as many autoimmune conditions are infrequent. For unknown reasons, autoimmune diseases are becoming more prevalent. This number is anticipated to increase during the forecast period, fueling the regional market revenue growth.
Intravenous Immunoglobulin Market Competitive Landscape
The prominent players operating in the global intravenous immunoglobulin market are:
Intravenous Immunoglobulin Market Strategic Developments
The global intravenous immunoglobulin market is expected to register a revenue CAGR of 7.2% during the forecast period.
Biotest AG, Octapharma AG, LFB Biotechnologies, Grifols SA, and Takeda Pharmaceuticals Inc. are among the key players in the global intravenous immunoglobulin market.
The immunodeficiency disease segment dominates the global intravenous immunoglobulin market.
Asia Pacific is expected to register the highest revenue share of the global intravenous immunoglobulin market during the forecast period.
The global intravenous immunoglobulin market was valued at US$ 11 billion in 2021.
*Insights on financial performance are subject to the availability of information in the public domain