Noteworthy growth in the incidences of neurological disorders and autoimmune diseases across the globe is projected to help in the expansion of the global intravenous immunoglobulin (IVIG) market, according to a new study published by TMR. The study notes that the market will develop at 8.1% CAGR during forecast period 2018 to 2026.
Over the period of past few years, there is notable growth in the older population across major parts of the world. This factor is likely to work as one of the key driver for the growth of the intravenous immunoglobulin (IVIG) market. Apart from this, the market will develop on the back of increased demand for highly dependable and adequate treatment measures, growing incidences of different neurological and hematological disorders, and surge in IVIG usage in off-label indications. In addition to this, the development of advanced technologies for production and purification techniques may play a key role in fueling demand for IVIG in the forthcoming years.
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Home Care: Highly Lucrative End-User Segment Showing Avenues for Rapid Growth
The players operating in the intravenous immunoglobulin (IVIG) market are projected to gather prodigious avenues from the home care end-user segment. This growth of the market for of intravenous immunoglobulin (IVIG) is attributable to many factors including shifting patients’ preference for improved care at home, largely in many developed countries. Besides, the IVIG infusion is time consuming as the process of infusion requires a long period of time. Owing to this reason, the patients going through this process prefer the option of home care treatment. This scenario is creating prominent demand opportunities for home care end-user segment of the intravenous immunoglobulin (IVIG) market.
Enterprises Focus on the Development of New and Advanced Therapies
ADMA Biologics, Inc., Shire plc, CSL Behring LLC, China Biologic Products, Inc., Kedrion S.p.A., Grifols S.A., Octapharma AG, Sanquin Plasma Products B.V., and LFB Biomedicaments S.A. are some of the key players working in the global intravenous immunoglobulin (IVIG) market. The existence of many players indicates that the market competition is highly intense. Thus to sustain in this situation, players in the market are utilizing various strategic moves.
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Major enterprises in the intravenous immunoglobulin (IVIG) market are increasing their investments in the research and development activities. One of the prime motives of this tactic is the development and launch of new and advanced therapies.
Asia Pacific: Prominent Region for Market Growth
Europe, North America, Latin America, Middle East & Africa, and Asia Pacific are some of the important regions for the global intravenous immunoglobulin (IVIG) market. Among all regions, Asia Pacific holds major share of the market. Some of the key reasons for this scenario include increased cases of various health issues, growth in the number of geriatric population, and increasing health care spending in the region.
The Asia Pacific intravenous immunoglobulin (IVIG) market is likely to experience sizable expansion opportunities in the forthcoming years. This growth can be attributed to many factors including presence of developing economies and considerable underserved patient population in the region. Apart from this, the regional market will gather the benefit of booming medical tourism, which is the outcome of rising government support and incorporation of different schemes to offer better patients treatment.
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Global Intravenous Immunoglobulin (IVIG) Market Segmentation
The segmentation of the global intravenous immunoglobulin (IVIG) market is performed on the basis of various key aspects such as end-user, indication, and region. Based on end-user, the market for intravenous immunoglobulin (IVIG) is classified into hospital, homecare, and clinic. In terms of indication, the intravenous immunoglobulin (IVIG) market is divided into idiopathic thrombocytopenic purpura (ITP), chronic inflammatory demyelinating polyneuropathy (CIDP), primary humoral immunodeficiency, myasthenia gravis, guillain-barre syndrome, Kawasaki disease, multifocal motor neuropathy (MMN), chronic lymphocytic leukemia, and hypogammaglobulinemia.
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