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Posted by Kyler Werner on May 15, 2024 at 7:02am 0 Comments 0 Likes
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The global Intravenous Immunoglobulin Market size is expected to reach USD 21.1 billion by 2030, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 7.3% from 2022 to 2030. The increasing prevalence of immunodeficiency diseases, coupled with the adoption of intravenous immunoglobulin (IVIG) therapies, is expected to fuel market growth over the forecast period. In addition, increasing off-label use of immunoglobulin and investments in the healthcare sector are factors propelling the market growth. Moreover, increasing incidences of bleeding disorders and the growing geriatric population are the factors contributing to the industry growth.
The rising incorporation of subcutaneous immunoglobulin in the treatment of primary immunodeficiency diseases as well as in replacement therapy is anticipated to provide a growth platform to the market in the next seven years. Moreover, the key market players are focusing on breakthrough product introductions to expand their global distribution network. For instance, Octapharma U.S. got FDA clearance in July 2021 for Octagam 10%, its first intravenous immunoglobulin recommended for the treatment of the immune-mediated inflammatory illness known as dermatomyositis in adults.
The COVID-19 pandemic, which is currently in its last stages, is expected to boost the worldwide market for intravenous immunoglobulin. In India, for instance, Bharat Biotech is conducting a study to create monoclonal antibodies as a potential COVID-19 treatment. The Council of Scientific and Industrial Research (CSIR) has approved the project as part of its New Millennium Indian Technology Leadership strategy. Moreover, COVID-19 has caused substantial issues for patients with mental and neurological disorders due to their increased susceptibility to infection. For instance, in April 2021, Grifols, a key provider of plasma-derived medicines, contributed to a research study in collaboration with both the NIH and NIAID, to analyze an intravenous anti-SARS-CoV-2 hyperimmune globulin among outpatients. This is expected to provide a boost to the market growth in the forecast period.
Key players are adopting strategic alliances to sustain the competition. These initiatives include mergers & acquisitions, collaborations, and new product developments. For instance, in March 2022, Grifols' XEMBIFY has been approved in Europe, increasing access to novel medicines. Grifols' clearance in Europe allows it to extend its breakthrough European IG product range and offer patients and healthcare professionals another crucial therapy solution for primary and secondary immunodeficiencies. In February 2021, Pfizer gained US FDA clearance for the supplemental Biologics License Application (sBLA) with PANZYGA, an intravenous immunoglobulin to cure adult patients with severe inflammatory demyelinating polyneuropathy (CIDP).
Related Press Release@ Intravenous Immunoglobulin Market Report
Intravenous Immunoglobulin Market Report Highlights
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