The global intravenous immunoglobulin market is expected to rise at a CAGR of 6.22% during the forecast period. As a result, the market size is projected to grow to USD 19.28 billion by 2028 from USD 14.26 billion in 2023.
Immunoglobulins are proteins made by the plasma and B-type cells of the white blood cells (WBC) in the human body and are tasked to act as the antibodies of the system. The immunoglobulins are of different types like IgA, IgG, IgM, IgD, IgE and are tasked with various functions and areas in the body. All of these antibodies protect the body from diseases and advance the body's immune system to keep the individual healthy.
Impact of COVID-19 on the global intravenous immunoglobulin market:
The COVID-19 pandemic increased the demand for better healthcare services worldwide. People became more aware of self-health care and the importance of hygiene. However, the crisis led to a shortage of healthcare professionals as more people were admitted daily. It was observed through several studies that people with immunodeficiency were more prone to contracting the coronavirus, so the awareness of building a better immune system was spreading around the world. Therefore, the market for intravenous immunoglobulin benefitted due to the requirement for immunoglobulin. The patients admitted to the covid ward were intravenously administered immunoglobulin, and the market's growth spiked. The administration of immunoglobulin was proven to have positively impacted the patients. Even after the pandemic, the awareness and importance of the immunoglobulin market have been prevalent due to its aftereffects. Therefore, the COVID-19 pandemic has positively impacted the intravenous immunoglobulin market.
MARKET DRIVERS:
The global market for intravenous immunoglobulin is growing due to the rise in the geriatric population and the adoption of sedentary lifestyles such as the consumption of fats, salts, and sugars and habits like alcohol ingestion and less physical exercise. In addition, the market is promoted by the rise in immunodeficiency diseases, bleeding issues, and patients with (CIDP) chronic inflammatory demyelinating polyneuropathy. Along with spreading awareness and adoption of the intravenous immunoglobulin procedure by the common public. Intravenous immunoglobulin treatment is the only method to treat immunodeficiency; therefore, it has high demand in the healthcare industry. Additionally, the rising research and development activities in the field and the heightened investments and government funding are pushing the market's growth.
The COVID-19 research and the prevalence of immunodeficiency diseases encourage market growth.
The WHO statistics claim that around 6 million people worldwide suffer from primary immune deficiencies (PIDs). There are approximately 50 different types of PIDs, and people are affected by 176 different types of hereditary PIDs every day. These various types of immunodeficiencies make the population prone to falling ill. An article titled: "The use of Intravenous Immunoglobulin Gamma for the Treatment of severe coronavirus disease 2019: a randomized placebo-controlled double-blind clinical trial" used intravenous immunoglobulin to help the covid ridden patients, and the effects were being researched, and the Phase 3 trial, known as Inpatient Treatment with Anti-Coronavirus Immunoglobulin, or ITAC, was sponsored and funded by the National Institute of Allergy and Infectious Diseases (NIAID), a division of the National Institutes of Health. Anti-coronavirus hyperimmune intravenous immunoglobulin, often known as hIVIG, was the antibody treatment studied in the ITAC study. Therefore, the rising rates of immunoglobulin diseases and the research related to and after covid are significant drivers for the market.
MARKET RESTRAINTS:
The impending high costs associated with receiving long-term intravenous immunoglobulin treatment, which makes it difficult to afford the treatment, is expected to cause a hindrance to the growth of the intravenous immunoglobulin market.
This research report on the global intravenous immunoglobulin market has been segmented and sub-segmented based on application, distribution channel, and region.
Global Intravenous Immunoglobulin Market – By Application:
Due to the rising incidents of PID (primary immunodeficiency disease) and AID (acquired immunodeficiency disease) worldwide, the immunodeficiency disease segment is expected to dominate the market during the forecast period. On the other hand, chronic inflammatory demyelinating polyneuropathy followed by hypogammaglobulinemia followed by Kawasaki disease are expected to dominate the market in descending order after the immunodeficiency diseases. The primary reason for using intravenous immunoglobulin in these procedures is because it is a relatively safe, user-friendly, and less invasive process and is widely accepted by populations.
Global Intravenous Immunoglobulin Market – By Distribution Channel:
Based on the distribution channel, the hospital pharmacy segment is expected to dominate the market during the forecast period. This segment's dominance is due to the rising cases of immunodeficiency diseases resulting in more hospital admissions and a wide range of medications available in hospital pharmacies. In addition, hospitals have good service and reimbursement policies and therefore are a credible source of treatment for populations.
The specialty pharmacy segment is also expected to grow owing to the increased licensing of specialty drugs.
Global Intravenous Immunoglobulin Market – By Region:
With a share of more than 45% in 2022, North America dominated the market and is expected to continue dominating during the forecast period. The primary drivers of market expansion include expanding clinician propensity for these medicines, raising awareness of items used in treating immunodeficiency illnesses and increasing healthcare spending. Additionally, it is projected that the administration of IVIG therapies for the treatment of sickness will increase, as will the presence of a well-established healthcare and research infrastructure and the steadily rising number of product approvals from the U.S. FDA. The prevalence of immunity-related diseases in the North American region also leads to the market's need. For example, Autoimmune disorders are the third most common cause of chronic illnesses in the United States.
As a result of growing awareness and potential opportunities for adopting immunoglobulin-based therapies for the treatment of primary immune deficiencies, combined with a growing geriatric population, the Asia Pacific is predicted to experience a lucrative growth rate over the forecast period. In addition, emerging countries, rising healthcare spending, and the quickly expanding immunoglobulin market are other reasons boosting the development of the industry in countries like China, India, Japan, etc.
TOP COMPANIES IN THIS MARKET:
China Biologics Products Inc., Kedrion Biopharma, BDI Pharma Inc., Biotest AG, Baxter International Inc., Octapharma AG, LFB Biotechnologies, Grifols SA, CSL Behring, Baxalta Incorporated, and Sanquin Plasma Products B.V. are some of the notable players in the global intravenous immunoglobulin market profiled in this report.
Frequently Asked Questions
The global intravenous immunoglobulin market size was valued at USD 12.64 billion in 2021.
The COVID-19 pandemic impacted the intravenous immunoglobulin market positively. A detailed impact on the market is thoroughly studied in this report, request a sample brochure of the report for more information.
Geographically, the North American region had more than 40% of the global market in 2021.
The Europe intravenous immunoglobulin market size is estimated to value USD 5.26 billion by 2027.
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