New York, Dec. 22, 2022 (GLOBE NEWSWIRE) -- As per a study conducted by Persistence Market Research, the global intravenous immunoglobulin market is anticipated to secure US$ 12,000 Million in 2022, whereas, it was valued US$ 11,215 Million in 2021.
Owing to the increasing prevalence of immunodeficiency diseases, coupled with the adoption of intravenous immunoglobulin (IVIG) therapies, is likely to flourish significantly, securing US$ 25,884 Million while recording a CAGR of 7.9% during the forecast period from 2022-2032.
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.
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Key Takeaways from the Market Study
- By distribution channel, hospital pharmacy segment is expected to dominate the market with a revenue share of over 57% in 2022
- By application, immunodeficiency diseases are expected to dominate the market with a revenue share of over 20%
- North America is expected to possess 47% market share for intravenous immunoglobulin in 2022.
- Asia Pacific is expected to possess 35% market share for intravenous immunoglobulin in 2022.
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).
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Competitive Landscape
Market players are adopting various strategies such as mergers and acquisitions, distribution, and other collaborative agreements to gain a greater share by increasing their market penetration.
- In January 2022, for example, Argenx SE confirmed that Japan's Ministry of Health, Labour, and Welfare certified VYVGART intravenous infusion for the treatment of severe adult patients with generalized myasthenia gravis who do not respond adequately to steroids or non-steroidal immunosuppressive treatments.
- In April 2021, Grifols, S.A. 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, which is expected to boost the market growth in the forecast period.
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