Rockville, March 13, 2023 (GLOBE NEWSWIRE) -- The global immunoglobulins market is set to reach US$ 14 billion in 2023. Over the next ten, the global market size will nearly double and reach US$ 27 billion by 2033. Global immunoglobulin demand is forecast to rise at 6.8% CAGR between 2023 and 2033.
Increasing prevalence of autoimmune disorders is driving the global immunoglobins market. In recent years, there has been increase in cases of chronic inflammatory demyelinating polyneuropathy, hypogammaglobulinemia, and other diseases. This has created high demand for immunoglobins.
Rising awareness about higher effectiveness of immunoglobulins against auto-immune diseases will boost market.
Immunoglobulins are proteins present in serum and cells of immune system. These proteins function as antibodies and help to fight infections. They help the immune system to detect and neutralize foreign objects such as pathogenic viruses and bacteria.
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Rising usage in medical and research applications will elevate immunoglobulin demand through 2033. In medical applications, immunoglobulins are being used for disease diagnosis & disease therapy.
For instance, targeted monoclonal antibody therapy is utilized for treating conditions such as multiple psoriasis and arthritis. It is also employed for treating various forms of cancer. Hence, rising cases of these diseases will boost the global immunoglobulins market.
Rising awareness of early detection is likely to support immunoglobulin market expansion. Also, increasing medical spending and rising preference for personalized medicine will impact sales.
Growing geriatric population will also trigger development of the immunoglobulin market. Further, presence of favorable reimbursement policies and new product launches & approvals will boost the market.
The immunoglobulin market will also benefit from increasing research and development activities. Large amounts are being spent to develop novel treatment therapies for autoimmune diseases. This will create lucrative growth opportunities for immunoglobulin companies.
With around 60% market share, intravenous segment dominates the global immunoglobulins market. This is due to rising preference for administering immunoglobulins through intravenous mode.
North America currently dominates the global immunoglobulins market with a share of around 50%. High acceptance of immunoglobulin therapies is providing impetus to North America market. Besides this, presence of an advanced healthcare sector will support market expansion.
Key Takeaways:
- By administration, intravenous segment is expected to account for around 3/5th of share in the market.
- Neurology will remain the most lucrative application for immunoglobulins through 2033.
- North America holds around 50% of revenue share of the global immunoglobulins market.
- The United States immunoglobulins market is set to expand at a healthy pace through 2033.
- With increasing government investments, Germany will emerge as a lucrative immunoglobulins market.
- Demand for immunoglobulins in Japan is forecast to increase at a steady pace over the next decade.
Growth Drivers:
- Rising prevalence of immunodeficiency diseases is driving the global market forward.
- Development of improved immunoglobulin purification and production technologies and techniques will boost market.
- Increasing investment in research and development will create lucrative opportunities for companies.
- Growing adoption of novel immunoglobulin therapies will elevate demand in the global market.
Restraints:
- High costs associated with immunoglobulins is challenging market growth.
- Increased risk of side effects associated with immunoglobulins use might limit market expansion.
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Competitive Landscape:
Leading immunoglobulin companies are focusing on developing novel therapies and receiving approvals. They are also forming alliances and collaborations with other players. Besides this, they are adopting merger & acquisitions strategy to expand their presence.
For instance,
- In March 2022, Grifols’ XEMBIFY received approval from multiple health authorities in the United Kingdom. It is an advanced 20% subcutaneous immunoglobulin approved for the treatment of primary and nominated secondary immunodeficiencies.
- In August 2022, Argenx received marketing authorization for Argenx from the Europe Commission. It will be used to cure adult patients with widespread myasthenia gravis treated against acetylcholine receptors that are anti-acetylcholine receptor antibody positive.
Key Companies Profiled by Fact. MR
- Grifols, S.A.
- Octopharma
- Kedrion Biopharma Inc.
- Biotest AG
- Sanquin
- Abeona Therapeutics
- Baxter International Inc.
- CSL Behring
- Evolve Biologics Inc.
More Valuable Insights on Immunoglobulins Market
In the up-to-date study, Fact.MR offers a detailed study of the global immunoglobulins market for the forecast period of 2023 to 2033. This study also highlights key drivers impacting the sales of immunoglobulins through detailed segmentation as follows:
Administration:
- Intravenous
- Subcutaneous
- Intramuscular
Application:
- Neurology
- Immunology
- Hematology
- Others
End User:
- Hospitals
- Clinics
- Homecare
Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered in the Immunoglobulins Market Report
- What is the projected value of the immunoglobulins market in 2023?
- At what rate will the global immunoglobulins market surge until 2033?
- Which are the factors hampering the development in the immunoglobulins market?
- Which region is expected to lead in the global immunoglobulins market from 2023 to 2033?
- Which are the factors driving the immunoglobulins market during the forecast period?
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