Press Release / Immunoglobulins Market
Immunoglobulin Market to Reach USD 29.57 Billion by 2030; Rising Preference for the Common People toward Homecare Settings to Project a Prominent Market Growth
June 02, 2023 | HealthcareThe global immunoglobulin market size is projected to show strong growth by attaining USD 29.57 billion by 2030. Fortune Business Insights™ in its report titled “Immunoglobulin Market Size, Share & COVID-19 Impact Analysis, By Route of Administration (Intravenous and Subcutaneous), By Indication (Primary Immunodeficiency, Secondary Immunodeficiency, Chronic Inflammatory Demyelinating Polyneuropathy, Guillain-Barré Syndrome, Immune Thrombocytopenic Purpura, Multifocal Motor Neuropathy, and Others), By Form (Liquid and Lyophilized), By End-user (Hospitals, Clinics, and Homecare), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 15.05 billion and USD 16.24 billion in 2023. The market is expected to witness a strong CAGR of 8.9% during 2023-2030. Rising cases of primary and secondary immunodeficiency are projected to drive market growth. The rising prevalence of key immunodeficiency disorders is set to push market development.
Marketing Authorization by Biotest AG for Drug to Set Progression for Market Enlargement
In November 2021, Biotest AG received marketing authorization in France for its human intravenous immunoglobulin preparation Intratect, which strengthens its product portfolio. The authorization is set to help in the making of intravenous immunoglobulin, which will help in the expansion of the company’s presence.
Decline in Revenues of Company Led to Decline in Market Growth
The COVID-19 pandemic has negatively impacted the sales of these products globally. Major players operating in the global market have reported significant sales declines in their revenues for FY 2020, thereby negatively affecting the market growth due to the drop in immunoglobulin therapy.
Increasing Cases of Immunodeficiency Disorders to Propel Market Growth
Increasing cases of immunodeficiency disorders such as leukemia, hepatitis, multiple myeloma, and others are expected to fuel the immunoglobulin market growth. Some of the other factors that have bolstered the demand for the product is the rising adoption of a number of organic and inorganic growth strategies and increasing investments by major players for the introduction of advanced therapy options. As per the report of Centers for Disease Control and Prevention, the geriatric population is more sensitive to auto-immune disorders, which is projected to drive market development.
Shift toward Subcutaneous Products over Intravenous Products to Surge Product Demand
One of the key driving factors for the market growth is the shift toward subcutaneous products over intravenous products. One of the most preferred route for the drug is intravenous route. Limitations such as higher cost, requirement of trained professionals, risk of systemic infection, and requirement of extended duration of observation post-injection are limiting the adoption rate of intravenous dosage formulas.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/immunoglobulins-market-100571
Approval for New Medications by Market Players to Expand Market Share
Key players in the market have opted for new launch strategies. For example, in June 2021, Kedrion Biopharma and Kamada Ltd. announced that they have received the approval to update the label for KEDRAB (Rabies Immune Globulin [Human]) for expanding the product portfolio. The approval has been received from the U.S. FDA. Some of the market players including Octapharma AG, Kedrion Biopharma, and others have been focusing on clinical trials and new product development.
Notable Industry Development
- January 2022: For patients with secondary immunodeficiencies, Octapharma AG expanded its indication for cutaquig, subcutaneous immunoglobulin in the European Union.
List of Key Companies Profiled in the Report:
- Takeda Pharmaceutical Company Limited (Japan)
- CSL Limited (U.S.)
- Grifols, S.A. (Spain)
- Octapharma AG (Switzerland)
- Kedrion S.P.A (Italy)
- Bio Products Laboratory Ltd. (U.K.)
- LFB Group (France)
- Shanghai RAAS (China)
- China Biologic Products Holdings, Inc. (TAIBANG BIOLOGIC GROUP) (China)
Further Report Findings
- The market in North America stood at USD 9.00 billion in 2022 due to growing initiatives for the introduction of effective drugs by leading players and the availability of insurance coverage. North America is expected to hold the largest immunoglobulin market share.
- Europe is anticipated to have significant growth in the market due to immunological disorders in various countries such as Germany, the U.K., and France.
- Asia Pacific is set to have maximum CAGR during the forecast period due to growing healthcare reforms, government initiatives to provide costly immunoglobulin therapies at a reasonable cost, and increasing healthcare expenditure.
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 8.9% from 2023-2030 |
Unit | Value (USD billion) |
Segmentation | By Route of Administration, Indication, Form, End-user, and Region |
By Route of Administration |
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By Indication |
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By Form
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By End-user |
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By Geography |
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- 2023
- 2019-2022
- 160
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