The global market for Intravenous Immunoglobulin (IVIg) is projected to reach US$15.9 Billion by 2024, driven by aging population, increasing incidence of autoimmune diseases such as lupus, growing awareness and rising adoption in emerging markets.
Immunoglobulins or antibodies are naturally occurring human blood constituents that when extracted and concentrated find use in the treatment of various diseases related to immune deficiency. Intravenous Immunoglobulin (IVIg) contains pooled immunoglobulin/antibody G that is administered intravenously for the treatment of various immune deficiencies. Currently, IVIg is the most important blood plasma protein therapy used in the treatment of a variety of labeled and unlabeled indications across therapeutic areas such as neurology, hematology and immunology. Growing geriatric population, increasing incidence and prevalence of various target conditions, rising awareness, supportive reimbursements, growing approved and off-label use and increasing healthcare expenditure are some of the major factors driving market growth. Expansion of indications over the years and rise in off-label use are other factors contributing to rise in demand for IVIg.
Primary Immunodeficiency (PI) and neurological disorders such as Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) are the major indications for IVIg. All IVIg products available on the market are indicated for PI. Increasing efforts to improve identification of PI patients through building awareness and diagnostics in markets such as the US and UK, while growing awareness in emerging markets are expected to further boost adoption of IVIg. Certain existing intravenous products are currently undergoing life-cycle management as they are being tested for new indications and new markets, including CIDP. Further, efforts are underway to test the efficacy of IVIg therapy in the treatment of Alzheimer's - an area of significant unmet needs. Expansion of indications is expected to offer further ground for market penetration and thereby fuel market growth. Stringent governmental regulations related to appropriate usage of IVIg, high treatment costs, and high risks of side-effects are some of factors restraining market growth.
The U.S. represents the largest market worldwide for Intravenous Immunoglobulin (IVIg). High demand in the country is driven by large target patient population, rising geriatric population, high level of awareness and favorable government policies, higher overall awareness, presence of advanced medications and better reimbursement environment. Asia-Pacific represents the fastest growing market worldwide, with a CAGR of 9.7% through the analysis period. Growing geriatric population, improving healthcare infrastructure, rising incomes and increasing purchasing power are driving demand for IVIg in the region.
Major players in the market include Bharat Serums and Vacc ines Limited, Biotest AG, China Biologic Products, Inc., Guizhou Taibang Biological Products Co., Ltd., CSL Limited, Grifols, S.A., Hualan Biological Engineering Inc., Kedrion S.p.A., LFB Group, Octapharma AG, Shanghai RAAS Blood Products Co., Ltd., Shire plc and Sichuan Yuanda Shuyang Pharmaceutical Co., Ltd. among others.