The global Immunoglobulins market is expected to witness a healthy growth in the near future, thanks to growing number of cancers and various other chronic illnesses. The market is also expected to be driven rising elderly population, rising health consciousness, growing penetration of healthcare facilities, and growing investment in product development. Major players in the global Immunoglobulins market are expected to invest in more R&D in the near future, due to expiry of various patents, technological advancements like 3D printing, and lowered costs due to global operations. Some key players in the global Immunoglobulins market are CSL Behring, Shire, Grifols, S.A., Kedrion Biopharma Inc, China Biologic Products Holdings, Inc, Octapharma.
The global Immunoglobulins market is witnessing a rising awareness for subcutaneous infusion. The easier method of its administration is expected to boost its adoption as compared to the intravenous injection. Additionally, the process is also witnessing a rising acceptance among medical practitioners and patients due to its proven safety and reliability. Moreover, for indications such as Guillain-Barre syndrome, dermatomyositis, relapsing-remitting multiple sclerosis, and stiff person syndrome, known as off-label indications, the demand is expected to grow. These common off-label indications are expected to create new opportunities for players in the global Immunoglobulins market.
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The global Immunoglobulins market was evaluated at US$ 10,980 Mn in 2017. The market is expected to clock a notable 7.2% CAGR during the 2018-2026 to reach US$ 20,757.1 mn by 2026. Among various applications, the global Immunoglobulins market is expected to register the highest growth in the neurology segment. The primary immunodeficiency and higher dominance of idiopathic thrombocytopenic purpura are expected to drive the segment. Among various regions, the global Immunoglobulins market is expected to witness the highest growth in North America.
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Autoimmune Diseases and Elderly Population to Drive Growth
The global Immunoglobulins market is expected to witness a significant growth in the near future, due to rising primary humoral immunodeficiency, autoimmune hemolytic anemia, immune thrombocytopenia purpura, multiple sclerosis, and kawasaki syndrome. Additionally, rheymatoid arthritis and systemic lupus erythematous are also on the rise. According to IDF or Immune Deficiency Foundation, nearly 83 people out 100,000 suffer from primary immunodeficiency. Moreover, the deficiency is rising among adults as well as children. The rising illnesses, growing access to healthcare, and growing consciousness are expected to be major impetus for growth in the global Immunoglobulins market.
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Moreover, globally the elderly population is rising. The elderly population is at high-risk of various illnesses including autoimmune diseases. The growing population and growing expenditure on health in major markets like the US are expected to create significant opportunities for players in the Immunoglobulins market in the near future.
Hospitals to Remain the Key Service Providers in the Near Future
Based on end-user, the global Immunoglobulinss market is divided into clinic, hospitals, and homecare. Among these, the hospitals are expected to hold the majority of share in the near future. The segment is expected to surpass clinics and homecare as acceptance of advanced treatment and necessary hospitalization in many chronic illness cases drive demand. Moreover, the homecare segment is expected to witness considerable growth in the near future. Based on current trends, it can be concluded that many patients increasingly prefer the home-based care, perhaps due to low costs, and increased access to medical resources at fingertips. Moreover, uncertainties regarding insurance reimbursements can limit the expansion of the market during the forecast period.
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The study presented here is based on a report by Transparency Market Research (TMR), titled, “Immunoglobulinss Market (Applications – Neurology, Immunology, Hematology; Route of Administration – Intravenous, Subcutaneous, Intramuscular; End user – Hospital, Clinic, Homecare) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”
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