Global Intravenous Immunoglobulin (IVIG) Market: Rising Patient Pool of Neurological Disorders to Boost Global Consumption of IVIG Products, observes TMR
The global intravenous immunoglobulin (IVIG) market is largely consolidated, with top four players: Grifols S.A., CSL Behring LLC, Baxalta Incorporated, and Octapharma AG, accounting for over 70% of the overall market in 2015. Grifols S.A. accounted for the dominant share of 23.0%, chiefly on account of the company’s strong geographic penetration. Oligopoly in the market has led to intense competition among top players and has compelled companies to take course of strategic mergers and acquisitions and geographic expansions. Point in case is the CSL Behring LLC’s geographic expansion by opening operations in Russia in December 2015. The company stated that the expansion was driven by large unmet need of quality biotherapeutics and blood plasma products in the country. Browse Global Strategic Business Report: http://www.transparencymarketresearch.com/intravenous-immunoglobulin-market.html Transparency Market Research estimates that the global intravenous immunoglobulin (IVIG) market, which was valued at US$7.23 bn in 2015, is projected to expand at a CAGR of 8.5% from 2016 to 2024 and reach US$14.92 bn in 2024. In terms of end users, the hospitals segment is presently leading, accounting for a more than 62% of the overall market in 2015. The segment is, however, expected to lose prominence to the home care segment and reflect a loss in its overall share by 2024. In terms of geography, North America, which presently accounts for over 45% of the global market, is expected to retain dominance by 2024 as well. Rising Prevalence of Neurological Diseases to Boost Global Demand for IVIG Products The rapidly rising prevalence of a variety of hematological and neurological disorders such as alloimmune thrombocytopenia, idiopathic thrombocytopenic purpura (ITP), and myasthenia gravis is the chief factor driving the intravenous immunoglobulin (IVIG) market. For instance, the occurrence of myasthenia gravis in the U.S. has been assessed at 14 to 20 cases out of 100,000 people, which comes to around 36,000 to 60,000 cases in the country. This neuromuscular transmission has a high probability of remaining undiagnosed and thus the prevalence of this disease is actually much higher. Over 40% of the world’s IVIG products are used to treat neurological diseases, thus the rising prevalence of neurological disorders is a highly significant factor of growth for the global IVIG market.