Published: Feb, 2017
The global intravenous immunoglobulin (IVIG) products market is highly consolidated in nature, with the top four companies – Octapharma AG, Grifols S.A., CSL Behring LLC, and Baxalta Incorporated – accounting for over 70.0% of the overall market in 2015. With a dominant share of 23.0%, Grifols S.A. leads due to its strong geographic penetration.
The competition in the market among the top players is intense and to be ahead in the game, many companies are now taking strategic measures such as mergers and acquisitions and geographic expansions, finds Transparency Market Research (TMR). One such case is the geographic expansion of CSL Behring LLC in Russia in December 2015. The requirement of quality biotherapeutics and blood plasma products in the country is stated to be the primary driving factor for the expansion.
According to a TMR report, the global intravenous immunoglobulin (IVIG) market is expected to reach US$14.92 bn in 2024 from its initial value of US$7.76 bn in 2016, and is projected to expand at a CAGR of 8.5% during the forecast period.
Home Care to Overtake Hospitals as Leading End-user Segment by 2024
Based on end user, the global IVIG market is currently being dominated by hospitals, accounting for a share of more than 62.0% in the overall market in 2015. A large section of the patient pool is choosing hospitals over clinics. Better reimbursement policies, rising government investment, and high budgetary expenditure have led to the escalation of IVIG therapies, thereby augmenting the global market of IVIG products.
Subsequently, home care is expected to overtake hospitals in terms of revenue generation in the coming years. Many consumers are favoring home care settings for treatment, as IVIG therapy is a time consuming procedure, in which the infusion takes place at a slow rate and lasts for a long period of time. This is one important aspect that is making home care the most rewarding end-user segment of the intravenous immunoglobulin (IVIG) market, and is anticipated to take the lead in the market by 2024.
With over 45.0% of the global market, North America will continue to dominate the market by 2024. This region’s strong economy, rising prevalence of immunological disorders, abundant plasma supply, and advancements in technology have led to the growth of the market. Additional factors include increasing geriatric population, favorable reimbursement policies, and high investments in research and development.
To boost plasma donation in the U.S., the FDA has approved payment to plasma donors, thereby driving the IVIG market. This step has not only made the country self-reliant in plasma supply, but also a chief exporter of plasma derived products globally, sequentially strengthening the North America market.
High Treatment Cost and Side Effects Limit IVIG Products Growth
The key driving factor of the intravenous immunoglobulin (IVIG) market is the rising prevalence of hematological and neurological disorders such as idiopathic thrombocytopenic purpura (ITP), alloimmune thrombocytopenia, and myasthenia gravis. Plus, the escalating geriatric population, which is more vulnerable to diseases due to poor immunity, is another factor driving the IVIG market.
However, one of the major setbacks for the global IVIG market is the collection cost of plasma and manufacturing process which is comparatively much higher than traditional pharmaceutical manufacturing and processing products. Furthermore, IVIG processes need utmost care and safe handling. Being derivatives of blood, immunoglobulin products require highly sophisticated methods and equipment for collection, purification, and storage, adding to the overall cost and complexity of IVIG products and therapies. Due to several side effects, many patients discontinue IVIG therapy. The fear of side effects has led to various clinicians opting for an alternative therapy, thereby limiting the growth of the market.
This review is based on the findings of a TMR report titled ‘Intravenous Immunoglobulin (IVIG) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.’
Global Intravenous immunoglobulin (IVIG) Market, by Indication
- Chronic Inflammatory Demyelinating Polyneuropathy (CIDP)
- Primary Humoral Immunodeficiency
- Idiopathic Thrombocytopenic Purpura (ITP)
- Guillain-Barre Syndrome
- Myasthenia Gravis
- Multifocal Motor Neuropathy (MMN)
- Kawasaki Disease
- Chronic Lymphocytic Leukemia
Global Intravenous immunoglobulin (IVIG) Market, by End-user
- Home Care
Global Intravenous immunoglobulin (IVIG) Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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