IVIG Market Will Benefit from Increase in Geriatric Population and Hemophilic Patients
According to the Immune Deficiency Foundation, approximately 350 rare, primary immunodeficiency diseases have been diagnosed in the world. These diseases lead to deterioration or dysfunction of the immunity system, thus generating a necessity for external immunoglobulins. Autoimmune diseases can affect people of any age and gender and are quite often present since infancy. This renders doctors with intravenous immunoglobulin as the best possible solution to alleviate the symptoms, especially in children. Furthermore, shifting preference towards IVIG over steroids has been observed in the healthcare industry. For example, one of the most common immunodeficiency diseases to exist is Kawasaki disease. According to the Kawasaki Disease Foundation, approximately 5400 cases of Kawasaki disease are recorded annually in the U.S. Furthermore, 74% of these cases consist of children below five years of age. Reducing symptoms or curing the disease through steroids is an expensive procedure and can have side effects as well. However, theIVIG market has benefitted tremendously from this factor and earned a revenue of $9.6 billion in 2018. During the forecast period of 2019-2025, the IVIG market will grow with a CAGR of 7.2%. The report IVIG Market Size by application and clinical trial phase, IVIG market share by top 5 companies and also the market share by start-ups during the forecast period.
Prevalent Incidence of Hemophilia Will Positively Impact The Global IVIG Market
With the entire world population taken into consideration, hemophilia appears to be a rare medical condition. However, hemophilia is a serious autoimmune condition occurring predominantly in males causing internal bleeding in different parts of the body. According to statistics by the Centers for Disease Control and Prevention, the A type of this condition affects 1 in every 5000 male births, and approximately 400 babies are born with Hemophilia A every year in the U.S. Recent findings have also suggested that family history is crucial in the incidence of hemophilia. An individual is more likely to suffer from this condition if a family member has suffered from the same. This condition is detrimental to joints and mobility in individuals and gets worse with aging. Though hemophilic patients suffer from the condition for life, intravenous immunoglobulin treatment has emerged as the most beneficial medical therapy for reducing symptoms of the condition. Through intravenous immunoglobulin influx, patients can control the internal bleeding owing to the reception of platelets from plasma. This has provided impetus to the global IVIG market as the participation for plasma donation rises, thus increasing the use of intravenous immunoglobulin treatment in hemophilic patients.
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The Aging of Immunity System Will Provide Impetus to the Global IVIG Market
Statistics from eminent organizations across the world are pointing towards the visible rise in the geriatric population. According to the United States Census Bureau, by the year 2030, the number of older people in the U.S. will become more than the number of children. This increase will occur owing to the improvement of healthcare facilities, falling birth rates in most countries, and rapid migration to first world countries. The geriatric population is highly prone to a consistent weakening of the immunity system. With aging, the capacity for self-renewal or the ability to produce T-cells for fighting off harmful diseases gets considerably reduced. This is the reason why, an older person’s body is more prone to several diseases, thus elevating the demand for immune therapy involving intravenous immunoglobulin. IVIG provides external support to the body for reducing the incidence and symptoms of diseases, thereby providing growth to its market.
Key Players of the IVIG Market
The global IVIG market revenue growth can be attributed to distribution and production strategies of key market players. Since immunoglobulin is mainly acquired from blood donations, market players have been pivotal in generating awareness for increasing voluntary blood donations. The main companies of the IVIG market include Biotest AG, Baxter International Inc., Octapharma AG, LFB Biotechnologies, Grifols SA, CSL Behring, China Biologics Products Inc., Kedrion Biopharma, and BDI Pharma Inc.
In 2014, Baxter International, Inc. collaborated with Halozyme Therapeutics to launch Hyqvia in the U.S. This is an immunoglobulin treatment specifically made for adult patients who are suffering from primary immunodeficiency diseases. This treatment received approval by the U.S. Food and Drug Administration in the same year.
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