Subcutaneous Immunoglobulin Market to Report a CAGR of 14.0% By 2024
Posted: Aug 10, 2018
The global subcutaneous immunoglobulin market has been envisaged in a report by Transparency Market Research (TMR) to witness players relying on steady expansion efforts to cement their position in the industry. It could act as a landscape of opportunities for new players looking to improve their share in the near future. Some of the key players operating in the market are Kedrion S.p.A, Biotest AG, Shire Plc., CSL Behring LLC, and Grifols S.A.
TMR has prophesied the global subcutaneous immunoglobulin market to rise at a 14.0% CAGR during the completion of the forecast tenure 2016-2024. The market could reach an US$8.8 bn valuation by the end of 2024. In terms of application, it has been foreseen to testify of the dominance expected to be secured by primary immunodeficiency diseases (PIDDs) in the coming years. By region, North America could continue taking a larger share of the market all through the course of the forecast period. In 2016, it had bagged revenue earnings worth a US$1.3 bn.
Advent of Therapeutically Advanced Products Acts as Boon to Market
Ever since the launch of subcutaneous immunoglobulin, the global market has been gaining impetus with regard to growth. Developing economies could be in the limelight if the growth journey of the market is to be documented. One of the reasons for this outcome has been foretold to be the noticeable increase in the adoption of subcutaneous immunoglobulin. The growth of the world subcutaneous immunoglobulin market could gain from the introduction of therapeutically advanced products or even those that are still under development. This could also promote further novelty from the next round of new companies entering the market.
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Therapeutically advanced products have been projected to mitigate unmet needs in two important ways, i.e. formulating concentrated solutions that decrease infusion time and reducing the count of systemic adverse events.
High Treatment Cost Spoils Rise in Demand for Subcutaneous Immunoglobulin
The gap between supply and demand has been prognosticated to show on the growth of the international subcutaneous immunoglobulin market in a negative way. Another factor that could hamper market growth is the expensive cost of treatments that involve the use of subcutaneous immunoglobulin therapy. However, new products developed with the intention of facilitating and improving subcutaneous administration of immunoglobulins have been envisioned to create lucrative prospects in the foreseeable future. This could be evident with the possibility of an increase in the bioavailability of subcutaneous immunoglobulin because of the use of hyaluronidase-facilitated administration.
In future, the administration of immunoglobulin could be performed via the subcutaneous route as more number of physicians and patients develop a preference for it in a time where the aforementioned developments are being converted into clinical practice. The international subcutaneous immunoglobulin market has also been predicted to attain growth on the back of government support for measures that combat against the spread of AIDS and other fatal diseases.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Transparency Market Research (Tmr) is a U.S.-based provider of syndicated research, customized research, and consulting services.