USD 5.36 billion
Report ID:
SQMIC35G2279 |
Region:
Country |
Published Date: March, 2024
Pages:
219
|Tables:
70
|Figures:
77
U.S. Intravenous Immunoglobulin Market size was valued at USD 5.78 billion in 2022 and is poised to grow from USD 6.24 billion in 2023 to USD 11.46 billion by 2031, at a CAGR of 7.90% during the forecast period (2024-2031).
The need for immunoglobulin replacement therapy to treat Primary Immunodeficiency Diseases (PIDD) is rising, and this is one of the main drivers of the U.S. IVIG market.
Another key driver is the approval of new medicines, which is expanding the range of available treatments for patients. Adoption of home infusion therapy increased exponentially, which can be linked to the immunocompromised patients' weakened immunity and the safer administration of medications at home. Post-pandemic, the tendency is predicted to persist.
The COVID-19 pandemic has caused significant changes in the industry's market dynamics. Due to the increased demand for plasma products in the early stages of the pandemic for the treatment of SARS-CoV-2 patients, there was a scarcity of immunoglobulin products in the U.S. IVIG market.
The drop in plasma donations during the epidemic compounded this stress by placing a major strain on the plasma supply system. Because plasma fractionations take time, there were supply problems in the beginning of 2021.Businesses are looking into IGIV therapies as a possible kind of treatment.
Higher treatment adoption may result from approval in the following years. Immunoglobulin therapy is costly, which prevents the U.S. from using IVIG more widely. For Instance, according to NCBI, the typical session cost in the U.S. was roughly U.S.D 9,720, which equates to a monthly cost of USD 41,796 for 4.3 sessions.
Patients without insurance or Medicare may find it challenging to receive care because the average annual cost of treating a CIDP patient exceeds USD 136,000. Key manufacturers are putting more emphasis on getting new products approved and into the market in order to meet the growing demand from patients for IVIG due to the evolving needs of the patient population. Multiple autoimmune, neurological, haematological, and immunodeficiency illnesses are all treated with IVIG replacement therapy.
US Intravenous Immunoglobulin Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.36 billion
Largest Segment
Network
Fastest Growth
Network
Growth Rate
7.9% CAGR
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The U.S. intravenous immunoglobulin market is segmented on the basis of application, distribution channels and region. By application, the market is segmented into primary immunodeficiency, chronic inflammatory, demyelinating polyradiculoneuropathy, congenital aids, chronic lymphocytic leukemia, myasthenia gravis, multifocal motor neuropathy, immune thrombocytopenia, kawasaki disease, guillain-barre syndrome. By distribution channels, market is segmented into hospital pharmacy, specialty pharmacy, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
U.S. Intravenous Immunoglobulin Market Analysis by Distribution Channels
Due to the high number of hospitals and the simple accessibility of goods inside the hospitals, the hospital pharmacies sector had the greatest revenue share of the U.S. IVIG market in 2022, accounting for 57.46% of total sales. The simple accessibility of goods in hospitals has fueled the development of this market. Additionally, compared to conventional retail pharmacies, hospital-owned outpatient pharmacies have an advantage because they have access to a patient's electronic health information. As a result, patients are able to get the necessary prescriptions without a prescription from a physician. These elements can be linked to the expansion of this market category.
it is predicted that the specialized pharmacy segment would experience significant expansion. Because specialty pharmacies make it simple to receive treatment at home, this market segment is expected to grow significantly during the projected period. The future of the pharmacy industry will include a sizable and growing portion of specialty medications. According to CVS statistics from May 2021, specialty medications made up 52% of total pharmacy spending in 2020. Additionally, the number of novel treatments for related illnesses has increased by 98%.
U.S. Intravenous Immunoglobulin Market Analysis by Application
Due to the high cost of treatment and the increasing number of patients needing treatment, the primary immunodeficiency diseases sector held the biggest market share of the U.S. IVIG market in 2022, accounting for 21.32% of the total. There have been approximately 300 different forms of PIDDs reported, according to the American Academy of Allergy, Asthma, & Immunology. There are approximately 270,000 cases of PIDD in the United States, or 1 in 1,200. It is expected that the presence of organizations like the Immune Deficiency Foundation, which seek to enhance PIDD diagnosis and treatment through lobbying, education, and research, will increase patient adoption of IVIG therapy.
The IVIG treatment is effective in 85% of CIPD patients, which is anticipated to promote its acceptance, and CIDP is predicted to rise at the fastest rate. Major players are concentrating on creating cutting-edge formulations for the prevention and treatment of CIPD. For instance, Takeda published positive findings from the Phase 3 clinical study for HYQVIA in July 2022, which is approved for the treatment and maintenance of CIPD. In 2022, the company submitted regulatory applications in the U.S. and Europe.
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The Northeast region, comprising states such as New York, New Jersey, Massachusetts, Pennsylvania, and Connecticut, has a significant presence in the IVIG market. This region is home to renowned medical institutions, research facilities, and academic centers, which contribute to the availability and adoption of IVIG treatments. The dense population and advanced healthcare infrastructure in cities like New York City and Boston further enhance the prominence of the IVIG market in the Northeast.
The Mid-Atlantic region, including states such as Pennsylvania, Maryland, Virginia, and Delaware, is another important market for IVIG in the US. This region is known for its strong healthcare systems, with major cities like Philadelphia and Baltimore hosting renowned medical institutions. The presence of leading hospitals and healthcare providers contributes to the availability and utilization of IVIG therapies in the Mid-Atlantic region.
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U.S. Intravenous Immunoglobulin Market Drivers
Innovation and Product Variety
Premiumization and Artisanal Offerings
U.S. Intravenous Immunoglobulin Market Restraints
Volatile Ingredient Costs
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The top companies in the IVIG market in the US are concentrating on growth tactics such as product releases, R&D, mergers & acquisitions, and advancements in the IVIG products already on the market.
U.S. Intravenous Immunoglobulin Market Top Player’s Company Profiles
U.S. Intravenous Immunoglobulin Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
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Report Metric | Details |
---|---|
Market size value in 2022 | USD 5.78 billion |
Market size value in 2031 | USD 11.46 billion |
Growth Rate | 7.90% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the U.S. Intravenous Immunoglobulin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Intravenous Immunoglobulin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Report ID: SQMIC35G2279