by The Human Immunoglobulin (pH4) for Intravenous Injection Market is estimated to be valued at US$ 61.6 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Human immunoglobulin (pH4) for intravenous injection is a sterile solution of highly purified immunoglobulin G (IgG) extracted from pooled adult human plasma that provides immediate and long-term improvement in antibody deficiency conditions. It is used for primary immunodeficiency disease (PIDD) and other conditions like immune thrombocytopenic purpura (ITP). The major advantages of human immunoglobulin (pH4) for intravenous injection over alternative treatments are its safety, efficacy and tolerability.
Market key trends:
The global human immunoglobulin market is expected to witness significant growth during the forecast period, owing to rising prevalence of primary immunodeficiency diseases. According to World Health Organization (WHO), primary immunodeficiency diseases affect 1 in every 10,000-20,000 people worldwide. Furthermore, increasing use of intravenous immunoglobulin (IVIG) for off-label indications such as Guillain-Barre syndrome, myasthenia gravis, and chronic inflammatory demyelinating polyneuropathy is expected to drive the market growth over the forecast period. Also, growing awareness regarding immunoglobulin replacement therapy and rising healthcare expenditure are some other factors expected to fuel the market growth.
Porter’s Analysis
Threat of new entrants: The barriers to entry in this market are high as setting up plasma fractionation facilities requires large capital investment and regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is moderate as this market deals with hospital and clinics which purchase regularly but the availability of substitutes provide some competition.
Bargaining power of suppliers: The bargaining power of suppliers is low as raw material plasma is collected from thousands of donors across the globe and supply contracts are for long term.
Threat of new substitutes: Threat from new substitutes is low as human immunoglobulin processed from plasma is considered the gold standard with no effective substitute available.
Competitive rivalry: Intense among existing players.
SWOT Analysis
Strength: High efficacy and safety profile of Human Immunoglobulin (pH4) as a treatment option. Wide range of clinical indications approved.
Weakness: Complex and capital intensive manufacturing process increases costs. Supply chain disruptions can impact availability.
Opportunity: Increasing plasma collection and higher product yields per liter expected to push volumes. Untapped growth areas in developing regions.
Threats: Stringent regulatory norms add to compliance burden. Threat from biosimilars in future.
Key Takeaways
The Global Human Immunoglobulin (Ph4) For Intravenous Injection Market Growth is expected to witness high, exhibiting CAGR of 12% over the forecast period, due to increasing prevalence of immunodeficiency and autoimmune diseases. The market size for 2023 is US$ 61.6 Bn.
Regional analysis: North America dominates the global market and is expected to maintain its lead over the forecast period owing to rising healthcare spending and well-established healthcare system. Asia Pacific is projected to witness fastest growth rate during the forecast period driven by huge patient pool, improving access to diagnosis and treatment, and increasing healthcare spending in China and India.
Key players operating in the Human Immunoglobulin (pH4) for Intravenous Injection market are Takeda Pharmaceutical Company Limited, Baxter, CSL, Bayer AG, Grifols, S.A, Octapharma Brasil Ltda, Shanghai RAAS Blood Products Co Ltd, Hualan Biological Engineering, Inc, Top Bio Group Co, Ltd (A subsidiary of China Biologic Products Holdings, Inc), China Resources Boya Bio-pharmaceutical Group Co Ltd, ADMA Biologics, Inc, Sinopharm Group Co. Ltd. The key players are focusing on new product launches, expansions, and mergers & acquisitions to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
