Healthcare Industry Insights: January 2024

Tuesday 30 January 2024

Intravenous Immunoglobulin Market – Industry Insights By Application

The global Intravenous Immunoglobulin Market size is expected to reach USD 21.05 billion by 2030, registering a CAGR of 7.3% over the forecast period, according to a new report by Grand View Research, Inc. The increasing prevalence of immunodeficiency diseases, coupled with the adoption of intravenous immunoglobulin (IVIG) therapies, is expected to fuel market growth over the forecast period. In addition, increasing off-label use of immunoglobulin and investments in the healthcare sector are factors propelling the market growth. Moreover, increasing incidences of bleeding disorders and the growing geriatric population are the factors contributing to the industry growth.

The rising incorporation of subcutaneous immunoglobulin in the treatment of primary immunodeficiency diseases as well as in replacement therapy is anticipated to provide a growth platform to the market in the next seven years. Moreover, the key market players are focusing on breakthrough product introductions to expand their global distribution network. For instance, Octapharma U.S. got FDA clearance in July 2021 for Octagam 10%, its first intravenous immunoglobulin recommended for the treatment of the immune-mediated inflammatory illness known as dermatomyositis in adults.

The COVID-19 pandemic, which is currently in its last stages, is expected to boost the worldwide market for intravenous immunoglobulin. In India, for instance, Bharat Biotech is conducting a study to create monoclonal antibodies as a potential COVID-19 treatment. The Council of Scientific and Industrial Research (CSIR) has approved the project as part of its New Millennium Indian Technology Leadership strategy. Moreover, COVID-19 has caused substantial issues for patients with mental and neurological disorders due to their increased susceptibility to infection. For instance, in April 2021, Grifols, a key provider of plasma-derived medicines, contributed to a research study in collaboration with both the NIH and NIAID, to analyze an intravenous anti-SARS-CoV-2 hyperimmune globulin among outpatients. This is expected to provide a boost to the market growth in the forecast period.

Key players are adopting strategic alliances to sustain the competition. These initiatives include mergers & acquisitions, collaborations, and new product developments. For instance, in March 2022, Grifols' XEMBIFY has been approved in Europe, increasing access to novel medicines. Grifols' clearance in Europe allows it to extend its breakthrough European IG product range and offer patients and healthcare professionals another crucial therapy solution for primary and secondary immunodeficiencies. In February 2021, Pfizer gained US FDA clearance for the supplemental Biologics License Application (sBLA) with PANZYGA, an intravenous immunoglobulin to cure adult patients with severe inflammatory demyelinating polyneuropathy (CIDP).

List of Key Players in the Intravenous Immunoglobulin Market

Biotest AG
Baxter International Inc.
Octapharma AG
LFB Biotechnologies
Grifols SA
CSL Behring
China Biologics Products Inc.
Kedrion Biopharma
BDI Pharma Inc.

Related Press Release @ Intravenous Immunoglobulin Market Report

Intravenous Immunoglobulin Market Report Highlights

The hypogammaglobulinemia application segment held the third-largest revenue share in 2022. This can be attributed to the increasing demand for immunoglobulin replacement therapies to treat hypogammaglobulinemia diseases, which is driven by rising awareness levels amongst patients and increasing incidences of the disease
The hospital pharmacy distribution channel segment dominated the market with a revenue share of over 57.83% in 2022 owing to the large network of hospitals and the convenient range of products that are easily accessible through hospital pharmacies. Furthermore, hospitals offer fast reimbursement, treatment, and proper care to a large number of patients, enabling a surge in the prevalence of patients selecting hospital pharmacies
The specialty pharmacy distribution channel segment is anticipated to expand at a lucrative CAGR during the forecast period as specialty pharmacies enable easy treatment at home
North America held the largest share of 46.51% in terms of revenue in 2022 due to the presence of a well-regulated healthcare system, the larger pool of target population, and high patient awareness pertinent to the plasma protein products
Asia Pacific is expected to register a significant CAGR of 8.4% over the forecast period owing to the increasing number of patients with bleeding disorders and the growing number of CIDP patients
Countries such as India, China, and South Africa are expected to witness significant growth over the forecast period owing to improving healthcare facilities, rising healthcare expenditure, and growing public awareness regarding immune deficiency disorders
The Kawasaki disease application segment is expected to expand at a lucrative CAGR of 9.6% from 2023 to 2030 owing to the massive adoption of IVIG treatment in the aforementioned disease management

Intravenous Immunoglobulin Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 12.89 billion
Revenue forecast in 2030	USD 21.05 billion
Growth rate	CAGR of 7.3 % from 2023 to 2030
Base year for estimation	2022

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Intravenous Immunoglobulin Market Segmentation

Grand View Research has segmented the global intravenous immunoglobulin market on the basis of application, distribution channel, and region:

IVIG Application Outlook (Revenue, USD Million, 2018 - 2030)

Hypogammaglobulinemia
CIPD
Immunodeficiency Diseases
Congenital AIDS
Chronic Lymphocytic Leukemia
Myasthenia Gravis
Multifocal Motor Neuropathy
ITP
Kawasaki Disease
Guillain-barre Syndrome
Others

IVIG Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

Hospital Pharmacy
Specialty Pharmacy
Others

IVIG Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.
Canada

Europe

Germany
UK
France
Italy
Spain
Denmark
Sweden
Norway

Asia Pacific

China
Japan
India
South Korea
Australia
Thailand

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

South Africa
Saudi Arabia
UAE
Kuwait

About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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Thursday 25 January 2024

Allergy Diagnostics And Therapeutics Market Size is Predicted to Witness 8.7% CAGR till 2030

The global Allergy Diagnostics And Therapeutics Market size was estimated at USD 58.31 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing incidences of allergic diseases, coupled with demand for advanced therapeutics, is expected to drive the market growth in the coming years. According to estimates published by the American Academy of Allergy Asthma & Immunology (AAAAI), allergic rhinitis affects approximately 10-30% of the global population, thereby impacting the adoption of allergy therapeutics globally.

The increasing integration of technologically advanced products, such as the use of artificial intelligence technology to advance treatment outcomes and manage diseases, helps practitioners in the decision-making process. Furthermore, the rising adoption of mHealth apps for diagnosing allergies such as rhinitis is expected to boost the market. For instance, the MASK-Air app is dedicated specifically to allergic rhinitis.

Monoclonal antibodies are anticipated to contribute to the development of new therapies that eradicate specific allergy concerns, owing to their higher efficacy, long-term tolerability, and safety. Hence, key companies are developing novel & effective biologic-based therapies designed with target-specific mechanisms directed toward selective targets, especially monoclonal antibodies. In addition, consistent product approvals of highly significant monoclonal antibodies for allergy disorders are anticipated to expand the scope for growth.

New therapies such as anti-immunoglobulin E (IgE) antibodies, cytokine modulators, and DNA vaccinations are being used to treat allergic disorders. Omalizumab is a recombinant humanized IgG1 monoclonal anti-IgE antibody, which is used for treating allergic chronic urticaria and asthma. In April 2021, Genentech (Roche Group) announced that its prefilled syringe for self-injection has received FDA approval for Xolair (omalizumab) in the U.S. for chronic idiopathic urticaria allergic asthma, and nasal polyps.

The allergy diagnostics & therapeutics market is moderately competitive, with a strong presence of notable companies such as Merck & Co., Inc, Thermo Fisher Scientific, Inc., Abbott, and Pfizer, Inc. These players are undertaking various initiatives to increase their capabilities, expand their product portfolios, and improve their competencies.

Related Press Release@ Allergy Diagnostics And Therapeutics Market Report

Allergy Diagnostics And Therapuetics Market Report Highlights

The consumables product segment held the largest share in the allergy diagnostics & therapeutics market in 2022. The advent of products that include the MeDALL allergen-chip, which is linked with increased sensitivity, precision, and faster detection, is anticipated to encourage market growth
The drug allergies segment is expected to advance lucratively due to the increasing availability of treatment options and growing awareness about drug allergies among patients
In vitro tests accounted for the highest share in 2022 due to an increase in the incidence of allergies such as asthma, rhinitis, & allergic conjunctivitis, and a rise in demand for allergy testing globally
Epinephrine dominated the drug class segment in 2022. The introduction of cost-effective epinephrine autoinjectors by key companies is expected to significantly augment market growth
North America dominated the allergy diagnostics & therapeutics market in 2022, due to an increase in understanding of the high potential associated with allergy drugs. This has driven U.S.-based firms to make considerable investments in the development of these drugs
Asia Pacific is expected to witness considerable growth in the future owing to the rising incidences of asthma, chronic cough, and food allergies, among others, in the region

List of Key Players in Allergy Diagnostics And Therapuetics Market

R-Biopharm AG
Thermo Fisher Scientific, Inc.
DASIT Group SPA
EUROIMMUN Medizinische Labordiagnostika AG (PerkinElmer, Inc.)
AESKU.GROUP GmbH
bioMérieux
Siemens Healthcare GmbH
Stallergenes Greer
HYCOR Biomedical
Minaris Medical America, Inc.
Omega Diagnostics Group PLC
Lincoln Diagnostics, Inc.
HOB Biotech Group Corp., Ltd.
Danaher
Alcon
AbbVie, Inc.
Sanofi
Allergy Therapeutics
Pfizer, Inc.
Teva Pharmaceutical Industries Ltd.
GSK plc
Sun Pharmaceutical Industries Ltd
F. Hoffmann-La Roche Ltd.
Merck & Co., Inc.
Astellas Pharma Inc.
Epigenomics AG

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Allergy Diagnostics And Therapuetics Market Segmentation

Grand View Research has segmented the global allergy diagnostics & therapeutics market report on the basis of type, allergen type, test type, and region:

Allergy Diagnostics And Therapuetics Type Outlook (Revenue, USD Million, 2018 - 2030)

Diagnostics

Instruments
Consumables
Services

Therapeutics

Antihistamines
Decongestants
Corticosteroids
Mast Cell Stabilizers
Leukotriene Inhibitors
Nasal Anti-cholinergic
Immuno-modulators
Epinephrine
Immunotherapy

Allergy Diagnostics And Therapuetics Allergen Type Outlook (Revenue, USD Million, 2018 - 2030)

Food

Dairy Products
Poultry Product
Tree Nuts
Peanuts
Shellfish
Wheat
Soys
Other Food Allergens

Inhaled
Drug
Other Allergens

Allergy Diagnostics And Therapuetics Test Type Outlook (Revenue, USD Million, 2018 - 2030)

In vivo Test

Skin Prick Test
Intradermal Test
Patch Test

In vitro Test

Allergy Diagnostics And Therapuetics Regional Outlook (Revenue, USD Million, 2018- 2030)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Denmark
Sweden
Norway

Asia Pacific

Japan
China
India
Australia
South Korea
Thailand

Latin America

Brazil
Mexico
Argentina

Middle East and Africa (MEA)

South Africa
Saudi Arabia
UAE
Kuwait

Monday 22 January 2024

Animal Vaccines Market Size Worth $26.12 Billion By 2030

The global Animal Vaccines Market size is expected to reach USD 26.12 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.40% from 2023 to 2030. The growing incidence of food-borne zoonotic diseases and increasing animal husbandry are boosting the demand for vaccines. Certain transmissible diseases such as bird flu and tuberculosis in invertebrate animals can be transferred directly or indirectly to humans. If consumers eat worms via undercooked fish, they can get contaminated with anisakiasis, a human zoonotic infection caused by some species of nematodes.

The increasing outbreaks of cattle disease and the ever-expanding livestock population are the prime factors for the wide acceptance of the ruminants especially cattle vaccines globally. Moreover, rising pet ownership and increasing awareness regarding the health of companion animals are propelling the market growth. Moreover, the increasing number of R&D investments initiated by the companies is one of the key growth factors. Competition in the market is expected to be high during the forecast period. The market is highly fragmented owing to the presence of several small and large players. This results in high competition among small players to sustain their position in the market.

Moreover, companies are increasingly adopting strategies, such as mergers & acquisitions, geographic expansion, and the launch of new products, to grow in the market. For instance, in December 2020, Elanco acquired exclusive global rights from Kindred Biosciences to its monoclonal antibody for Canine Parvovirus (CPV) called KIND-030. This strengthened the company’s overall vaccine and therapeutics portfolios. Moreover, in September 2020, Ceva enhanced its production capacity at its French facility for bacterial autogenous vaccines. This is expected to support its growth strategy.

List of Key Players of Animal Vaccines Market

Zoetis
Ceva Santé Animale
Merck & Co., Inc.
Vetoquinol S.A.
Boehringer Ingelheim Gmbh
Elanco
Virbac
Heska
Dechra Pharmaceuticals Plc
Idexx Laboratories, Inc.
Norbrook Inc.

Related Press Release@ Animal Vaccines Market Report

Animal Vaccines Market Report Highlights

Based on product, attenuated live vaccines emerged as the largest segment in 2022 as a result of the benefits such as improved effectiveness and enhanced long-term prevention. The recombinant vaccine is expected to witness considerable growth during the forecast period. These vaccine formulations can avoid the need for adjuvants, increase the viability of the vaccine, and improve stability
The livestock animal type segment dominated the market in 2022. According to Elsevier, Inc., as of February 2020, in Bangladesh, the prevalence of foot and mouth diseases in cattle was 24.71%
By route of administration, the intranasal segment is expected to register the fastest growth rate of 10.0% over the projected period owing to its growing popularity
North America dominated the market in 2022. Constantly rising awareness regarding livestock health and increasing commercialization of livestock products are factors expected to drive the market in the region during the forecast period
In Asia Pacific, the market is projected to witness swift growth during the forecast period owing to the speedy adoption of animal vaccines for quality food products and better animal health
Market players are opting for numerous strategies such as partnerships and new product launches. For instance, in October 2021, CZ VACCINES launched a new conjunctival vaccine called B19 CZV Ocular, thus adding a new vaccine to its range of brucellosis vaccines

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Animal Vaccines Market Segmentation

Grand View Research has segmented the global animal vaccines market on the basis of product, animal type, route of administration, and region:

Animal Vaccines Product Outlook (Revenue, USD Million, 2017 - 2030)

Attenuated Live Vaccines
Inactivated Vaccines
Subunit Vaccines
DNA Vaccines
Recombinant Vaccines

Animal Vaccines Route of Administration Outlook (Revenue, USD Million, 2017 - 2030)

Subcutaneous
Intramuscular
Intranasal

Animal Vaccines Animal Type Outlook (Revenue, USD Million, 2017 - 2030)

Livestock

Poultry
Aqua
Ruminants
Swine

Companion

Canine
Feline
Others

Animal Vaccines Regional Outlook (Revenue, USD Million, 2017 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain

Asia Pacific

China
Japan
India
South Korea

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

South Africa
Saudi Arabia

Friday 19 January 2024

Ventricular Assist Device Market by Abiomed; Medtronic; Abbott; Berlin Heart; Cardiac Assist, Inc.; Jarvik Heart, Inc.

The global Ventricular Assist Device Market size is expected to reach USD 7.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.6% from 2021 to 2028. The rapidly growing global geriatric population is susceptible to chronic medical ailments such as diabetes, neurological disorders, cardiovascular diseases, stroke, and end-stage cardiac failure. The rising risks of organ failures and the growing demand for organ transplants due to these chronic ailments are contributing to the growth of the market for Ventricular Assist Devices (VADs). The development of innovative products and sophisticated miniature devices incorporated with features, such as infection control techniques, is expected to provide an impetus to the growth. The numerous benefits associated with the use of VADs, such as increased survival rate, durability, and functionality, are supporting the growing rate of adoption, and thereby boosting the market for VAD.

The growing rate of globalization, increasing pursual of unhealthy lifestyle habits, minimal physical activity, increased consumption of junk food and beverages, and tobacco and alcohol consumption if leading to the high global prevalence of cardiovascular diseases. The prevalence of rising cardiovascular diseases has been witnessed in developed countries of North America and Europe. Congenital heart diseases, heart failure, hypertension, ventricular septal defect, and stroke are among the major cardiovascular diseases. According to the CDC, in September 2020, nearly 6.7% or 18.2 million adults have critical congenital artery disease, and it has been estimated that approximately 2 in 10 adults aged 65 and below are likely to die from this disease.

In addition, the demand for VADs is primarily driven by the increasing prevalence of congenital heart disease, especially cyanotic congenital heart disease in adults. As per multiple population studies on heart failure and stroke, it has been recorded 65-70% of the cases are due to left ventricular systole dysfunction, which is boosting demand for ventricular assist devices. As per VAD procedure data it has been witnessed that hospitalization, in-hospital mortality, and hospital expenses have declined with the use of VAD. As per the American Heart Association estimates, U.S. annually spends USD 26 billion on heart failure patients.

Furthermore, technological advancements in the development of miniature devices with infection control technologies are expected to boost the growth of the market for VAD. The introduction of novel VADs for complex surgical procedures in the pediatric population is expected to support market growth over the forthcoming years. For instance, in 2011 the U.S. FDA approved the continuous-flow LVADs, Micromed HeartAssist 5TM Pediatric VAD, and the Berlin HeartTM EXCOR pediatric VAD, for pediatric patients. Berlin HeartTM EXCOR is approved for use as a bridge-to-transplantation device. The continuously evolving and innovating market of VADs is attracting investments for new product development.

Related Press Release@ Ventricular Assist Device Market Report

Ventricular Assist Device Market Report Highlights

The market for VADs is expected to witness significant growth over the forecast period owing to the increasing prevalence of cardiovascular diseases and shortage of transplant organs
The Left Ventricular Assist Devices (LVAD) product segment dominated the market in 2020 due to shortage of organ donors and increased demand of LVADs for the bridge to transplantation in end-stage heart failure patients
The non-pulsatile or continuous flow type segment dominated the market for VADs in 2020 due to the multiple mechanical benefits compared to pulsatile flow devices such as longer endurance, minimal noise, compact size, and simplicity
The implantable ventricular assist devices in the design segment dominated the market in 2020 due to increasing preference for long-term treatment methods and the growing development of innovative products
The destination therapy application segment dominated the market for VADs in 2020 due to the increasing incidence of end-stage heart failure and cardiovascular diseases

Ventricular Assist Device Market Segmentation

Grand View Research, Inc. has segmented the global ventricular assist device market on the basis of product, type of flow, application, design, and region:

VAD Product Outlook (Revenue, USD Million, 2016 - 2028)

Left Ventricular Assist Device
Right Ventricular Assist Device
Bi-Ventricular Assist Device
Total Artificial Heart

VAD Type Of Flow Outlook (Revenue, USD Million, 2016 - 2028)

Pulsatile Flow
Continuous Flow

VAD Application Outlook (Revenue, USD Million, 2016 - 2028)

Bridge to Transplant
Destination Therapy
Others (Bridge to Recovery, Bridge to Candidacy, and Others)

VAD Design Outlook (Revenue, USD Million, 2016 - 2028)

Implantable Ventricular Assist Device
Transcutaneous Ventricular Assist Device

VAD Regional Outlook (Revenue, USD Million, 2016 - 2028)

North America

U.S.
Canada

Europe

Germany
U.K.
Spain
Italy
France
Russia

Asia Pacific

Japan
China
India
Singapore
Australia
South Korea

Latin America

Brazil
Mexico
Argentina

South Africa
Saudi Arabia
UAE