Japan Intravenous Immunoglobulin for Myasthenia Gravis Market
Japan Intravenous Immunoglobulin for Myasthenia Gravis Market - By End-User (Hospital, Clinics and Home care) - Market Size, Trends, Share & Forecast 2020-2025Request Sample Request Discount
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Rising Prevalence of Myasthenia Gravis in Japan is Likely to Foster the Japan Intravenous Immunoglobulin for Myasthenia Gravis Market at 7.4% CAGR during 2020 & 2025.
Japan intravenous immunoglobulin for myasthenia gravis market registering a compound annual growth rate (CAGR) of 7.5% between 2020 and 2025. The number of patients with late-onset myasthenia gravis (MG) ≥50 years has been increasing recently. This factor is anticipated to impel the growth of Japan intravenous immunoglobulin for myasthenia gravis market during the forecast period.
Rising Prevalence of Myasthenia Gravis
The rise in the prevalence of myasthenia gravis in Japan is envisioned to bolster the growth of the market during the forecast period. In Japan, the estimated number of patients with myasthenia gravis in 2006 was 15,100; giving a prevalence of 11.8 per 1,00,000 persons. Further, number of patients and prevalence rate has witnessed increase in the past few years. This factor is envisioned to bolster the growth of the market in the years ahead.
Growth in Diagnosis of Myasthenia Gravis
Rising diagnosis of myasthenia gravis patients in Japan is driving the demand for intravenous immunoglobulin. Moreover, the market stands to benefit from growing investments and development of specific tests for the diagnosis of myasthenia gravis. Furthermore, pending new approvals in disease indications is believed to positively impact the growth of the market.
Launch of New & Improved Version of Drugs
Factor such as strong pipeline, increased focus on R&D, raising awareness and adoption of novel therapies are driving the growth of Japan intravenous immunoglobulin market for myasthenia gravis. Various pharmaceutical firms are engaged in extensive research and development activities for efficient therapeutics for myasthenia gravis diseases. Furthermore, various clinical trials are being carried which is expected to bring advanced therapeutics for the people.
Barriers in Japan IVIG in Myasthenia Gravis Market
Increasing Cost of IVIG
Continuous increase in the price of IVIG per/gram is one of the major factors which are hindering the growth of the Japan intravenous immunoglobulin for myasthenia gravis Market. Since 2011, the price of intravenous immunoglobulin has increased to about 100%. Further, it is believed that increasing cost of IVIG might will result in weak demand for the short term.
Less Awareness of Myasthenia Gravis
Low awareness regarding symptoms of myasthenia gravis is another factor which is negatively impacting the growth of Japan intravenous immunoglobulin for myasthenia gravis market in the short term. However, government and various organizations are working to increase awareness of myasthenia gravis within key communities including patients, caregivers, medical professionals, and the general public.
In terms of value, Japan intravenous immunoglobulin for myasthenia gravis is expected to reach USD 29.7 Million by the end of 2025 from USD 19.4 Million in 2018. Further, Japan intravenous immunoglobulin for myasthenia gravis market is anticipated to flourish at a CAGR of 7.5% over the forecast period.
In terms of volume, the market is expected to account for 378.6 KG in 2025 from 277.1 KG in 2018. A rising number of myasthenia gravis patients is the primary growth driver of the market. Moreover, factors such as high health expenditure, aging population, and robust healthcare infrastructure are believed to underpin the growth of intravenous immunoglobulin market during the forecast period i.e. 2020-2025. According to OECD data on healthcare expenditure, Japan ranks third in the world. Further, healthcare expenditure is anticipated to increase in the years ahead on the account of surge in old age population.
The key players profiled in the report include CSL Behring, Pfizer Inc., Grifols, Baxter, Takeda Pharmaceutical Company Limited and others. Pharmaceutical companies are actively engaged in the acquisition of various targeted companies in order to expand their capabilities of pharmaceutical, and biotech. For instance, in January 2020, Takeda completed the acquisition of Shire, becoming a global and R&D-driven biopharmaceutical leader headquartered in Japan. Various industry players are engaged in trials and development of novel therapeutics using antibody engineering technology. For instance, Momenta Pharmaceuticals is working on the development of M281, M230, M254, and Affinity. Further, clinical trials of M281 (Anti-FcRn Antibody) suggested that removal of autoantibodies may lead to improvement of symptoms in some autoimmune indications.
Market Segmentation Analysis:
By End User
This market research report analyses the Japan intravenous immunoglobin for myasthenia gravis in adults. The report includes analysis by end user. The end user segment includes hospital, clinics and home care.
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