Wilmington, Delaware, United States: Chronic inflammatory demyelinating polyradiculoneuropathy is a rare type of autoimmune disease, in which the body’s immune system attacks the myelin sheaths
Wilmington, Delaware, United States: Chronic inflammatory demyelinating polyradiculoneuropathy (CIDP) is a rare type of autoimmune disease, in which the body’s immune system attacks the myelin sheaths
Myelin sheaths are the fatty coverings on the fibers that insulate and protect the nerves. Symptoms of chronic inflammatory demyelinating polyradiculoneuropathy (CIDP) ranges from loss of reflexes, loss of balance, loss of ability to work, loss of feelings in arms & legs to gradual weakening of arms & legs and tingling in arms and legs.
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Chronic inflammatory demyelinating polyradiculoneuropathy can occur at any age and in both genders. However, the frequency of incidence is higher in men than in women.
The rate of recovery of a patient depends on the early diagnosis of the disease. Most CIDP patients respond well to the treatment if it is provided at the early stage of onset of the disorder so that the damage to the peripheral nerves can be controlled, which contributes to the improved function and better quality of life for the patient.
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Key Drivers and Restraints of Global Chronic Inflammatory Demyelinating Polyradiculoneuropathy Market
- Rise in prevalence of chronic inflammatory demyelinating polyradiculoneuropathy coupled with improving diagnosis rate is the key driver of the global chronic inflammatory demyelinating polyradiculoneuropathy market
- According to the American Association of Neuromuscular & Electrodiagnostic Medicine, around 30,000 patients in the U.S. are affected by chronic inflammatory demyelinating polyradiculoneuropathy at any one time
- Increase in R&D activities and budget associated with the plasma-derived medicines also fuels the growth of the global chronic inflammatory demyelinating polyradiculoneuropathy market
- Extensive research and development activities with pipeline drugs drives the global chronic inflammatory demyelinating polyradiculoneuropathy market
- Moreover, rise in awareness among the population about CIPD and increase in government support through awareness programs and drug approvals are the other factors boosting the growth of the global chronic inflammatory demyelinating polyradiculoneuropathy market
- However, availability of limited treatment options hampers the growth of the global chronic inflammatory demyelinating polyradiculoneuropathy market
- High cost of treatment and adverse events associated with pharmacotherapy also restrain the global chronic inflammatory demyelinating polyradiculoneuropathy market
- Treatment Segment Dominated Global Chronic Inflammatory Demyelinating Polyradiculoneuropathy Market
- In terms of type, the global chronic inflammatory demyelinating polyradiculoneuropathy market can be bifurcated into diagnosis and treatment
- The treatment segment accounted for major market share in 2019 due to new product approvals, pipeline products, and better efficacy to treat the disorder. The segment can be split into corticosteroids, intravenous immunoglobulin, plasmapheresis, and others.
- The diagnosis segment can be segregated into nerve conduction, spinal fluid analysis, EMG, and others
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Specialty Clinics Segment to Witness Significant Growth
- In terms of end-user, the global chronic inflammatory demyelinating polyradiculoneuropathy market can be divided into hospitals, specialty clinics, and others
- The hospitals segment dominated the global market in 2019 due to higher patient admissions in hospitals for diagnosis & treatment and availability of diagnostic & treatment products
- Specialty clinics is likely to be a promising segment during the forecast period owing to patient preference for specialized treatment and well-equipped staff at these settings for better diagnosis & treatment
North America to Dominate Global Chronic Inflammatory Demyelinating Polyradiculoneuropathy Market
- In terms of region, the global chronic inflammatory demyelinating polyradiculoneuropathy market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, North America dominated the global chronic inflammatory demyelinating polyradiculoneuropathy market in 2019 owing to higher patient population suffering from CIDP, recent product approvals in the region, ongoing clinical trials for disease treatment, and presence of major companies in the region
- For instance, in March 2018, CSL Behring received approval from the U.S. Food and Drug Administration for Hizentra, which is a treatment specially designed for chronic inflammatory demyelinating polyneuropathy
- Asia Pacific is likely to be a highly lucrative market for chronic inflammatory demyelinating polyradiculoneuropathy during the forecast period. The market in the region is projected to expand at a high CAGR from 2020 to 2030 due to increase in awareness about the disease, rise in focus of major companies on untapped markets, improving health care infrastructure, and surge in R&D activities.
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Key Players Operating in Global Chronic Inflammatory Demyelinating Polyradiculoneuropathy Market
The global chronic inflammatory demyelinating polyradiculoneuropathy market was highly fragmented in 2019. Key players operating in the global market are:
- CSL Behring
- Baxter International, Inc.
- Teijin Pharma Limited
- Kedrion S.p.A.
- Octapharma AG
- Grifols, S.A.
- Pfizer, Inc.
- F. Hoffmann-La Roche Ltd.
- ImmuPharma plc
- AstraZeneca
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