The global Guillain–Barré syndrome market was valued at US$ 454.0 Mn in 2016 and is expected to expand at a high CAGR of 5% from 2017 to 2025, to reach value of US$ 708.6 Mn by 2025, according to a new report published by Transparency Market Research
Wilmington, Delaware, United States, Transparency Market Research Inc.: The global Guillain–Barré syndrome market was valued at US$ 454.0 Mn in 2016 and is expected to expand at a high CAGR of 5% from 2017 to 2025, to reach value of US$ 708.6 Mn by 2025, according to a new report published by Transparency Market Research (TMR) titled “Guillain–Barré Syndrome Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025.” The report suggests that the growing prevalence of Guillain–Barré syndrome and rising rate of its diagnosis in developing countries is likely to drive the Guillain–Barré syndrome market from 2017 to 2025.
North America is projected to dominate the global Guillain–Barré syndrome market during the forecast period, followed by Asia Pacific. The market in the region is primarily driven by factors such as highly structured health care industry and availability of well-defined reimbursement policies for rare diseases from private and public health insurance firms. The market in North America is projected to witness moderate growth at a rate of more than 5% during the forecast period. Asia Pacific is estimated to be the rapidly expanding market for Guillain–Barré syndrome during the forecast period. The market in Asia Pacific is projected to witness significant growth at a rate of more than 6% during the forecast period. The market for Guillain–Barré syndrome in Latin America is likely to expand at a sluggish growth rate during the forecast period.
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Increasing Usage of IVIG in Off-label Indications and New Product Approvals to fuel Market
Intravenous immunoglobulins are used for the treatment of Guillain–Barré syndrome. IVIG products such as Gamunex, Gammagard/Kiovig, and Privigen are given in the dose of 0.4g/kg of body weight per day for five days. Treatment of Guillain-Barre syndrome by off-label use of intravenous immunoglobulins is increasing. This factor is expected to drive the market during the forecast period. Common off-label indications treated with intravenous immunoglobulins are Guillain-Barre syndrome, multifocal motor neuropathy, dermatomyositis, polymyositis, stiff person syndrome, and relapsing-remitting multiple sclerosis. Government initiatives to increase plasma yield as well as approvals by regulatory bodies for intravenous immunoglobulin (IVIG) products and indications augment the market. In October 2015, ProMetic Life Sciences, Inc. announced the U.S. FDA’s (Food & Drug Administration) clearance for the Investigational New Drug (IND) application for ProMetic's IVIG for the treatment of primary immunodeficiency diseases, thereby initiating the pivotal phase-III trial study.
Intravenous Immunoglobulins projected to be a highly lucrative Therapeutics Segment
Intravenous immunoglobulin (IVIG) is a treatment wherein the antibodies from donated blood are injected into the patient's vein. IVIG is extensively used due to its ease of administration and favorable side-effect profile. IVIG is administered in the dose of 0.4g/kg of body weight per day for five days. The use of intravenous immunoglobulins is advantageous over plasma exchange in the treatment of Guillain–Barré syndrome, due to superior safety profile of IVIG. The IVIG segment is expected to expand at a significant rate during the forecast period.
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Parenteral Route of Administration Segment leads the Guillain–Barré Syndrome Treatment Market
Immunoglobulins are administered through intravenous and subcutaneous routes of administration. Albumin used for plasma exchange in patients with Guillain–Barré syndrome is administered through the intravenous route of administration. Growth of the intravenous immunoglobulin segment can be attributed to rise in the consumption of IVIG for the treatment of Guillain–Barré syndrome. Increasing demand, better safety profile, and high cost of IVIG products are expected to boost the segment during the forecast period.
Hospital Pharmacies Segment estimated to register highest CAGR during the forecast period
Hospital pharmacies offers all drugs for patients along with products for surgery, specialty care products, pathological products, and 24-hour facility. Hospital pharmacies is the key distribution channel segment of the Guillain–Barré syndrome market. Growth of the hospital pharmacies segment can be attributed to increasing incidence of Guillain–Barré syndrome and rising number of admissions of patients with the disease. Clinical examination and supporting laboratory investigations for the diagnosis of Guillain–Barré syndrome are best possible in hospitals. Hence, the number of patients treated in hospitals is also increasing.
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North America projected to be a highly lucrative Market for Guillain–Barré Syndrome during the forecast period
The market in North America is primarily driven by factors such as highly structured health care industry and availability of well-defined reimbursement policies for rare diseases from private and public health insurance firms in the region. The U.S. holds a major share of the market in North America, owing to increasing adoption of high-cost IVIG products and growing awareness among end-users. In addition, a large number of players in the U.S. market are focusing on R&D activities to introduce new therapeutic products for the treatment of Guillain–Barré syndrome. The U.S. is an early adopter of innovative therapeutic products, as most new drugs are first launched in the U.S. market. This is likely to result in high growth of the market in the country in the next few years. Thus, established rules and regulations and major innovations in therapeutic products are expected to have a positive impact on the North America Guillain–Barré syndrome market in the near future.
Key Trend of High Investments in Research & Development of New Therapeutic Products for Rare Diseases
The global Guillain–Barré syndrome market is largely consolidated, with the dominance of top four players. Key players operating in the global Guillain–Barré syndrome market are Grifols S.A., CSL Behring LLC, Shire plc, Octapharma AG, Nihon Pharmaceutical Co., Ltd., Akari Therapeutics, PLC, China Biologic Products Holdings, Inc., Biotest AG, and Kedrion s.p.A. Major players are strongly focusing on research activities by increasing the investment.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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