Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) Market Increasing Rapidly: Covid-19 Impacts, Industry Opportunity, Analysis and Forecast
Market Insights
Market Research Future stated that the global chronic inflammatory demyelinating polyneuropathy market is set to the cross the mark of USD 3907.17 million during the forecast period, 2015-2023.
The prevalence of autoimmune diseases has increased dramatically, paving the way for the growth of the global market for chronic inflammatory demyelinating polyneuropathy (CIDP). The increasing incidence of CIDP is a major concern in the medical sector, especially in developed countries. Several public and private organizations launched initiatives for R&D activities that produced positive results in the area of CIDP. Remarkable results have been achieved through rigorous research and development efforts and clinical trials. Several new drugs are introduced following recent FDA approvals, which also spur growth of the global chronic inflammatory demyelinating polyneuropathy market.
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Segmentation
The global market is diversified on the basis of the route of administration, treatment and diagnosis, and end-user.
The global chronic inflammatory demyelinating polyneuropathy market is divided into treatment and diagnoses. The treatment segment with the largest market share is further segmented into corticosteroids, plasma fermentation, intravenous immunoglobulin (IVIg), The global market is diversified on the basis of the route of administration, treatment, and diagnosis, and end-user.
The global chronic inflammatory demyelinating polyneuropathy market is divided into treatment and diagnoses. The treatment segment with the largest market share is further segmented into corticosteroids, plasma fermentation, physiotherapy, intravenous immunoglobulin (IVIg), plasmapheresis (plasma exchange), and others. The treatment segment also saw CAGR growth by 6.32% in the period due to growing demand for effective CIDP treatments. Of the different sub-segments, the IVIG sub-segment has achieved leadership status due to its preference for IVIg as a first-line treatment method for CIDP.
On the basis of the route of administration, the chronic inflammatory demyelinating polyneuropathy market is classified into intravenously and orally. Due to the strong preference for IVIG treatment that penetrates directly into the blood to respond more rapidly, the intravenous route segment is expected to gain the largest market share and highest annual growth over the forecast period. The intravenous solutions segment represents 85% of total market share, followed by oral and other treatments.
Based on end-users of the chronic inflammatory demyelination market for polyneuropathy is subdivided into specialized neurological clinics, research laboratories, hospitals, and academics, and others. Hospitals have gained a 49% share of the global market due to their wide presence and preference for hospitals. However, patients are progressively seeing the value of specialist clinics where they can better know their disease. As a result, the segment of specialized neurological clinics had the fastest CAGR growth of 6.49% during the period considered.
Regional Outlook
The global market for chronic inflammatory demyelinating polyneuropathy has the largest market presence in North and South America. With a 52% market share of the global market, the Americas are market leaders, thanks to the presence of a large group of patients with CIDP. In addition, the strong presence of several major players in the market should reveal growth opportunities. The developed countries of Americas have sophisticated healthcare system that allows the diagnosis of chronic inflammatory demyelinating polyneuropathy, thus supporting the region's market position.
The Asia Pacific region is predicted to be the fastest-growing regional market for the fastest growing chronic inflammatory demyelinating polyneuropathy, with a CAGR of 7.03% over the reporting period. The region is heavily investing in research and development due to growing attention to healthcare reform. In addition, the presence of considerable medical experts in the region is expected to promote market growth in the coming years.
The Middle East and Africa markets are predicted to see significant growth due to the presence of emerging economies in which the healthcare sector is growing rapidly. Middle Eastern countries should stimulate market growth.
Market Participants
Some of the well-established market players in the global chronic inflammatory demyelinating polyneuropathy market include Bio Products Laboratory Ltd., Momenta Pharmaceuticals, Grifols, Baxter, Kedrion S.p.A, Octapharma, Shire, Mitsubishi Tanabe Pharma Corporation, CSL Behring, Teijin Pharma Limited, Pfizer, Inc
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