Market Insights
Autoimmune diseases are on the rise, and chronic inflammatory demyelinating polyneuropathy (CIDP) is no exception. Although CIDP is a rare disease, it has been growing in prevalence. Chronic inflammatory demyelinating polyneuropathy is a rare autoimmune disorder wherein the body's immune system attacks the myelin causing various symptoms such as numbness, weakness, and a lack of certain reflexes. Market Research Future has dedicated studied the market to its full extent for the forecast period between 2022and 2030. MRFR ascertains that the global chronic inflammatory demyelinating polyneuropathy market is due to register growth at a CAGR of 7.50%. This projection is likely to lead the market toward an upward trend and result in a market value of USD 6,577.10 Mn by the end of the assessment period in 2030.
Autoimmune diseases have been witnessed to be increasing in prevalence. According to the American Autoimmune Related Diseases Association, nearly 50 Mn Americas were recorded to have been suffering from autoimmune diseases in 2017. The cause of chronic inflammatory demyelinating polyneuropathy market overview has not yet been identified and can occur in any individual regardless of genetic makeup. This has directly resulted in an increase in research and development with regards to treatment. For the chronic inflammatory demyelinating polyneuropathy market, growth is expected to induced by the increasing R&D related to plasma-derived medicines. Most recently in 2017, this resulted in the FDA approval of a new immune globulin intravenous treatment of CIDP called Privigen. Moreover, the market is being supported by the increasing awareness regarding chronic inflammatory demyelinating polyneuropathy (CIDP). Increasing incidences of this diseases combined with government intervention to provide support to patients suffering from chronic inflammatory demyelinating polyneuropathy will drive market growth. Favorable reimbursement policies and involvements of non-profit organizations are among the various factors driving the market's growth.
The market faces a few challenges with regards to the high cost of intravenous immunoglobin (IVIG) treatment as well as the various side effects associated with IVIG treatment. Common side effects include migraines, mild fever, myalgia, and several others. However, due to the consistent R&D activities taking place, the market is likely to witness opportunities in the form of advancements in CIDP treatments. The growing prevalence of the disease has created a strong demand for effective medication and treatment options which display high opportunity potential for market players.
Market Segmentation
The market structure which has been determined by various components in MRFR's report has been segmented on the basis of treatment & diagnosis, route of administration, end-user, and region. Treatment and diagnosis of chronic inflammatory demyelinating polyneuropathy have been segmented into treatment and diagnosis. The treatment segment which holds the most significant share of the market is sub-segmented into corticosteroids, intravenous immunoglobin (IVIG), plasmapheresis (plasma exchange), physiotherapy, and others. The treatment segment is also growing at the highest CAGR of 6.32% during the review period due to rising demand for effective treatments for CIDP. Among the various sub-segments, the IVIG sub-segment has achieved a leadership status due to the preference for IVIG as the first line of treatment for CIDP.
Route of administration of chronic inflammatory demyelinating polyneuropathy medication has been segmented into oral, intravenous, and others. Due to the high preference for IVIG treatment which enters the bloodstream directly to react faster, the intravenous segment by route of administration has both acquired the largest share of the market and is growing at the highest CAGR during the forecast period. The intravenous segment accounts for 85% of the total market share, followed by oral and others.
End-users in the chronic inflammatory demyelinating polyneuropathy market have been segmented into specialty neurological clinics, hospitals, research & academic laboratories, and others. Hospitals have amassed a 49% share of the global market due to their widespread presence and the preference for hospitals among patients. However, patients are increasingly seeing the value in specialty clinics where they may understand their illness better. As a result, the specialty neurological clinics segment is growing at the most rapid CAGR of 6.49% during the review period.
Key Players
MRFR's study of the global chronic inflammatory demyelinating polyneuropathy includes identification and analysis of the various market participants competing in the global market. Prominent competitors include Kedrion S.p.A, Octapharma, CSL Behring, Pfizer, Inc, Shire, Mitsubishi Tanabe Pharma Corporation, Momenta Pharmaceuticals, Baxter, Bio Products Laboratory Ltd., Grifols, and Teijin Pharma Limited.
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Regional Analysis
The main geographies covered in MRFR's report include the Americas, Europe, Asia Pacific, and the Middle East & Africa. The global chronic inflammatory demyelinating polyneuropathy market has witnessed the highest presence in the Americas market. Possessing a share of 52% of the global market, the Americas have a leadership position in the market due to the presence of a significant pool of patients suffering from CIDP. Moreover, the strong presence of several leading players in the market is expected to reveal opportunities for growth. The chronic inflammatory demyelinating polyneuropathy disorder is highly difficult to diagnose as its symptoms can often be mistaken for other diseases or disorders. The Americas developed countries have a highly advanced healthcare system which makes the diagnosis of chronic inflammatory demyelinating polyneuropathy easier, thus supporting the regions market position.
Meanwhile, the Asia Pacific is being projected as the fastest growing regional chronic inflammatory demyelinating polyneuropathy market at a CAGR of 7.03% during the review period. The region has an increased availability of funds for research and development activities due to a growing focus on healthcare and healthcare reform. Moreover, the presence of significant expertise in the region is likely to encourage market growth in the coming years.
Notably, the Middle East and Africa market is also expected to grow at a significant pace due to the presence of emerging economies where the healthcare sector is developing swiftly. Middle Eastern countries, in particular, are anticipated to drive market growth.
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