In response to the rising incidence of antibody diseases, Transparency Market Research (TMR) forecasts the global primary immunodeficiency market to surge at 6.1% CAGR between 2015 and 2023. Developed regions such as Europe and North America are predominantly contributing to the growth witnessed by this market. The consistent approval of novel therapeutic options for primary immunodeficiency diseases (PIDD) and extensive research and development investments by key players are likely to bolster opportunities for the market in the forthcoming years.
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On the flip side, the absence of proper reimbursement and high cost of therapies will inhibit the market’s growth trajectory to an extent. Nevertheless, with favorable government policies and funding for research and development in biopharma and pharmaceuticals, growth prospects for the market seem quite promising.
TMR expects the global PIDD market to reach US$7.5 bn by the end of 2023, from a valuation of US$4.3 bn in 2014.
Growing Awareness Regarding PIDD to Drive Demand
The global primary immunodeficiency diseases market is driven by government approvals and support. The awareness created about PIDD by various government and private organizations will also aid the growth of this market. The demand will witness a positive rise in both developed and developing countries. Unmet medical needs in emerging nations will act as growth opportunity for primary immunodeficiency diseases market, states TMR. Recently many policies have been undertaken by governments across developing countries which work in the favor of this market’s growth. Also, favorable health trends in Asia Pacific will boost the growth of this market.
Undetected Cases due to Inadequate Provision for Diagnosis of PIDD to Pose a Key Challenge
Inadequate and unfavorable reimbursement policies in many nations will hamper the growth of the global primary immunodeficiency diseases market. The absence of adequate provision for diagnosis of PIDD among newborns will restrict the growth of this market. Many cases go undetected in developing nations. “Of the 10 mn people who actually suffer from primary immunodeficiency diseases, thousands of adult cases also go undiagnosed, acting as a major challenge for the growth of this market,” states a TMR analyst.