Latin America Immunoglobulin Market 2022-2028
MARKET OUTLOOK
The Latin America immunoglobulin market is speculated to exhibit growth with a CAGR of 5.29% over the forecasting years 2022-2028, states a Triton Market Research report. Mexico, Brazil, and Rest of Latin America are assessed in the market in this region.
In Mexico, the immunoglobulin market’s growth is accelerating due to increasing government approvals, rising research & development activities, and new product launches. For instance, Mexico’s health regulator Cofepris allowed antibody treatment of Eli Lilly and Co against COVID-19 to treat comorbidities patients in emergency. This has significantly influenced other market players to tap innovation into the market through research & development activities. This is expected to bolster the growth of the studied market in the coming years.
The support from the Brazilian government and the deployment of strategic initiatives by market players have significantly aided in the development of immunoglobulin products. For instance, the Brazilian Health Regulatory Agency granted authorization for Celltrion Healthcare’s regdanvimab for emergency use. It is a monoclonal antibody treatment to treat patients with mild-to-moderate COVID-19. Likewise, in 2019, SK Plasma won a $20 million bid to supply LIV-Gamma, a human immunoglobulin, to the Brazil Ministry of Health. These factors are expected to promote the growth of the considered market over the forthcoming period.
COMPETITIVE OUTLOOK
The top players in the immunoglobulin market are China Biologic Products Inc, Octapharma AG, Kedrion Biopharma, CSL Behring, Pfizer Inc, Grifols SA, LFB Group, Sichuan Yuanda Shuyang Pharmaceutical Co Ltd, Takeda Pharmaceutical Company Limited, and Shanghai RAAS Blood Products Co Ltd.
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