Middle East And Africa Immunoglobulin Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s study on the immunoglobulin market in the Middle East and Africa states that it is likely to show growth with a CAGR of 5.19% over the forecasting years 2022-2028. Saudi Arabia, Turkey, the United Arab Emirates, South Africa, and Rest of Middle East & Africa are evaluated in the market in this region.
In Saudi Arabia, the biotechnology and pharmaceutical industry’s growth and significant investments are boosting the immunoglobulin market. Also, the country is expected to grow substantially in the field of biotechnology, which is expected to drive its vaccine industry. For this, it invested $3.4 billion to achieve its goals towards pharmaceutical as well as health security in 2022. Further, the second phase of the investment is anticipated to focus on localizing immunological and cancer treatment technologies. Therefore, these initiatives are opening new avenues for the immunoglobulin market in this country.
An increasing number of product approvals and clinical trials were observed in the United Arab Emirates, which is expected to boost the demand for immunoglobulin. For instance, Sinopharm launched a COVID-19 drug clinical trial in 2021 after obtaining official authorization for the same. Moreover, the United Arab Emirates Ministry of Health and Prevention approved Sotrovimab, a human immunoglobulin G that can enable placental transfer from the mother to the fetus. Thus, all these developments across the country are likely to accelerate the growth of the immunoglobulin market.
COMPETITIVE OUTLOOK
Octapharma AG, ADMA Biologics, Bio Products Laboratory, Sichuan Yuanda Shuyang Pharmaceutical Co Ltd, Pfizer Inc, Sanquin Plasma Products BV, Shanghai RAAS Blood Products Co Ltd, and Kamada Ltd are the key players in the immunoglobulin market.
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