How Has the Ranibizumab Market Size Evolved in Recent Years?
The ranibizumab market has seen considerable growth due to a variety of factors.
• The ranibizumab market has experienced consistent growth in recent years, expected to grow from $2.66 billion in 2024 to $2.78 billion in 2025, at a compound annual growth rate (CAGR) of 4.6%.
Growth drivers include the expansion of clinical trials in emerging markets, the rising prevalence of age-related macular degeneration (AMD), increased awareness of retinal diseases, the high incidence of diabetic retinopathy, government initiatives, and rising healthcare expenditures.
What Are The Predictions for The Ranibizumab Market in the Coming Years?
The ranibizumab market is expected to maintain its strong growth trajectory in upcoming years.
• The ranibizumab market is expected to reach $3.3 billion by 2029, growing at a CAGR of 4.3%.
Growth is driven by research, the introduction of biosimilars, combination therapies, teleophthalmology, and expanding indications. Key trends include advancements in biotechnology, personalized medicine, AI in ophthalmology, and longer-acting formulations.
Which Drivers Are Accelerating Growth In The Ranibizumab Market?
The escalating incidence of eye-related illnesses is anticipated to fuel the expansion of the ranibizumab market. This pertains to a broad spectrum of conditions that could potentially hamper eye health and vision. The surge in eye diseases can be attributed to aging demographics, lifestyle modifications, and a rise in chronic illnesses like diabetes. Ranibizumab is utilized to address conditions such as age-related macular degeneration and diabetic retinopathy, contributing to the mitigation of vision impairment given the escalating incidence of eye diseases. For instance, as per the World Health Organization (WHO), a Switzerland-based intergovernmental organization, in August 2023, around 2.2 billion individuals globally suffered from either near or distance vision impairment. Therefore, the escalating incidence of eye-related illnesses will stimulate the expansion of the ranibizumab market.
What Are The Core Segments Of The Global Ranibizumab Market?
The ranibizumab market covered in this report is segmented –
1) By Product: Single Use Prefilled Syringe, Single Use Glass Vial
2) By Application: Wet Age Related Macular Degeneration (AMD), Diabetic Retinopathy (DR), Diabetic Macular Edema (DME), Myopic Choroidal Neovascularization (MCNV), Retinal Vein Occlusion (RVO)
3) By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Other Distribution Channels
Subsegments:
1) By Single Use Prefilled Syringe: 0.3 Ml Syringe, 0.5 Ml Syringe, 1 Ml Syringe, Other Volume Variants
2) By Single Use Glass Vial: 0.5 Mg Or 0.05 Ml Vial, 1.0 Mg Or 0.1 Ml Vial, 2.0 Mg Or 0.2 Ml Vial, Other Volume Variants
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What Emerging Trends Are Influencing The Growth Of The Ranibizumab Market?
Leading players in the ranibizumab market are concentrating their efforts on developing cost-efficient solutions such as ranibizumab biosimilars, aiming to address and halt vision deterioration in those with retinal disorders. A ranibizumab biosimilar is a biological medicine that shares a high level of similarity with the original ranibizumab, though it's sold under another brand, offering an equally effective and safe but less expensive substitute. For example, in April 2024, Formycon AG, a biotechnology firm from Germany, and Bioeq AG, a biopharmaceutical company from Switzerland, unveiled the joint commercial deployment of FYB201, a Lucentis (Ranibizumab) biosimilar, in Canada and Switzerland. This introduction was made possible by the marketing permissions granted by Health Canada under the brand Ranopto and Swissmedic under the brand Ranivisio. FYB201 presents a fresh, high-grade, efficient, and budget-friendly remedy for individuals suffering from severe retinal diseases and has proven its worth as a financially sensible alternative for patients in the USA and different regions of Europe.
Who Are the Key Players In The Ranibizumab Market?
Major companies operating in the ranibizumab market are:
• F. Hoffmann-La Roche AG
• Bayer AG
• Novartis AG
• Teva Pharmaceutical Industries Ltd
• Regeneron Pharmaceuticals Inc.
• Biogen Inc
• Sun Pharmaceutical Industries Ltd.
• Stada Arzneimittel AG
• Genentech Inc.
• Dr Reddy's Laboratories Ltd
• Cipla Limited
• Samsung Biologics Co Ltd
• Lupin Limited
• Biocon Limited
• Celltrion Healthcare Co Ltd
• Glenmark Pharmaceuticals Limited
• Enzene Biosciences Ltd
• Coherus BioSciences Inc
• Amman Pharmaceutical Industries
• Formycon AG
• Intas Pharmaceuticals Ltd
• Alvotech
• Xbrane Biopharma AB
What Are The Regional Insights Into The Ranibizumab Market?
North America was the largest region in the ranibizumab market in 2024. The regions covered in the ranibizumab market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
