What Has Been The Historical And Current Growth Of The Rituximab Biosimilars Market?
The rituximab biosimilars market has seen considerable growth due to a variety of factors.
• In recent years, there has been a swift expansion in the rituximab biosimilars market. It's projected that its worth will escalate from $3.03 billion in 2024 to $3.47 billion in 2025, marking a compound annual growth rate (CAGR) of 14.8%.
The past growth trend has been credited to government actions, escalating healthcare spending, augmentation in R&D expenditures for biopharmaceuticals, affordability of biosimilars, and the growth of emerging markets.
What are the Forecasted Growth and Key Factors of the Rituximab Biosimilars Market?
The rituximab biosimilars market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for rituximab biosimilars is anticipated to undergo substantial growth, reaching $5.18 billion in 2029, with a 10.5% compound annual growth rate (CAGR).
The expected growth in this forecast period is a result of numerous factors such as the aging demographic, enhanced access to healthcare, and increasing occurrences of chronic illnesses. Some of the significant trends during the forecast period comprise taking advantage of updated FDA rules for biosimilar drug development, forming tactical partnerships and alliances with key players to broaden their research and development operations in novel drug developments, and substantial investment in R&D activities for the production of efficient and original biosimilars.
What Are The Key Drivers Fueling Growth In The Rituximab Biosimilars Market?
The increasing incidence of non-Hodgkin's lymphoma (NHL), a type of cancer that originates from white blood cells or lymphocytes, is expected to stimulate the expansion of the rituximab biosimilars market. To illustrate, the American Cancer Society, a cancer advocacy body based in the US, projects that around 80,620 individuals (44,590 men and 36,030 women) will be diagnosed with non-Hodgkin's lymphoma in 2024, with estimated fatalities of approximately 20,140 (11,780 men and 8,360 women). The odds of developing this cancer throughout their lifetime are reported to be about 1 in 42 for men and 1 in 52 for women. Therefore, the surging numbers of non-Hodgkin's lymphoma cases are anticipated to stimulate high demand for rituximab biosimilars for the foreseeable future.
How Is the Rituximab Biosimilars Market segmented?
The rituximab biosimilars market covered in this report is segmented –
1) By Route Of Administration: Subcutaneous, Intravenous, Molecular Type
2) By Application: Non-Hodgkin's Lymphoma, Chronic Lymphocytic Leukemia, Rheumatoid Arthritis, Other Applications
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Mail Order
Subsegments:
1) By Subcutaneous: Pre-filled Syringes, Injection Pens
2) By Intravenous: IV Infusion Solutions, IV Push Formulations
3) By Molecular Type: Monoclonal Antibodies, Antibody-Drug Conjugates (ADCs)
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What New Trends Are Influencing the Rituximab Biosimilars Market?
Continual focus on new product development by companies operating in the biosimilars industry in synchrony with their industry counterparts is transforming the rituximab biosimilars market. This transformation is primarily driven by innovative collaborations, as seen when Dr. Reddy's Laboratories joined forces with Fresenius Kabi in July 2023 to bring their prospective rituximab biosimilar to market in the US. Their goal is to provide a more economical and readily accessible treatment alternative for patients. Offering a biosimilar rituximab version in the US has the potential to improve patient accessibility to this crucial treatment for various conditions, like rheumatoid arthritis, non-Hodgkin's lymphoma, chronic lymphocytic leukemia, pemphigus vulgaris, granulomatosis with polyangiitis, and microscopic polyangiitis.
Who Are the Key Players in the Rituximab Biosimilars Market?
Major companies operating in the rituximab biosimilars market include:
• Novartis AG
• Pfizer
• BIOCAD
• Shanghai Henlius Biotech Inc.
• Innovent Biologics Inc.
• Sinocelltech
• Cadila Pharmaceuticals
• Hetero Drugs Limited
• Dr. Reddy’s Laboratories
• Shanghai Fosun Pharmaceutical (Group) Co. Ltd.
• Reliance Life Sciences India
• Zenotech Laboratories
• NAPP Pharmaceuticals Limited
• Mundipharma Deutschland GmbH & Co. KG
• Celltrion
• Biocad
• MABION S.A.
• Janssen Pharmaceutical
• Amgen
• Teva Pharmaceuticals
• Celltrion Healthcare
• Coherus BioSciences
• Aryogen Biopharma
• TR-Pharm
• Hikma Pharmaceuticals plc.
What Is The Most Dominant Region In The Rituximab Biosimilars Market?
North America was the largest region in the rituximab biosimilars market in 2024. Middle East is expected to be the fastest-growing region in the rituximab biosimilars market report during the forecast period. The regions covered in the rituximab biosimilars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
