Rituximab Biosimilars Global Market Report 2023

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Feb 13, 2023, 13:00 ET

NEW YORK, Feb. 13, 2023 /PRNewswire/ -- Major players in the rituximab biosimilars market are Pfizer Inc., Mylan Inc., Amgen Inc., Teva Pharmaceutical Industries Ltd., Celltrion Healthcare Co. Ltd., Sandoz International GmbH, Reliance Life Sciences, C.H. Boehringer Sohn AG & Ko. KG, BioXpress Therapeutics SA, and Intas Biopharmaceuticals Ltd.

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The global rituximab biosimilars market is expected to grow from $1.77 billion in 2021 to $2.05 billion in 2022 at a compound annual growth rate (CAGR) of 16.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The rituximab biosimilars market is expected to reach $3.42 billion in 2026 at a CAGR of 13.6%.

The rituximab biosimilar market consists of sales of mabthera, truxima, ruxience or rixathon.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Rituximab biosimilar refers to a chimeric monoclonal antibody that is directed against the immune system B cell-specific protein CD20. Rituximab kills B cells, making it useful for treating conditions where there are too many, too active, or otherwise abnormal B cells.

North America was the largest region in the rituximab biosimilars market in 2022.Middle East is expected to be the fargest growing region in 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 and Africa.

The main routes of administration in rituximab biosimilar are subcutaneous, intravenous, and molecular types.Intravenous therapy is a medical procedure in which fluids, drugs, and nutrients are delivered straight into a patient's vein.

The different applications include non-Hodgkin's lymphoma, chronic lymphocytic leukemia, rheumatoid arthritis, and others and are distributed through various channels such as hospital pharmacy, online pharmacy, retail pharmacy, and other direct distribution channels.

The rising prevalence of non-Hodgkin's lymphoma (NHL) is predicted to contribute to the growth of the rituximab biosimilars market.Non-Hodgkin's lymphoma or lymphoma is cancer that starts in white blood cells, and lymphocytes that are part of the body's immune system.

According to the American Cancer Society, NHL is the most common cancer in the USA accounting for about 4% of all cancers.About 81,560 people (45,630 males and 35,930 females) are diagnosed with NHL in 2021 in the USA.

Thus, growing cases of non-Hodgkin's lymphoma are predicted to generate high demand for rituximab biosimilars over the forecast period.

The high cost associated with rituximab biosimilars acts as a major restraint for the growth of rituximab's market over the upcoming years.The cost of the subcutaneous option was costlier than IV biosimilar rituximab.

The cost of subcutaneous formulation for patients with small body size is between $3,805 and $8,807 and for medium body size between $325 to $6109 and $484 to $6267 for 2 infusion speeds. The high costs of rituximab biosimilars make it unaffordable for the treatment of patients with low income, hindering the growth of the market.

The companies operating in the biosimilars are continuously focusing on new product development in collaborations with other companies operating in the industry.Innovations through partnerships are shaping the rituximab biosimilars market.

For instance, in May 2020, Teva Pharmaceutical Industries Ltd. and Celltrion Healthcare Co. Ltd together announced the launch of biosimilar Truxima (rituximab-abbs) injection in the USA for the treatment of polyangiitis and rheumatoid arthritis. Truxima is the only biosimilar to Roche's Rituxan (rituximab) available in the USA for the treatment of rheumatoid arthritis.

The countries covered in the rituximab biosimilars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The rituximab biosimilars market research report is one of a series of new reports that provides rituximab biosimilars market statistics, including rituximab biosimilars industry global market size, regional shares, competitors with a rituximab biosimilars market share, detailed rituximab biosimilars market segments, market trends and opportunities, and any further data you may need to thrive in the rituximab biosimilars industry. This rituximab biosimilars market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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