Global Rituximab Biosimilars Market Report and Forecast 2023-2031

Global Rituximab Biosimilars Market Report and Forecast 2023-2031

Global Rituximab Biosimilars Market Outlook

The global rituximab biosimilars market size was valued at USD 2.05 billion in 2022 and is projected to grow at a CAGR of 15.7% during the forecast period of 2023-2031 to reach a value of USD 7.62 billion by 2031. The market growth can be attributed to the increasing prevalence of autoimmune diseases, cancer, and the rising demand for cost-effective alternatives to branded biologics.

Global Rituximab Biosimilars Market: Introduction

Rituximab biosimilars are biologic medications that are highly similar to the reference biologic product, Rituxan (rituximab). They are used to treat various autoimmune diseases and cancers, such as non-Hodgkin's lymphoma, chronic lymphocytic leukaemia, rheumatoid arthritis, granulomatosis with polyangiitis, and microscopic polyangiitis. The increasing prevalence of these conditions and the rising demand for cost-effective treatment alternatives to the original biologics are the primary drivers of the market growth. Additionally, the expiration of patents for the reference biologic has paved the way for the development and approval of biosimilars, further fuelling the growth of the rituximab biosimilars market.

Global Rituximab Biosimilars Market- Epidemiology

The prevalence of autoimmune diseases and cancers, for which rituximab is used as a treatment option, has been on the rise. According to the World Health Organization (WHO), non-Hodgkin's lymphoma accounts for around 3% of all cancer cases globally, with an estimated 509,590 new cases and 248,724 deaths in 2021. Chronic lymphocytic leukaemia is the most common type of leukaemia in adults, with an estimated 114,000 new cases in 2021. The incidence of rheumatoid arthritis is also significant, affecting around 1% of the global population. The growing prevalence of these diseases is driving the demand for effective and affordable treatment options, leading to the growth of the rituximab biosimilars market.

Rituximab Biosimilars Market Segmentations

The market can be segmented based on product type, indication, distribution channel, and region:

Market Breakup by Product Type

• Blitzima
• Rixathon
• Others

Market Breakup by Indication Type

• Non-Hodgkin’s Lymphoma
• Chronic Lymphocytic Leukaemia
• Rheumatoid Arthritis
• Others

Market Breakup by Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Market Breakup by Region

• North America
• United States of America
• Canada
• Europe
• United Kingdom
• Germany
• France
• Italy
• Others
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Australia
• Others
• Latin America
• Brazil
• Argentina
• Mexico
• Others
• Middle East and Africa
• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Rituximab Biosimilars Market Scenario

The market has experienced significant growth in recent years, driven by factors such as the increasing prevalence of autoimmune diseases and cancers, patent expirations of the reference biologic, and the rising demand for cost-effective treatment alternatives. North America is currently the largest market for rituximab biosimilars, accounting for a significant share of the global market. The region's large market share is driven by factors such as a high prevalence of diseases, well-established healthcare infrastructure, and strong investment in research and development.

Europe is also a significant market for rituximab biosimilars, with countries such as the UK, Germany, and France leading the way. The region's market growth is driven by factors such as a large patient base, increasing awareness of biosimilars, and government initiatives to promote the adoption of cost-effective treatment options. In addition, the region has a well-established healthcare system, which supports the delivery of rituximab biosimilars. Asia Pacific is another region experiencing significant growth in the rituximab biosimilars market. The region's market growth is driven by factors such as a large population base, increasing prevalence of diseases, and the growing adoption of biosimilars. In addition, government initiatives to improve healthcare access and affordability are helping to drive the growth of the market in the region.

Key Players in the Global Rituximab Biosimilars Market

The report provides a detailed analysis of the key players involved in the rituximab biosimilars market, including their business overview, product portfolio, recent developments, and financial analysis. Some of the major players operating in the market include:

• Innovent Biologics Inc
• Gedeon Richter Plc.
• BioXpress Therapeutics SA
• Teva Pharmaceutical Industries Ltd.
• Takeda Pharmaceutical Company Limited
• Sandoz International GmbH (Novartis)
• Zydus Lifesciences Ltd.
• Hetero Drugs Limited
• Dr Reddy's Laboratories Ltd
• Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
• Zenotech Laboratories
• Napp Pharmaceuticals Limited
• Mundipharma International Limited