Rituximab Market: Current Analysis and Forecast (2023-2030)

Rituximab Market: Current Analysis and Forecast (2023-2030)

Rituximab is a type of antibody therapy that can be used in combination with chemotherapy or alone to target cancer cells by attaching to the CD20 protein found on the surface of blood cells with cancer and some healthy blood cells. It can be used to treat non-Hodgkin's lymphoma, chronic lymphocytic leukemia, and other blood vessel diseases such as granulomatosis with polyangiitis and microscopic polyangiitis by slowing or stopping the growth of cancer cells and decreasing joint pain and swelling.

The Rituximab Market is expected to grow at a strong CAGR of 16% during the forecast period owing to the rising prevalence of non-hodgkin lymphoma. In the US, non-Hodgkin lymphoma (NHL) is a relatively common cancer that affects approximately 4% of all cancer cases. As of March 2022, the American Cancer Society estimates that approximately 80,470 people, including both adults and children, will be diagnosed with NHL. The lifetime risk of developing NHL is estimated to be 1 in 42 for men and 1 in 52 for women, indicating that the growth of the target population is likely to contribute to a growth.

• Based on the route of administration, the market is segmented into subcutaneous, intravenous, and parenteral. The intravenous (IV) category held a significant share of the market in 2022 as IV rituximab is administered through a vein, making it a quick and efficient way to deliver the drug to the patient's body. Moreover, IV rituximab is absorbed into the bloodstream quickly, allowing it to begin working faster than other forms of rituximab. Thus, these factors are driving the growth of the segment in the forecast period.
• By application, the market is categorized into non-hodgkin lymphoma, chronic lymphocytic leukemia, rheumatoid arthritis, and others. The non-hodgkin lymphoma is anticipated to grow with significant CAGR during the forecast period. According to the World Health Organization, an estimated 5,000,000 new cases of non-Hodgkin's lymphoma (NHL) were diagnosed in 2020. In the United States, NHL accounts for nearly 4% of all cancer cases. The rising incidence of NHL is expected to drive significant demand for rituximab biosimilars in the market over the forecast period.
• Based on distribution channel, the market is segmented into hospital pharmacy, online pharmacy, and others. The hospital pharmacy held a dominant share of the market in 2022 owing to the increasing patient population, and growing focus on patient safety. Moreover, as the number of prescriptions filled by hospitals continues to rise, so too will the demand for hospital pharmacies to manage and dispense these medications, thus having a positive impact on the segmental growth.
• For a better understanding of the market adoption of the rituximab industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held the dominant share of the market and is expected to do so even in the forecast period. The healthcare facilities in North America are of the highest standards and are accessible to the large population because of favorable policies making healthcare affordable to many if not all. Moreover, the increasing incidence of non-hodgkin lymphoma cases among the population, the aging population, technological advancements, and increasing healthcare spending in several developed nations of North America region are the major factors driving the growth of the market.
• Some of the major players operating in the market include Pfizer Inc.; Amgen Inc.; Viatris Inc.; F. Hoffmann-La Roche ; Dr. Reddy’s Laboratories Ltd.; Zydus Group; Novartis AG; Teva Pharmaceutical Industries Ltd.; Hetero; and BioXpress Therapeutics SA.

The Rituximab market was valued at USD 3265 Million and is expected to grow at a strong CAGR of around 16% during the forecast period (2023-2030). The market is growing with the rise in the number of biosimilar available in the market. Biosimilars are generic versions of biologics that have passed their patent expiration date. Currently, a wide range of biosimilars for Rituxan has been approved by the regulatory bodies which have shown promising adoption among the patients owing to their cost efficacy in comparison to the branded drugs. Apart from this, several biosimilars are also present in clinical trials, which are expected to enter the market in the forthcoming years. For instance, in January 2023, Dr Reddy's Laboratories announced that it has successfully completed the full set of clinical studies of its proposed rituximab biosimilar candidate, 'DRL_RI' for filing in highly regulated markets such as the US, Europe and other regions.

Some of the major players operating in the Pfizer Inc.; Amgen Inc.; Viatris Inc.; F. Hoffmann-La Roche; Dr. Reddy’s Laboratories Ltd.; Zydus Group; Novartis AG; Teva Pharmaceutical Industries Ltd.; Hetero; and BioXpress Therapeutics SA. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst route of administration, the parenteral segment to grow with high CAGR during the forecast period”

Based on the route of administration, the market is segmented into subcutaneous, intravenous, and parenteral. The parenteral category is anticipated to grow with significant CAGR during the forecast period as parenteral rituximab is designed to remain in the body for a longer period of time, potentially providing longer-lasting treatment. Moreover, parenteral rituximab can be stored at room temperature, making it easier to transport and administer in remote or resource-limited settings.

“Amongst application, the rheumatoid arthritis category held a significant share of the market in 2022”

By application, the market is categorized into non-Hodgkin lymphoma, chronic lymphocytic leukemia, rheumatoid arthritis, and others. The rheumatoid arthritis held a significant share of the market in 2022, due to the surge in the prevalence of rheumatoid arthritis globally. Furthermore, a rising number of research studies regarding the use of rituximab in the management of RA is also positively impacting market growth. For instance, in a real-world study, patients with rheumatoid arthritis (RA) who were either new to rituximab therapy or switched from another brand of the medication had positive treatment outcomes and high retention rates with the biosimilar, GP2013 (Rixathon; Sandoz).

“Amongst distribution channel, the online pharmacy to grow with high CAGR during the forecast period”

Based on distribution channel, the market is segmented into hospital pharmacy, online pharmacy, and others. The online pharmacy is growing with a significant CAGR during the forecast period as it provides consumers to purchase pharmaceuticals from authorized distributors and well-organized e-commerce platforms. This service mitigates the issues of buying poor and counterfeit products from illegal distributors. Further, increasing penetration of internet of things and rising awareness among individuals is also driving the segmental growth during the forthcoming years.

“Asia Pacific to grow with high CAGR during the forecast period”

The Asia Pacific is anticipated to grow rapidly in the upcoming years owing to the surge in the prevalence of non-Hodgkin lymphoma and the encouraging response of rituximab in its management. For instance, according to WHO, around 33,00 NHL cases were diagnosed in Japan in 2020. Furthermore, domestic companies are actively investing in the development of rituximab biosimilars, thus driving the growth of the market. For instance, in January 2023, Dr. Reddy’s announced the completion of clinical studies of rituximab biosimilar candidate, which is expected to gain approval in the coming years.

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