Dublin, July 06, 2021 (GLOBE NEWSWIRE) -- The "Rituximab Biosimilars Global Market Opportunities and Strategies to 2030: COVID 19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
The rituximab biosimilar market reached a value of nearly $1,602.1 million in 2020, having increased at a compound annual growth rate (CAGR) of 67.9% since 2015.
The market is expected to grow from $1,602.1 million in 2020 to $3,474.2 million in 2025 at a rate of 16.7%. The market is then expected to grow at a CAGR of 10.5% from 2025 and reach $5,723.6 million in 2030.
Growth in the historic period resulted from government initiatives, increased healthcare expenditure, increase in biopharmaceutical R&D expenditure, low cost of biosimilars, and emerging markets growth. Factor that negatively affected growth in the historic period was effect of Covid-19, low number of drug approvals, and lack of awareness on biosimilars among primary care physicians and specialists.
Going forward, aging population, increase in healthcare access, and rising prevalence of chronic diseases, will drive the growth. Factors that could hinder the growth of the rituximab biosimilar market in the future include stringent regulations related to biosimilar approvals, and prolonged production and approval time.
The rituximab biosimilar market is segmented by application into non-hodgkin's lymphoma, chronic lymphocytic leukemia, rheumatoid arthritis, and others. The non-hodgkin's lymphoma was the largest segment of the rituximab biosimilar market segmented by application, accounting for 28.5% of the total in 2020. Going forward, the rheumatoid arthritis segment is expected to be the fastest growing segment in the rituximab biosimilar market segmented by application, at a CAGR of 18.3% during 2020-2025.
The rituximab biosimilar market is also segmented by distribution channel into hospital pharmacy, mail order and retail pharmacy. The hospital pharmacy was the largest segment of the rituximab biosimilar market segmented by distribution channel, accounting for 87.7% of the total in 2020. Going forward, the mail order segment is expected to be the fastest growing segment in the rituximab biosimilar market segmented by distribution channel, at a CAGR of 34.0% during 2020-2025.
North America was the largest region in the rituximab biosimilar market, accounting for 48.0% of the total in 2020. It was followed by Western Europe and Eastern Europe, and then the other regions. Going forward, the fastest-growing regions in the rituximab biosimilar market will be South America, and Asia Pacific, where growth will be at CAGRs of 36.7% and 29.2% respectively. These will be followed by North America, and Western Europe where the markets are expected to grow at CAGRs of 18.3% and 13.6% respectively.
The rituximab biosimilars market is expected to be negatively impacted due to the spread of COVID-19. Restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulted in operational challenges. The entire supply chain has been disrupted, impacting the market negatively.
Further, biopharmaceuticals and biosimilar manufacturers have shifted their resources towards finding a treatment for the coronavirus, which has delayed the production of new and existing rituximab biosimilar products. Some biosimilar developers have also entered their non-biosimilar products into the development stage in efforts to find a treatment for COVID-19. The development of some rituximab biosimilars in the pipeline are also halted as companies continue trying to develop biosimilars that can combat the virus.
The rituximab biosimilar market is highly concentrated, with a small number of large players dominating the market. The top five competitors in the market made up to 92% of the total market in 2019. Major players in the market include Teva Pharmaceuticals, Novartis AG, Pfizer, BIOCAD, and Shanghai Henlius Biotech, Inc.
The top opportunities in the rituximab biosimilar market segmented by application will arise in the non-hodgkin's lymphoma segment, which will gain $565.9 million of global annual sales by 2025. The top opportunities in segment by distribution channel will arise in the hospital pharmacy segment, which will gain $1,302.3 million of global annual sales by 2025. The rituximab biosimilar market size will gain the most in the USA at $896.2 million.
Key Topics Covered:
1. Rituximab Biosimilars Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6.1.1. Segmentation By Geography
6.1.2. Segmentation By Application
6.1.3. Segmentation By Distribution Channel
7. Rituximab Biosimilars Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By Application
7.2.1. Non-Hodgkin's Lymphoma
7.2.2. Chronic Lymphocytic Leukemia
7.2.3. Rheumatoid Arthritis
7.3. Market Segmentation By Distribution Channel
7.3.1. Retail Pharmacy
7.3.2. Hospital Pharmacy
7.3.3. Mail Order
8. Rituximab Biosimilars Market Trends and Strategies
8.1. Revised FDA Regulations To Facilitate Biosimilar Drug Development
8.2. Large Number Of Strategic Partnerships and Collaborations.
8.3. Robust Research & Development
9. Impact Of COVID-19 On The Rituximab Biosimilars Market
9.1. Impact On The Global Rituximab Biosimilars Market
9.2. How Leading Rituximab Biosimilars Companies Handled COVID
10. Global Rituximab Biosimilars Market Size and Growth
10.1. Market Size
10.2. Historic Market Growth, 2015 - 2020, Value ($ Million)
10.3. Forecast Market Growth, 2020 - 2025, 2030F, Value ($ Million)
11. Global Rituximab Biosimilars Market Segmentation
11.1. Global Rituximab Biosimilars Market, Segmentation By Application, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.1.1. Non-Hodgkin's Lymphoma
11.1.2. Chronic Lymphocytic Leukemia
11.1.3. Rheumatoid Arthritis
11.2. Global Rituximab Biosimilars Market, Segmentation By Distribution Channel, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.2.1. Hospital Pharmacy
11.2.2. Retail Pharmacies
11.2.3. Mail Order
12. Rituximab Biosimilars Market, Regional and Country Analysis
12.1. Global Rituximab Biosimilars Market, By Region, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12.2. Global Rituximab Biosimilars Market, By Country, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
Shanghai Henluis Biotech Inc.
Innovent Biologics, Inc
Hetero Drugs Limited
Dr Reddy's Laboratories
Shanghai Fosun Pharmaceutical(Group)Co., Ltd.
Reliance Life Sciences, India
NAPP Pharmaceuticals Limited
Mundipharma Deutschland GmbH & Co. KG
Hikma Pharmaceuticals plc
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