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.
New York, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rituximab Biosimilars Global Market Report 2020-30: COVID-19 Growth and Change" - https://www.reportlinker.com/p05998724/?utm_source=GNW
H. Boehringer Sohn AG & Ko. KG, BioXpress Therapeutics SA and Intas Biopharmaceuticals Ltd.
The global rituximab biosimilars market is expected to decline from $1.84 billion in 2019 to $1.78 billion in 2020 at a compound annual growth rate (CAGR) of -3.22%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $2.62 billion in 2023 at a CAGR of 13.85%.
The rituximab biosimilars market consists of sales of rituximab biosimilars. Biosimilars are pharmaceuticals that are manufactured using cell lines and are similar to biologics. Rituximab biosimilars are used as a single agent or in combination with chemotherapy for the treatment of various diseases including chronic lymphocytic leukemia (CLL), non-Hodgkin lymphoma (NHL), microscopic polyangiitis (MPA), and granulomatosis with polyangiitis (GPA).
Europe was the largest region in the rituximab biosimilars market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The companies operating in the biosimilars market are continuously focusing on new product development in collaborations with other companies in the industry. Innovation through partnerships is 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 rituximab biosimilar market covered in this report is segmented by application into non-Hodgkin’s lymphoma; chronic lymphocytic leukemia; rheumatoid arthritis; others and by hospital pharmacy into hospital pharmacy; online pharmacy; retail pharmacy; other direct distribution channels.
The high cost associated with rituximab biosimilars acts as a major restraint for the growth of rituximab’s market over the coming 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 $6,109 and $484 to $6,267 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 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 (lymphocytes) that are part of the body’s immune system. In 2018, rituximab-abbs was approved as the first rituximab biosimilars for the treatment of patients with B-cell non-Hodgkin lymphoma (NHL) and adult patients with CD20-positive. According to the National Library of Medicine’s statistics, non-Hodgkin lymphoma (NHL) was ranked as 5th to 9th most common cancers in most of the countries, with approximately 5,10,000 new cases in 2018, globally. Moreover, according to the American Cancer Society, NHL is the most common cancer in the USA. About 77,240 people (34,860 females and 42,380 males) are estimated to be diagnosed with NHL by the end of 2020 in the USA. Thus, growing cases of non-Hodgkin’s lymphoma are predicted to generate high demand for rituximab biosimilars over the forecast period.
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