Market Research Report
Investigation Report on China's Ibrutinib Market 2021-2025
|Published by||China Research and Intelligence||Product code||1002603|
|Published||Content info||40 Pages
Delivery time: 1-2 business days
|Investigation Report on China's Ibrutinib Market 2021-2025|
|Published: April 23, 2021||Content info: 40 Pages||
Ibrutinib is a BTK inhibitor, mainly used to treat B-cell carcinomas, such as mantle cell lymphoma, chronic lymphocytic leukemia, and Waldenstrom's macroglobulinemia. Ibrutinib was first developed by Johnson & Johnson and Pharmacyclics Inc. Pharmacyclics Inc was acquired by AbbVie in 2015. Their Ibrutinib, IMBRUVICA was launched in China in 2017. By 2020, Pharmacyclics Inc is the only manufacturer in the Chinese Ibrutinib market.
According to CRI's market research, after Ibrutinib entered the Chinese market, the sales value of Ibrutinib in China has increased from CNY48,600 in 2017 to CNY 345.5 million in 2020. In 2020, the growth rate was 38.2%, which slowed down due to the COVID-19 epidemic. The CAGR of sales value of Ibrutinib in China is 1823% in 2017 to 2020%.
CRI analyzes that as the epidemic situation has been improved and the hospitals resume their operation, the sales of Ibrutinib will have a recovery growth from 2021 to 2025. Besides, the sales will also increase due to price reduction and market expansion. Currently, Ibrutinib has three approved indications. In 2020, the latest approved indication was included in the national medical insurance catalog, while the other two had been included in the catalog in 2018. As all indications can take advantage of the insurance reimbursement, the usage rate of Ibrutinib will increase among the patients. Moreover, with the emergence of other BTK inhibitor drugs, the price of Ibrutinib may continue to decrease, which will lead to a rise in sales. On the other hand, China approves fewer indications for Ibrutinib than other countries do. Therefore, the number of approved indications has the potential to increase, which means the market will keep expanding in the future.