PUBLISHER: The Business Research Company | PRODUCT CODE: 1426451
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426451
Ibrutinib is a small-molecule anti-cancer drug that hinders B-cell proliferation and survival by binding irreversibly to the protein Bruton's tyrosine kinase (BTK). This oral medication may require adjustments based on the patient's response and any encountered side effects.
Ibrutinib is available in two primary forms, capsules and tablets. Capsules are defined as small gelatinous cases containing medicine, often offering a more convenient ingestion method compared to tablets. These formulations are distributed through various channels, including hospital pharmacies, retail pharmacies, and online pharmacies, catering to multiple applications such as chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and others. The diverse settings where Ibrutinib is utilized encompass hospitals, clinics, specialty centers, and ambulatory surgical centers.
The Ibrutinib market research report is one of a series of new reports from The Business Research Company that provides Ibrutinib market statistics, including Ibrutinib industry global market size, regional shares, competitors with an Ibrutinib market share, detailed Ibrutinib market segments, market trends and opportunities, and any further data you may need to thrive in the Ibrutinib industry. This Ibrutinib market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The ibrutinib market size has grown exponentially in recent years. It will grow from $14.87 billion in 2023 to $18.29 billion in 2024 at a compound annual growth rate (CAGR) of 23.0%. The growth observed during the historical period can be credited to FDA approval and regulatory milestones, success in clinical trials, a heightened understanding of the B-cell receptor pathway, expanded indications, and increased adoption by physicians.
The ibrutinib market size is expected to see exponential growth in the next few years. It will grow to $41.98 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%. The anticipated growth in the forecast period can be attributed to potential label expansions, the expansion of the global market, increased competition from biosimilars, and the adoption of patient-centric healthcare models. Major trends expected during the forecast period encompass expanded indications and clinical trials, the dynamics of the competitive landscape and market entry, development in biosimilars and generics, health technology assessment, and market access, as well as the utilization of real-world evidence and the establishment of long-term safety profiles.
The projected rise in lymphoma cases is anticipated to drive the expansion of the ibrutinib market in the foreseeable future. Lymphoma, a cancer originating from lymphocytes, the immune system's infection-fighting cells, occurs when there is abnormal growth in these white blood cells crucial for the immune response. Ibrutinib is employed in treating lymphoma, specifically B-cell malignancies, by inhibiting tyrosine kinase enzymes that transmit growth signals in cells. For example, as of September 2022, Cancer Australia reported 7,397 diagnosed lymphoma cases in 2022, with the number of deaths from lymphoma in Australia increasing to 1,766, compared to 1,679 deaths in 2020. Consequently, the escalating incidence of lymphoma is a key factor propelling the growth of the ibrutinib market.
Government initiatives aimed at enhancing cancer care and treatment are expected to contribute to the growth of the ibrutinib market. These initiatives encompass policies, funding, and programs implemented by governments to improve the accessibility, affordability, and quality of care for cancer patients. Enhanced access to Ibrutinib, a groundbreaking cancer treatment, is facilitated through subsidized programs and research funding, ultimately improving patient care and outcomes. For instance, as of September 2023, the US government's revival of the Cancer Moonshot initiative, dedicated to halving the cancer death rate within 25 years, is supported by the Centers for Disease Control and Prevention (CDC). The initiative sets ambitious goals to reduce the cancer death rate by 50% over the next quarter century and provide comprehensive support to cancer survivors and their families. Consequently, government initiatives aimed at improving cancer care and treatment are propelling the growth of the ibrutinib market.
Health side effects pose a significant challenge, limiting the growth of the ibrutinib market during the forecast period. These unintended and often undesirable outcomes or symptoms resulting from ibrutinib use can hinder market growth by reducing patient compliance, raising medical concerns, damaging reputation, prompting regulatory scrutiny, fostering competition from alternative treatments, increasing research and development costs, necessitating patient education and support, and overall affecting market dynamics. For instance, according to Mayo Clinic, some side effects of ibrutinib include fever, nausea, confusion, and body pain. Therefore, the health side effects associated with ibrutinib are hindering the growth of the ibrutinib market.
Leading companies in the ibrutinib market are actively developing innovative drugs such as Imbruvica to better serve patients and gaining approvals. Imbruvica (ibrutinib), a kinase inhibitor used to treat pediatric patients with chronic graft-versus-host disease (cGVHD) after systemic therapy failures, received US Food and Drug Administration (FDA) approval in August 2022. Janssen Pharmaceutical, a subsidiary of Johnson & Johnson, developed Imbruvica as a once-daily oral medication that blocks the BTK protein involved in cGVHD development, providing a significant advancement in treatment options.
In November 2021, ArchiMed SAS, a France-based investment firm specializing in the healthcare industry, acquired majority stakes from Suan Farma S.A.U. for an undisclosed amount. This strategic acquisition aims to expand ArchiMed SAS's presence in the pharmaceutical industry in Spain and Portugal, leverage Suan Farma's manufacturing capabilities, and access its extensive product portfolio. Suan Farma S.A.U., a Spain-based pharmaceutical company, is currently in the development phase of Ibrutinib drugs for cancer treatments.
Major companies operating in the ibrutinib market report are Johnson And Johnson Pvt Ltd., ABBVie Inc., Novartis AG, Bristol-Myers Squibb Company, Fresenius Kabi Oncology Ltd., Teva Pharmaceutical Industries Limited, Dr. Reddy's Laboratories Ltd., Apotex Inc., Cipla Limited, Zydus Lifesciences Limited, Sun Pharmaceutical Industries Ltd., Supriya Lifescience Ltd., Incepta Pharmaceuticals Ltd., Accord Healthcare Limited, Natco Pharma Ltd., Haoyuan Chemexpress, Toronto Research Chemicals, Shilpa Medicare Limited, ScinoPharm Taiwan Ltd., Beacon Pharmaceuticals plc, Minakem SAS, Wisdom Pharmaceutical Co Ltd., Bluepharma Group, Clearsynth Labs Limited, LGM Pharma LLC, MSN Laboratories Pvt Ltd., Bulat Pharmaceutical Private Limited, A.R. Life Science Pvt. Ltd., Hetero Drugs Ltd., Anant Pharmaceuticals Pvt. Ltd.
North America was the largest region in the ibrutinib market in 2023. The regions covered in the ibrutinib market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the ibrutinib market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The ibrutinib market consists of sales of Imbruvica. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Ibrutinib Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ibrutinib market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ibrutinib? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ibrutinib market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.