PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1310431
PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1310431
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.