Emphasis on into Route of Administration (Subcutaneous, Intravenous, and Parenteral); Application (Non-Hodgkin Lymphoma, Chronic Lymphocytic Leukemia, Rheumatoid Arthritis, and Others); Distribution Channel (Hospital Pharmacy, Online Pharmacy, and Others); and Region/Country.
The Rituximab market was valued at USD 3265 Million and is expected to grow at a strong CAGR of around 16% during the forecast period (2023-2030). The market is growing with the rise in the number of biosimilar available in the market. Biosimilars are generic versions of biologics that have passed their patent expiration date. Currently, a wide range of biosimilars for Rituxan has been approved by the regulatory bodies which have shown promising adoption among the patients owing to their cost efficacy in comparison to the branded drugs. Apart from this, several biosimilars are also present in clinical trials, which are expected to enter the market in the forthcoming years. For instance, in January 2023, Dr Reddy’s Laboratories announced that it has successfully completed the full set of clinical studies of its proposed rituximab biosimilar candidate, ‘DRL_RI’ for filing in highly regulated markets such as the US, Europe and other regions.
Some of the major players operating in the 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. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst route of administration, the parenteral segment to grow with high CAGR during the forecast period”
Based on the route of administration, the market is segmented into subcutaneous, intravenous, and parenteral. The parenteral category is anticipated to grow with significant CAGR during the forecast period as parenteral rituximab is designed to remain in the body for a longer period of time, potentially providing longer-lasting treatment. Moreover, parenteral rituximab can be stored at room temperature, making it easier to transport and administer in remote or resource-limited settings.
“Amongst application, the rheumatoid arthritis category held a significant share of the market in 2022”
By application, the market is categorized into non-Hodgkin lymphoma, chronic lymphocytic leukemia, rheumatoid arthritis, and others. The rheumatoid arthritis held a significant share of the market in 2022, due to the surge in the prevalence of rheumatoid arthritis globally. Furthermore, a rising number of research studies regarding the use of rituximab in the management of RA is also positively impacting market growth. For instance, in a real-world study, patients with rheumatoid arthritis (RA) who were either new to rituximab therapy or switched from another brand of the medication had positive treatment outcomes and high retention rates with the biosimilar, GP2013 (Rixathon; Sandoz).
Rituximab Market Report Coverage
“Amongst distribution channel, the online pharmacy to grow with high CAGR during the forecast period”
Based on distribution channel, the market is segmented into hospital pharmacy, online pharmacy, and others. The online pharmacy is growing with a significant CAGR during the forecast period as it provides consumers to purchase pharmaceuticals from authorized distributors and well-organized e-commerce platforms. This service mitigates the issues of buying poor and counterfeit products from illegal distributors. Further, increasing penetration of internet of things and rising awareness among individuals is also driving the segmental growth during the forthcoming years.
“Asia Pacific to grow with high CAGR during the forecast period”
The Asia Pacific is anticipated to grow rapidly in the upcoming years owing to the surge in the prevalence of non-Hodgkin lymphoma and the encouraging response of rituximab in its management. For instance, according to WHO, around 33,00 NHL cases were diagnosed in Japan in 2020. Furthermore, domestic companies are actively investing in the development of rituximab biosimilars, thus driving the growth of the market. For instance, in January 2023, Dr. Reddy’s announced the completion of clinical studies of rituximab biosimilar candidate, which is expected to gain approval in the coming years.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Rituximab Market Covid-19 Impact
6. Global Rituximab Market Revenue, 2020-2030f
7. Market Insights By Route Of Administration
8. Market Insights By Application
9. Market Insights By Distribution Channel
10. Market Insights By Region
11. Rituximab Market Dynamics
12. Rituximab Market Opportunities
13. Rituximab Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Price Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Research Methodology for the Rituximab Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global rituximab market were the three major steps undertaken to create and analyze the adoption of rituximab in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global rituximab market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Rituximab market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the rituximab market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as route of administration, application, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the rituximab market. Further, we conducted factor analysis using dependent and independent variables such as the route of administration, application, and distribution channel of the rituximab market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the rituximab market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global rituximab market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global rituximab market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the route of administration, application, and distribution channel in the global rituximab market.
The main objective of the Global Rituximab Market Study
The current & future market trends of the global Rituximab market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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