Rituximab Market Trends

Growth Drivers

• Increasing Demand for Monoclonal Antibodies – rituximab is one of the most common monoclonal antibodies used in the treatment of cancer, cardiovascular diseases and others. Also, the survival rate has increased with the application of rituximab with chemotherapy. In addition to this the rising cases of these diseases are boosting the market growth rapidly.
• Increasing collaborations for the development of new products – In collaboration with other companies operating in the sector, the companies operating in the biosimilars sector continue to focus on the development of new products. The rituximab biosimilar market has been shaped by innovative partnerships. For example, in May 2020, Teva Pharmaceutical Industries Ltd and Celltrion Healthcare Co. Ltd jointly launched a biosimilar of TruximaNumab injection to treat polyangiitis and Rheumatoid Arthritis in the US market.
• Investment in the healthcare sector - Over the last 15 years, the U.S. is the world's largest contributor to Global Health funding, and its investment in Global Health has increased substantially over time. Additionally, US healthcare spending increased 2.7% in 2021. The Cancer Moonshot, the US cancer plan, is mobilizing efforts to achieve two very important goals set by the President of the United States: Preventing over four million deaths from cancer within 2047 as well as improving the way people who are affected by cancer experience it. Investment and funding in healthcare is positively driving the growth of rituximab market.

Challenges

• High-Cost of Rituximab - The major challenge to the growth of the rituximab market over the next few years will be the high costs associated with these biosimilars. Compared to IV biosimilar rituximab, the cost of the subcutaneous option was higher.
• Severe Side Effects
• Production Complexities